SEOUL, April 21 (Korea Bizwire) — As the U.S.-China trade war escalates in 2025, South Korea’s retail and small manufacturing sectors are bracing for a potential flood of low-cost Chinese goods that could destabilize domestic markets. Industry concerns have mounted following a series of aggressive tariff measures by former U.S. President Donald Trump. On April 9, [...]
SEOUL, April 21 (Korea Bizwire) — As global automakers confront slowing demand for fully electric vehicles (EVs), South Korean carmakers Kia and Hyundai are turning to range-extended electric vehicles (EREVs) to bridge the adoption gap and unlock new revenue streams for the struggling battery industry. Kia revealed it is developing an EREV pickup model alongside its [...]
SEOUL, April 21 (Korea Bizwire) — South Korean convenience store chain GS25 is turning missed search results into a powerful tool for product innovation, using customer data from its mobile app to identify and launch new alcoholic beverages. GS25 announced Sunday that it has been analyzing “search failure” data from its app Our Neighborhood GS, particularly [...]
SEOUL, April 21 (Korea Bizwire) — South Korea will launch a pilot project this week to automatically detect and report potential electric vehicle (EV) battery fires to emergency services, aiming to accelerate response times and minimize damage from fire incidents. The Ministry of Land, Infrastructure and Transport announced Sunday that the initiative, developed in collaboration with [...]
SEOUL, April 20 (Korea Bizwire) — As electric vehicle (EV) demand shows signs of plateauing, Hyundai Motor Group is shifting attention to hybrid technology, unveiling a next-generation hybrid system featuring a dual-motor transmission — a first for the company — to bridge performance, efficiency, and adaptability across its vehicle lineup. The new system, introduced at the [...]
SEOUL, April 20 (Korea Bizwire) — Hyundai Motor Co., South Korea’s top automaker, said Sunday it has sold over 500,000 units of the Palisade sport utility vehicle (SUV) in the United States. The cumulative sales of the Palisade in the United States reached 506,425 units as of the end of last month, according to Hyundai’s [...]
SEOUL, April 20 (Korea Bizwire) — The number of unsold new homes in South Korea has reached the highest level in 11 years and five months, data showed Sunday, due mainly to weak demand for new homes in provincial regions. There were 23,722 unsold new apartments nationwide as of the end of February, doubling from [...]
SEOUL, April 20 (Korea Bizwire) — Kia has cemented its position as a global automotive powerhouse, with its compact electric SUV, the EV3, winning the coveted title of World Car of the Year (WCOTY) at the 2025 World Car Awards held during the New York International Auto Show. This marks the second consecutive year Kia has [...]
SEOUL, April 20 (Korea Bizwire) — South Korea’s Incheon International Airport ranked third in international passenger traffic last year, its highest ranking since opening in 2001, the airport’s operator said Sunday. The country’s main airport, located about 45 kilometers west of Seoul in Incheon, previously ranked seventh in 2023 and fifth in both 2018 and [...]
SEOUL, April 19, (Korea Bizwire) — South Korea’s leading food delivery platform, Baemin, has drawn public backlash after introducing commission fees on takeout orders, a move critics say could burden small businesses and consumers while signaling the platform’s shifting business strategy. Starting April 14, 2025, Baemin began charging intermediary service fees on takeout orders, ending [...]