SEOUL, April 4 (Korea Bizwire) — The number of South Korean companies filing for court-led restructuring has surged in early 2025, reflecting mounting pressure from the prolonged economic slowdown. According to new court data, 196 companies applied for corporate rehabilitation during January and February — a 26% increase from the same period last year. The [...]
SEOUL, April 3 (Korea Bizwire) — LG Electronics Inc. said Thursday it has partnered with Kia Corp. to integrate its artificial intelligence (AI) mobility space solutions into Kia’s automotive technology. The collaboration aims to enhance customer-tailored mobility by incorporating AI-driven solutions and home appliances into Kia’s purpose-built vehicles (PBVs), according to LG Electronics. As the [...]
SEOUL, April 3 (Korea Bizwire) — Hyundai Motor Co. on Thursday unveiled a fully redesigned version of its Nexo hydrogen fuel cell sport utility vehicle (SUV) for the first time at the 2025 Seoul Mobility Show. The model, showcased at a media event for the biennial motor show at KINTEX in Goyang, northwest of Seoul, [...]
SEOUL, April 3 (Korea Bizwire) — South Korean defense giant Hanwha Aerospace Co. said Thursday it has signed a 371.4 billion-won (US$253.6 million) deal to export homegrown K9 self-propelled howitzers to India. Under the agreement, the company will deliver the K9 howitzers to the Indian Army by September 2030, in cooperation with Mumbai-based company Larsen [...]
SEOUL, April 3 (Korea Bizwire) — South Korea’s economy will likely face headwinds as the U.S. administration’s plan to impose “reciprocal” tariffs is expected to deal a severe blow to the country’s shipments to the United States, while seriously disrupting the global market that may again adversely affect South Korean exports, local experts said. They [...]
SEOUL, April 3 (Korea Bizwire) — South Korean steelmakers said Thursday they will set up an “item-by-item” export strategy through close consultations with government officials and industry associations in response to hefty U.S. tariffs. U.S. President Donald Trump imposed 25 percent tariffs on steel and aluminum imports in mid-March and slapped country-specific reciprocal duties on [...]
SEOUL, April 3 (Korea Bizwire) — Nearly half of all debts held by individuals and businesses in South Korea are real estate market-related loans, which may stymie economic growth and undermine financial stability, the central bank said Thursday. The country’s total real estate credit amounted to 1,932.5 trillion won (US$1.32 trillion) as of end-2024, accounting [...]
DAEJEON, April 3 (Korea Bizwire) — More than 10 percent of the world’s farmland could disappear if global temperatures rise by 1.5 degrees Celsius, according to a new study by South Korean and Chinese researchers, raising urgent concerns about future food security under current climate goals. The joint research, led by Professor Hae-Won Jeon of [...]
GOYANG, South Korea, April 3 (Korea Bizwire) – Hyundai Motor Company unveiled the fully redesigned version of its hydrogen fuel cell vehicle, the All-New Nexo, at the 2025 Seoul Mobility Show on Wednesday, marking the global debut of the next-generation model seven years after the original Nexo launched in 2018. Inspired by the hydrogen-powered concept N [...]
GOYANG, South Korea, April 3 (Korea Bizwire) — Porsche Korea debuted the new 911 Carrera 4 GTS at the 2025 Seoul Mobility Show on Wednesday, marking the domestic premiere of the automaker’s first mass-produced hybrid model in the iconic 911 lineup. The new variant, a significant milestone since the 911’s original launch in 1963, introduces a [...]