SEOUL, March 27 (Korea Bizwire) — When the search term “Yonsei” suddenly trended on the CU convenience store chain’s mobile app on March 18, it wasn’t customers looking for the dairy company’s milk. Instead, Doosan Bears baseball fans were hunting for a new cream-filled pastry collaboration between CU, Yonsei Dairy, and their beloved team. The [...]
SEOUL, March 26 (Korea Bizwire) — The number of imported vehicles registered in South Korea has exceeded 3.5 million for the first time, marking a significant milestone in the nation’s evolving automotive landscape. According to data released Wednesday by the Korea Automobile Importers & Distributors Association (KAIDA), a total of 3,508,876 imported vehicles were registered as [...]
SEOUL, March 26 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Wednesday it has signed a five-year deal with a Taiwanese company to supply batteries for residential energy storage systems (ESSs) in the United States. LGES will provide Delta Electronics, Inc. with lithium iron phosphate (LFP) batteries for the [...]
SEOUL, March 26 (Korea Bizwire) – The government will join hands with export-related agencies to provide “all-out” support to South Korean companies in export business, the industry ministry said Wednesday. The Ministry of Trade, Industry and Energy held a joint conference in Seoul with various export-related agencies, including the Korea Customs Service, the Korean Intellectual [...]
SEOUL, March 26 (Korea Bizwire) – The chief of the country’s financial watchdog called on private equity firm MBK Partners Ltd. to be more responsible for the recent Homeplus fiasco Wednesday. Since last week, the Financial Supervisory Service (FSS) has been inspecting MBK Partners to look into whether there have been any flaws in the [...]
SEOUL, March 26 (Korea Bizwire) — A South Korean court has ordered an examination of vehicle component data in a high-profile lawsuit involving an apartment security guard who crashed a Mercedes-Benz while moving the vehicle for parking management. The case centers on allegations of sudden unintended acceleration. On Tuesday, Judge Jeong Sun-hee of the Seoul [...]
SEOUL, March 26 (Korea Bizwire) — South Korea unveiled an ambitious plan on Tuesday to boost the recycling rate of key strategic minerals to 20% by 2030, as part of its broader effort to secure critical supply chains and position itself in the rapidly expanding global market for resource recovery. During the fourth meeting of the [...]
SEJONG, South Korea, March 26 (Korea Bizwire) — The South Korean government announced on Tuesday plans to expand its strategic stockpile of automotive-grade urea and diversify import sources to prevent future supply disruptions. The move comes as part of broader efforts to strengthen the nation’s industrial supply chains under growing geopolitical and trade uncertainties in 2025. [...]
SEOUL, March 26 (Korea Bizwire) — South Korea’s largest conglomerates are rapidly expanding their investments in the United States, positioning themselves to navigate trade pressures and align with policy shifts under President Donald Trump’s second term. Leading this push is Hyundai Motor Group, which on March 24 (local time) announced a sweeping $21 billion investment plan [...]
SEOUL, March 26 (Korea Bizwire) — Chanel Korea reported record annual revenue of 1.84 trillion won (approximately $1.3 billion) in 2024, marking an 8% increase from the previous year, according to the company’s audited financial statement released on Tuesday. Despite the robust sales growth, the company’s operating profit slipped 1% to 269.5 billion won, while net [...]