SEOUL, March 7 (Korea Bizwire) — The government will come up with measures next month to respond to the United States’ plan to impose tariffs on auto imports, the industry ministry said Friday, as the new U.S. tariffs are expected to deal a severe blow to the South Korean automotive industry. The Ministry of Trade, [...]
SEOUL, March 7 (Korea Bizwire) — South Korean steel companies said Friday they will closely cooperate with the government and related agencies to minimize the impact of planned U.S. tariffs on all steel and aluminum imports from next week. U.S. President Donald Trump has announced a series of levies on some of his country’s trading [...]
SEOUL, March 7 (Korea Bizwire) — Chung Ki-sun, senior vice chairman of South Korean shipbuilding conglomerate HD Hyundai Co., recently met with the head of Palantir Technologies Inc. to discuss shipyard projects utilizing artificial intelligence (AI) technology, according to industry sources Friday. Chung met with Alex Karp, chief executive officer (CEO) of the American defense [...]
SEOUL, March 6 (Korea Bizwire) — Hyundai’s Santa Fe has been crowned the ‘Best Car’ at the 2025 Women’s World Car of the Year (WWCOTY) awards, the company announced on March 6. The WWCOTY awards are judged by an all-female panel of 82 automotive journalists from 55 countries across five continents. Vehicles are evaluated based on [...]
SEOUL, March 6 (Korea Bizwire) — South Korea’s exports of food, led by instant noodles, grew an average of 8 percent annually over the past 10 years on the growing global popularity of K-culture, a business organization said Thursday. K-food shipments doubled to US$7.02 billion in 2024 from $3.51 billion in 2015, with instant noodles, [...]
SEOUL, March 6 (Korea Bizwire) — In a move to amplify women’s voices in the business sector, the Korea Chamber of Commerce and Industry (KCCI) established its first Women’s Business Committee on March 5, bringing together 50 of the nation’s top female executives from various industries. The initiative comes as South Korea grapples with persistently low [...]
SEOUL, March 6 (Korea Bizwire) — Nongshim Co., South Korea’s leading instant noodle maker, said Thursday it will raise the prices of its instant noodle and snack products next week due to higher raw materials costs. Nongshim plans to raise the retail prices of 14 “ramyeon” products by 7.2 percent and three snack products by [...]
SEOUL, March 6 (Korea Bizwire) — Kia Corp. on Thursday partnered with Gyeonggi Province and the city of Hwaseong to develop an ecosystem for the future mobility industry in the region, with a focus on the automaker’s purpose-built vehicles (PBVs). Under a memorandum of understanding (MOU) signed at Kia Autoland Hwaseong, Kia will proceed with [...]
SEOUL, March 6 (Korea Bizwire) — Genesis, Hyundai Motor Group’s independent luxury brand, said Thursday it has launched its revamped GV60 electric vehicle (EV) model with a suite of design and performance upgrades. The upgraded model, introduced three years and five months after the launch of the original GV60, refines the brand’s “Athletic Elegance” design [...]
SEOUL, March 6 (Korea Bizwire) — Nearly 1 in 3 large companies in South Korea have reported a deterioration in their financial conditions this year compared with 2024, a survey released Thursday showed. The survey conducted by Mono Research on the country’s top 1,000 firms in terms of sales found that 31 percent of the [...]