SEOUL, Dec. 19 (Korea Bizwire) — South Korea’s major food delivery platforms continue to place a heavy financial burden on small merchants, with commissions and related fees consuming as much as 29 percent of sales revenue, according to a new assessment released by the Seoul Metropolitan Government on Thursday. The city unveiled its first “Delivery [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s ruling Democratic Party said Thursday it would push for a joint parliamentary hearing involving multiple standing committees to investigate a massive data breach at e-commerce giant Coupang, stepping up pressure after the company’s founder repeatedly failed to appear before lawmakers. Kim Hyun-jung, a spokesperson for the Democratic Party’s [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korea’s financial regulator on Thursday raised its consumer alert level to “warning” after confirming secondary damages—including voice phishing and smishing—linked to last month’s massive personal data leak at e-commerce giant Coupang. The Financial Supervisory Service (FSS) said the escalation follows a rise in reported fraud attempts exploiting public anxiety [...]
SEOUL, Dec. 18 (Korea Bizwire) — Hanwha Systems Co., a defense solutions unit of South Korea’s Hanwha Group, said Thursday it has signed a contract with Boeing Co. to supply advanced cockpit displays for F-15K and F-15EX fighter jets. Under the agreement, Hanwha Systems will provide the Eagle Large Area Display (ELAD) for Boeing’s fighter [...]
SEOUL, Dec. 18 (Korea Bizwire) — Hyundai Motor Group said Thursday it will significantly expand its plug-and-charge (PnC) electric vehicle (EV) charging network starting next year to provide a more convenient and secure charging experience for customers. PnC is an international standard technology that allows drivers to start charging simply by connecting the charging cable [...]
SEOUL, Dec. 18 (Korea Bizwire) — The government said Thursday it will form an interagency task force to handle the recent large-scale data breach at e-commerce giant Coupang Corp. The decision was made at a meeting of science and technology–related ministers chaired by Science Minister Bae Kyung-hoon, the government said. Led by Ryu Je-myung, second [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korean lawmakers sharply criticized Coupang on Wednesday during a National Assembly hearing on the company’s massive personal data leak, condemning the absence of founder Bom Kim and accusing the e-commerce giant of showing contempt for Korean consumers and regulators. Members of both ruling and opposition parties denounced Kim, the [...]
SEOUL, Dec. 17 (Korea Bizwire) — Ford Motor Co. has canceled a 9.6 trillion-won (US$7.4 billion) battery supply contract with LG Energy Solution, a rare rupture in one of the world’s largest EV supply chains that is heightening alarm over the sector’s deepening slowdown. LG Energy Solution disclosed Wednesday that Ford had terminated the agreement, which [...]
SEOUL, Dec. 17 (Korea Bizwire) — A long-running management dispute at Korea Zinc intensified this week as rival shareholder groups clashed over the company’s plan to build a massive smelter in Tennessee, a project estimated to be one of its largest overseas investments. On Wednesday, Youngpoong Group and private-equity firm MBK Partners—major shareholders aligned against [...]
BUSAN, Dec. 17 (Korea Bizwire) — South Korea has begun real-world testing of a new solar-generating window film designed to turn high-rise buildings into power producers, marking a potential breakthrough for urban renewable energy. Korea Southern Power (KOSPO) said Tuesday it has launched a demonstration project with the Korea Institute of Materials Science to evaluate [...]