SEOUL, Feb. 26 (Korea Bizwire) — Emergency roadside assistance for electric vehicles (EVs) varies significantly by season, with winter dominated by towing requests and summer seeing a surge in tire puncture repairs, according to a recent study. The Traffic and Climate Research Center at Hyundai Marine & Fire Insurance analyzed two years of data from [...]
SEOUL, Feb. 26 (Korea Bizwire) — Hyundai Rotem Co., the train manufacturing subsidiary of South Korea’s Hyundai Motor Group, said Wednesday it has won a 2.2 trillion-won (US$1.53 billion) deal from Morocco to supply advanced trains to the North African nation. Hyundai Rotem secured the contract to supply ONCF, Morocco’s national railway operator, with double-decker [...]
SEOUL, Feb. 26 (Korea Bizwire) — South Korean e-commerce giant Coupang, Inc. said Wednesday its sales exceeded 40 trillion won (US$27.9 billion) for the first time last year on robust sales in the “new growth” segment. Sales jumped 29 percent to a record 41.29 trillion won in 2024 from 31.82 trillion won a year earlier, [...]
INCHEON, South Korea, Feb. 26 (Korea Bizwire) — South Korea will stress the importance of bilateral cooperation in various industries, such as energy and shipbuilding, in negotiations with the United States on its new tariff plans, Seoul’s industry minister said Wednesday. Industry Minister Ahn Duk-geun made the remarks as he departed for Washington to meet [...]
SEOUL, Feb. 26 (Korea Bizwire) — Samsung Electronics Co. said Wednesday it has joined hands with Hyundai Motor Co. to integrate its fifth-generation (5G) private network solutions with the carmaker’s advanced vehicle manufacturing facilities. The two companies recently completed the end-to-end Reduced Capability (RedCap) trial over a private 5G network and will showcase the technology [...]
SEOUL, Feb. 26 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Wednesday it has completed its second overseas bakery plant in Malaysia as part of its expansion strategy. SPC invested 80 billion won (US$56 million) in the Paris Baguette plant, located at the Nusajaya Tech Park in Johor Bahru, with [...]
SEOUL, Feb. 26 (Korea Bizwire) — Acting President Choi Sang-mok on Wednesday reaffirmed the government’s commitment to turning South Korea into one of the world’s top five leaders in the advanced bio sector, stressing the emerging sector is comparable in size to major industries combined. “The global advanced bio industry was valued at US$2 trillion, [...]
SEOUL, Feb. 26 (Korea Bizwire) — Stock-backed loans among South Korea’s major conglomerate owners have surged by nearly 1.5 trillion won ($1.05 billion) over the past eight months, reflecting an increasing reliance on equity as collateral amid financial pressures. A recent analysis by corporate research firm Leaders Index, covering 79 of the nation’s largest business [...]
SEOUL, Feb. 26 (Korea Bizwire) — Seongdong District in Seoul announced on February 25 that preliminary negotiations have concluded for the transformation of a former concrete plant site adjacent to Seoul Forest into what officials envision as a new cultural hub for the city. The development marks the first case of “architectural innovation pre-negotiation” in the private [...]
SEOUL, Feb. 26 (Korea Bizwire) — Global automakers are rolling out lower-priced electric vehicles this year despite facing a temporary plateau in demand, known in the industry as a “chasm.” The strategy aims to attract cost-conscious consumers while securing market share ahead of widespread EV adoption. According to industry sources on February 24, Kia plans to unveil [...]