SEOUL, Feb. 17 (Korea Bizwire) — Amid a real estate market downturn, South Korea’s major construction companies are grappling with surging construction costs that have pushed their cost-to-sales ratios above 90%, triggering disputes and lawsuits over cost increases between builders and project owners. According to industry sources, among top-ranked construction companies, Hyundai Engineering & Construction and [...]
SEOUL, Feb. 16 (Korea Bizwire) — South Korean mobility platform Tada has filed a lawsuit against Kakao Mobility, accusing the industry giant of unfair business practices that allegedly restricted competition and harmed Tada’s operations. According to the information and communications technology (ICT) sector on February 16, Tada’s parent company, VCNC, filed the damages suit last month [...]
SEOUL, Feb. 14 (Korea Bizwire) — As discussions of potential peace negotiations between the United States, Russia, and Ukraine gain momentum, South Korean companies are positioning themselves to participate in what could become one of the largest reconstruction efforts in modern history. Estimates have pegged the cost of rebuilding Ukraine’s war-torn infrastructure at approximately $900 billion, [...]
SEOUL, Feb. 14 (Korea Bizwire) – Hyundai Motor Co. said Friday it will accept preorders for a custom-built high-performance edition of the company’s Ioniq 5 electric vehicle (EV), of which only 50 units will be sold globally. Preorders for the Ioniq 5 N DK edition are available via the automaker’s N Performance Shop, an online [...]
SEOUL, Feb. 14 (Korea Bizwire) — Recent fishing vessel accidents off Jeju Island have put a spotlight on the hazardous nature of long-distance winter fishing operations in South Korean waters, with fishermen risking their lives to pursue catches in distant seas. The latest incident occurred on February 12 when the 32-ton Jaeseong-ho, carrying 10 crew members, [...]
SEOUL, Feb. 14 (Korea Bizwire) – South Korean low-cost carrier (LCC) Eastar Jet Co. said Friday it was investigating a misconduct case involving a cabin crew’s taking of personal photos on the wing of a company aircraft at a domestic airport this week. Several flight attendants of the airline were found to have taken personal [...]
JAKARTA, Indonesia, Feb. 14 (Korea Bizwire) — At a bustling food expo in the heart of Jakarta, Indonesian shoppers eagerly sampled fresh strawberries flown in from Nonsan, South Korea. Among them was Ainna, a 30-year-old visitor, who proudly showcased a strawberry shortcake she had just purchased. Taking a bite, she remarked, “The combination of fresh [...]
ICHEON, South Korea, Jan. 13 (Korea Bizwire) — Marking the nation’s earliest rice planting of the year, farmers in Icheon, Gyeonggi Province, carried out the season’s first transplanting ceremony on February 13. Local authorities and agricultural cooperatives gathered at 2:30 p.m. in Anpyeong 3-ri, Hobup-myeon, where they planted domestic early-maturing ‘Jingwang’ rice seedlings in a [...]
SEOUL, Feb. 13 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering (HD KSOE) unveiled a nuclear-powered container ship model featuring small modular reactor (SMR) technology at the Houston Marine Nuclear Summit on February 12, the company announced on February 13. Unlike conventional vessels, nuclear-powered ships do not require exhaust systems or fuel tanks, a design [...]
SEOUL, Feb. 13 (Korea Bizwire) — Kia has lifted the curtain on its latest electric vehicle lineup, aiming to redefine the EV market with a bold new vision. Ahead of its annual “Kia EV Day,” set to take place later this month in Tarragona, Spain, the automaker released teaser images and videos of three upcoming models: [...]