POHANG, South Korea, Feb. 13 (Korea Bizwire) — The mood outside Hyundai Steel’s Pohang Plant 2 is one of unease. Employees show up for work, but operations remain largely stalled. “We come in, but there’s no production. It’s frustrating,” a worker in his 40s, employed by Hyundai IMC, a Hyundai Steel subsidiary, said on Monday. [...]
SEOUL, Feb.12 (Korea Bizwire) — U.S. aerospace firm Boeing Co. stressed Wednesday the importance of mixing manned and unmanned assets for optimal warfare capabilities, as South Korea is apparently reconsidering a plan to buy Apache attack helicopters over cost and efficiency issues. After completing the deployment of 36 AH-64E helicopters in 2017, the South Korean [...]
SEOUL, Feb. 12 (Korea Bizwire) — Yuhan-Kimberly has verified the greenhouse gas reduction benefits of its hand towel recycling campaign, “Bicycle,” through a Life Cycle Assessment (LCA), the company announced on February 12. LCA is a comprehensive analysis method that quantifies the environmental impact of a product or service from raw material extraction through manufacturing, distribution, [...]
SEOUL, Feb. 12 (Korea Bizwire) — Hyundai Mobis has developed a cutting-edge “Moving Speaker” system designed to work in sync with rollable displays in vehicle cockpits, the company announced on February 12. The system enhances in-car audio quality by adjusting speaker positioning to match various driving scenarios while also contributing to a more sophisticated interior design. [...]
WASHINGTON, Feb. 11 (Korea Bizwire) – Two U.S. senators have introduced a bill to allow the U.S. Navy to build naval vessels in a trusted ally’s shipyard in order to modernize and expedite construction and procurement processes for U.S. maritime forces, according to one of the lawmakers. On Wednesday last week, Sen. Mike Lee (R-UT) [...]
SEOUL, Feb. 12 (Korea Bizwire) – South Korea’s antitrust regulator said Wednesday that it has launched a reinvestigation into allegations that the country’s four major banks colluded on setting lending limits, the loan-to-value (LTV) ratio. The Fair Trade Commission (FTC) has dispatched its investigators to the headquarters of Shinhan Bank and Woori Bank as part [...]
SEOUL, Feb. 12 (Korea Bizwire) – A conference on electric energy kicked off in Seoul on Wednesday to showcase cutting-edge electric power technologies of local and foreign companies, the industry ministry said. Elecs Korea 2025, hosted by the Ministry of Trade, Industry and Energy, will run for three days through Friday at the COEX convention [...]
SEOUL, Feb. 12 (Korea Bizwire) — Stellantis Korea has pledged to strengthen Peugeot’s position in the South Korean market by introducing improved new models and hybrid technology, signaling a fresh start for the struggling brand. At a press conference held in Seoul’s Gangnam district on February 11, Stellantis Korea CEO Bang Sil stated, “We want [...]
SEOUL, Feb. 11 (Korea Bizwire) — Faced with the worst economic downturn in 21 years, South Korean consumers are increasingly turning to supermarkets over big-box retailers, preferring to buy necessities in smaller quantities rather than bulk purchases. According to data from Statistics Korea and industry sources, total retail sales fell by 2.2% in 2024, marking [...]
SEOUL, Feb. 11 (Yonhap) – South Korea plans to expand its official development assistance (ODA) to 50 nations by 2029, the agriculture ministry said Tuesday, a move partly aimed at strengthening the global competitiveness of the country’s agri-food industry. The move comes as part of the government’s five-year plan to bolster the country’s international agriculture [...]