LOS ANGELES, Feb. 5 (Korea Bizwire) — Hyundai and Kia, along with other global automakers, have launched operations for their joint electric vehicle (EV) charging venture, Ionna, marking a significant expansion of EV infrastructure across the United States. Hyundai announced on February 4 that Ionna, established last year to develop a robust North American charging network, [...]
SEOUL, Feb. 5 (Korea Bizwire) — TGI Fridays is set to exit the South Korean market, with its local operator, MFG Korea, announcing plans to close all remaining locations in the country. The company will shut down stores gradually as their lease agreements expire, prioritizing its focus on the Mad for Garlic restaurant brand. Currently, TGI [...]
SEOUL, Feb. 5 (Korea Bizwire) - Hyundai Motor Group is expected to be among the least affected global automakers from the United States’ plan to levy a 25 percent tariff on goods from Mexico, according to market watchers Wednesday. Major automakers with production bases in Mexico include General Motors (GM), Ford, Toyota, Nissan, Volkswagen, Honda [...]
SEOUL, Feb. 5 (Korea Bizwire) - The South Korean central bank said Wednesday that uncertainties remain high regarding prices of global oil and farm produce, the local currency and domestic demand, which could affect inflation down the road. Bank of Korea (BOK) Deputy Gov. Kim Woong made the assessment during a meeting meant to check [...]
SEOUL, Feb. 5 (Korea Bizwire) — Acting President Choi Sang-mok said Wednesday that DeepSeek has emerged as a “fresh shock,” forecasting that the latest artificial intelligence (AI) model from the Chinese startup could reshape the industrial landscape. “A Chinese company recently unveiled its AI model, DeepSeek R1, to deliver high performance at a low cost. [...]
SEOUL, Feb. 5 (Korea Bizwire) - The South Korean government is advancing plans to export integrated power plant and grid systems through public-private partnerships, despite growing market uncertainties surrounding the new Trump administration in the United States. The Ministry of Trade, Industry and Energy announced these plans on February 4 during the kickoff meeting of the [...]
SEOUL, Feb. 4 (Korea Bizwire) — Chevrolet’s Trax Crossover was South Korea’s most exported passenger vehicle in 2024, with the Trailblazer securing the fourth spot, according to an announcement by GM Korea on February 4. Data from the Korea Automobile & Mobility Association (KAMA) shows that a total of 295,099 units of the Trax Crossover, including [...]
SEOUL, Feb. 4 (Korea Bizwire) - Hyundai Motor Group said Tuesday it received high praise at recent major automotive awards in Britain and the United States, winning multiple honors across its three automotive brands. At the 2025 What Car? Awards, a prestigious British automotive awards event, Hyundai and Kia secured seven wins, with key models, [...]
SEOUL, Feb. 4 (Korea Bizwire) - South Korea’s financial watchdog said Tuesday that it will map out a stricter supervisory system for banks and take stern measures against their lack of internal control systems and risk management. According to the Financial Supervisory Service (FSS), Woori Bank, KB and NH Nonghyup had extended inappropriate loans worth [...]
SEOUL, Feb. 4 (Korea Bizwire) — The Korea Advanced Institute of Science and Technology (KAIST) announced on February 3 that a new spacecraft propulsion system it has developed will be launched into space aboard a satellite on South Korea’s Nuri launch vehicle. A research team led by Choe Won-ho, a professor in KAIST’s Department of Nuclear [...]