SEOUL, Feb. 4 (Korea Bizwire) - South Korea’s Hanwha Group said Tuesday it has partnered with global energy technology firm Baker Hughes Co. for the joint development of a low-carbon ammonia gas turbine. Under the agreement, Hanwha Ocean Co. and Hanwha Power Systems Co. plan to expand their technological cooperation with Baker Hughes with a [...]
SEOUL, Feb. 4 (Korea Bizwire) — The South Korean Ministry of the Interior and Safety announced on February 3 that it will expand benefits for consumers who help identify or frequently patronize businesses designated as “Good Price Shops” — establishments recognized for providing quality goods and services at reasonable prices. Under the new initiative, consumers who [...]
MEXICO CITY, Feb. 4 (Korea Bizwire) — South Korean companies operating in Mexico have expressed cautious relief after the U.S. and Mexican governments agreed to postpone a planned 25% tariff on Mexican exports for one month. However, with the tariff still looming as a possibility, businesses remain on high alert, preparing for potential disruptions. Kia Mexico, a [...]
SEOUL, Feb. 3 (Korea Bizwire) — The South Korean auto industry is bracing for significant disruptions after U.S. President Donald Trump announced new universal tariffs on the country’s largest trading partners, including Canada, Mexico, and China. The move is expected to have immediate financial implications for South Korean automakers and suppliers, particularly those that have [...]
SEOUL, Feb. 2 (Korea Bizwire) — Volvo Cars Korea announced on Monday the official launch of the EX30, its premium electric sports utility vehicle (SUV), in the South Korean market. The EX30, which sold nearly 100,000 units globally last year, emerged as the best-selling premium electric vehicle (EV) in Europe among non-EV-exclusive brands, with 78,032 units [...]
SEOUL, Feb. 3 (Korea Bizwire) —Hanwha Ocean Co. said Monday it has successfully delivered a large wind turbine installation vessel (WTIV) to global offshore wind farm builder Cadeler one month ahead of its planned delivery date. Ordered in 2021, the WTIV, measuring 148 meters in length and 56 meters in width, is capable of carrying [...]
SEOUL, Feb. 3 (Korea Bizwire) — Global executives have identified the automotive sector as the industry likely to face the most significant disruption this year, according to a new survey. The research also revealed that amid the rise of China’s low-cost AI system DeepSeek, 8 in 10 executives believe artificial intelligence will positively impact their industries. [...]
BUSAN, Feb. 3 (Korea Bizwire) - Authorities launched a joint investigation into a fire-destroyed Air Busan plane on Monday, a week after the plane caught fire at a South Korean airport shortly before takeoff, prompting passengers to make an emergency exit. The transportation ministry, together with the Bureau of Enquiry and Analysis for Civil Aviation Safety, [...]
SEOUL, Feb. 3 (Korea Bizwire) — The popularity of commercial properties in South Korea’s auction market has waned significantly, with both successful bid rates and price ratios falling as businesses struggle with decreased sales during the economic downturn. According to data from GG Auction, a specialized auction data firm, Seoul saw 258 commercial property auctions from [...]
SEOUL, Feb. 3 (Korea Bizwire) - The Navy held a ceremony on Monday to mark the establishment of a new fleet command aimed at better responding to North Korea’s military threats at sea, officials said. On Saturday, the Navy officially launched the Republic of Korea Navy Task Fleet Command, calling it a “core unit of [...]