SEJONG, Jan. 27 (Korea Bizwire) — The average South Korean worker received approximately 10.69 million won in bonuses last year, while the top 0.1% of earners collected bonuses exceeding 620 million won, highlighting significant income disparities in the workforce, according to new government data. Figures released by the National Tax Service and obtained by People Power [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s domestic auto market saw its weakest performance in over a decade in 2024, with new car sales hitting their lowest level since 2013, according to a report released by the Korea Automobile & Mobility Industry Association (KAMA) on Thursday. The report revealed that 1.635 million new vehicles were [...]
SEOUL, Jan. 24 (Korea Bizwire) — The South Korean government has announced an ambitious initiative to position the country as one of the world’s top five biotech powerhouses by establishing a Korean-style bio cluster and accelerating AI- and data-driven biotech research and development (R&D). The plan aims to elevate the biotech industry to a level [...]
SEOUL, Jan. 24 (Korea Bizwire) — Cheil Worldwide announced on January 23 that it will spearhead the marketing launch of BYD’s passenger vehicle brand in South Korea, marking a significant move by the world’s largest electric vehicle manufacturer into the Korean market. The agency has already begun its campaign, releasing the first promotional video for BYD’s [...]
SEOUL, Jan. 24 (Korea Bizwire) — HD Hyundai Marine Solutions, the marine solutions arm of HD Hyundai, announced on Wednesday that its artificial intelligence-based route optimization system, OceanWise, will be deployed for the first time on vessels operated by leading South Korean shipping companies, SK Shipping and Hyundai Glovis. OceanWise utilizes big data and AI algorithms [...]
SEOUL, Jan. 24 (Korea Bizwire) — Hyundai Motor Co. said Friday it has partnered with Nexon Co. for a special collaboration event in the popular mobile racing game KartRider Rush+. As part of the event, players can experience virtual versions of Hyundai’s latest electric vehicles (EVs), such as the Ioniq 9, the company’s first large [...]
SEOUL, Jan. 24 (Korea Bizwire) — Genesis, Hyundai Motor Group’s independent luxury brand, said Friday it has unveiled a concept vehicle designed for rescue support tasks in rugged terrains and challenging weather conditions. The GV60 Mountain Intervention Vehicle (MIV) concept was revealed this week at the World Economic Forum 2025 in Davos, Switzerland. It marked [...]
SEOUL, Jan. 23 (Korea Bizwire) — Hyundai Motor weathered a challenging year in 2024, achieving annual revenue of 175.2 trillion won ($125 billion) and operating profit of 14.2 trillion won ($10.1 billion). While these figures represent a 5.9% decline in operating profit compared to the previous year’s record-setting performance, analysts praised the company for mitigating [...]
SEOUL, Jan. 23 (Korea Bizwire) — A delayed onset of winter in South Korea has driven a surge in demand for premium bedding, with sales of goose-down and wool comforters soaring as temperatures plummeted in recent weeks. Major department stores, including Lotte, Shinsegae, and Hyundai, reported a 10% year-over-year increase in overall bedding sales from [...]
SEOUL, Jan. 23 (Korea Bizwire) — Health and medical advertisers dominated South Korean television advertising last year, according to a comprehensive industry report released January 22 by data platform company IGAWorks. The report shows that health and medical sector advertisements accounted for 24% of total TV advertising impressions in 2024, reaching 136 billion views. This placed [...]