SEJONG, Jan. 22 (Korea Bizwire) – South Korea’s standards agency unveiled a blueprint Wednesday for enhancing its monitoring of children’s products sold on overseas shopping platforms amid growing concerns over the influx of goods that fail to meet local safety standards. The plan, which will run through 2027, comes amid growing demand for children’s products [...]
SEOUL, Jan. 22 (Korea Bizwire) — The state defense procurement agency officially launched the fourth and final phase of its next-generation frigate project on Wednesday as part of efforts to replace the Navy’s aging warships. Defense officials and companies involved in the project gathered at Hanwha Ocean Co.’s headquarters in Geoje, 329 kilometers southeast of [...]
SEOUL, Jan. 22 (Korea Bizwire) — Daemyung Sono Group, a leading condominium and resort company in South Korea, said Wednesday it is seeking to acquire management control of low-cost carrier (LCC) T’way Air Co. to improve the airline’s operations and financial health. Sono International, the holding company of Daemyung Sono Group, said it is ramping [...]
SEOUL, Jan. 22 (Korea Bizwire) — Hanwha Qcells, the renewable energy unit of Hanwha Solutions Corp., said Wednesday it has sold two solar power development projects in the United States to a Kohlberg Kravis Roberts (KKR) company. Hanwha Qcells has sold the two solar power projects, one in Colorado and the other in Virginia, to [...]
SEOUL, Jan. 22 (Korea Bizwire) — Hyundai Motor Company announced the launch of its 2025 The New Pavise medium-duty truck on January 21, featuring significant upgrades focused on driver comfort and convenience. The Pavise, introduced in August 2019, has been updated with new amenities based on market feedback. The most notable addition to the top-tier Prestige [...]
SEOUL, Jan. 22 (Korea Bizwire) — Members of South Korea’s National Assembly sharply criticized Coupang Inc.’s founder Kim Bom-suk for his absence from a parliamentary hearing on January 21 focused on improving working conditions for the e-commerce giant’s delivery workers, particularly regarding late-night labor practices. The hearing, held by the Environment and Labor Committee, was attended [...]
SEOUL, Jan. 22 (Korea Bizwire) — Coupang, one of South Korea’s largest e-commerce companies, has admitted to maintaining an employment blacklist affecting over 16,000 individuals, following revelations by MBC in February 2024. This marks the first time the company has publicly acknowledged the controversial list, which allegedly barred reemployment of workers and even included journalists critical [...]
SEOUL, Jan. 21 (Korea Bizwire) — Korean manufacturers of power equipment and electrical cables are strengthening their foothold in the United States as demand surges for grid infrastructure upgrades, driven by artificial intelligence and data center expansion. HD Hyundai Electric announced on January 20 its plans to invest 185 billion won to construct a second manufacturing [...]
SEOUL, Jan. 21 (Korea Bizwire) — Korean industries are expressing growing concern with the burden of increased raw material import costs and overseas investment expenses outweighing potential export benefits amid high exchange rates, according to a new report released on January 20. The Korea Chamber of Commerce and Industry surveyed 12 major industry associations to assess [...]
SEOUL, Jan. 21 (Korea Bizwire) — Automotive industry experts on Tuesday urged the government to revise its ambitious target of deploying 4.5 million zero-emission vehicles by 2030, part of the nation’s greenhouse gas reduction goals, to align with practical realities. Yoon Kyung-sun, executive managing director of the Korea Automobile & Mobility Association (KAMA), called the [...]