SEOUL, Jan. 21 (Korea Bizwire) — Industrial accident claims from delivery service workplaces increased dramatically last year, reaching approximately 1,500 cases – nearly five times the number reported in 2020, according to new government data. The figures, released on January 20 by the Korea Workers’ Compensation & Welfare Service and analyzed by Rep. Kim Wi-sang of [...]
SEOUL, Jan. 21 (Korea Bizwire) — South Korea’s leading construction company, Samsung C&T, has secured the rights to develop the Hannam District 4 redevelopment project, outbidding its rival Hyundai Engineering & Construction and marking its entry into the Hannam New Town development project. The win positions Samsung C&T favorably for future landmark projects, including the highly [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s economic growth could stagnate at around 1% if political instability continues, warns a report by the Hyundai Research Institute. Released on Sunday, the report highlights both domestic and international risks weighing on Asia’s fourth-largest economy, which is already grappling with weakening market confidence. Political and Economic Pressures Domestically, [...]
SEOUL, Jan. 20 (Korea Bizwire) — The oceans ministry said Monday it will spare no effort to successfully prepare for a global maritime conference scheduled to be held in the country this April, providing a venue for countries and civic societies to discuss the future of the sector. The 10th Our Ocean Conference (OOC) will [...]
SEOUL, Jan. 20 (Korea Bizwire) — The Bank of Korea (BOK) said Monday its outlook for South Korea’s economic growth this year may be lowered to as low as 1.6 percent due to a political crisis sparked by suspended President Yoon Suk Yeol and weak domestic demand. The BOK had presented 1.9 percent growth outlook [...]
SEJONG, Jan. 20 (Korea Bizwire) — With Donald Trump’s inauguration as U.S. president on January 20, 2025, South Korea’s competition policy faces heightened uncertainty due to his administration’s protectionist agenda and potential pushback against regulatory moves targeting Big Tech firms. U.S. Resistance to South Korean Platform Regulation South Korea’s proposed legislative reforms aimed at curbing [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s top three shipbuilders are expected to report collective annual profits for 2024, marking the first time in 13 years that the trio—HD Korea Shipbuilding & Offshore Engineering, Hanwha Ocean, and Samsung Heavy Industries—have all turned a profit. The achievement comes amid a “super cycle” in the global shipbuilding [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s credit default swap (CDS) premium, a key indicator of national credit risk, has started to decline after spiking due to political turbulence. The downturn signals a slight recovery in investor confidence following heightened concerns over political uncertainty. On January 17, the five-year CDS premium for South Korea [...]
SEOUL, Jan. 19 (Korea Bizwire) — Kia Motors achieved its highest-ever electric vehicle (EV) sales in 2024, fueled by robust demand in North America and the success of its large EV models, including the EV9. The company’s global EV sales from January to November reached 184,852 units, a 10.9% increase from the same period in 2023. [...]
SEOUL, Jan. 19 (Korea Bizwire) — Hyundai Motor Company revealed its vision for India’s micro-mobility market at the Bharat Mobility Global Expo 2025, showcasing concept models for three-wheeled and compact four-wheeled electric vehicles (EVs) designed specifically for the country’s unique transportation landscape. Micro-mobility, encompassing electric motorcycles and ultra-compact EVs, plays a critical role in regions like [...]