SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s standard agency said Wednesday it plans to enhance safety surveillance of products sold on overseas shopping platforms amid soaring direct purchases made by local consumers. Under the plan, the country will monitor the safety of 1,000 products sold on major overseas platforms this year, sharply up from [...]
SEOUL, Jan. 15 (Korea Bizwire) — HD Hyundai has made significant strides in accelerating hydrogen commercialization by successfully developing shipboard liquid hydrogen tanks and vacuum insulation technology. HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai’s shipbuilding division, announced on January 13, 2025, that it has received Approval in [...]
SEOUL, Jan. 15 (Korea Bizwire) — The state arms procurement agency has kicked off a project to renovate the Navy’s 4,400-ton warships with homegrown technology for enhanced efficiency in operating the fleet, officials said Wednesday. A meeting to discuss details of the upgrade for the Chungmugong Yi Sun-sin-class destroyers took place at the office of [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korean and Canadian companies are set to collaborate on battery recycling and circular economy projects, focusing on extending the lifespan of batteries and developing sustainable practices. The Korea Institute of Industrial Technology (KITECH) announced on January 14 that it will co-host a “Korea-Canada Battery Circular Economy Seminar and B2B [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea kicked off its annual winter shopping festival Wednesday, a 45-day nationwide event aimed at drawing foreign tourists and boosting spending during the tourism off-season. The Korea Grand Sale, running through Feb. 28, features discounts across flights, accommodations, and retail sectors, according to the Ministry of Culture, Sports [...]
SEOUL, Jan. 15 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it seeks to sell at least 58,000 units of its newly facelifted Palisade SUV in the domestic market by leveraging its hybrid and new nine-seat variants. The newly overhauled Palisade comes six years after the model’s debut in November 2018. The 2.5 turbo gasoline [...]
SEJONG, Jan. 15 (Korea Bizwire) — Container shipping costs from South Korea to China decreased in December compared with a month earlier, reversing the upward trend, the customs agency said Wednesday. The average shipping cost for a 40-foot container from South Korea to China fell 1.1 percent from a month earlier to 8 million won [...]
SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s industry ministry said Wednesday the government will spend 1.5 trillion won (US$1.02 billion) this year to induce consumers to purchase electric vehicles (EVs). The move is aimed at revitalizing domestic demand for EVs amid sluggish sales driven by safety concerns and a lack of access to charging [...]
SEOUL, Jan. 15 (Korea Bizwire) – SK Biopharmaceuticals Co. (SK Biopharm), a biopharmaceutical arm of SK Group, will establish a joint venture with a major South American biopharma, Eurofarma, in the United States to expand its business there, company officials said Wednesday. The company announced the plan during the ongoing JP Morgan Healthcare Conference in [...]
SEOUL, Jan. 15 (Korea Bizwire) — The global market for electric vehicles (EVs) is expected to see significant growth this year driven by the plug-in hybrid electric vehicle (PHEV) segment, while the battery electric vehicle (BEV) segment may continue to face challenges, a think tank run by Hyundai Motor Group said Wednesday. Yang Jin-soo, head [...]