SEOUL, Jan. 9 (Korea Bizwire) — The proportion of bureaucrats serving as outside directors in South Korea’s top 30 conglomerates has grown, concentrating board expertise in legal and policy fields, according to a report by corporate analysis firm Leaders Index on January 9. Key Findings An analysis of 856 outside directors across 237 companies within [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea plans to release a record amount of agricultural products into the market to stabilize prices and ease the financial burden on people ahead of the Lunar New Year, the government said Thursday. Under the plan, the government will release 265,000 tons of 16 major agricultural items, including [...]
SEOUL, Jan. 9 (Korea Bizwire) — KT Corp., a major South Korean telecommunications company, said Thursday it will join hands with defense firm LIG Co. Nex1 to develop propriety technologies for homegrown low Earth orbit (LEO) satellites. The two companies signed a memorandum of understanding to jointly develop core technologies for LEO satellites, including a [...]
SEJONG, Jan. 9 (Korea Bizwire) — Hyundai Steel, a key affiliate of Hyundai Motor Group, is reportedly exploring plans to build a large steel mill in the United States. The move comes as U.S. President-elect Donald Trump signals heightened protectionist trade policies, urging foreign companies to manufacture within the U.S. to access its market. Potential [...]
LAS VEGAS, Jan. 8 (Korea Bizwire) — Harman International, a wholly owned automotive and audio subsidiary of Samsung Electronics Co., on Wednesday unveiled its new “automotive intelligence” technologies at CES 2025, aiming to deliver personalized in-cabin experiences through advanced intelligence and contextual awareness. “The automotive industry is rapidly transitioning to software-defined vehicles, with cars evolving [...]
SEOUL, Jan. 9 (Korea Bizwire) — Hyundai Motor Group on Thursday pledged to invest a record 24.3 trillion won (US$16.6 billion) in South Korea this year to bolster future competitiveness amid uncertain global business environments. The annual investment plan represents a more than 19 percent increase from last year’s domestic investment of 20.4 trillion won, [...]
SEOUL, Jan. 9 (Korea Bizwire) — A new study has revealed that individuals who have previously filed claims for private medical insurance not only visit hospitals more frequently but also spend more on outpatient care compared to those who haven’t filed claims. According to research published in the recent issue of the Korean Journal of Hospital [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea’s oceans ministry on Thursday announced a plan for the country to become the world’s top exporter of oysters by 2030, as part of efforts to diversify its trade portfolio. Under the vision, South Korea aims to export US$160 million worth of oysters in 2030, significantly up from [...]
SEOUL, Jan. 9 (Korea Bizwire) — CJ Foodville Corp., the restaurant arm of food and entertainment conglomerate CJ Group, said Thursday its bakery franchise Tous les Jours will open its first outlet in Malaysia in the first half of this year. CJ Foodville has signed a master franchise contract with local retailer Stream Empire Holdings [...]
SEOUL, Jan. 9 (Korea Bizwire) — South Korea’s share of the global shipbuilding market fell to its lowest level in eight years in 2024, despite an increase in total orders, according to a report by UK-based Clarkson Research on January 8. Market Dynamics South Korea secured 10.98 million CGT (compensated gross tons) in orders, representing [...]