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 [...]
JEONJU, Jan. 9 (Korea Bizwire) — By 2090, climate change could enable the cultivation of subtropical crops such as tea trees for green tea and olive trees in regions as far north as Gangwon Province, according to projections released by the Rural Development Administration (RDA) on Wednesday. Expanding Cultivation Areas Currently, tea trees are grown [...]
SEOUL, Jan. 9 (Korea Bizwire) — A new survey reveals that one in three small business owners in Korea increased their borrowing in 2024, highlighting the ongoing financial challenges faced by the sector. According to a study released on January 8 by the Korea Federation of SMEs (KBIZ), 34.9% of small business owners who hold loans [...]
SEOUL, Jan. 8 (Korea Bizwire) — The Korea Chamber of Commerce and Industry (KCCI) unveiled its 2025 Retail Industry White Paper on January 7, identifying “S.N.A.K.E”—Survival, Next, AI, K-Culture, and Economical Consumption—as the year’s key consumer market trends. Survival in a Stagnant Market With global economic challenges and stagnating consumer markets, competition for limited spending [...]
SEOUL, Jan. 8 (Korea Bizwire) — Global investment banks are increasingly sounding alarm bells over South Korea’s unprecedented low growth trajectory amid continuing political instability, with attention turning to a potential interest rate cut in January. JP Morgan has issued the most pessimistic outlook, projecting just 1.3% growth for the country in 2025, as domestic economic [...]
SEOUL, Jan. 8 (Korea Bizwire) – Hyundai Steel Co. is reviewing constructing an automotive steel mill in the United States to respond to the incoming Donald Trump administration’s protectionist policies, industry sources said Wednesday. The steel-making unit of South Korea’s auto giant Hyundai Motor Group has discussed the estimated 10 trillion won (US$6.9 billion) investment [...]
SEOUL, Jan. 8 (Korea Bizwire) — South Korea and the United States have begun an analysis of the crashed Jeju Air plane’s flight data recorder (FDR), and their joint investigation team is speeding up a probe of key components of the wreckage, including engines and main wings, at the crash site, a top government official [...]
SEOUL, Jan. 8 (Korea Bizwire) — Chung Yong-jin, chairman of South Korean retail conglomerate Shinsegae Group, and a group of other South Korean business leaders will attend U.S. President-elect Donald Trump’s inauguration ceremony later this month, officials said Wednesday. Chung has been invited to the inauguration ceremony slated for Jan. 20 (U.S. time) in Washington, [...]
SEOUL, Jan. 8 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has begun to sell its vehicles on Amazon.com, one year after the South Korean carmaker signed a strategic partnership with the U.S. retail giant. Starting Jan. 7 (local time), U.S. consumers can browse, order and finance any new Hyundai vehicle through a participating [...]