SEOUL, Jan. 2 (Korea Bizwire) — CJ Logistics, South Korea’s leading courier company, will begin offering seven-day delivery services starting January 5, 2025, a move expected to heighten competition in the nation’s e-commerce market. Previously, consumers faced delivery restrictions on Sundays and holidays, totaling about 70 non-delivery days per year. Only Coupang, with its proprietary logistics [...]
SEOUL, Jan. 2 (Korea Bizwire) — The Ministry of Food and Drug Safety (MFDS) announced significant reforms to streamline drug approval processes in 2025, including reducing the time required for registering imported active pharmaceutical ingredients (APIs) and simplifying compliance procedures for low-risk manufacturers. A dedicated task force will now handle new drug approvals, increasing company consultations [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s industry and defense ministries on Thursday signed an agreement to expand cooperation in using 3D printing technology to produce discontinued military parts. The two ministries have been using 3D printing technology since 2017 to produce parts difficult to procure for warships and tanks, with the latest agreement [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 a series of policy changes for 2025, including enhanced subsidies for young buyers of electric vehicles (EVs) and expanded environmental initiatives. Young individuals aged 19 to 34 purchasing their first EV will now receive a 20% additional subsidy on top [...]
SEOUL, Jan. 2 (Korea Bizwire) — LG Electronics Inc. said Thursday it plans to introduce its new mobility experience (MX) platform at the upcoming CES 2025, showcasing how artificial intelligence and Internet of Things (IoT) technologies can transform cars into personalized, multifunctional spaces. The MX platform aims to create a personalized space that can serve [...]
SEOUL, Jan. 2 (Korea Bizwire) — With domestic consumption remaining sluggish, South Korean food companies are setting their sights overseas for growth in 2025, capitalizing on the surging global demand for Korean food products through new production facilities and market expansion strategies. CJ CheilJedang, a leading Korean food manufacturer, has unveiled plans to strengthen its presence [...]
GWANGJU, Jan. 2 (Korea Bizwire) — The first funeral for the victims of the fatal Jeju Air plane crash was held Thursday, five days after the disaster at Muan International Airport in southwestern South Korea claimed the lives of 179 people. The first funeral for the victim, whose identity was withheld, occurred at a funeral [...]
SEOUL, Jan. 2 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Thursday it is in the final stage of talks to build a US$160 million bakery plant in Texas under plans to expand its business in North and Latin American markets. SPC is fine-tuning with the City of Burleson in [...]
SEOUL, Jan. 2 (Korea Bizwire) — South Korea’s economy is forecast to expand 1.8 percent this year, the government said Thursday, emphasizing “stable management” as its primary policy focus amid unprecedented levels of uncertainty. The latest projection for Asia’s fourth-largest economy falls below the Bank of Korea’s forecast of 1.9 percent and the estimates of [...]
MUAN, South Korea, Jan. 2 (Korea Bizwire) — Police on Thursday raided Muan International Airport, the office of Jeju Air and other locations over the airline’s deadly crash that killed 179 people. The Jeonnam Provincial Police conducted search and seizure operations into the airport in southwest South Korea, the Seoul office of Jeju Air and [...]