SEOUL, Dec. 31 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will become the largest shareholder in a South Korean robotics startup, Rainbow Robotics, as part of its push for advancing robotics technologies including humanoid robots. The tech giant increased its stake in Rainbow Robotics to 35 percent by exercising a call option on [...]
SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Motor Company and Kia Corporation announced on December 30 the launch of their Integrated Global Information System (IGIS), marking a significant advancement in their carbon emissions management capabilities. The newly developed IGIS represents a comprehensive approach to tracking carbon emissions throughout a vehicle’s entire life cycle, from raw material [...]
SEOUL, Dec. 31 (Korea Bizwire) — Concerns are mounting within the low-cost carrier (LCC) industry that the image of budget airlines could be tarnished in the wake of the recent Jeju Air crash, according to industry watchers Tuesday, with industry players fearing a decline in demand for air travel. “It’s a somber atmosphere across the entire [...]
SEOUL, Dec. 31 (Korea Bizwire) — Acting President Choi Sang-mok on Tuesday directed the government to address necessary improvements to the airline operation system, as the country mourns a tragic plane crash that claimed 179 lives. Choi’s order comes after the Jeju Air plane, carrying 181 people, belly-landed and exploded at an airport in the [...]
MUAN, South Korea, Dec. 31 (Korea Bizwire) — The remains of 174 of the 179 people killed in this week’s Jeju Air plane crash have tentatively been identified, the land ministry said Tuesday. During a briefing for victims’ families at Muan International Airport in the county 288 kilometers south of Seoul, the ministry said it [...]
SEOUL, Dec. 31 (Korea Bizwire) — A special inspection to ensure the safety of military aircraft is under way as the defense ministry has ordered the military to examine all aircraft following the fatal Jeju Air crash, officials said Tuesday. The Navy has kicked off a safety inspection that will run through Saturday to examine [...]
SEOUL, Dec. 31 (Korea Bizwire) — A team of investigators from the U.S. government and aircraft manufacturer Boeing Co. have arrived at the site of the Jeju Air crash at Muan International Airport to participate in the investigation into the incident, Seoul officials said Tuesday. According to Seoul’s transport ministry, one member from the U.S. Federal Aviation [...]
DAEJEON, Dec. 31 (Korea Bizwire) —The Korea Railroad Corporation (Korail) announced on Friday that its real-time train location service was ranked the top offering of 2024 in a public poll. The service allows passengers to track the current location and estimated arrival time of all trains on a dedicated map in real time. The poll, [...]
SEJONG, Dec. 30 (Korea Bizwire) — South Korea’s economy has entered uncharted waters as Deputy Prime Minister Choi Sang-mok assumes the role of acting president following the impeachment of Prime Minister Han Duck-soo, who had been serving as acting president. The markets, which had barely weathered the shock of the December 3 martial law declaration by [...]
SEOUL, Dec. 30 (Korea Bizwire) — As the won-dollar exchange rate soars to nearly 1,500 won, small and medium-sized enterprises (SMEs) in South Korea are grappling with mounting challenges, including volatile currency markets and the looming enforcement of stricter labor regulations. The steep rise in the exchange rate—up from the 1,300-won range earlier this year—has [...]