SEOUL, Oct. 30 (Korea Bizwire) — An annual conference of South Korean business leaders from around the world is successfully under way in Vienna after its opening ceremony at the Austria Center Vienna earlier this week, organizers said Wednesday. The World Federation of Overseas Korean Traders Association (World-OKTA) opened its 28th leaders’ convention in the [...]
SEOUL, Oct. 30 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it has signed a 610-gigawatt-hour (GWh) power purchase agreement (PPA) with SK E&S Co. and other partners, the latest in its renewable energy transition efforts. The automotive giant said its renewable energy supply deal with SK E&S, Hyundai Engineering & Construction Co., GS E&R [...]
SEOUL, Oct. 30 (Korea Bizwire) — Hyundai Motor Co. on Wednesday unveiled a teaser image of its upcoming all-electric Ioniq 9 sports utility vehicle, highlighting its massive-yet-sleek exterior design. The teaser for the three-row electric SUV presents the overall silhouette and the model’s elongated wheelbase. Hyundai said the Ioniq 9 draws inspiration from the sleek [...]
SEOUL, Oct. 30 (Korea Bizwire) – A government investigation has revealed dramatic price hikes at hotels and lodging facilities during South Korea’s peak summer season, particularly around major music festivals and local cultural events. The Korea Consumer Agency disclosed its findings on October 29 after examining prices at 347 accommodations listed on booking platforms. The investigation [...]
SEOUL, Oct. 30 (Korea Bizwire) – A South Korean court has ruled that redesigning luxury products without permission constitutes trademark infringement, dealing a blow to the growing fashion upcycling industry. The Patent Court of Korea upheld a lower court’s decision against a craftsman who reconstructed Louis Vuitton bags into new designs, ordering him to pay 15 [...]
SEOUL, Oct. 30 (Korea Bizwire) – The South Korean government has announced plans to allow the use of rural temporary shelters on farmland to extend beyond their current 12-year maximum limit, marking a significant shift in rural housing policy. The Ministry of Agriculture, Food and Rural Affairs revealed on October 29 that it would amend the [...]
SEJONG, Oct. 29 (Korea Bizwire) – South Korea’s exports, long considered the backbone of its economy, are showing signs of weakness, amplifying concerns about the country’s economic outlook. The possibility of a Donald Trump victory in the U.S. presidential election, with his promises of aggressive tariff policies, is raising additional concerns about the recovery of exports [...]
SEOUL, Oct. 29 (Korea Bizwire) – Rising sea temperatures and climate change are transforming South Korea’s seafood consumption patterns, with imported seafood increasingly replacing domestic catches on dinner tables as local fish populations decline. Major retailers report that imported seafood now accounts for up to 70% of their seafood sales, as consumers turn to more affordable [...]
BUSAN, Oct. 29 (Korea Bizwire) — A direct flight route connecting South Korea’s regional airport in Busan to Bali, Indonesia, is set to begin service this week as the first long-haul direct line outside the capital area, the city government said Tuesday. Starting Wednesday, a flight will operate between Busan to Bali four times a [...]
SEOUL, Oct. 29 (Korea Bizwire) – Red ginseng products topped the list of most purchased items among Chinese and Japanese tourists at Incheon International Airport’s duty-free shops during the July-September period, Shinsegae Duty Free reported on October 28. According to the company’s analysis, the popularity of red ginseng reflects its status as a representative Korean health [...]