SEOUL, Dec. 24 (Korea Bizwire) — More than seven in 10 foreign nationals running small businesses in South Korea are Chinese, highlighting the growing role of Chinese entrepreneurs in the country’s local service economy, according to a new report released Tuesday. An analysis by the Korea Immigration Policy Institute found that Chinese nationals accounted for 72.5 [...]
SEOUL, Dec. 23 (Korea Bizwire) — Hyundai Motor Group said on Tuesday that it placed more vehicles at the top of the latest U.S. crash safety ratings than any other global automaker this year, underscoring the company’s growing emphasis on safety as a core competitive strength. According to results released by the Insurance Institute for Highway [...]
SEOUL, Dec. 23 (Korea Bizwire) — A special counsel team raided a subsidiary of e-commerce giant Coupang Inc. on Tuesday, launching a compulsory investigation into allegations of unpaid severance pay for employees and senior prosecutors’ intervention in favor of the management. Special counsel Ann Gweon-seob sent prosecutors and investigators to the office of Coupang Fulfillment [...]
SEOUL, Dec. 23 (Korea Bizwire) — The South Korean government on Tuesday laid out a five-year strategy aimed at overhauling the country’s chemical industry, betting that a shift toward high-value and environmentally friendly products will help it fend off mounting competition and chronic oversupply from China. Under the plan, announced by the Ministry of Trade, [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s Constitutional Court has upheld provisions of the Road Traffic Act requiring users of electric scooters and other personal mobility devices to hold a driver’s license and wear protective gear, ruling that the measures do not violate the Constitution. According to legal officials on Monday, the court unanimously dismissed [...]
SEOUL, Dec. 23 (Korea Bizwire) — Samsung SDI Co. said Tuesday it has agreed with KG Mobility Corp. to jointly develop advanced battery pack technologies for electric vehicles (EVs) with enhanced safety and durability. The South Korean battery maker signed a memorandum of understanding with KG Mobility to develop EV battery pack technologies utilizing 46-series [...]
SEOUL, Dec. 23 (Korea Bizwire) — Samsung Bioepis Co., a biosimilar drug developer under Samsung Group, said Tuesday it has received approval to sell its biosimilar treatment for autoimmune disease in Japan. The biosimilar, which references U.S. biotechnology firm Johnson & Johnson’s original drug Stelara, was approved under the product name Ustekinumab BS Subcutaneous Injection [...]
SEOUL, Dec. 23 (Korea Bizwire) — Nongshim Co., South Korea’s leading instant noodle maker, said Tuesday it has opened its fourth overseas “experience space” for “ramyeon” products at John F. Kennedy International Airport in New York. The U.S. outlet follows earlier openings of Shin Ramyun Bunsik in Ho Chi Minh City, Vietnam, in August; Harajuku, [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korea’s homegrown KF-21 fighter jets under development will be fitted with air-to-ground capabilities starting in 2027, ahead of schedule, the state arms procurement agency said Tuesday. The plan comes as authorities plan to spend around 700 billion won (US$472 million) to conduct a series of tests involving 10 [...]
SEOUL, Dec. 23 (Korea Bizwire) — Senior South Korean officials on Monday pledged to speed the adoption of artificial intelligence across the agriculture and food sectors, positioning so-called “physical A.I.” as a key response to rural labor shortages and an aging farming population. Bae Kyung-hoon, the deputy prime minister and minister of science and information and [...]