SEOUL, Jan. 27 (Korea Bizwire) – POSCO Future M, the battery materials unit of South Korean steelmaker POSCO Holdings Inc., said Tuesday it has invested in U.S. battery firm Factorial Inc. as part of a partnership to develop all-solid-state batteries (ASBs). The investment aims to help Factorial commercialize ASBs and allow POSCO Future M to [...]
SEOUL, Jan. 27 (Korea Bizwire) – SK Innovation E&S, the energy unit of South Korea’s SK Group, said Tuesday it has begun production at an offshore gas field in Australia in which it invested 14 years ago. The initial cargo of liquefied natural gas (LNG) produced at the Barossa gas field, located about 300 kilometers [...]
SEOUL, Jan. 27 (Korea Bizwire) – The South Korean government said Tuesday that it had received a formal letter from the United States urging swift implementation of a bilateral tariff agreement, a move that comes as President Donald Trump signaled a tougher trade stance toward one of Washington’s closest Asian allies. The confirmation followed Mr. [...]
JEJU, South Korea, Jan. 27 (Korea Bizwire) — Citrus fruit grown entirely with renewable energy has entered the market for the first time in South Korea, as Jeju Island moves to extend its clean-energy transition into agriculture. The provincial government on Monday officially launched what it calls “RE100 citrus,” produced using only self-generated renewable power throughout [...]
SEOUL, Jan. 27 (Korea Bizwire) — South Korea’s whiskey market is showing clear signs of polarization as prolonged inflation and a weak won reshape consumer behavior, with shoppers increasingly gravitating toward either budget bottles or high-end labels while shunning midpriced options. Data released Monday by major supermarket chains indicate that sales of whiskeys priced under 30,000 [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s General Motors unit is facing legal resistance from its labor union over plans to shut down company-run repair centers, a move workers say threatens both labor agreements and consumer safety. The GM Korea Branch of the Korean Metal Workers’ Union said Monday it has filed for a court [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s trade with Vietnam continued to deepen last year, with the Southeast Asian nation holding its position as Korea’s third-largest trading partner for a fourth consecutive year, underscoring the growing importance of export diversification beyond China and the United States. According to data released Monday by the Ministry of [...]
SEOUL, Jan. 26 (Korea Bizwire) – Hyundai Motor Group Executive Chair Euisun Chung will join a South Korean government-led delegation to support Seoul’s defense cooperation with Canada, including Ottawa’s submarine acquisition project, industry and government sources said Monday. Chung is scheduled to depart for Canada in connection with the mission, according to the sources. The [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korea’s antitrust watchdog said Monday that it has decided to block a Singapore-based private equity fund (PEF) from acquiring the country’s largest vehicle rental company, citing concerns that the deal would significantly restrict market competition. Careena Transportation Group Ltd., controlled by private equity firm Affinity Equity Partners, has been [...]
SEOUL, Jan. 26 (Korea Bizwire) — South Korea’s appetite for coffee is proving increasingly costly. The country’s coffee import bill jumped sharply last year, surpassing 2 trillion won for the first time, as global bean prices climbed to record levels amid climate-related supply disruptions, government data showed Sunday. According to the Korea Agro-Fisheries & Food Trade [...]