SEOUL, Dec. 12 (Korea Bizwire) – Hyundai Motor’s Ioniq 5 N, its first dedicated electric vehicle under the high-performance “N” brand, has been named “High-Performance Car of the Year” at the 2025 China Car of the Year Awards, the company announced on Monday. The annual awards are among the most prestigious in China’s automotive industry, judged [...]
SEOUL, Dec. 11 (Korea Bizwire) – Samsung Engineering & Architecture (E&A) announced on December 11 that it has received a Letter of Award (LOA) for the Phoenix Bio-Refinery Project in Malaysia. The contract, valued at $955 million (₩1.37 trillion), accounts for 13.6% of the company’s revenue based on its consolidated financial statements from last year. The [...]
SEOUL, Dec. 11 (Korea Bizwire) – CJ OnStyle, a major South Korean home shopping channel, has cut ties with three cable TV operators—D’Live, ABN (Areum Broadcasting Network), and CCS Chungbuk Broadcasting—after negotiations over broadcasting fees collapsed. The unprecedented move has drawn attention, with industry insiders attributing the decision to CJ OnStyle’s strategic pivot toward mobile [...]
SEOUL, Dec. 11 (Korea Bizwire) — Korean Air Co. plans to finalize its acquisition of a controlling stake in rival Asiana Airlines Inc. on Wednesday, completing the merger deal between South Korea’s leading carriers that has been sought over the past four years, according to company officials. Korean Air plans to invest 1.5 trillion won [...]
SEOUL, Dec. 11 (Korea Bizwire) — Finance Minister Choi Sang-mok said Wednesday that the government will continue to closely monitor the market and to fully implement market stabilization measures amid lingering uncertainties from a political crisis. Choi made the remarks during a daily emergency meeting with Bank of Korea Gov. Rhee Chang-yong and other top [...]
SEOUL, Dec. 11 (Korea Bizwire) — The government said Wednesday it will work to enhance the competitiveness of the domestic aviation industry while minimizing potential monopolistic harm from the soon pending merger between Korean Air Co. and Asiana Airlines Inc. The transport ministry announced an aviation industry support plan during a meeting of industries-focused ministries held at [...]
SEOUL, Dec. 11 (Korea Bizwire) — South Korea’s oceans ministry said Wednesday the government will invest 14 trillion won (US$9.75 billion) through 2045 to upgrade Busan Port, aiming to achieve the world’s largest container handling capacity and establish it as the leading logistics hub in the region. Under the plan, South Korea will construct a [...]
SEOUL, Dec. 11 (Korea Bizwire) — The South Korean and American business communities have urged their governments to ensure the stability of business activities of Korean companies in the United States amid rising economic and political uncertainties ahead of Donald Trump’s second term. At the 35th Korea-U.S. Business Council and the U.S.-Korea Business Council in [...]
SEOUL, Dec. 11 (Korea Bizwire) – McDonald’s Korea announced on Tuesday its commitment to converting all packaging materials used in its restaurants to recyclable or renewable materials by next year. This move positions the company as a leader in sustainability within the country’s quick-service restaurant (QSR) industry. As part of this initiative, McDonald’s Korea will introduce [...]
SEOUL, Dec. 11 (Korea Bizwire) – South Korea’s electric vehicle expansion has driven a sharp increase in demand for talent in the secondary battery sector, with job openings more than doubling over the past seven years, according to a government report. The Ministry of Science and ICT revealed that job postings for secondary battery-related roles rose [...]