SEOUL, Dec. 4 (Korea Bizwire) — Major South Korean conglomerates kept busy Wednesday trying to evaluate their business conditions amid uncertainties in the wake of a short-lived declaration of emergency martial law that sent ripples through the financial market. Key players in the business sector, including Samsung Group, SK Group and LG Group, held emergency [...]
SEOUL, Dec. 4 (Korea Bizwire) – SK Bioscience has prevailed in an appellate court ruling against Pfizer’s subsidiary, Wyeth LLC, in a patent infringement lawsuit concerning the export of pneumococcal vaccine components to Russia. The Patent Court of Korea overturned a lower court decision, ruling that SK Bioscience’s supply of the 13-valent pneumococcal conjugate vaccine [...]
SEOUL, Dec. 4 (Korea Bizwire) – South Korea’s consumer protection agency revealed on December 3 that many biodegradable plastic products are being marketed with misleading claims that don’t match their actual certifications, potentially confusing consumers about their environmental impact. The Korea Consumer Agency (KCA) examined online advertisements for 80 biodegradable plastic products currently available in the [...]
SEOUL, Dec. 3 (Korea Bizwire) – Asiana Airlines announced that starting January 2, 2025, passengers will be required to stow their carry-on luggage in the overhead bins themselves, a policy change aimed at preventing injuries to both passengers and crew. Previously, flight attendants assisted passengers upon request, but frequent incidents of crew injuries, such as bruises [...]
SEOUL, Dec. 3 (Korea Bizwire) – Hyundai Motor Co. and its smaller affiliate, Kia Corp., said Tuesday they will launch a five-year joint project with three Indian colleges starting next year to develop battery and automation technologies. Hyundai and Kia set up the Hyundai Center of Excellence together with India’s three leading engineering colleges to [...]
SEOUL, Dec. 3 (Korea Bizwire) – South Korea’s duty-free sector is grappling with declining performance as foreign tourists increasingly favor road shops and specialty stores, such as health and beauty retailer Olive Young, over traditional duty-free outlets. This trend was highlighted at the “2025 Retail Industry Outlook Seminar” held by the Korea Chamber of Commerce [...]
SEOUL, Dec. 3 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Tuesday it is considering buying General Motors Co.’s stake in their joint venture battery plant in Michigan. “The company is considering acquiring the Ultium Cells JV 3 plant in Lansing, Michigan, to effectively operate its U.S. plants and [...]
SEOUL, Dec. 3 (Korea Bizwire) – Amid years of declining traditional retail sales, warehouse clubs are emerging as bright spots in South Korea’s brick-and-mortar retail landscape. E-mart’s Traders and Costco Korea are bucking the trend of offline retail struggles and inflation-driven consumer caution, primarily through their bulk-sale, low-price business model. According to data from E-mart released [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean battery maker LG Energy Solution Ltd. (LGES) said Tuesday it has signed a deal with General Motors Co. to develop prismatic battery cells. Under the agreement, the companies will jointly develop prismatic battery cell technology and affiliated battery materials or “chemistries.” Once developed, the prismatic battery cells [...]
SEOUL, Dec. 3 (Korea Bizwire) – Hyundai Motor Company has solidified its position in global motorsport by achieving significant milestones in the World Rally Championship (WRC) and setting its sights on endurance racing with the Genesis luxury brand. The WRC, organized by the Fédération Internationale de l’Automobile (FIA), is one of the most demanding motorsport [...]