SEOUL, Nov. 27 (Korea Bizwire) — Daewoo Engineering & Construction (E&C) Co. said Wednesday it has broken ground for a high-rise building project in Hanoi, part of a major urban development initiative in the Vietnamese capital. Daewoo E&C said it held a groundbreaking ceremony for the construction project, named K8HH1, part of Hanoi’s Starlake new [...]
SEOUL, Nov. 27 (Korea Bizwire) – A new survey has revealed that more than three-quarters of South Korean mid-sized companies anticipate increased economic uncertainty when Donald Trump returns to the White House, highlighting growing concerns about potential shifts in U.S. trade and economic policies. The Federation of Middle Market Enterprises of Korea (FOMEK) released the findings [...]
SEJONG, Nov. 27 (Korea Bizwire) – South Koreans experience their largest per-capita financial deficit of 40.78 million won at age 17 and reach their maximum surplus of 17.53 million won at age 43, according to new government data. Labor income begins declining after peaking at 43, leading to a return to deficit spending at age 61. [...]
SEOUL, Nov. 27 (Korea Bizwire) – Toyota Korea announced on November 26 the official launch of its 2025 Camry Hybrid, which will be available at Toyota dealerships nationwide from December 2. The Camry, first introduced to the Korean market in 2009, has been a global favorite for over 40 years due to its high quality and [...]
SEOUL, Nov. 26 (Korea Bizwire) – In a significant push to expand its footprint in Southeast Asia, Hyundai Motor Company has announced a $479 million (approximately 673 billion won) investment in Malaysia. This strategic move aims to capitalize on the region’s burgeoning automotive market, with production beginning in mid-2024. Hyundai will collaborate with local partner Inokom [...]
SEOUL, Nov. 26 (Korea Bizwire) – The number of Korean venture companies surpassing ₩100 billion in annual revenue exceeded 900 for the first time last year, signaling robust growth in the country’s innovation-driven economy, the Ministry of SMEs and Startups announced on Tuesday. The total reached 908 firms in 2023, a 4.5% increase from 869 in [...]
SEOUL, Nov. 26 (Korea Bizwire) – Korean Air announced on Tuesday that it will provide its seasonal “Coatroom Service,” offering free winter coat storage for passengers traveling to warmer destinations, from December 1, 2024, to February 28, 2025. First introduced in 2005, the service allows international passengers departing from Incheon International Airport’s Terminal 2 to store [...]
SEOUL, Nov. 26 (Korea Bizwire) – “All cosmetic samples for just 10,000 won.” Such listings have become increasingly common on Danggeun Market, South Korea’s popular secondhand trading platform, reflecting a growing divide in the nation’s beauty market amid persistent inflation. While some consumers hunt for bargain cosmetics and sample-size products, others flock to luxury brands like [...]
SEOUL, Nov. 26 (Korea Bizwire) — Hanwha Aerospace Co. said Tuesday it has won a 473 billion-won (US$336.6 million) contract from Korea Aerospace Industries Ltd. to supply components for South Korea’s next-generation KF-21 fighter jets. Under the deal, Hanwha Aerospace will supply key components, including the auxiliary power unit, as well as propulsion, landing, drive [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s exports of dried seaweed products have already reached a new annual high this year, driven by growing global demand for healthier foodstuffs, data showed Tuesday. Outbound shipments of dried seaweed, called “gim” in Korean, reached US$850 million during the January-October period, already surpassing the previous annual record [...]