SEOUL, Oct. 15 (Korea Bizwire) – Revenue from shared accommodation in South Korea has increased more than tenfold over the past three years, with nearly half of the total income generated by individuals in their 20s and 30s, according to a recent analysis of National Tax Service data. Representative Cha Gyu-geun of the Rebuilding Korea Party [...]
SEOUL, Oct. 15 (Korea Bizwire) – As the race to dominate the future of the automotive industry intensifies, with a focus on electrification and software-defined vehicles (SDVs), a wave of strategic partnerships is reshaping the global automobile market. Industry analysts suggest these alliances are largely driven by a shared concern: the need to respond to China’s [...]
WASHINGTON, Oct. 14 (Korea Bizwire) — This year’s Nobel economics prize laureates on Monday applauded South Korea’s economic rise, a key subject of their research, but pointed out a set of challenges ahead, including the fast-graying population of Asia’s fourth largest economy. They also drew a stark contrast between the economic backwater of North Korea [...]
SEOUL, Oct. 15 (Korea Bizwire) — Container shipping costs from South Korea to China rose for the eighth consecutive month in September, the customs agency said Tuesday. The average shipping cost for a 40-foot container from South Korea to China climbed 17.6 percent on-month to 862,000 won (US$634.48) last month, according to the data from [...]
SEOUL, Oct. 15 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Tuesday its bakery brand Paris Baguette has opened its 600th overseas outlet in Canada as part of its global expansion strategy. SPC has opened 30 outlets in North America this year, bringing the total in the mainstay markets to [...]
SEOUL, Oct. 15 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co., a major South Korean shipyard, said Tuesday it has secured a 339.6 billion-won (US$250 million) order to build two very large ammonia carriers (VLACs) from an Oceanian shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will [...]
SEOUL, Oct. 15 (Korea Bizwire) – In a collaborative effort to improve access to public transportation for older residents in underserved areas, South Korean authorities and industry leaders have joined forces to expand a Demand-Responsive Transport (DRT) bus system. On October 14, the National Police Agency, the National Association of Mayors, and Hyundai Motor signed a [...]
SEOUL, Oct. 14 (Korea Bizwire) — KG Mobility Corp. and Renault Korea Motors Co. have made strong challenges with their new models in the midsize SUV segment, which has been largely dominated by Hyundai Motor Group, according to industry data Monday. According to the Korea Automobile & Mobility Industry Association, KG Mobility’s Actyon and Renault [...]
SEOUL, Oct. 14 (Korea Bizwire) — Kia Corp. said Monday it has released a revamped version of its Carnival minivan model with a suite of improved safety and convenience features along with upgraded value proposition. Kia has reinforced the steering control system of the Carnival to improve the model’s lane-keeping assistance feature, and has added [...]
SEJONG, Oct. 14 (Korea Bizwire) — The chief of the state-run Korea Electric Power Corp. (KEPCO) on Monday emphasized the importance of raising electricity bills to maintain investment in essential infrastructure and ensure the sustainability of the sector’s ecosystem. “We need to bolster the power grid on time to support the innovative growth of the [...]