SEOUL, Oct. 10 (Korea Bizwire) — Foreign investors sold the largest amount of Korean stocks in over 3 years in September amid escalating geopolitical risks and skepticism over the artificial intelligence (AI) sector, central bank data showed Thursday. Offshore investors sold a net US$5.57 billion worth of local stocks last month, following $1.85 billion worth [...]
POHANG, Oct. 10 (Korea Bizwire) – The coastal city of Pohang in North Gyeongsang Province is actively pursuing Costco, the American multinational wholesale corporation, in a bid to boost its local economy and improve living conditions for its residents. However, the potential location of the store has become a topic of debate among citizens and officials [...]
SEOUL, Oct. 10 (Korea Bizwire) – Hyundai’s high-performance electric vehicle, the Ioniq 5 N, has received overwhelmingly positive reviews in a comparison test against Tesla’s competing model, according to a recent poll by a British automotive magazine. Car Magazine, a respected publication in the UK automotive press, released a YouTube video on September 18 featuring a [...]
SEOUL, Oct. 10 (Korea Bizwire) – Samsung C&T, a major player in South Korea’s construction industry, announced on October 9 the launch of its new building platform, Bynd, marking a significant step in the company’s expansion into digital space innovation. The platform integrates various services essential for commercial buildings, leveraging cutting-edge technologies such as generative artificial [...]
SEOUL, Oct. 10 (Korea Bizwire) – Three key South Korean government bodies announced on October 9 that they will initiate a bidding process for a consultancy project aimed at establishing guidelines for a Digital Product Passport (DPP) response platform. The Ministry of Trade, Industry and Energy, the Digital Platform Government Committee, and the Ministry of Science [...]
SEOUL, Oct. 9 (Korea Bizwire) — The number of imported electric vehicles (EVs) newly registered in South Korea fell 40.1 percent on-year over the August-September period, data showed Wednesday, amid the public’s lingering concerns over their safety. According to data compiled by the Korea Automobile Importers & Distributors Association, 6,868 imported EVs were newly registered [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s top four conglomerates accounted for more than 40 percent of the country’s annual gross domestic product (GDP) in 2023, data showed Wednesday. The combined sales of the four family-controlled groups — Samsung, SK, Hyundai Motor and LG — reached 980.5 trillion won (US$729 billion) in 2023, accounting [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea’s peak electricity demand hit a new record in September, as the scorching summer heat extended into the autumn season, data showed Wednesday. The country’s peak power demand last month averaged 78 gigawatts, a 6 percent increase from a year earlier, according to the Korea Power Exchange, marking [...]
SEOUL, Oct. 9 (Korea Bizwire) — South Korea will be included in a key global government bond index run by FTSE Russell, starting in November next year, the London-based organization has said, a decision expected to help it attract significant foreign investment. The country will be added to the FTSE Russell’s World Government Bond Index [...]
SEOUL, Oct. 9 (Korea Bizwire) – South Korea’s job market presented a mixed picture in the first half of 2024, with significant job losses in construction and retail sectors contrasting with growth in social welfare and software development, according to a report released by Statistics Korea on October 8. The “Regional Employment Survey: Industrial and Occupational Characteristics [...]