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 [...]
BUSAN, Oct. 8 (Korea Bizwire) – Rising sea temperatures and deteriorating fishing conditions are driving a wave of closures among South Korea’s offshore fishing vessels, with more than half of the fleet considering decommissioning. The National Federation of Fisheries Cooperatives for Large Trawlers announced on October 7 that 74 out of 136 vessels in its fleet have [...]
SEOUL, Oct. 8 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it will host a unique motorsport event in partnership with Toyota Motor Co. later this month in South Korea featuring high-performance models and racing vehicles from both companies. The Hyundai N x Toyota Gazoo Racing Festival will be held at Everland Speedway in Yongin, [...]
SEOUL, Oct. 8 (Korea Bizwire) – A concerning number of traffic accidents have occurred while vehicles were operating under Adaptive Cruise Control (ACC), a feature designed to maintain a set speed and distance from the car ahead, according to recent data from the Korea Expressway Corporation. The report, released on October 7 by Democratic Party lawmaker Park [...]
SEOUL, Oct. 7 (Korea Bizwire) – In an era of rapid technological advancement, South Korean medical professionals are increasingly turning to digital therapeutics and so-called “electronic medicine” to treat and manage various health conditions without traditional pharmaceuticals. Last month, Dr. Kang Dong-wha, a neurologist at Seoul Asan Hospital, prescribed a digital therapeutic device called VIVID Brain to [...]
SEOUL, Oct. 7 (Korea Bizwire) — Mercedes-Benz car dealers in South Korea have apparently been trained by the company’s local unit to tell customers that the automaker used battery cells produced exclusively by CATL in its electric vehicle (EV) models. In the 2023 EQ Sales Playbook, Mercedes-Benz Korea’s official dealer training material, dealers were instructed [...]
SEOUL, Oct. 7 (Korea Bizwire) – As the global electric vehicle (EV) market grapples with a drop in demand, South Korea’s battery industry is struggling to emerge from a prolonged slump. Increasingly, these companies are turning to U.S. tax incentives to bolster their financial performance. According to industry analysts, the three major South Korean battery manufacturers — [...]
SEOUL, Oct. 7 (Korea Bizwire) — The top three bestselling car models in South Korea during the first nine months of the year were all found to be those of Kia Corp., industry data showed Monday. According to industry sales data, Kia dominated the top three spots in cumulative domestic sales during the January-September period. [...]