JEJU, Dec. 2 (Korea Bizwire) — South Korea took a major step toward expanding its private-sector space industry on Tuesday as Hanwha Systems opened the nation’s largest commercial satellite manufacturing complex on Jeju Island. The new Hanwha Jeju Space Center, located in Seogwipo’s Hawon Techno Campus, spans 30,000 square meters—roughly the size of four soccer fields—and [...]
SEOUL, Dec. 2 (Korea Bizwire) — President Lee Jae-myung on Tuesday condemned Coupang’s massive data breach and instructed his cabinet to swiftly determine the cause and impose strict accountability, calling the incident “astonishing” both in scale and in the company’s failure to detect the leak for nearly five months. Speaking at a Cabinet meeting in Seoul, [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean small and mid-sized businesses (SMEs) selling on Coupang face higher costs than on other major e-commerce platforms, according to a new industry survey released Tuesday. The Korea Federation of SMEs (KBIZ) said companies that rely on Coupang as their primary online marketplace reported paying fees equal to 20.6 [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korea is bracing for a wave of phone scams and phishing attempts after the recent massive data breach at Coupang exposed names, addresses, phone numbers and portions of purchase histories belonging to nearly all of the e-commerce giant’s customers. Security specialists warn that although the leaked information does not [...]
SEOUL, Dec. 2 (Korea Bizwire) — South Korean food company CJ Cheiljedang Corp. said Tuesday it has partnered with Thailand’s largest retailer, CP Axtra, to expand its K-food business in Southeast Asian markets. CJ Cheiljedang signed a memorandum of understanding (MOU) with CP Axtra, an affiliate of Thai conglomerate CP Group, to introduce an expanded [...]
SEOUL, Dec. 2 (Korea Bizwire) — Arirang 7, South Korea’s multipurpose satellite, has successfully communicated with a ground station after lifting off from a space center in South America, the country’s space agency said Tuesday. Also known as the Korea Multipurpose Satellite 7, the satellite made contact with Russia’s Antarctic ground station at 3:30 a.m. [...]
SEOUL, Dec. 2 (Korea Bizwire) — Global defense revenues reached an all-time high in 2024 as the wars in Ukraine and Gaza fueled a surge in weapons demand, particularly across Europe, according to new data from the Stockholm International Peace Research Institute (SIPRI). South Korea’s leading defense companies continued their rapid ascent, pushing the country into [...]
SEOUL, Dec. 2 (Korea Bizwire) — CJ Mezzomedia, a leading integrated digital marketing firm in South Korea, projects that artificial intelligence will upend nearly every corner of the advertising industry next year, reshaping consumer behavior, media consumption and how brands reach customers. In its newly released “2026 Trend Report,” published Dec. 1, the company identified four [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korea’s five major automakers reported another month of declining global sales in November, underscoring continued weakness in both domestic demand and overseas markets amid a broader economic slowdown. Hyundai Motor, Kia, GM Korea, Renault Korea and KG Mobility sold a combined 668,991 vehicles worldwide last month, down 3.9 percent [...]
SEOUL, Dec. 1 (Korea Bizwire) — Days after Coupang disclosed a data breach affecting some 33.7 million customer accounts, users say they remain in the dark about what personal information was compromised, fueling anger and confusion surrounding one of South Korea’s largest-ever privacy failures. Coupang announced on Nov. 29 that names, email addresses, phone numbers, physical [...]