SEOUL, Sept. 25 (Korea Bizwire) – In a significant move to address electronic waste, South Korea’s Ministry of Environment announced on September 24 that it would broaden the scope of its recycling program to encompass a wider range of electronic devices, including Bluetooth earphones, clothes dryers, and electric scooters. The change, set to take effect in [...]
SEOUL, Sept. 25 (Korea Bizwire) — Preparations have been under way for the first exploratory drilling in December for potential oil and gas reserves off the nation’s East Sea, officials said Wednesday. Industry Minister Ahn Duk-geun hosted a meeting with related agencies in Seoul to review the progress of preparations for a project in the [...]
SEOUL, Sept. 25 (Korea Bizwire) — Hyundai Glovis Co., the logistics unit of Hyundai Motor Group, said Wednesday it has signed an initial pact with Chinese electric automaker BYD for partnership in the logistics business. Under the “strategic” memorandum of understanding, the two companies will cooperate in global logistics forwarding services and share vessel space [...]
SEOUL, Sept. 25 (Korea Bizwire) – GS E&C, a leading South Korean construction firm, announced on September 24 the development of an artificial intelligence-powered translation program called Xi Voice to facilitate communication with foreign workers at construction sites. The innovative tool, designed to address the challenges of a multilingual workforce, can convert spoken Korean into text [...]
SEOUL, Sept. 24 (Korea Bizwire) – The U.S. government’s decision to phase out the sale of vehicles using Chinese or Russian software and components in autonomous driving and communication systems has drawn attention to its potential impact on South Korean automakers and parts suppliers. Industry analysts predict that this move by the U.S. administration could prove [...]
SEOUL, Sept. 24 (Korea Bizwire) — South Korean food company CJ Cheiljedang Corp. said Tuesday it will supply its Bibigo dumpling products to Australia’s Qantas Airways Ltd. as in-flight snacks from next month. CJ Cheiljedang’s two kinds of dumpling products — one based on pork and the other made of pork and kimchi — will [...]
SEOUL, Sept. 24 (Korea Bizwire) — Hyundai Motor Co. said Tuesday it has released a revamped version of its high-performance Ioniq 5 N electric vehicle with a suite of convenience features based on customer feedback. The 2025 Ioniq 5 N includes enhancements to its N Drift Optimizer, which assists in drift driving. Hyundai has expanded [...]
SEJONG, Sept. 23 (Korea Bizwire) – A stark revelation about the economic struggles of South Korea’s self-employed population has emerged from recent tax data, showing that nearly 75% of individual business owners reported monthly incomes below 1 million won in 2022. The figures, released by the National Tax Service and analyzed by Representative Park Sung-hoon of [...]
SEOUL, Sept. 23 (Korea Bizwire) – A single report from global investment bank Morgan Stanley has sent shockwaves through the South Korean stock market, underscoring the outsized influence of foreign financial institutions on the country’s equities. On September 20, shares of SK Hynix, the world’s second-largest memory chip maker, closed at 157,100 won after plummeting as [...]
SEOUL, Sept. 23 (Korea Bizwire) — The state-run Korea Electric Power Corp. (KEPCO) said Monday it plans to freeze electricity rates for the fourth quarter. KEPCO said it will keep the adjusted unit fuel cost — a key part of the country’s electricity rates — unchanged at 5 won (US$0.003) per kilowatt-hour for the October-December [...]