SEJONG, Oct. 26 (Korea Bizwire) — A major offshore gas development project in the East Sea has been thrown into uncertainty as the South Korean government moves to reassess plans that the state-run Korea National Oil Corporation (KNOC) had been pursuing with British oil giant BP. Industry officials said Sunday that the Ministry of Trade, Industry [...]
SEOUL, Oct. 26 (Korea Bizwire) — Hyundai Engineering & Construction Co. has secured the first U.S. large-scale nuclear power project contract awarded to a South Korean company, a move that could significantly expand its presence in the rapidly growing American nuclear market. The company said Sunday it recently signed a preliminary design agreement with Fermi America, [...]
SEOUL, Oct. 24 (Korea Bizwire) – Hyundai Rotem Co., South Korea’s sole tank manufacturer, said Friday it has signed a memorandum of understanding (MOU) with U.S. artificial intelligence (AI) solutions provider Shield AI to develop AI-based defense technologies. Under the MOU signed Thursday during the 2025 Seoul International Aerospace & Defense Exhibition (ADEX) in Goyang, [...]
SEOUL, Oct. 23 (Korea Bizwire) — Korean Air Co. said Thursday it has completed a $217 million investment in the parent companies of WestJet Airlines Ltd., Canada’s second-largest carrier, as part of a broader push to strengthen its network and partnerships across North America. The deal gives Korean Air a 10% equity stake in Kestrel Topco [...]
SEOUL, Oct. 23 (Korea Bizwire) – At a sprawling convention center in this industrial city, General Motors is trying to make a statement about what comes next. Beneath the fluorescent lights of the Daegu International Future Auto & Mobility Expo, the Detroit automaker has assembled a vision of its electric future — one that is [...]
SEOUL, Oct. 23 (Korea Bizwire) – Gov. Bill Lee of the U.S. state of Tennessee on Thursday met with the head of SK On Co. to discuss ways to enhance cooperation and strengthen ties, industry sources said. Lee visited SK On’s headquarters in central Seoul earlier in the day and had talks with Lee Seok-hee, [...]
SEOUL, Oct. 23 (Korea Bizwire) – New passenger cars and small commercial vehicles in South Korea will be required to be equipped with pedal misuse prevention systems starting in 2029, a move aimed at reducing accidents caused by unintended accelerations, the transport ministry said Thursday. Under the government’s plan to revise the country’s automobile safety [...]
SEOUL, Oct. 23 (Korea Bizwire) — Hyundai’s all-electric Ioniq 9 has received the highest safety rating among large sport utility vehicles in this year’s Korean New Car Assessment Program (KNCAP), while Ford’s Explorer placed last, according to results released Thusday by the Ministry of Land, Infrastructure and Transport and the Korea Transportation Safety Authority. The evaluation [...]
SEOUL, Oct. 23 (Korea Bizwire) — Porsche Korea has unveiled the 911 Spirit 70, a limited-edition reinterpretation of the brand’s classic design heritage, marking its first domestic appearance. The 911 Spirit 70 is the third model in Porsche’s Heritage Design Strategy, blending vintage aesthetics with modern hybrid performance. Based on the 911 Carrera GTS Cabriolet Hybrid, [...]
SEOUL, Oct. 22 (Korea Bizwire) – Korean Air Co. signed a partnership framework with U.S. defense giant Lockheed Martin Corp. on Wednesday to provide follow-on maintenance support for U.S. military aircraft, expanding its role as a key maintenance partner in the Indo-Pacific region. A signing ceremony for the framework took place at the Seoul International [...]