SEOUL, Sept. 12 (Korea Bizwire) — Hanwha Group, a South Korean defense-to-insurance conglomerate, said Thursday it plans to pay 600 billion won (US$447.8 million) for a controlling stake in the Singaporean offshore plant firm Dyna-Mac Holdings. The group’s two defense and shipbuilding affiliates, Hanwha Aerospace Co. and Hanwha Ocean Co., will make a cash tender [...]
DONGHAE, Sept. 12 (Korea Bizwire) – The coastal city of Donghae in Gangwon Province has launched a series of smart bus shelters equipped with Internet of Things (IoT) technology, marking a significant upgrade to its public transportation infrastructure. City officials announced on September 11 that the new shelters, which go beyond traditional waiting areas, are designed [...]
SEOUL, Sept. 12 (Korea Bizwire) — The Nuclear Safety and Security Commission (NSSC) on Thursday granted a construction permit for two new nuclear reactors on the east coast of South Korea, eight years after the application was submitted. At its regular meeting, the NSSC approved proposals from Korea Hydro & Nuclear Power Co. to build [...]
SEOUL, Sept. 11 (Korea Bizwire) – The financial regulator said Wednesday it will work to strengthen punishment for illegal money lending businesses and nullify their very contracts that are deemed antisocial. The move follows a recent spike in the number of complaints against loan sharks, which jumped from 10,350 in 2022 to 12,884 last year, [...]
SEOUL, Sept.11 (Korea Bizwire) – Coupang, South Korea’s leading e-commerce platform, found itself embroiled in controversy after listings offering to ship live puppies via courier service appeared on its site, sparking outrage among animal rights advocates and raising questions about the company’s content monitoring practices. According to industry sources, two listings appeared on Coupang’s platform on [...]
SEOUL, Sept. 11 (Korea Bizwire) – As inflation continues to squeeze household budgets, South Koreans are turning to secondhand marketplace applications in record numbers, according to a recent study. App and retail analysis service Wise App reported on September 10 that last month saw an all-time high in both installations and active users of major secondhand [...]
SEOUL, Sept. 11 (Korea Bizwire) – In a sign of growing environmental consciousness among South Korean consumers, Hyundai Department Store announced on September 10 that it has sold out of its 10,000 eco-friendly fruit gift sets ahead of the Chuseok holiday. These sets, notably free of plastic packaging, mark a significant shift in the company’s approach [...]
WASHINGTON, Sept. 10 (Korea Bizwire) — The United States will give “lead time” for South Korean companies to adjust their supply chains for connected vehicles, a senior U.S. official said Tuesday, as Washington is pushing for regulations to address security risks stemming from those imported vehicles using certain Chinese components. Under Secretary of Commerce for [...]
YONGIN, Sept. 11 (Korea Bizwire) – Everland, a major theme park and resort complex in South Korea, announced on September 10 that its newly developed rose variety, Perfume Everscape, has demonstrated significant antioxidant properties. The findings were published in the Science Citation Index Expanded (SCIE) international journal, “Chemical and Biological Technologies in Agriculture.” Roses have long [...]
SEOUL, Sept. 11 (Korea Bizwire) – In a significant step towards the future of transportation, POSCO, the South Korean steel giant, has become the world’s first manufacturer to produce specialized steel for hyperloop systems, supplying it to a European test track. On September 10, POSCO announced its participation in the inauguration ceremony of the European Hyperloop [...]