SEOUL, Sept. 5 (Korea Bizwire) – In a move signaling strengthening ties between South Korea and the United States, Lee Jae-yong, the executive chairman of Samsung Electronics, met with a delegation of U.S. senators and the U.S. Ambassador to South Korea, Philip Goldberg, to discuss ways to boost business cooperation between the two countries. The meeting, [...]
SEOUL, Sept. 5 (Korea Bizwire) – Audi, once a dominant player in South Korea’s imported car market, is facing a series of challenges that threaten its position in the country. The German luxury automaker, previously part of the “Big Three” German premium brands alongside BMW and Mercedes-Benz, is grappling with plummeting sales and the closure of [...]
SEOUL, Sept. 5 (Korea Bizwire) – As international travel demand surges, foreign airlines operating in South Korea are facing a consumer complaint rate three times higher than that of domestic carriers, according to a report released on September 4 by the Korea Consumer Agency (KCA). The KCA reported that from last year through the first half [...]
SEOUL, Sept. 5 (Korea Bizwire) — Foreign Minister Cho Tae-yul has said South Korea’s nuclear power plant deal with the Czech Republic will be a “prime opportunity” for the two countries’ relations to advance to a new level, his office said Thursday. Cho made the remark during a meeting with Czech National Security Adviser Tomas [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korean automaker KG Mobility Corp. said Thursday it has partnered with general trading firm STX Corp. to supply over 2,000 Rexton Sports pickup trucks to the Peruvian Army by next year. Under the partnership, KG Mobility’s initial supply to the Peruvian Army will consist of around 400 units [...]
SEOUL, Sept. 5 (Korea Bizwire) – In the wake of a recent fire in an apartment building’s underground parking lot in Incheon, concerns over electric vehicle (EV) safety have led to a significant drop in used EV prices, particularly for imported models. According to data released on September 3 by Chutcha, a popular used car platform [...]
SEOUL, Sept. 5 (Korea Bizwire) – A new study has revealed the stark reality of homeownership in South Korea’s capital, where the average family would need to save their entire income for over a decade to afford a mid-priced apartment. According to data from KB Real Estate Data Hub released on September 3, a household with [...]
SEOUL, Sept. 4 (Korea Bizwire) – The government proposed raising the pension contribution rate to 13 percent from 9 percent and differentiating the pace of raising the contribution rate by age group, Health Minister Cho Kyoo-hong said, in what would be the biggest overhaul of the ailing pension system in 21 years. Details of the [...]
SEOUL, Sept. 4 (Korea Bizwire) – Volvo Trucks, the Swedish commercial vehicle manufacturer, is bringing its latest line of fuel-efficient heavy-duty trucks to the South Korean market. The company announced the domestic launch of its FH Aero lineup at a media briefing held on September 4 in Seongdong-gu, Seoul. The FH Aero is the latest iteration [...]
SEOUL, Sept. 4 (Korea Bizwire) — The automotive industry in South Korea is expected to see strong competition in the midsize sport utility vehicle (SUV) segment in the second half of the year amid new releases in the popular family leisure car market segment. Kia Corp. this week launched its revamped 2025 Sorento SUV with [...]