SEOUL, Aug. 28 (Korea Bizwire) — Children’s bicycles sold here by Chinese online platform AliExpress have been found to contain a hazardous substance exceeding the South Korean standard by about 260 times, the Seoul city government said Wednesday. The city government said it has conducted a safety examination on 16 kinds of children’s products sold [...]
SEOUL, Aug. 28 (Korea Bizwire) – The South Korean film industry, once a powerhouse of global cinema, is facing a severe downturn as major studios dramatically cut back on new productions. This reduction threatens to plunge the already struggling industry into a deeper crisis, with experts predicting a significant decrease in commercial films hitting theaters in [...]
SEOUL, Aug. 28 (Korea Bizwire) — Samsung SDI Co., a South Korean battery maker, said Wednesday it has signed a formal deal with global automaker General Motors Co. to jointly build electric vehicle (EV) batteries in the U.S. state of Indiana. Under the deal, the two companies will invest a combined US$3.5 billion to build [...]
SEOUL, Aug. 27 (Korea Bizwire) — The government’s proposal of maintaining a tight budget in 2025 illustrated its commitment to fiscal policy normalization amid the tax revenue shortfall, but calls for greater fiscal policy roles have also grown in the face of weak domestic demand and longer-term growth momentum, experts said Tuesday. The finance ministry [...]
SEOUL, Aug. 26 (Korea Bizwire) – Chinese e-commerce platform AliExpress announced on August 26 that it has implemented protective measures for more than 8,500 Korean brands from December of last year to July of this year, primarily through blocking counterfeit products. AliExpress has intensified efforts to protect and manage intellectual property rights to safeguard the interests [...]
SEOUL, Aug. 26 (Korea Bizwire) – In the wake of a devastating electric vehicle (EV) fire in Incheon, South Korean automakers and consumers are turning their attention to early warning systems designed to detect battery abnormalities. These systems are being hailed as a practical fire prevention measure, capable of alerting drivers to potential issues before they [...]
POHANG, Aug. 26 (Korea Bizwire) – On a sweltering August day, the POSCO steel mill in Pohang hums with activity. But it’s not just human workers feeling the heat — artificial intelligence is taking on some of the most challenging and dangerous tasks in this sprawling industrial complex. At a product inspection area about 15 minutes [...]
SEOUL, Aug. 26 (Korea Bizwire) — Bhc chicken, South Korea’s largest chicken franchise by sales, opened its seventh outlet in Malaysia on Monday as part of its overseas expansion strategy. The seventh store is located at the Elmina Lakeside Mall near the Southeast Asian country’s capital city of Kuala Lumpur, the company said in a [...]
SEOUL, Aug. 26 (Korea Bizwire) – The combined debt of the South Korean government and households has surged past 3 quadrillion won for the first time, according to recent data from the Ministry of Economy and Finance and the Bank of Korea. This milestone, reached at the end of the second quarter, equates to 127% of [...]
SEJONG, Aug. 25 (Korea Bizwire) – POSCO Future M, the battery materials arm of the POSCO Group, is set to divest its entire stake in P&O Chemical, a joint venture with OCI, effectively exiting the business. According to industry insiders, POSCO Future M’s board is expected to meet on August 26 to approve the sale of [...]