INCHEON, Aug. 22 (Korea Bizwire) –“Normal life still feels far away,” sighed an individual referred to only as Hwang, 44, as he sat in a temporary shelter at the Korean Red Cross Northwest Service Center in Cheongna-dong, Seo-gu, Incheon. It’s been nearly three weeks since an electric vehicle fire in an apartment complex forced hundreds [...]
SEOUL, Aug. 22 (Korea Bizwire) – SK Innovation, a leading South Korean energy and chemical company, conducted a groundbreaking oil spill response drill on August 20 at its SK pier near the Ulsan Complex, the company announced on August 21. This marks the first time a private company in South Korea has employed robotics in such [...]
SEOUL, Aug. 22 (Korea Bizwire) –Kia Motors, the South Korean automaker, announced on August 21 a comprehensive plan to address safety concerns and boost customer confidence in its electric vehicles (EVs). The initiative, dubbed the Electric Vehicle Customer Care Plan, includes several key measures aimed at enhancing safety and transparency for Kia’s EV customers. Effective [...]
SEOUL, Aug. 22 (Korea Bizwire) – South Korean banks saw their combined net income shrink sharply from a year earlier in the first half, due largely to a drop in the profit of specialized banks, data showed Thursday. The combined net profit of domestic banks for the first six months of the year came to [...]
SEOUL, Aug. 22 (Korea Bizwire) –Car output fell more than 17 percent on-year in July due to weak domestic demand and partial strikes at some companies, industry data showed Thursday. According to the Korea Automobile & Mobility Association, the total production volume of five automakers last month totaled 290,910 units, down 17.6 percent from [...]
SEOUL, Aug. 21 (Korea Bizwire) – In a bold fusion of tradition and technology, a new ‘K-convenience store’ has opened its doors in Seoul’s historic Insadong district, offering visitors a unique blend of Korean culture and cutting-edge retail experiences. GS Retail, the operator of the GS25 convenience store chain, unveiled its latest venture, Ground Blue 49, [...]
SEOUL, Aug. 21 (Korea Bizwire) – While South Korea’s beer and whisky markets have recently experienced a downturn, Japanese products are bucking the trend with growing popularity, according to recent customs data. From January to July ofthis year, imports of Japanese beer surged to $37.77 million, a 66% increase compared to the same period last year, [...]
SEOUL, Aug. 21 (Korea Bizwire) – Hyundai Rotem, a leading South Korean railway equipment manufacturer, has reported a record-breaking order backlog in its rail division, securing approximately eight years of work ahead. The company is now setting its sights on additional high-speed rail contracts while reinforcing its production facilities to ensure timely deliveries. As of the [...]
SEOUL, Aug. 21 (Korea Bizwire) – In the wake of electric vehicle (EV) fire controversies, lithium iron phosphate (LFP) batteries are gaining attention in the global market. Known for their stability and cost-effectiveness, LFP batteries are seeing steady demand compared to their premium counterparts, nickel-cobalt-manganese (NCM) batteries. However, South Korean battery manufacturers find themselves in a [...]
SEOUL, Aug. 21 (Korea Bizwire) — The combined market share of electric vehicles produced by South Korea’s Hyundai Motor Co. and Kia Corp. in the United States ranked second in the January-July period, outperforming local manufacturers Ford Motor Co. and General Motors Co., an industry report showed Wednesday. In the report from Automotive News, citing [...]