SEOUL, Aug. 28 (Korea Bizwire) — A large majority of South Koreans believe government support is crucial to developing venture businesses, underscoring public recognition of startups as key drivers of innovation and economic growth, according to a survey released Tuesday. The poll, conducted by the Korea Venture Business Association between July 14 and 21 with [...]
SEOUL, Aug. 28 (Korea Bizwire) — Hyundai Mobis, the auto parts arm of Hyundai Motor Group, said Tuesday it will enter the automotive semiconductor and robotics markets as part of an effort to secure new growth engines beyond its traditional mobility business. At its annual CEO Investor Day in Seoul, the company outlined a dual-track [...]
SEOUL, Aug. 27 (Korea Bizwire) — Hyundai Motor Group used this week’s Clean Energy Ministerial in Busan to press the case for building out a scalable hydrogen ecosystem, underscoring its ambitions to play a central role in the global energy transition. The three-day forum, which opened Sunday at the city’s BEXCO convention center, drew delegations [...]
SEOUL, Aug. 27 (Korea Bizwire) — Hanwha Group, South Korea’s chemicals-to-shipbuilding conglomerate, said Wednesday it will invest 7 trillion won (US$5 billion) in its shipyard in the United States, following President Lee Jae Myung’s recent summit with U.S. President Donald Trump. The investment aims to significantly boost production capacity at Hanwha Philly Shipyard in Philadelphia [...]
SEOUL, Aug. 27 (Korea Bizwire) — The transport ministry said Wednesday it will ban the use of plastic bags for portable battery storage on airplanes and instead require insulation tape as part of an updated in-flight safety measure for battery packs. The revision, set to take effect on Monday, comes after the government introduced a [...]
JEJU, South Korea, Aug. 27 (Korea Bizwire) — Honeybee populations on Jeju Island are collapsing at alarming rates, with local officials and beekeepers warning that climate change has left colonies increasingly vulnerable to disease and pests. According to data released Tuesday by Jeju Province and the Korea Beekeeping Association, a 2022 survey of 157 apiaries [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea will establish a public-private task force this week to help commercialize Atlantic bluefin tuna, whose catch levels off the country’s east coast have soared in recent years due to warming seas, the Ministry of Oceans and Fisheries said on Tuesday. The council, set to launch Tuesday in [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea will introduce fast-track immigration lanes at Incheon International Airport this week for foreign business executives, in a move aimed at improving the country’s appeal as a hub for international commerce. The Ministry of Land, Infrastructure and Transport and the Ministry of Justice said on August 26 that [...]
SEOUL, Aug. 26 (Korea Bizwire) — Uber announced Tuesday that it will introduce its subscription-based membership program in South Korea next month, escalating competition in the country’s mobility market as rivals race to lock in loyal customers. At a press briefing in Seoul, Uber Taxi Korea head Song Jin-woo said the service, called Uber One, [...]
SEOUL, Aug. 26 (Korea Bizwire) — Korean Air Co. said Tuesday it has signed a US$50 billion agreement to purchase over 100 new planes and aircraft spare engines from Boeing Co. and GE Aerospace during President Lee Jae Myung’s visit to Washington. The deal, the largest in the airline’s history, builds on Korean Air’s previous [...]