SEOUL, Aug. 26 (Korea Bizwire) — Tesla announced Tuesday that it will formally launch its long-awaited Cybertruck in South Korea, underscoring growing demand for high-end electric vehicles in one of the world’s most tech-savvy markets. Two trims will be offered: the all-wheel-drive (AWD) model, with an estimated range of 520 kilometers, and the Cyberbeast, with [...]
SEOUL, Aug. 26 (Korea Bizwire) — More than eight out of 10 bond traders expect the central bank to keep its policy rate steady this week amid housing market instability and increased volatility in the foreign exchange market, a survey showed Tuesday. According to the survey conducted by the Korea Financial Investment Association last week, [...]
SEOUL, Aug. 26 (Korea Bizwire) — HD Hyundai Co., South Korea’s leading shipbuilding conglomerate, said Tuesday it has signed an initial agreement to create a joint investment program aimed at rebuilding the U.S. shipbuilding industry, as part of bilateral cooperation between Seoul and Washington. The memorandum of understanding (MOU) was signed in Washington on Monday [...]
SEOUL, Aug. 26 (Korea Bizwire) — Samsung Heavy Industries Co., a major shipbuilder in South Korea, said Tuesday it has signed a strategic partnership with the United States’ Vigor Marine Group to cooperate on maintenance, repair and overhaul (MRO) of U.S. naval support ships. The company said it will actively participate in the U.S. Navy’s MRO [...]
SEOUL, Aug. 26 (Korea Bizwire) — South Korea’s automotive giant Hyundai Motor Group has decided to increase to US$26 billion its investment commitment to the United States over the next four years, with a focus on steel, automobiles and robotics, the group said Tuesday. The investment, which was unveiled following President Lee Jae Myung’s first [...]
SEOUL, Aug. 26 (Korea Bizwire) — A new breed of company, built on hoarding cryptocurrencies as core assets, is reshaping stock markets from the United States to Japan — and now South Korea. But the meteoric rise of these so-called Crypto Treasury Companies (CTCs) has triggered debate over whether they represent innovative investment vehicles or dangerous [...]
SEOUL, Aug. 25 (Korea Bizwire) – Unionized workers of Hyundai Motor Co. on Monday voted in favor of launching a strike to demand higher pay, the union said, a move that could lead to the company’s first walkout in seven years. In a daylong vote, 86.15 percent of members supported the strike plan, with nearly [...]
SEOUL, Aug. 25 (Korea Bizwire) — Hyundai Motor Co. and its luxury brand Genesis said Monday they have been named leading carmakers in terms of technology experience by U.S. market research firm J.D. Power. Hyundai ranked first for the sixth consecutive year among mass-market brands in the 2025 U.S. Tech Experience Index (TXI) study, scoring [...]
SEOUL, Aug. 25(Korea Bizwire) — Hanwha Ocean Co., a major South Korean shipbuilder, will invest an additional US$70 million “to expand” its shipyard in Philadelphia, according to the White House’s website Monday. Hanwha Group acquired Philly Shipyard for 140 billion won (US$100 million) last year to enter the U.S. shipbuilding market, with a long-term goal [...]
SEOUL, Aug. 25(Korea Bizwire) — TerraPower LLC, a nuclear power startup founded by Bill Gates, has expressed hope for closer business ties with SK Group, the country’s No. 2 conglomerate said Monday. TerraPower expressed such a hope in a meeting between Gates and SK Group Chairman Chey Tae-won, held in Seoul last week, where the [...]