SEOUL, Jan. 15 (Korea Bizwire) — South Korea’s Supreme Court has ordered Pizza Hut Korea to refund 21.5 billion won (about $16 million) to franchise owners, ruling that the company illegally collected undisclosed margin-based fees without explicit contractual consent—a decision expected to reverberate across the country’s franchise industry. In a final ruling issued Thursday, the Supreme [...]
SEOUL, Jan. 15 (Korea Bizwire) — Samsung Epis Holdings, the holding company of biosimilar drug maker Samsung Bioepis, said it plans to expand its biosimilar lineup to 20 products by 2030, signaling a more aggressive push to scale its global drug portfolio while branching into novel therapies. Kim Kyung-ah, president and chief executive of Samsung Epis [...]
SEOUL, Jan. 15 (Korea Bizwire) – The Palisade sport utility vehicle (SUV) of Hyundai Motor Co. has been recognized by leading automotive reporters in the United States and Canada as one of the best SUVs on the market, the South Korean automaker said Thursday. The Palisade was among the recipients of the 2026 North American [...]
SEOUL, Jan. 15 (Korea Bizwire) — Nearly one in three mid-sized companies in South Korea say regulatory burdens intensify and government support diminishes as they grow, hampering their ability to scale up, according to a new business survey released Wednesday. The findings, published by the Korea Employers Federation (KEF), highlight mounting concerns that the country’s so-called [...]
SEOUL, Jan. 14 (Korea Bizwire) — POSCO Group said it is expanding the use of industrial robots across its electric-vehicle components business through a partnership with Yaskawa Electric, as it seeks to accelerate automation and boost production efficiency in key growth markets. The group’s auto-parts unit, POSCO Mobility Solution, signed a cooperation agreement on Wednesday at [...]
SEOUL, Jan. 14 (Korea Bizwire) — Samsung Biologics, the biotechnology arm of Samsung Group, said Wednesday it is weighing construction of a sixth manufacturing plant in South Korea and further expansion of its U.S. operations this year, underscoring its push to scale up as global demand for biologic drugs rises. The potential expansion would support [...]
SEOUL, Jan. 14 (Korea Bizwire) — Hanwha Corp., the de facto holding company of Hanwha Group, said Wednesday it will split its operations to create a new holding company for its technology and lifestyle businesses, while keeping its defense and shipbuilding units under the existing corporate structure—a move aimed at improving governance and sharpening strategic [...]
SEOUL, Jan. 13 (Korea Bizwire) — Unionized city bus drivers in Seoul began an indefinite strike early Tuesday after marathon wage talks with management collapsed, bringing all intracity bus services to a halt and raising fears of widespread commuting disruptions in the capital. Negotiations stretched for more than 10 hours into the early morning, but ended [...]
SEOUL, Jan. 13 (Korea Bizwire) – Genesis, the independent luxury brand of Hyundai Motor Group, on Tuesday launched the GV60 Magma, its first high-performance electric vehicle (EV), in South Korea, the company said. The GV60 Magma delivers the strongest performance among Genesis EV models, accelerating from zero to 200 kilometers per hour (kph) in 10.9 [...]
SEOUL, Jan. 13 (Korea Bizwire) – Around 40 percent of South Korean manufacturers expect economic conditions to deteriorate this year amid increased volatility in the foreign exchange (FX) market, a poll showed Tuesday. According to the poll conducted recently by the Korea Chamber of Commerce and Industry (KCCI) on 2,208 manufacturing firms, a total of [...]