SEOUL, Nov. 27 (Korea Bizwire) — South Korea’s defense ministry on Thursday vowed to keep up its arms industry cooperation with Poland after a domestic defense firm failed to win a contract to supply next-generation submarines to the European country. On Wednesday, Poland said it has chosen Swedish defense firm Saab as the winner of [...]
MUAN, Nov. 27 (Korea Bizwire) — South Jeolla Province is celebrating a wave of high-profile successes — from attracting global data centers and fusion research facilities to the successful launch of the Nuri rocket — cementing its ambitions to become South Korea’s “energy capital.” Early Thursday morning, the country’s first privately built Nuri (KSLV-II) rocket lifted [...]
SEOUL, Nov. 26 (Korea Bizwire) — Lotte Chemical Corp. and HD Hyundai Chemical said Wednesday they have finalized a restructuring plan to reduce the capacity of naphtha cracking centers (NCCs) in an industrial complex in the central region as part of nationwide efforts to reform the petrochemical industry. The companies said in regulatory filings that [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korea is set to transfer a retiring 1,200-ton submarine to Poland free of charge, military sources said Wednesday, in apparent support for a South Korean defense firm bidding for the European country’s submarine procurement project. Under the plan, the defense ministry is expected to hand over the ROKS [...]
SEOUL, Nov. 26 (Korea Bizwire) — SK hynix, one of the world’s leading makers of high-bandwidth memory chips, has decided that the path to public affection might just run through the snack aisle. On Wednesday, the company announced a collaboration with convenience-store giant 7-Eleven to release what may be the most literal tech-themed treat yet: an [...]
SEOUL, Nov. 26 (Korea Bizwire) — Business sentiment in South Korea rose to the highest level in more than a year in November, supported by an ongoing boom in the semiconductor industry and improving consumer sentiment, a central bank survey showed Wednesday. The Composite Business Sentiment Index (CBSI) for all industries came to 92.1 this [...]
SEOUL, Nov. 26 (Korea Bizwire) — South Korea’s real estate slowdown has pushed the number of active licensed realtors below 110,000 for the first time in more than five years, as prolonged policy tightening and weak housing demand reshape the industry. According to data released Wednesday by the Korea Association of Realtors, 109,979 real estate agents [...]
SEOUL, Nov. 25 (Korea Bizwire) — South Korean construction and engineering companies will explore potential collaboration opportunities with multilateral development banks (MDBs) for overseas infrastructure development projects, officials said Tuesday. Some 100 Korean firms are set to attend the two-day 2025 MDB Project Plaza event, which will run through Wednesday in Seoul to introduce MDBs’ [...]
SEOUL, Nov. 25 (Korea Bizwire) — Seoul police announced on Tuesday that they will carry out an unannounced, citywide crackdown on traffic violations by motorbikes, bicycles and personal mobility devices such as electric scooters, amid rising safety concerns and a surge in related accidents. The Seoul Metropolitan Police Agency said it will deploy 354 officers from [...]
SEOUL, Nov. 25 (Korea Bizwire) — South Korea’s largest companies have expanded their executive ranks more than three times faster than their employee headcounts over the past five years, widening internal hierarchies even as some industries shed staff, a new analysis shows. According to data released Nov. 25 by corporate research firm Leaders Index, 331 major [...]