SEOUL, Aug. 21 (Korea Bizwire) — Korean Air Co. said Thursday it has partnered with LIG Nex1 Co. to compete for a 1.78 trillion-won (US$1.27 billion) government project to develop an electronic warfare aircraft for the Air Force. The two companies plan to submit their final proposal for the project in early September. If chosen [...]
SEOUL, Aug. 21 (Korea Bizwire) — SK bioscience Co., the biotech arm of South Korea’s SK Group, said Thursday it will expand cooperation with the Gates Foundation on next-generation preventive medicines, with a focus on research and development (R&D) for pandemic preparedness. Officials from SK bioscience and the foundation held a meeting in Seoul on [...]
SEOUL, Aug. 21 (Korea Bizwire) — South Korean brokerage firms are moving to resume overnight trading of U.S. stocks as early as November, more than a year after the service was abruptly suspended in the wake of a market shock. According to industry officials on Thursday, securities firms reached a tentative agreement to restart the service [...]
SEOUL, Aug. 21 (Korea Bizwire) — The Bank of Korea (BOK) on Wednesday sounded the alarm over the rapid spread of dollar-pegged stablecoins, warning lawmakers that the trend poses risks to monetary sovereignty and financial stability. In a written response submitted to Rep. Park Sung-hoon of the People Power Party, the central bank urged swift [...]
COLOGNE, Germany, Aug. 20 (Korea Bizwire) — Hyundai Motor made its debut at Gamescom, the world’s largest gaming convention, unveiling a retro-style arcade game inspired by its latest concept car. From August 20 to 24, the automaker is hosting a booth in the “Retro & Family” section of Gamescom 2025 at the Koelnmesse exhibition center. [...]
SEOUL, Aug. 20 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering (HD KSOE) Co. said Wednesday it has signed a 290 billion-won (US$207 million) agreement to purchase Doosan Enerbility Co.’s Vietnam subsidiary. Under the deal, HD KSOE will take over all shares of Doosan Vina owned by Doosan Enerbility, the South Korean shipbuilder said [...]
SEOUL, Aug. 20 (Korea Bizwire) — Shares of South Korea’s nuclear power companies tumbled Wednesday after revelations that a settlement with U.S. nuclear giant Westinghouse has sharply curtailed their access to major global markets. By mid-morning trading, Korea Electric Power Corp. (KEPCO) was down more than 5 percent, while Doosan Enerbility dropped nearly 9 percent. [...]
SEOUL, Aug. 20 (Korea Bizwire) — More than half of South Korea’s midsize listed companies saw profits fall in the first half of 2025, as global economic uncertainty and weakening demand weighed on key sectors, new data show. Combined operating profit for 500 midsize firms came to 6.34 trillion won ($4.55 billion) in the [...]
SEOUL, Aug. 20 (Korea Bizwire) — SK On, the battery-making unit of South Korea’s SK Group, said Wednesday its 50:50 joint venture with Ford Motor Co. has begun commercial production of electric vehicle (EV) batteries at its first Kentucky plant. SK On and Ford established BlueOval SK in July 2022 with plans to invest 16 [...]
SEOUL, Aug. 20 (Korea Bizwire) — Nongshim, South Korea’s leading instant noodle maker, is teaming up with one of Netflix’s latest global sensations to give its iconic snacks a new look. The company announced Wednesday that its flagship Shin Ramyun and Shrimp Crackers will debut in limited-edition packaging later this month featuring characters from KPop [...]