SEOUL, Aug. 19 (Korea Bizwire) — Hyundai Department Store Co. said Tuesday it will open its first retail outlet in Japan next month as part of its global expansion strategy to promote Korean brands. The Hyundai Global retail store will be located in the Shibuya Parco shopping mall in Tokyo, with plans to rotate featured [...]
SEOUL, Aug. 19 (Korea Bizwire) — A low orbit satellite internet service is expected to be launched in South Korea next month, with global providers Eutelsat OneWeb and SpaceX preparing to introduce the next-generation internet access from space, industry sources said Tuesday. Eutelsat OneWeb, a subsidiary of the French business group Eutelsat, has already completed [...]
SEOUL, Aug. 18 (Korea Bizwire) — The founding family of Hyundai Motor Group has been selected by the U.S. publication Automotive News as a recipient of its Centennial Award for its contribution to the advancement of the global auto industry, according to the group Monday. Late founder Chung Ju-yung, Honorary Chairman Chung Mong-koo and Euisun [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major business groups on Monday called for the parliament to reflect local companies’ voices in the controversial “yellow envelope bill,” which seeks to broaden workers’ rights. “The business community has continuously emphasized the need for sufficient coordination between employers and workers, as the new bill could create [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major petrochemical companies are grappling with a deepening industry downturn, as key players reported average plant utilization rates falling below break-even thresholds during the first half of 2025, according to corporate filings reviewed on August 17. The average operating rates at leading firms—including Lotte Chemical, LG Chem, [...]
SEOUL, Aug. 18 (Korea Bizwire) — Hyundai Motor and Kia are accelerating their momentum in Saudi Arabia, the Middle East’s largest automotive market, by claiming the top two best-selling vehicles in the first half of 2025 — a region long dominated by Japanese brands like Toyota and Nissan. According to sales data released by Hyundai [...]
SEOUL, Aug. 18 (Korea Bizwire) — Kia has officially launched “The 2026 Carnival,” an updated version of its flagship large recreational vehicle (RV), aimed at strengthening its foothold in the high-demand family and leisure car market. The company began full-scale sales on Sunday. The refreshed model is offered in two powertrains — a 3.5-liter gasoline engine [...]
SEOUL, Aug. 16 (Korea Bizwire) — South Korea’s three major battery manufacturers — LG Energy Solution, Samsung SDI, and SK On — are grappling with declining factory utilization rates, reflecting the broader global slowdown in electric vehicle (EV) demand known as the “EV chasm.” According to semiannual filings released on August 15, LG Energy Solution [...]
SEOUL, Aug. 15 (Korea Bizwire) — South Korea will develop its own next-generation Advanced Air Vehicle (AAV) capable of low-noise, eco-friendly, vertical and short takeoff and landing, aiming for a maiden flight in 2030 and mission demonstrations in 2031, the national space and aerospace agency said Thursday. The Korea Aerospace Administration unveiled the plan during [...]
SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s nuclear regulator has warned that rapidly warming seawater — used to cool reactors — could force as many as eight reactors offline within the next 10 years unless cooling capacity is improved. At a meeting on August 14, the Nuclear Safety and Security Commission received a report [...]