SEOUL, Aug. 6 (Korea Bizwire) — HD Hyundai Heavy Industries Co., South Korea’s leading shipbuilder, said Wednesday it has secured a maintenance, repair and overhaul (MRO) project for a U.S. Navy cargo ship. The company will carry out the MRO work on the USNS Alan Shepard (T-AKE-3), a 41,000-ton Lewis and Clark-class dry cargo vessel, [...]
SEOUL, August 6 (Korea Bizwire) — South Korea’s top 100 publicly listed companies have significantly ramped up shareholder returns, with total payouts rising by more than 35% over the past two years, according to new data released Wednesday by corporate tracker CEO Score. The report found that shareholder returns — including dividends and share buybacks [...]
SEOUL, August 6 (Korea Bizwire) — South Korea has nearly completed the installation of more than 10,000 smart electric vehicle (EV) chargers designed to prevent overcharging-related fires, the Ministry of Environment announced on Tuesday. As part of a broader rollout that began last year, 42,032 smart chargers are being deployed nationwide, with 11,039 units already [...]
SEOUL, August 5 (Korea Bizwire) – South Korea’s major banks are ramping up restrictions on home-backed loans and jeonse (long-term rental deposit) financing, signaling a coordinated move to cool the property market and manage household debt more tightly. On August 5, Hana Bank announced it would halt new applications for mortgage and jeonse loans scheduled for [...]
SEOUL, August 5 (Korea Bizwire) — A team of South Korean scientists has unveiled a breakthrough in electric vehicle (EV) battery technology that could extend battery life more than fivefold, potentially revolutionizing the performance and longevity of EVs. Researchers led by Professor Cho Chang-shin of POSTECH (Pohang University of Science and Technology) and Professor Yoon Sung-hoon [...]
SEOUL, Aug. 5 (Korea Bizwire) — The head of POSCO E&C, the construction arm of South Korea’s leading steelmaker POSCO Group, tendered his resignation Tuesday, taking responsibility for a string of fatal industrial accidents. POSCO E&C President and Chief Executive Officer (CEO) Jeong Hee-min said he felt a deep sense of responsibility for repeated fatal [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korean internet giant Naver Corp. said Tuesday it has decided to fully acquire Spanish online marketplace Wallapop as part of a broader strategy to expand its social commerce business overseas. Naver will invest 604.5 billion won (US$435.2 million) to acquire an additional 70.5 percent stake in the Spanish [...]
SEOUL, Aug. 5 (Korea Bizwire) — Hanwha Group has recorded the largest increase in corporate value among South Korea’s top 10 business groups this year, buoyed by surging stock prices in its defense and shipbuilding affiliates and optimism over its role in U.S.-Korea trade negotiations. According to data compiled from the securities industry and Hanwha Group, [...]
SEOUL, Aug. 5 (Korea Bizwire) — South Korea’s largest companies now employ more workers in their 50s than in their 20s, a demographic shift that underscores slowing youth hiring amid persistent economic headwinds. As of the end of 2024, employees in their 20s accounted for 19.8% of the workforce at 124 major companies tracked [...]
Project aims to detect stress at genetic level before visible symptoms emerge SUWON, August 5 (Korea Bizwire) — South Korea’s Gyeonggi Provincial Agricultural Research and Extension Services has launched an ambitious initiative to develop an artificial intelligence-based system capable of predicting crop stress caused by extreme weather and pest outbreaks before symptoms are visible. Announced [...]