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Archive by category Business

North Gyeongsang Unveils Bold Plan to Transform Coastal Economy with Salmon Farming, Year-Round Tourism

ANDONG, Nov. 15 (Korea Bizwire) – North Gyeongsang Province announced on November 14 a comprehensive “Maritime and Fisheries Transformation” plan aimed at revitalizing its East Sea coastal fishing industry and leisure tourism sector. The ambitious initiative includes a significant shift in aquaculture strategy, with plans to invest 140 billion won through 2030 to transition from traditional [...]

Bibigo Partners with ‘Squid Game’ for Global Food Campaign

SEOUL, Nov. 14 (Korea Bizwire) – CJ CheilJedang’s Bibigo brand is set to launch a global collaboration with Netflix’s hit series “Squid Game” Season 2, marking a significant partnership between South Korea’s leading food brand and entertainment content. The food giant announced on November 14 that the collaborative campaign will roll out across 14 countries, including [...]

S. Korean Shipyards Anticipate Greater U.S. Biz Opportunities after Trump’s Call for Cooperation

SEOUL, Nov. 14 (Korea Bizwire) — South Korean shipyards appear upbeat over potential opportunities to expand their business in America after U.S. President-elect Donald Trump’s call for more bilateral cooperation in the sector. In his phone conversation with South Korean President Yoon Suk Yeol following his election victory last week, Trump said the U.S. seeks to work [...]

Samsung Shares Continue Slide as Foreign Investors Lead Selloff

SEOUL, Nov. 14 (Korea Bizwire) – Samsung Group shares, long considered a cornerstone of South Korean investing, continued their downward trajectory as foreign and institutional investors led a significant selloff, while retail investors moved to buy the dip. Market analysts suggest that despite current undervaluation, a quick recovery appears unlikely. On November 13, Samsung Electronics closed [...]

S. Korea Starts Operation of Gas, Oil Storage Facility in Ulsan

SEOUL, Nov. 14 (Korea Bizwire) — South Korea has kicked off a new energy storage facility in the southeastern port city of Ulsan, which will serve as a key energy hub for the country, the industry ministry said Thursday. The Korea Energy Terminal, located 308 kilometers south of Seoul, has begun its commercial operation with [...]

Kia Agrees to Supply PV5 Electric Cargo Vehicles to DHL Korea from 2026

SEOUL, Nov. 14 (Korea Bizwire) — Kia Corp. said Thursday it has signed a tentative agreement with DHL Korea Ltd. to supply its PV5 mid-sized electric cargo vehicles to the logistics firm from 2026. Under the memorandum of understanding signed Wednesday, Kia will begin supplying the PV5, the first in the company’s electric purpose built [...]

Gov’t Unveils Measures to Address Consumer Complaints in Wedding Industry

SEOUL, Nov. 14 (Korea Bizwire) — The government unveiled a package of measures aimed at addressing long-standing consumer complaints in the wedding industry Thursday, which has often been cited as a significant factor driving up the high costs of marriage. The measures were introduced at an economic ministers’ meeting in Seoul, led by Finance Minister [...]

S. Korea Unveils Measures to Boost Productivity of Service Industry

SEOUL, Nov. 14 (Korea Bizwire) — The government on Thursday unveiled a package of measures, such as preferential interest rates and incentives, aimed at developing the domestic service industry as a new engine of growth. The measures were introduced during an economy-related ministers’ meeting held in Seoul, presided over by Finance Minister Choi Sang-mok, who [...]

LG Energy Solution’s U.S. Unit Wins ESS Supply Deal from U.S. Firm

SEOUL, Nov. 14 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday its U.S. unit has signed a long-term deal to supply energy storage systems (ESS) for a local renewables developer. LG Energy Solution Vertech, Inc. will supply 8-gigawatt-hour (GWh) ESS systems to U.S. renewable energy firm Terra-Gen Power [...]

Celebrity Chef Paik Says Will ‘Drastically’ Increase Korean Restaurants in Overseas Markets

SEOUL, Nov. 13 (Korea Bizwire) — Bornga and Saemaeul Restaurant are some of the more popular Korean restaurant brands frequently visited by South Korean tourists and local residents alike in many countries around the globe for a taste of popular Korean dishes seen on Korean TV shows. And Paik Jong-won, a more popular TV personality [...]