SEOUL, July 30 (Korea Bizwire) — South Korea and the United States are continuing last-minute trade negotiations on areas including semiconductors, batteries and biotechnology on top of in-depth discussions on shipbuilding cooperation, the presidential office said Wednesday. Kim Yong-bum, the presidential chief of staff for policy, made the remarks as top Seoul officials are visiting [...]
SEOUL, July 30 (Korea Bizwire) — SK Innovation Co., South Korea’s leading oil refiner, said Wednesday it will merge two electric vehicle-related affiliates as part of a business reorganization amid slowing EV sales. SK On Co., the company’s EV battery manufacturing unit, will absorb SK Enmove Co., a provider of EV lubricants and thermal management [...]
SEOUL, July 30 (Korea Bizwire) — As artificial intelligence advances and electric vehicles become more widespread, South Korea is witnessing the rise of new technology-driven professions—including automotive cybersecurity experts and AI service operations managers, according to a report released Wednesday by the Korea Employment Information Service (KEIS). The newly identified occupations will be included in [...]
SEOUL, July 30 (Korea Bizwire) — LG Energy Solution Ltd., South Korea’s largest battery manufacturer, said Wednesday it has signed a 5.9 trillion won ($4.26 billion) contract to supply lithium iron phosphate (LFP) batteries to an undisclosed overseas client. In a regulatory filing, LG Energy said the agreement spans three years, from Aug. 1, 2027, [...]
SEOUL, July 30 (Korea Bizwire) — LG Electronics announced Monday that its consumer recycling campaign “Battery Return” has collected more than 108 tons of used batteries over the past four years, underscoring its commitment to circular resource practices and rare metal recovery. Since its launch, the program has retrieved over 240,000 batteries, yielding more than 9.6 [...]
GWANGJU, July 30(Korea Bizwire) — As dining costs continue to climb across South Korea, prices for samgyetang — a traditional Korean ginseng chicken soup favored during the summer heat — have breached ₩20,000 per bowl at many popular restaurants in Gwangju, marking a sharp departure from its status as an affordable seasonal comfort food. According to local [...]
SEOUL, July 30 (Korea Bizwire) — South Korea’s convenience store chains reported double-digit sales growth in the first week following the rollout of government-issued consumption coupons, with customers increasingly turning to nearby stores for everyday shopping. According to industry data released Tuesday, the four major operators — CU, GS25, 7-Eleven, and Emart24 — saw weekly [...]
SEOUL, July 29 (Korea Bizwire) — POSCO E&C’s chief executive publicly apologized on Tuesday following a series of fatal industrial accidents at company construction sites, drawing sharp rebuke from President Lee Jae-myung, who likened the repeated deaths to “murder by willful negligence.” At a press conference held at the company’s headquarters in Incheon’s Songdo district, CEO [...]
SEOUL, July 29 (Korea Bizwire) — LG Innotek Co., an electronic component manufacturing unit of LG Group, said Tuesday it has formed a strategic partnership with U.S. software company Aeva Technologies Inc. to collaborate in the laser imaging, detection and ranging (LiDAR) sector. Under the agreement, LG Innotek will provide next-generation frequency modulated continuous wave [...]
SEOUL, July 29 (Korea Bizwire) — Samsung Electronics Co. Chairman Lee Jae-yong on Tuesday departed for the United States, raising speculation that he may support ongoing trade talks between Seoul and Washington ahead of a key negotiation deadline this week. Lee arrived at Seoul Gimpo Business Aviation Center in western Seoul around 3:50 p.m. and [...]