MUAN, South Korea, July 14 (Korea Bizwire) — South Korea is pushing forward with legislation that would offer sweeping incentives — including deep electricity discounts and tax breaks — for companies operating in designated RE100 industrial zones powered entirely by renewable energy. The move is expected to significantly bolster efforts to attract major data center investments [...]
SEOUL, July 11 (Korea Bizwire) — Korean Air Co., South Korea’s leading air carrier, said Friday its net profit for the second quarter grew 13.4 percent from a year earlier thanks to stable demand in the company’s passenger services. The company’s net profit for the April-June period totaled 395.9 billion won (US$288.1 million) on a [...]
SEOUL, July 11 (Korea Bizwire) — SK ecoplant Co., the construction arm of South Korea’s SK Group, has sold part of its stake in U.S.-based fuel cell company Bloom Energy Corp., sources said Friday. SK ecoplant offloaded 10 million common shares in Bloom Energy through an over-the-counter block trade at US$27.60 per share on Thursday, [...]
JECHEON, July 10 (Korea Bizwire) — As South Korea grapples with intensifying summer heatwaves, livestock farmers are sounding the alarm over rising animal deaths and declining productivity, highlighting the toll of climate change on the agricultural sector. In Jecheon City, North Chungcheong Province, farmer Won Jang-yeon looked on with concern as the digital thermometer in [...]
YOUNGDEOK, July 10 (Korea Bizwire) — What was once dubbed the “lottery of the sea” has become a costly dilemma for South Korean fishermen along the country’s eastern coast. A surge in bluefin tuna catches, driven by changing sea temperatures, is clashing with outdated government-imposed fishing quotas, forcing fishermen to discard valuable catches — and [...]
SEOUL, July 9 (Korea Bizwire) — The labor union of GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., plans to stage a partial strike this week, as it has failed to narrow differences with management in ongoing wage negotiations, union officials said Wednesday. Unionized workers will stage two-hour walkouts across [...]
SEOUL, July 9 (Korea Bizwire) – The Niro Hybrid, an eco-friendly sport utility vehicle (SUV) of Kia Corp., came out on top among competing global models in a comparison test conducted by Germany’s leading automotive magazine, Auto Zeitung, the South Korean automaker said Wednesday. The German magazine recently compared five popular hybrid SUVs — Kia’s [...]
SEOUL, July 8 (Korea Bizwire) — Shares of Samyang Foods surged to a new all-time high on Tuesday, buoyed by soaring global demand for its signature Buldak spicy ramen and expanded production capacity. The stock closed at 1,436,000 won on the Korea Exchange, up 7.65% from the previous trading day, surpassing the 1.4 million won [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s industrial giants are bracing for a sobering second quarter, as Samsung Electronics’ steep earnings miss reverberates across the country’s core sectors — including autos, steel, batteries, and refining — amid global economic headwinds and rising geopolitical trade barriers. Samsung, long the bellwether of Korean corporate performance, reported [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s pharmaceutical industry is once again under fire as a string of illegal rebate scandals have surfaced in 2025, reigniting calls for structural reform and stronger support for new drug development. Prosecutors recently indicted three mid-sized pharmaceutical companies and their employees in connection with the so-called “residents’ rebate” [...]