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” [...]
GIMPO, July 8 (Korea Bizwire) – A Starbucks nestled just 1.4 kilometers from the North Korean border is emerging as one of South Korea’s most unlikely tourist hotspots, drawing over 120,000 customers in just seven months. The store, located inside Aegibong Peace Ecological Park in Gimpo, opened on November 29, 2024, and has since attracted both [...]
SEJONG, July 7 (Korea Bizwire) — South Korea’s latest euro-denominated foreign exchange stabilization bond (FESB) offering in London has garnered record-breaking demand, signaling strong global investor confidence in the country’s fiscal and economic outlook under its newly inaugurated administration. According to the Ministry of Economy and Finance, the €1.4 billion issuance on June 26 attracted [...]
SEOUL, July 7 (Korea Bizwire) — Global B2B e-commerce platform Alibaba.com said Monday it has launched its Trade Assurance service in South Korea to help local small and medium-sized enterprises (SMEs) expand exports more safely and transparently. Trade Assurance is Alibaba.com’s proprietary transaction protection service, designed to provide a secure trading environment for both sellers [...]
HWASUN, July 7 (Korea Bizwire) — In a quiet but groundbreaking shift in South Korea’s public health arsenal, scientists have achieved a global first: the successful development and approval of a recombinant protein-based anthrax vaccine. The move not only secures the country’s long-sought vaccine self-sufficiency but also positions it as a potential exporter of safer, [...]
SEOUL, July 7 (Korea Bizwire) — South Korea’s major conglomerates are scrambling to respond after the National Assembly passed sweeping amendments to the Commercial Act championed by President Lee Jae-myung’s administration. The reform, more aggressive than the version previously vetoed by former President Yoon Suk-yeol, introduces expanded shareholder rights and tighter oversight of corporate boards. At [...]
SEOUL, July 7 (Korea Bizwire) — Seoul is preparing to reintroduce trams to its streets for the first time in nearly six decades, as construction on the Wirye Line, the city’s first modern tram project, approaches completion. According to the Seoul Metropolitan Government, the Wirye tram line is scheduled to open in September 2026, with [...]
SEOUL, July 7 (Korea Bizwire) — Korean restaurants that adopt smart technologies such as delivery apps, kiosks, and table-order systems significantly outperform those that do not, according to a new study by the Korea Foodservice Industry Research Institute. The survey found that restaurant owners using smart tools reported an average monthly revenue of ₩30.86 million and [...]
SEOUL, July 7 (Korea Bizwire) — Hyundai Motor and Kia have sold more than 200,000 small cars in Europe in just the first five months of 2025, a milestone that underscores the growing appeal of compact, fuel-efficient vehicles in one of the world’s most urbanized and eco-conscious markets. According to figures released Sunday by the [...]