SEOUL, June 30 (Korea Bizwire) — Kang Goo-young, president and chief executive officer (CEO) of Korea Aerospace Industries (KAI) Ltd., will step down this week, about three months ahead of the official end of his term, industry sources said Monday. Kang plans to resign from the CEO position of the South Korean aerospace and defense [...]
SEOUL, June 30 (Korea Bizwire) — Elderly drivers were responsible for over one in five traffic accidents in South Korea last year, a record high that has reignited debate over delayed safety reforms ahead of the first anniversary of a deadly wrong-way driving incident in central Seoul. According to new data from the Korea Road Traffic [...]
SEOUL, June 30 (Korea Bizwire) — Major South Korean retailers have launched special pop-up stores and exclusive tie-in merchandise in collaboration with the newly released third season of Netflix’s hit series “Squid Game,” according to industry officials Monday. GS25, the convenience store chain operated by GS Group, has partnered with Netflix to showcase new collaborative [...]
SEOUL, June 30 (Korea Bizwire) — Nongshim Co., South Korea’s leading instant noodle manufacturer, announced Monday the debut of its signature Shin Ramyun menu at a franchise restaurant located within Fort Bliss, a major U.S. military base in Texas. This marks the first time Nongshim’s ramen dishes have been featured as official menu items [...]
SEOUL, June 30 (Korea Bizwire) — Emart24, a South Korean convenience store chain, said Monday it will open its first outlet in India this August, marking the first entry into the world’s most populous market by a Korean convenience store. Emart24 has signed a brand license agreement with local franchise company Jung Brothers Hospitality to [...]
SEOUL, June 29 (Korea Bizwire) — Hyundai Motor and Kia have climbed to a record-high 11% market share in the U.S. auto market for the first five months of this year, bolstered by proactive inventory strategies and surging hybrid sales. But industry analysts warn that growing cost pressures and looming tariff hikes could cloud prospects [...]
SEOUL, June 28 (Korea Bizwire) — Hyundai Motor Group has been named to TIME magazine’s prestigious TIME100 Most Influential Companies of 2025, joining the Leaders category alongside global powerhouses. The South Korean auto giant was the only Korean company to make this year’s list, reinforcing its standing as a dominant force in the global automotive [...]
SEOUL, June 27 (Korea Bizwire) – South Korea’s auto parts sector is bracing for intensified export headwinds as the United States signals a possible expansion of its 25% import tariffs on vehicle components, deepening concerns in an industry already grappling with high trade barriers. On June 24, the U.S. Department of Commerce’s International Trade Administration [...]
SEOUL, June 27 (Korea Bizwire) — South Korean stocks fell for the second-straight session Friday as investors continued to cash in recent gains. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 23.62 points, or 0.77 percent, to close at 3,055.94. Trade volume was moderate at 377.4 [...]
SEOUL, June 27 (Korea Bizwire) — The financial authorities’ latest measures to restrict ballooning household debt are expected to help cool down the overheated housing market in Seoul’s sought-out areas, experts said Friday. The Financial Services Commission (FSC) announced earlier in the day that all local lenders will be forced to sharply lower their household [...]