SEOUL, June 26 (Korea Bizwire) — In a year defined by economic uncertainty and global industry shifts, Hyundai Motor Group stood out as South Korea’s most impactful corporate force—fueling growth across sectors and surpassing all other conglomerates in total economic contribution. According to data released Thursday by corporate tracker CEO Score, the automotive giant generated [...]
SEOUL, June 26 (Korea Bizwire) — In a global first, South Korea’s Korean Register (KR) and HD Hyundai have successfully demonstrated a technology that captures and recycles boil-off gas from LNG-fueled ships under construction, repurposing it as city gas for onshore use. The trial was conducted at HD Hyundai Heavy Industries’ Ulsan shipyard on a [...]
SEOUL, June 25 (Korea Bizwire) — The Korea Chamber of Commerce and Industry (KCCI) has formally proposed a bold economic blueprint to the new South Korean government, calling for the creation of a $6 trillion Korea-Japan economic union, the large-scale recruitment of skilled foreign labor, and a national pivot toward service-based exports. In a policy [...]
SEOUL, June 25 (Korea Bizwire) — Kyochon Chicken, South Korea’s third-largest fried chicken franchise, will withdraw from delivery app Coupang Eats starting next month as part of an exclusive partnership with market leader Baedal Minjok (Baemin). The move marks the industry’s first known case of a delivery platform offering preferential terms in exchange for app [...]
SEOUL, June 25 (Korea Bizwire) — South Korean stocks finished slightly higher Wednesday, tracking overnight U.S. stocks gains boosted by eased Middle Eastern tensions and hopes of an early interest rate cut by the Federal Reserve. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.61 points, [...]
SEOUL, June 25 (Korea Bizwire) — After a seven-year hiatus, Starbucks Korea has reintroduced plastic straws at select locations across the country, citing customer feedback and improvements in eco-friendly materials. Beginning June 25, the coffee chain will offer both paper and plant-based plastic straws at around 200 stores, primarily located in hospitals and residential areas. [...]
SEOUL, June 25 (Korea Bizwire) — South Korea has launched an integrated system that provides real-time information on power generation and consumption, enabling swift adjustments to how much power should be generated, as well as where the power would come from, the industry ministry said Wednesday. Information on power grids, which had been dispersed across [...]
SEOUL, June 25 (Korea Bizwire) — Nearly eight out of ten of South Korea’s largest companies are clustered in the greater Seoul area, highlighting a deepening imbalance in the nation’s corporate geography — one that’s reigniting debate over regional development and decentralization. According to a recent report by market research firm CEO Score, 385 out [...]
SEOUL, June 25 (Korea Bizwire) — Emart24, a South Korean convenience store chain, said Wednesday it has opened its 100th outlet in Malaysia and plans to launch 30 additional stores there by December under its expansion strategy. The company entered the Malaysian market in June 2021 with a single store, operating under a master franchise [...]
SEOUL, June 25 (Korea Bizwire) – Once the dominant force in South Korea’s imported vehicle market, diesel-powered passenger cars are facing a steep decline as consumers increasingly turn to cleaner alternatives. According to data released Tuesday by the Korea Automobile Importers & Distributors Association (KAIDA), only 1,469 imported diesel passenger vehicles were sold in South [...]