SEOUL, June 24 (Korea Bizwire) — Daemyung Sono Group virtually completed its acquisition of T’way Air Co. on Tuesday by holding an extraordinary shareholders’ meeting and appointing a new board of directors for the low-cost carrier. T’way Air held the extraordinary shareholders’ meeting at its aviation training center in Seoul and approved the appointment of [...]
SEOUL, June 24 (Korea Bizwire) — The market capitalization of chip giant SK hynix Inc. surpassed 200 trillion won (US$146.5 billion) for the first time Tuesday amid a rally in the South Korean stock market. Shares of SK hynix were trading at 278,000 won as of 2 p.m., up 7.13 percent from the previous session. [...]
SEOUL, June 24 (Korea Bizwire) — While global consumers continue to favor monochromatic car colors, South Korean buyers are increasingly opting for vibrant, expressive hues, according to a new report by global coatings manufacturer Axalta. The report, released on June 22, shows that in 2024, 24% of cars sold in South Korea featured chromatic (non-neutral) [...]
SEOUL, June 24 (Korea Bizwire) — In a striking display of corporate soft power, Saudi Aramco, the world’s largest oil producer, is leading a campaign to reduce plastic waste at baseball stadiums in Seoul—an unlikely green initiative from a company synonymous with hydrocarbons. Aramco Korea announced Tuesday that it will expand its reusable container program to [...]
SEOUL, June 24 (Korea Bizwire) — GS Caltex Corp., South Korea’s second-largest refiner by sales, said Tuesday it is considering producing biofuel by recycling waste from palm oil mills in Indonesia. The initiative, which also aims to cut greenhouse gas emissions, involves using palm oil mill effluent (POME) to produce bio-based raw materials while reducing [...]
SEOUL, June 24 (Korea Bizwire) — Hyundai Engineering & Construction (E&C) Co. said Tuesday it has signed an early works agreement (EWA) with Finland’s state-owned energy company Fortum and U.S. nuclear firm Westinghouse to jointly pursue the construction of a new nuclear power plant in Finland. The agreement, signed last week at Fortum’s headquarters in [...]
SEOUL, June 24 (Korea Bizwire) — South Korea will launch an educational exchange program inviting students and faculty members from major American universities starting next year to receive short-term training in shipbuilding engineering, Seoul’s trade ministry said Tuesday. The initiative comes as the two countries seek to deepen cooperation in the shipbuilding sector, which has [...]
SEOUL, June 24 (Korea Bizwire) – As inflation continues to weigh heavily on South Korean households, major retailers are adopting a “reverse pricing” strategy—setting a target sale price first and working backward to meet it—reshaping how goods are planned, priced, and sold. Rather than determining prices based on production costs and margins, companies like E-Mart, [...]
SEOUL, June 24 (Korea Bizwire) — As South Korea moves to tighten emissions standards for new buildings, including private apartments starting later this month, policymakers are looking to timber-based construction as a viable path toward carbon neutrality in the housing sector. A new report from the Korea Land and Housing Corporation (LH) underscores the urgency [...]
SEOUL, June 23 (Korea Bizwire) — South Korean grocery delivery platform Oasis Corp. said Monday it has acquired full ownership of e-commerce platform TMON after a court approved its rehabilitation plan, which included the acquisition proposal. TMON filed for court receivership in July last year following widespread delays in payments to vendors using its platform. [...]