SEOUL, Jan. 6 (Korea Bizwire) — The oceans ministry said Tuesday it plans to expand imports of mackerel through the tariff-rate quota system and release government reserves amid soaring prices. Starting this month, the Ministry of Oceans and Fisheries said it plans to release 2,000 tons of mackerel from its stockpiles with a 30 to [...]
SEOUL, Jan. 6 (Korea Bizwire) — Hyundai Motor Group plans to develop a new headquarters complex in southern Seoul comprising three 49-story towers by 2031, following a revised agreement with the Seoul city government, city officials said Tuesday. The updated plan replaces Hyundai’s earlier proposal for a single 105-story skyscraper, which ran into regulatory obstacles including [...]
SEJONG, Jan. 6 (Korea Bizwire) — The nation’s highest court is set to deliver a high-profile ruling on whether Coupang, the country’s dominant e-commerce platform, violated fair trade laws by collecting sales promotion fees and incentives from its suppliers—a decision that could reshape regulatory oversight of online retail practices. The case stems from penalties imposed by [...]
SEOUL, Jan. 6 (Korea Bizwire) — Sales of imported vehicles in South Korea increased nearly 17 percent on-year in 2025, with BMW maintaining its market lead in the country for the third consecutive year, industry data showed Tuesday. According to the data from the Korea Automobile Importers & Distributors Association (KAIDA), registrations of new imported [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea’s Supreme Court is set to deliver a closely watched ruling this month in a long-running dispute over franchise fees involving Pizza Hut Korea, a decision that could reshape the financial practices of the country’s franchise industry. According to the food service sector, the Supreme Court’s Civil Division 3 [...]
SEOUL, Jan. 6 (Korea Bizwire) — South Korea will allow foreign aquaculture technicians to work across a broader range of farmed species starting this year, as the government moves to ease chronic labor shortages in the country’s aging fisheries sector. The Ministry of Oceans and Fisheries and the Ministry of Justice said Monday that the scope [...]
SEOUL, Jan. 5 (Korea Bizwire) — Hyundai Motor Group Executive Chair Euisun Chung said artificial intelligence will reshape industrial competition and open new growth avenues for the company, while warning that success will depend on quicker decision-making and clearer internal communication as global risks intensify. In a prerecorded New Year’s roundtable with senior executives released Monday, [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s most familiar fish may soon become a luxury item. Mackerel, a staple of the Korean diet, is facing mounting supply pressures as climate change shrinks domestic catches and Norway — the country’s dominant foreign supplier — moves to sharply cut its harvest. The combined squeeze is already pushing [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s richest business leaders saw a sharp surge in their stock wealth over the past year, lifted by a strong rally in domestic equities, with gains exceeding 35 trillion won ($26 billion) among the heads of the country’s largest conglomerates, according to a new analysis released Monday. A report [...]
SEOUL, Jan. 5 (Korea Bizwire) — South Korea’s venture companies have sharply strengthened their technological competitiveness over the past decade, significantly expanding research and development spending and intellectual property holdings while also improving their financial health, according to a government-backed survey released on Sunday. Data from the Venture Enterprise Survey, comparing results from 2015 and 2025, [...]