SEOUL, June 13 (Korea Bizwire) — Foreign investment in South Korean securities recorded the largest net inflow in nearly two years in May, supported by easing domestic political uncertainties and reduced concerns over the United States’ trade policy, the central bank said Friday. Offshore investors purchased a net US$9.29 billion worth of local stocks and [...]
SEOUL, June 13 (Korea Bizwire) — South Korea’s leading food service brands are accelerating the development of proprietary mobile apps to improve convenience, enhance customer engagement, and differentiate their services in a competitive dining market. On Thursday, Baskin-Robbins Korea launched its official mobile application, offering delivery and takeout ordering, reservation services, product recognition features, and [...]
SEOUL, June 13 (Korea Bizwire) — South Korea’s petrochemical sector is ramping up restructuring talks, including potential consolidation of naphtha cracking center (NCC) facilities, as companies grapple with sustained oversupply from China and a prolonged global economic slowdown. The shift comes as the administration of President Lee Jae-myung prepares to roll out policy support for [...]
SEOUL, June 13 (Korea Bizwire) — South Korea’s stock market has soared for six consecutive trading days following the inauguration of President Lee Jae-myung, but retail investors who bet against the rally are now grappling with mounting losses. The benchmark KOSPI index closed above the 2,920 mark on Thursday, up 8.19% since June 4—Lee’s first [...]
SEOUL, June 12 (Korea Bizwire) — Hyundai Motor is doubling down on its push into the high-performance electric vehicle market with the upcoming debut of the Ioniq 6 N, a sleek and powerful EV sedan poised to rival models like the Porsche Taycan. On Thursday, the automaker released teaser images of the Ioniq 6 N, [...]
SEOUL, June 12 (Korea Bizwire) — BMW Korea announced Thursday it has signed an extension with the LPGA Tour to run a tournament in South Korea until 2029. BMW Korea has been the title sponsor for the BMW Ladies Championship, the lone LPGA tournament held here each year, since 2019. The first two editions of [...]
SEOUL, June 12 (Korea Bizwire) — South Korea’s top central banker on Wednesday emphasized the urgent need for economic stimulus to support recovery but warned of “serious side effects” if the government relies too heavily on such measures. Bank of Korea (BOK) Gov. Rhee Chang-yong made the remarks during a speech at a ceremony marking [...]
SEOUL, June 12 (Korea Bizwire) — South Korea’s antitrust regulator said Thursday that it has rejected a proposed mileage integration plan submitted by Korean Air Lines Co. and Asiana Airlines Inc., citing insufficient details and consumer benefit concerns. The Fair Trade Commission (FTC) said the plan, submitted earlier in the day as part of the [...]
DAEJEON, South Korea, June 12 (Korea Bizwire) — A surge of green algae in Daejeon’s three main rivers — the Gapcheon, Yudeungcheon, and Daejeoncheon — has sparked criticism from environmental groups, who argue the bloom is a direct result of large-scale dredging operations carried out in recent years. In a joint statement released Wednesday, the Green [...]
SEOUL, June 12 (Korea Bizwire) — The proportion of South Korean companies unable to cover their interest expenses with operating profits reached an all-time high in 2024, underscoring persistent financial stress among smaller firms despite improved overall corporate earnings. According to the Bank of Korea’s annual corporate management analysis released Wednesday, 40.9% of non-financial, for-profit companies [...]