SEOUL, Aug. 3 (Korea Bizwire) — Three major South Korean battery makers saw their market share fall in the first half of the year from a year earlier despite solid growth, as bigger Chinese rivals further expanded their overseas foothold, a report said Thursday. The combined market share of the three — LG Energy Solution [...]
SEOUL, Aug. 3 (Korea Bizwire) — Controversy is brewing over Automobili Lamborghini S.p.A.’s policy of not refunding deposits to customers who cancel their purchases after signing contracts for new cars. According to industry sources, the Italian luxury sports car maker recently asked South Korean customers committed to purchasing models like the Urus and Huracan to [...]
SEOUL, Aug. 1 (Korea Bizwire) — Following a fatal stabbing rampage that occurred in daylight in Seoul’s Gwanak District, a series of online posts vowing to commit a similar crime is sparking controversy. Last week, police put a 20-something man under emergency detention on suspicions of uploading an online post the previous day threatening to “kill 20 women [...]
SEOUL, Aug. 1 (Korea Bizwire) — Unlike in the past, when foreign carmakers mainly released high-priced electric vehicles (EVs) in the Korean market, they are now launching a string of new models with lower prices and improved performance to increase the potential for subsidies. The competition was ignited by U.S. electric vehicle maker Tesla Inc.’s [...]
SEOUL, July 29 (Korea Bizwire) — South Korea issued a strong protest on Friday against Japan’s renewed territorial claim to its easternmost islets of Dokdo in an annual defense white paper, calling for its immediate retraction. Earlier in the day, Tokyo adopted the security document during a Cabinet session, renewing the claim to the pair [...]
SEOUL, July 28 (Korea Bizwire) — Following the recent suicide of an elementary school teacher in Seoul, which has been largely attributed to excessive complaints from students’ parents, an internet checklist has been circulating to identify so-called ‘monster parents.’ This checklist is being shared on online communities and social media, containing 11 questions aimed at [...]
SEOUL, July 28 (Korea Bizwire) – 2023 will mark a major turning point for Samsung Electronics’ smartphone business, its mobile chief said Friday, with a goal to push up the portion of foldable phones to more than 20 percent of Galaxy flagship sales worldwide. “This year will serve as a tipping point for Samsung to [...]
SEOUL, July 27 (Korea Bizwire) — South Korea’s total population fell for the second consecutive year in 2022 amid the country’s critically low births, data showed Thursday, with seniors taking up a larger portion of the population. The country’s total population dropped to 51.69 million in November, down 46,000, or 0.1 percent, from the previous [...]
SEOUL, July 26 (Korea Bizwire) — With backlash from franchisees growing over the South Korean unit of German sports brand Adidas’s decision to unilaterally terminate franchise contracts, lawmakers have stepped in to scrutinize the issue. The office of Rep. Choi Seung-jae, a member of the ruling People Power Party and the National Assembly’s National Policy [...]
SEOUL, July 21 (Korea Bizwire) — Following a recent case of suicide committed by a young homeroom teacher at an elementary school in Seoul’s Seocho Ward, rumors are spreading that excessive complaints from parents led the teacher to take such extreme measures. Teachers have increasingly faced verbal and physical assaults from students’ parents, according to [...]