SEOUL, Oct. 30 (Korea Bizwire) — Hyundai Motor Co. said Friday it has sold over 10,000 Nexo hydrogen fuel cell electric vehicles in the domestic market since its launch in early 2018. Hyundai began to sell the Nexo hydrogen model in the local market in March 2018 as it aimed to take the leadership position [...]
SEOUL, Oct. 30 (Korea Bizwire) — The government on Friday resumed a national discount coupon program aimed at resuscitating the domestic travel and dining industries that have suffered severely from the COVID-19 pandemic. The Central Disaster and Safety Countermeasure Headquarters said the government will start releasing discount coupons for travel programs, restaurants and lodging facilities [...]
SEOUL, Oct. 29 (Korea Bizwire) — Lee Seok-hee, the CEO of SK hynix Inc., said Thursday he believes the company’s 10.3 trillion won (US$9 billion) acquisition of Intel Corp.’s NAND memory business is not an expensive deal. South Korea’s No. 2 chipmaker last week announced it agreed to buy Intel’s non-volatile memory unit for $9 [...]
SEOUL, Oct. 29 (Korea Bizwire) — The operator of a website that exposes the identity of parents refusing to pay child support was found not guilty of defamation by a Seoul court on Thursday. The Seoul Western District Court acquitted Kang Min-seo of defamation charges over disclosing a man’s personal information on the website, Bad [...]
SEOUL, Oct. 29 (Korea Bizwire) — There are many ways in which things can go wrong for families who try to preserve their massive wealth for generations to come, like the famous saying, “Shirtsleeves to shirtsleeves in three generations.” To beat the “shirtsleeves” curse, however, the owner families of South Korea’s leading conglomerates, called chaebol [...]
SEOUL, Oct. 29 (Korea Bizwire) — The Supreme Court on Thursday upheld a 17-year prison sentence handed down by an appeals court for former President Lee Myung-bak on embezzlement and bribery charges. In February, the 78-year-old was sentenced to 17 years in prison, a fine of 13 billion won (US$10.9 million) and a forfeit of [...]
SEOUL, Oct. 29 (Korea Bizwire) — Hyundai Motor Co. on Thursday unveiled the design of the GV70 SUV under its independent Genesis brand as it strives to gain a share in the high-end vehicle market. The midsized GV70 is the second SUV model with the Genesis badge following the launch of the GV80 SUV in [...]
SEOUL, Oct. 29 (Korea Bizwire) — Disputes are arising between the medical industry and the pharmaceutical industry over the right to produce abortion pills as the government plans to allow medical abortion. The Ministry of Health and Welfare added a provision to allow medical abortion on top of the currently allowed surgical abortion. This will [...]
SEOUL, Oct. 29 (Korea Bizwire) — Starbucks Korea’s ‘I’ll Be Bag,’ a cooling bag specially designed by the coffee chain and SSG.COM for early morning deliveries, is becoming the next ‘Summer Ready Bag’ as it continues to gain popularity. SSG.COM, integrated online shopping mall operated by retail giant Shinsegae Group, began giving out cooling bags [...]
SEOUL, Oct. 28 (Korea Bizwire) — Samsung Group, South Korea’s top conglomerate, has ushered in a new leadership following the passing of its longtime chief Lee Kun-hee, but daunting tasks lie ahead for the tech titan, from a possible governance structure change to fierce challenges from its foreign rivals. Lee, one of most influential businessmen [...]