SEOUL, April 17 (Korea Bizwire) — Hyundai Motor will temporarily suspend domestic production of its flagship electric vehicles, the Ioniq 5 and Kona EV, as weakening overseas demand and shifting global subsidy policies weigh heavily on exports. According to industry sources on April 17, Hyundai plans to shut down Line 12 at its Ulsan Plant 1 [...]
SEOUL, April 17, (Korea Bizwire) — Samsung Electronics retained its position as the global leader in smartphone shipments in the first quarter of 2025, according to multiple market research firms. However, a separate analysis based on sales volumes placed Apple in the top spot, raising questions about diverging metrics and the impact of U.S. trade [...]
CHEONGSONG•ANDONG, South Korea, April 17 (Korea Bizwire) — A series of large-scale wildfires that swept through South Korea’s northern Gyeongsangbuk-do Province earlier this year are threatening to severely reduce the country’s apple harvest, fueling concerns that soaring prices may again lead to so-called “golden apples” in the marketplace. The fires, which ravaged key apple-producing counties [...]
SEOUL, April 17 (Korea Bizwire) — In a move to strengthen protections for crime victims, South Korea’s Supreme Prosecutors’ Office and the Ministry of Employment and Labor have jointly revised internal guidelines to make it easier for affected workers to receive unemployment benefits. Announced on April 16, the new policy allows individuals who leave their jobs [...]
SEOUL, April 17, (Korea Bizwire) — As climate change shortens South Korea’s transitional seasons and extends the summer, retail sectors are seeing shifting consumer behaviors and divergent business fortunes. While spring fashion sales slump amid erratic weather and weak consumer sentiment, electronics retailers are benefiting from an early surge in demand for summer appliances. According [...]
SEOUL, April 17, (Korea Bizwire) — As artificial intelligence continues to transform societies, a new report reveals that AI-related negative incidents—ranging from deepfake pornography to suicide-linked chatbots—surged to a record high last year. Meanwhile, South Korea saw a decline in its global AI investment ranking, even as the number of domestically funded AI startups increased. [...]
ULSAN, South Korea, April 17, (Korea Bizwire) — In a breakthrough for sustainable energy, researchers at the Ulsan National Institute of Science and Technology (UNIST) have developed a new technology that produces hydrogen using only sunlight and sugarcane waste—without any external power source. Professors Ji-Wook Jang and Kwan-Yong Seo of the Department of Energy and [...]
SEOUL, April 17, (Korea Bizwire) — In a significant move to stabilize the nation’s troubled real estate project financing (PF) market, South Korea’s National Assembly has approved a bill enabling Real Estate Investment Trusts (REITs) to engage not only in property investment but also in development and leasing projects. The Land, Infrastructure and Transport Committee’s [...]
SEOUL, April 17 (Korea Bizwire) — As speculation swirls over a potential withdrawal of General Motors (GM) from South Korea amid mounting pressure from U.S. tariff policy under the Trump administration, GM Korea has publicly rejected the rumors and reaffirmed its long-term commitment to the local market. Speaking at the media launch of Cadillac’s newly [...]
SEOUL, April 16 (Korea Bizwire) — Cadillac has officially unveiled its revamped flagship SUV, The New Escalade, in South Korea, signaling a major push to expand its luxury footprint in the competitive domestic market. At a media launch event held April 16 at the Ibex Studio in Gwangmyeong, Gyeonggi Province, the General Motors (GM) luxury brand [...]