ULSAN, March 24 (Korea Bizwire) — With South Korea’s shipbuilding industry experiencing its strongest boom in 15 years, the Dong-gu district of Ulsan is taking steps to better accommodate its rapidly growing foreign population with new comprehensive support measures. The district council recently passed amendments to its foreign resident support ordinance, requiring the local government to develop, [...]
SEOUL, March 24 (Korea Bizwire) — South Korean companies are entering the competitive field of AI reasoning models, following the global excitement sparked by DeepSeek’s breakthrough R1 model. Upstage, a South Korean AI startup, plans to release its reasoning-focused AI model in the latter half of 2025, according to industry sources. This follows LG AI Research’s March [...]
SEOUL, March 23 (Korea Bizwire) — The number of South Korean companies with liabilities exceeding their assets has surged to its highest level in six years, signaling deepening concerns over corporate health amid delayed economic recovery and persistently high interest rates. According to a report released on Sunday by the Korea Economic Research Institute (KERI), 4,466 [...]
SEOUL, March 23 (Korea Bizwire) — Nearly half of South Koreans over the age of 50 who transitioned from wage employment to self-employment are earning less than the country’s minimum wage, highlighting the precarious financial situation of older entrepreneurs. According to a report released on Sunday by the Korea Employment Information Service, analysis of Korea Welfare [...]
SEOUL, March 23 (Korea Bizwire) — As the home appliance subscription market continues to expand in South Korea, Samsung Electronics is seeing remarkable growth in its subscription business, generating more than 200 billion won (approximately $138 million at an exchange rate of 1,450 won to the dollar) in revenue during the first two months of this [...]
SEOUL, March 23 (Korea Bizwire) — LG Electronics is strengthening its outreach to future customers and talent by partnering with top U.S. universities, the company announced Sunday. LG Electronics’ North America office hosted its annual “LG College Day” on March 21 at its regional headquarters, welcoming around 50 Princeton University students studying Korean language. Now in [...]
SEOUL, March 23 (Korea Bizwire) — Kia’s compact electric SUV, the EV3, has quickly become a dominant force in South Korea’s electric vehicle market, securing the top sales position this year and demonstrating broad appeal across age groups. According to industry data released Sunday, Kia sold 429 units of the EV3 in January and 2,257 in [...]
SEOUL, March 21 (Korea Bizwire) — The Bank of Korea has called for aggressive corporate investment and bold regulatory easing to accelerate South Korea’s service exports, emphasizing the need to build an independent content export infrastructure that doesn’t rely on foreign platforms. In a report titled “Current Status and Future Direction of South Korea’s Service [...]
DAEJEON, March 21 (Korea Bizwire) — South Korean researchers have created a transparent film that could revolutionize indoor 5G reception, eliminating the need for expensive signal repeaters while solving one of 5G’s most persistent problems: poor indoor coverage. The Electronics and Telecommunications Research Institute (ETRI) has announced the development of an intelligent reconfigurable surface (RIS) [...]
SEOUL, March 21 (Korea Bizwire) — After facing a surge in thefts that tarnished their reputation in the American market, Hyundai and Kia have seen a dramatic turnaround, with vehicle theft rates dropping significantly following the implementation of enhanced anti-theft measures. According to data from the National Insurance Crime Bureau (NICB), reported by Reuters on [...]