SEOUL, Jan. 16 (Korea Bizwire) — Lotte Home Shopping has officially launched its mobile game “Bellygom Matchland” in South Korea, accelerating its efforts to diversify its character intellectual property (IP) business. Announced on January 16, 2025, this move marks the company’s expansion into the gaming sector, becoming the first retailer in the industry to release a [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s Ministry of National Defense has announced plans to complete the launch of five reconnaissance satellites under the “425 Project” by sending two additional satellites into orbit this year. This move aims to bolster military surveillance capabilities, enabling near real-time monitoring of key targets in North Korea at [...]
SEOUL, Jan. 16 (Korea Bizwire) — LG Electronics is scaling back its nearly decade-long energy storage system (ESS) business to concentrate on its rapidly growing heating, ventilation, and air conditioning (HVAC) segment, bolstered by the global surge in artificial intelligence (AI). Industry sources on January 16 revealed that LG’s Eco Solution (ES) Business Division recently rebranded its [...]
SEOUL, Jan. 16 (Korea Bizwire) — For the first time since the 1997-1998 Asian financial crisis, South Korea’s imported car market has experienced a two-year consecutive decline in sales. According to the Korea Automobile Importers & Distributors Association (KAIDA) on January 15, the number of newly registered imported passenger vehicles in 2024 totaled 263,288 units, marking [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea’s Ministry of Culture, Sports and Tourism, in collaboration with the Visit Korea Committee, announced on January 15 the launch of the 2025 Korea Grand Sale, the largest edition to date. The event will run until February 28, aiming to attract foreign tourists during the off-peak winter season [...]
SEOUL, Jan. 16 (Korea Bizwire) — The South Korean government announced on January 15 its most significant reduction in data wholesale prices in a decade as part of its 2025 telecommunications policy aimed at strengthening the competitiveness of budget mobile carriers. The Ministry of Science and ICT revealed that the wholesale data rate, which budget [...]
POHANG, Jan. 16 (Korea Bizwire) — The Ministry of SMEs and Startups has extended the designation of Pohang’s small business special support zones in response to economic challenges faced by the city’s steel and secondary battery industries. According to Representative Lee Sang-hwi of the People Power Party on January 15, the ministry has renewed the special [...]
SEOUL, Jan. 16 (Korea Bizwire) — Samsung Electronics’ newly launched “Galaxy Easy Trade-in” program, which began on January 14, is facing a consumer backlash over what many consider to be underwhelming trade-in values for used devices. The program, which operates through Samsung.com, allows consumers to sell their Galaxy smartphones without requiring the purchase of a new [...]
SEOUL, Jan. 16 (Korea Bizwire) — Genesis, Hyundai Motor Group’s independent luxury brand, said Thursday it has released an updated version of its electrified GV70 sport utility vehicle (SUV) with enhanced driving range and design. The new model is equipped with an 84 kilowatt-hour fourth-generation battery, offering a range of 423 kilometers per charge. The [...]
SEOUL, Jan. 16 (Korea Bizwire) — The Ministry of Environment announced on January 15 that it has revised guidelines to extend government support for the removal of asbestos-containing slate roofing to small facilities serving the elderly and children. Slate roofing materials, which were widely used in the 1960s and 1970s, contain 10-15% asbestos, a Class 1 [...]