SEOUL, Jan. 12 (Korea Bizwire) — Chinese electric vehicle giant BYD is set to officially enter South Korea’s passenger car market with the launch of its compact electric SUV, the Atto 3. The brand inauguration event is scheduled for January 16, 2025, signaling BYD’s aggressive push into the competitive Korean automotive landscape. Industry sources revealed that [...]
SEOUL, Jan. 12 (Korea Bizwire) — South Korea’s decision to designate January 27 as a temporary public holiday has extended the Lunar New Year break to six consecutive days, sparking a surge in travel demand while causing concerns among small business owners in the food and beverage industry. The travel industry is witnessing a sharp increase [...]
JEJU, Jan. 12 (Korea Bizwire) — Jeju Island will commemorate the 93rd anniversary of the Jeju Haenyeo Anti-Japanese Movement, the largest women-led independence movement in Korea, with a special ceremony on January 12. The event will honor the courageous haenyeo (female divers) who, in 1932, led mass protests against Japan’s colonial exploitation and ethnic discrimination in [...]
WASHINGTON/SEOUL, Jan. 11 (Korea Bizwire) — The Korean American grassroots organization, Korean American Public Action Committee (KAPAC), has publicly condemned Rep. Young Kim (R-CA) for her defense of what it described as “pro-coup forces” aligned with South Korean President Yoon Suk-yeol. KAPAC criticized Kim for remarks made in a recent op-ed published by The Hill, [...]
SEOUL, Jan. 10 (Korea Bizwire) — South Korea is ramping up its global leadership in shipbuilding by forging a new partnership with the United States and advancing next-generation maritime technologies. The government announced plans to establish a cross-departmental task force to strengthen collaboration with Washington, particularly in ship maintenance, repair, and overhaul (MRO), aligning with [...]
JEJU, Jan. 10 (Korea Bizwire) — Hot Pink Dolphins, a marine conservation organization, issued a statement on January 9 calling for swift parliamentary passage of an amendment to Jeju’s Special Act that would introduce a groundbreaking “ecological corporation” system. The proposed amendment, currently awaiting review by the National Assembly’s Public Administration and Security Committee, would allow [...]
SEOUL, Jan. 10 (Korea Bizwire) — Seoul residents aged 50 and above have significantly increased their spending over the past five years, while consumption among those in their 40s has remained flat or declined in many sectors, according to a recent study. According to a research report released on January 9 by the Seoul 50 Plus [...]
SEOUL, Jan. 10 (Korea Bizwire) — In 2024, the number of publicly listed companies on South Korea’s main stock exchange voluntarily disclosing sustainability reports rose by nearly 30%, reflecting growing awareness of environmental, social, and governance (ESG) principles. The Korea Exchange reported on January 9 that 204 companies listed on the KOSPI voluntarily released sustainability [...]
SEOUL, Jan. 10 (Korea Bizwire) — A South Korean court has awarded partial compensation to repatriated fishermen who were unlawfully detained, tortured, and falsely accused of espionage after being abducted by North Korea decades ago. However, the damages granted fell significantly short of the amounts sought by the plaintiffs, prompting frustration and plans for an [...]
SEOUL, Jan. 10 (Korea Bizwire) — In a stark reversal of fortune, South Korea’s leading battery manufacturers are bracing for significant fourth-quarter losses as the electric vehicle market faces a prolonged period of stagnating demand. LG Energy Solution, one of the country’s top battery makers, reported an operating loss of 225.5 billion won in the fourth [...]