SEOUL, Sept. 24 (Korea Bizwire) — As South Korea’s major conglomerates approach annual reshuffling season, a new survey has revealed that only a small fraction of the country’s largest corporations have established independent CEO succession committees. According to corporate research firm Leaders Index, just 14 of the nation’s top 500 companies by revenue — or [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea is revisiting an ambitious plan to transform a small island into a showcase of renewable power, seeking lessons from past failures as the government doubles down on clean energy to meet surging demand from carbon neutrality goals and AI-powered data centers. The Ministry of Environment said this [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea is grappling with the surge in e-cigarette use, as health experts warn of toxic risks and public frustration grows over indoor vaping by celebrities and ordinary users alike. The government has launched a new campaign emphasizing the dangers of vaping, even as other countries tighten outright bans. [...]
SEOUL, Sept. 23 (Korea Bizwire) — A South Korean court has ruled that the government must compensate the family of a man who died of a brain hemorrhage a week after receiving a COVID-19 vaccine, marking a rare legal victory for claimants seeking recognition of vaccine-related injuries. The Seoul Administrative Court said in a ruling [...]
SEOUL, Sept. 23 (Korea Bizwire) — Hyundai Motor is making inroads into Europe’s most competitive markets, including France, Germany and the United Kingdom, where local and German brands have long dominated. The push is fueled by the popularity of its affordable Inster electric vehicle — sold in Korea as the Casper EV — and steady demand [...]
SEOUL, Sept. 23 (Korea Bizwire) — Hyundai Motor Group’s business portfolio and financial health compare favorably with those of major global automakers, but industry analysts warn that South Korea’s auto industry could lose ground unless Seoul secures a reduction in U.S. tariffs, now set higher than those for Japanese rivals. According to a report released Tuesday [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s three leading battery producers are gearing up for a fierce contest over the country’s second government-led energy storage system (ESS) project, a program worth more than 1 trillion won ($740 million) and slated for delivery in late 2027. The Korea Power Exchange disclosed last week that the second [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s e-commerce sector is undergoing a sharp consolidation, with a winner-takes-all structure emerging as Coupang and Naver entrench their dominance. Smaller players are collapsing or being forced into alliances, while global challengers from China accelerate their advance. The collapse of mid-tier platforms Tmon and Wemakeprice last year, which [...]
SEOUL, Sept. 23 (Korea Bizwire) — South Korea’s semiconductor rally is spilling over into smaller suppliers, as investor optimism over improving memory prices boosts not only giants like Samsung Electronics and SK hynix but also makers of materials, components and equipment. On Monday, Samsung Electronics closed up 4.77 percent at 83,500 won, touching an intraday [...]
SEOUL, Sept. 22 (Korea Bizwire) — South Korea is preparing to abolish a decades-old system that requires family members to act as legal guardians for psychiatric patients, a move hailed by advocates as a long-awaited step toward strengthening state responsibility for mental health care. According to officials and welfare experts on Sunday, the draft of the [...]