SEJONG, April 17 (Korea Bizwire) —POSCO FutureM, a company developing secondary battery materials as a core business for the future, has provided its core workforce with shares worth 800 million won (US$609,000). The shares were given to key employees as restricted stock units (RSUs), and the employees can dispose of them only if they fulfill [...]
SEOUL, April 17 (Korea Bizwire) — Hyundai Motor Group sold over 100,000 electric vehicles (EVs) abroad in the first quarter of 2023. The company’s combined global EV sales during this period were 135,499 units, with domestic sales of 39,982 units and overseas sales of 104,517 units. Flagship EV models, such as the Hyundai Ioniq 5 [...]
SEOUL, April 14 (Korea Bizwire) — The commission income earned by banks from virtual asset exchanges in Korea was halved last year due to the market downturn. The five major virtual asset exchanges, including Upbit and Bithumb, paid a total of 20.4 billion won (US$15.5 million) to banks that signed contracts to issue real-name accounts in [...]
ULSAN, April 15 (Korea Bizwire) —The city of Ulsan in South Korea is expanding its electric vehicle (EV) charger supply program this year. From 2017 to 2021, the city supplied a total of 3,748 EV chargers for public and non-public use. The number of EVs in Ulsan increased by 293% in 2021 compared to the [...]
SEOUL, April 15 (Korea Bizwire) — Sales of hangover relievers have increased due to an increase in drinking parties as COVID-19 becomes endemic. Pills, sticks, and jelly products have become popular among the MZ generation as they are simpler and more delicious than the drink formulation. Sales of drinks increased by 61.6% year-on-year, but jelly [...]
SEOUL, April 14 (Korea Bizwire) —Homeplus, a large discount store in South Korea, has reported a 36% increase in sales of its own-brand “Homeplus Signature” products from January to March compared to the same period last year. The sales of private label products were particularly high in food categories such as refrigerated convenience foods, snacks, [...]
SEOUL, April 14 (Korea Bizwire) —Korea ranked fifth in the world for the number of clinical trials conducted by pharmaceutical companies in 2021, according to the Ministry of Food and Drug Safety and the Korea Clinical Trials Support Foundation. The United States was in first place, followed by China, Spain, and Germany. Seoul ranked first [...]
BORYEONGL, April 14 (Korea Bizwire) —Three seafood vendors have been arrested by the Boryeong Coast Guard Station for falsely labeling Japanese red sea bream as domestic seafood. The vendors were suspected of violating the Country of Origin Labeling Act, and anyone who falsely labels the origin of a product can face up to seven years [...]
SEOUL, April 13 (Korea Bizwire) —Golf courses in South Korea were charging full fees even when games were canceled due to bad weather, but have now revised their consumer terms and conditions after being criticized by the Korea Fair Trade Commission. The commission also ordered golf courses to correct unfair terms such as requiring prior [...]
SEOUL, April 13 (Korea Bizwire) —GS E&C, the owner of the Xi apartment brand, is expanding into the single-family home market. The company announced on Thursday that its subsidiary, XiGEIST, which specializes in wooden modular houses, will launch its website and commence business-to-consumer (B2C) sales in earnest. The modular houses are produced in a factory [...]