SEOUL, Jan. 6 (Korea Bizwire) — South Korea’s K-Beauty industry has outpaced French luxury giants like Chanel and Lancôme to become the top imported cosmetics category in the United States and Japan, solidifying its position as a global cosmetics powerhouse. According to South Korea’s Ministry of Trade, Industry, and Energy, the country’s cosmetics exports exceeded [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s five major automakers saw domestic sales in 2024 fall to their lowest level in 16 years, amid high interest rates and weakening demand for vehicles, including electric cars. Despite the slump, Kia achieved a milestone as its Sorento SUV became the nation’s best-selling car—the first time a recreational [...]
GWANGJU, Jan. 3 (Korea Bizwire) —On January 3, 2025, as South Korea’s High-Ranking Officials’ Crime Investigation Agency (CIO) attempted to execute an arrest warrant against President Yoon Suk-yeol on charges of insurrection, a symbolic gesture captured national attention. At Gwangju City Hall, a Virginia state flag—known for its historical association with resistance against tyranny—was raised, [...]
SEOUL, Jan. 3 (Korea Bizwire) — South Korea has introduced a revised subsidy scheme for electric buses in 2025, offering additional financial incentives to manufacturers of hydrogen and school buses while implementing stricter criteria to prioritize safety and transparency. The move is seen as a response to concerns over the growing presence of Chinese-made electric [...]
SEOUL, Jan. 3 (Korea Bizwire) — Samsung Electronics Co. said Friday it will unveil a new television featuring new three-dimensional audio technology developed in partnership with Google at the upcoming CES 2025. The 3D audio technology, Eclipsa Audio, will be integrated into its 2025 TV and soundbar lineup to be premiered at this year’s CES [...]
SEOUL, Jan. 3 (Korea Bizwire) — A South Korean research team has developed a groundbreaking amorphous semimetal material with properties distinct from traditional metals, paving the way for advancements in next-generation semiconductor technology. Researchers at Ajou University, led by Professor Oil Kwon of the Department of Intelligent Semiconductor Engineering and Electronics Engineering, announced on January 3 [...]
SEOUL, Jan. 2 (Korea Bizwire) — The Ministry of Food and Drug Safety (MFDS) announced significant reforms to streamline drug approval processes in 2025, including reducing the time required for registering imported active pharmaceutical ingredients (APIs) and simplifying compliance procedures for low-risk manufacturers. A dedicated task force will now handle new drug approvals, increasing company consultations [...]
BUSAN, Jan. 2 (Korea Bizwire) — Veterinary healthcare workers in Busan are raising alarms about radiation exposure during routine animal CT scans, highlighting growing occupational safety concerns in the city’s burgeoning pet care industry. “Unlike human patients, animals need to be physically restrained during CT scans, which means our hands are routinely exposed to radiation,” a [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 a series of policy changes for 2025, including enhanced subsidies for young buyers of electric vehicles (EVs) and expanded environmental initiatives. Young individuals aged 19 to 34 purchasing their first EV will now receive a 20% additional subsidy on top [...]
OXFORD, Jan. 2 (Korea Bizwire) — In 2006, renowned British demographer David Coleman, now 78 and an emeritus professor at Oxford University, made a stark prediction at a UN population forum: South Korea could become the first nation to face population extinction. Meeting at his Oxford home on December 28, Coleman reflected on his earlier warning, [...]