SEOUL, Sept. 6 (Korea Bizwire) – BMW Korea is maintaining a lead in South Korea’s imported vehicle market so far this year, industry data showed Friday, as main rival Mercedes-Benz Korea is faced with a brand reputation setback after a massive fire that broke out from one of its electric vehicles. According to the Korea [...]
SEOUL, Aug. 22 (Korea Bizwire) –Car output fell more than 17 percent on-year in July due to weak domestic demand and partial strikes at some companies, industry data showed Thursday. According to the Korea Automobile & Mobility Association, the total production volume of five automakers last month totaled 290,910 units, down 17.6 percent from [...]
SEOUL, July 13 (Korea Bizwire) – South Korean consumers show the highest enthusiasm for using artificial intelligence (AI) technology on mobile devices, according to a study released by Samsung Electronics on July 11. The findings were unveiled at the “Salon de AI,” a Galaxy AI media forum held in Paris, following the company’s Galaxy product launch [...]
SEOUL, Jun. 23 (Korea Bizwire) – South Korea’s car exports are forecast to reach a record high this year, driven by solid demand for eco-friendly models and sport utility vehicles, an industry association said Sunday. According to the Korea Automobile and Mobility Association (KAMA), the country’s car exports are projected to grow 5.4 percent on-year [...]
SEOUL, Jun. 23 (Korea Bizwire) – Research and development (R&D) expenditures by major South Korean companies hit an all-time high last year despite their falling sales amid an economic slowdown, data showed Sunday. The country’s top 1,000 companies made investments of 72.5 trillion won (US$52.12 billion) combined in 2023, up 8.7 percent from a year [...]
SEOUL, Jun. 4 (Korea Bizwire) – As the growth of budget mobile carriers persists in South Korea, SK Telecom, the nation’s largest mobile operator, has continued to lose overall market share. However, a new report shows the company still commands a significant portion of 5G subscriptions. According to a report evaluating the competitiveness of South Korea’s [...]
SEOUL, May 26 (Korea Bizwire) – The number of passengers on foreign airlines for international routes outpaced those of South Korea’s two full-service carriers in April, data showed Sunday, amid a rise in the number of overseas tourists visiting the country. The number of passengers for routes in and out of South Korea on foreign [...]
SEJONG, April 24 (Korea Bizwire) – South Korean livestock farms generated more than 50 million tons of manure last year, with most of it being repurposed as compost and liquid fertilizer, according to a government survey. The Ministry of Agriculture, Food and Rural Affairs announced on April 24 the results of its 2023 livestock environmental survey, [...]
SEOUL, April 21 (Korea Bizwire) – Corporate direct financing in South Korea shrank more than 22 percent from a month earlier in March due to a sharp decline in corporate bond issuances, data showed Sunday. Local firms raised a combined 20.5 trillion won (US$14.86 billion) by selling stocks and bonds last month, down 22.5 percent [...]
SEOUL, Feb. 12 (Korea Bizwire) – South Korea boasted the fourth-largest number of Starbucks outlets globally as of last year, driven by robust demand from local consumers. According to data released Monday by the U.S. coffee giant, South Korea had 1,893 Starbucks stores in 2023, marking an increase of 116 from the previous year. Despite [...]