SEOUL, August 6 (Korea Bizwire) — South Korea’s Supreme Court has ruled that Sungdo ENG, the parent company of Chinese contractor Sungdo Construction, must pay damages — including delayed interest — to a group of Chinese insurers over a 2013 fire at SK Hynix’s semiconductor plant in Wuxi, China. The fire, which broke out in [...]
SEOUL, Aug. 6 (Korea Bizwire) — HD Hyundai Heavy Industries Co., South Korea’s leading shipbuilder, said Wednesday it has secured a maintenance, repair and overhaul (MRO) project for a U.S. Navy cargo ship. The company will carry out the MRO work on the USNS Alan Shepard (T-AKE-3), a 41,000-ton Lewis and Clark-class dry cargo vessel, [...]
SEOUL, August 6 (Korea Bizwire) — South Korea’s top 100 publicly listed companies have significantly ramped up shareholder returns, with total payouts rising by more than 35% over the past two years, according to new data released Wednesday by corporate tracker CEO Score. The report found that shareholder returns — including dividends and share buybacks [...]
SEOUL, August 6 (Korea Bizwire) — At a recent evening lecture in Seoul’s Sejong Center, an unlikely figure captivated a Korean audience with insights into traditional Korean aesthetics. Mark Tetto, an American-born investor and television personality, offered a foreign perspective on the minimalist beauty embedded in Korean art — and how it manifests in Ilmu, a [...]
BUSAN, August 6 (Korea Bizwire) — South Korea’s fisheries authorities have issued a public advisory following the rapid spread of the subtropical Blue Button Jellyfish (Porpita porpita) across the nation’s southern and eastern coasts, raising concerns over potential allergic reactions in beachgoers. According to the National Institute of Fisheries Science (NIFS), the jellyfish—first detected off [...]
SEOUL, August 6 (Korea Bizwire) – A new study by South Korea’s National Pension Research Institute has challenged a widely held assumption that the country’s economic and labor trends will eventually converge with those of advanced economies like the United States and Japan. In a report titled “A Study on the Convergence of Demographic and [...]
SEOUL, August 6 (Korea Bizwire) — South Korea has nearly completed the installation of more than 10,000 smart electric vehicle (EV) chargers designed to prevent overcharging-related fires, the Ministry of Environment announced on Tuesday. As part of a broader rollout that began last year, 42,032 smart chargers are being deployed nationwide, with 11,039 units already [...]
SEOUL, August 5 (Korea Bizwire) – South Korea’s major banks are ramping up restrictions on home-backed loans and jeonse (long-term rental deposit) financing, signaling a coordinated move to cool the property market and manage household debt more tightly. On August 5, Hana Bank announced it would halt new applications for mortgage and jeonse loans scheduled for [...]
SEOUL, August 5 (Korea Bizwire) — A team of South Korean scientists has unveiled a breakthrough in electric vehicle (EV) battery technology that could extend battery life more than fivefold, potentially revolutionizing the performance and longevity of EVs. Researchers led by Professor Cho Chang-shin of POSTECH (Pohang University of Science and Technology) and Professor Yoon Sung-hoon [...]
SEOUL, Aug. 5 (Korea Bizwire) — Hanwha Group has recorded the largest increase in corporate value among South Korea’s top 10 business groups this year, buoyed by surging stock prices in its defense and shipbuilding affiliates and optimism over its role in U.S.-Korea trade negotiations. According to data compiled from the securities industry and Hanwha Group, [...]