SEOUL, July 25 (Korea Bizwire) — South Korea’s automotive parts sector continues to grow in both scale and profitability, but remains behind global competitors in key performance metrics such as profitability and research investment, according to a new report from the Korea Automotive Technology Institute. The report, released Thursday, analyzed 213 domestic parts manufacturers—including major [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s latest round of stimulus coupons, intended to boost domestic consumption, is drawing scrutiny as some recipients are reportedly using them to purchase large quantities of tobacco products—prompting renewed calls to restrict eligible items. According to reports gathered by Yonhap News Agency on Friday, a significant number of [...]
SEOUL, July 25 (Korea Bizwire) — A research team at Seoul National University has revealed that a single street tree can absorb an estimated 27.1 kilograms of carbon dioxide annually, highlighting the significant role urban greenery plays in combating climate change. Using LiDAR (Light Detection and Ranging) technology and high-resolution cameras mounted on vehicles, the [...]
INJE, July 25 (Korea Bizwire) — Inje County in Gangwon Province announced Wednesday the launch of the 8th annual Misiryeong Healing Road 44-Second Film Festival, aimed at showcasing the scenic beauty and tourism appeal of National Route 44 through short videos. The “Misiryeong Healing Road” is a picturesque 120-kilometer drive connecting Hongcheon, Inje, and Goseong [...]
SEOUL, July 25 (Korea Bizwire) — As discussions intensify around the adoption of Korean won-based stablecoins, credit card companies in South Korea are scrambling to respond, concerned about potential disruption to their traditional role in the payments ecosystem. According to financial industry sources on Thursday, the Credit Finance Association and eight major credit card companies [...]
SEOUL, July 25 (Korea Bizwire) — A vast majority of publicly listed South Korean companies are expressing deep concerns over potential adverse effects of a second wave of corporate law reforms, warning that new regulations could further undermine corporate growth and governance stability. According to a survey released Thursday by the Korea Chamber of Commerce [...]
SEOUL, July 25 (Korea Bizwire) — The brutal murder of a man by his father using a homemade firearm in Incheon’s Songdo district has reignited alarm in South Korea over the growing availability of online content teaching how to make illegal weapons. The incident has amplified calls for tighter regulation of do-it-yourself (DIY) gun and [...]
SEOUL, July 25 (Korea Bizwire) — South Korea’s credit card loan delinquency rate at general banks surged to a 20-year high in May, reflecting growing financial distress among vulnerable borrowers amid tightening credit conditions across the banking sector. According to data released Wednesday by the Bank of Korea, the delinquency rate on credit card loans [...]
CHUNCHEON, South Korea, July 24 (Korea Bizwire) – Chuncheon City has sparked online buzz by parodying a viral moment from a recent Coldplay concert in the United States, using it to promote an upcoming local event. On July 23, the city uploaded a short video to its official YouTube and Instagram channels titled “Food Tech [...]
SEOUL, July 24 (Korea Bizwire) – South Korean prosecutors have requested a 150 million won ($115,000) fine for Trevor Hill, former CEO of Audi Volkswagen Korea (AVK), in connection with the automaker’s diesel emissions manipulation scandal. During Hill’s first court hearing on Thursday at the Seoul Central District Court, prosecutors charged him with violating South [...]