SEOUL, Nov. 20 (Korea Bizwire) – A growing concern over foreign street racers performing dangerous stunts on South Korean roads at night has emerged, with the group brazenly posting videos of their activities and taunting law enforcement on social media. The issue first gained public attention through recent posts on Bobaedream, an online automotive community, detailing [...]
SEOUL, Nov. 20 (Korea Bizwire) – Hyundai and Kia vehicles have been recognized for maintaining excellent value as used cars in the United States, earning high marks for residual value. The automakers announced on November 20 that the Hyundai Kona Electric and Kia Telluride were named winners in J.D. Power’s 2025 U.S. ALG Residual Value Awards. [...]
SEOUL, Nov. 20 (Korea Bizwire) – In a groundbreaking shift that signals South Korea’s gradual departure from its traditional corporate culture, Hyundai Motor Company has named José Muñoz as its first non-Korean chief executive officer in its 57-year history, marking a significant milestone for one of the country’s most prestigious companies. The appointment of Muñoz, who [...]
DONGDUCHEON, Nov. 20 (Korea Bizwire) – A derelict apartment complex that stood as a stark reminder of U.S. military presence for over two decades is getting a new lease on life as a cultural center in Dongducheon, a city north of Seoul. The city announced on November 19 that it will open a new Multi-Cultural Community [...]
WANDO, Nov. 20 (Korea Bizwire) – A delegation from the Australian Sustainable Seaweed Alliance (ASSA) recently visited Wando, South Korea’s leading seaweed production region, signaling growing international interest in the Asian nation’s marine farming expertise. The 15-member delegation, led by ASSA representative Jo Kelly, toured seaweed farms, processing facilities, and the Marine Bio Research Center in [...]
SEOUL, Nov. 20 (Korea Bizwire) – South Korea’s Defense Acquisition Program Administration (DAPA) announced plans to develop specialized semiconductors that can be widely applied across Korean weapons systems, marking a significant step toward technological independence in military hardware. The initiative, unveiled on November 19 at a defense semiconductor forum in Seoul’s Yeongdeungpo district, outlines a comprehensive [...]
SEOUL, Nov. 20 (Korea Bizwire) – Costco Korea, the South Korean arm of the American wholesale giant, plans to distribute more than half of its annual net profits as dividends to its parent company, according to regulatory filings released on November 19. The company reported operating profits of 218.6 billion won for the fiscal year ending [...]
INCHEON, Nov. 20 (Korea Bizwire) – On Yeonpyeong Island, a fishing community situated near the maritime border with North Korea, local fishermen are locked in a dispute with municipal authorities over the disposal of fishing nets laden with crab remains, highlighting the environmental and economic challenges facing South Korea’s coastal communities. In September, the Ongjin County [...]
SEOUL & AMMAN, Jordan, Nov. 19 (Korea Bizwire) – South Korea’s football captain Son Heung-min praised the resilience of the Palestinian national team following a tense 1-1 draw in a World Cup qualifier held under the shadow of ongoing conflict. The match, part of the third round of Asian qualifiers for the 2026 FIFA World Cup, [...]
SEOUL, Nov. 19 (Korea Bizwire) – POSCO, South Korea’s largest steelmaker, has ceased operations at its Pohang Steelworks’ No. 1 Wire Rod Mill after 45 years and 9 months of service. The closure, effective November 19, comes as the global steel market grapples with oversupply, particularly from low-cost Chinese imports, which have eroded profitability. The No. [...]