SEOUL, July 22 (Korea Bizwire) — As record-breaking heat and monsoon rains sweep across South Korea this month, a growing number of consumers are opting to spend their leisure time indoors — fueling a retail phenomenon known as “mallcations” and delivering a significant sales boost to department stores and outlet malls. According to major retailers, [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s mid-sized and smaller business groups are increasingly leveraging mergers and acquisitions (M&A) to expand their reach, diversify services, and create synergies between legacy businesses and emerging growth engines — from hospitality and aviation to cosmetics, food tech, and education. Recent deals underscore how cross-sector integration is reshaping [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s imported car market is on a sharp rebound in 2025, reversing a two-year contraction as demand for eco-friendly and high-end models soars, supported by a wave of new releases and increased purchases by consumers in their 40s and corporate buyers. According to the Korea Automobile Importers & [...]
SEOUL, July 21 (Korea Bizwire) — A record number of foreign medical school graduates have passed South Korea’s preliminary medical licensing exam this year, marking a more than threefold increase from the previous year, signaling a shifting landscape in the country’s medical profession. According to the Korea Health Personnel Licensing Examination Institute on July 20, [...]
SEOUL, July 21 (Korea Bizwire) — South Korea’s railway network is witnessing a major surge in foreign ridership, with nearly 3 million international travelers using high-speed and conventional trains in the first half of 2025 — nearly double the number from two years ago. According to data from KORAIL and SR, operator of the Suseo [...]
SEOUL, July 21 (Korea Bizwire) — Renault Group on Monday announced the appointment of Nicolas Paris as the new chief executive officer (CEO) of Renault Korea Motors Co., according to the automaker. According to Renault Korea, Paris will succeed current CEO Stephane Deblaise, who has been tapped to lead Renault Group’s operations in India, effective [...]
SEOUL, July 21 (Korea Bizwire) – Chey Tae-won, chairman of South Korea’s SK Group, recently met with OpenAI chief executive officer (CEO) Sam Altman in San Francisco to discuss potential collaboration on artificial intelligence (AI) infrastructure and broader strategic partnerships, according to industry sources Monday. Chey visited OpenAI’s headquarters in San Francisco in early July [...]
SEOUL, July 21 (Korea Bizwire) — Hyundai Motor Co. and its smaller affiliate Kia Corp. have won a combined 11 honors — two Best of the Best and nine Winner awards across eight categories — at the 2025 Red Dot Product Design competition, Hyundai Motor Group said Monday. Hyundai’s City-Pod and Urban-Pod, along with Kia’s [...]
TONGYEONG, South Korea, July 21 (Korea Bizwire) — One of Tongyeong’s most iconic landmarks, the Tongyeong Bridge, is set to undergo a striking transformation into a work of art that blends infrastructure with cultural heritage. The city of Tongyeong announced on Sunday that it is in the final stages of a major renovation project aimed at [...]
SEOUL, July 19 (Korea Bizwire) — Despite growing awareness of multiculturalism in South Korea, a new national survey reveals that while a significant portion of Koreans are open to having immigrants as neighbors or coworkers, far fewer are willing to accept them as close family members. According to a report released Friday by the Korea [...]