Seoul, July 22 (Korea Bizwire) – Xiaomi (小米), a Chinese electronics company, is growing into a giant in the Korean market despite its humble name, which means ‘millet‘. With positive evaluations that their products perform well despite cheap prices, Xiaomi is dominating the online market as well as offline retailers such as HiMart. In addition, due [...]
Jeju, July 22 (Korea Bizwire) – A new Provincial Park has opened on Jeju Island, where visitors can familiarize themselves with Jeju Gotjawal, also known as ‘the lungs of Jeju’. ‘Gotjawal’ is a word from the local Korean dialect of Jeju, with the two words ‘Got’, meaning ‘forest’ and ‘Jawal’ meaning ‘bushes’, joined together. It [...]
Seoul, July 22 (Korea Bizwire) – Gary, one of the stars of hiphop duo ‘Leessang‘, has brought up problems with the Korea Music Copyright Association’s copyright revenue distribution practices. Gary expressed his anguish on his Facebook page. “I wish I could run away from this industry. I might die early because of the stress.” After [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s top tech giant Samsung Electronics managed to maintain its presence in the global smartphone market in the second quarter, but its archrival Apple suffered a setback in the face of growing demand for low- to mid-end devices, data showed Wednesday. Samsung took up 26.8 percent of the [...]
SEOUL, July 22 (Korea Bizwire) — South Korea’s asset management firms have seen an influx of money this year as their indirect investment vehicles enjoy popularity amid the low interest rate environment, data showed Wednesday. The combined assets under management by local firms reached 812.87 trillion won (US$704.1 billion) as of Friday, up 18.9 percent [...]
SEOUL, July 21 (Korea Bizwire) – The Solid-Optis consortium, which recently acquired cash-strapped handset maker Pantech, is seeking to grab a lion’s share of the Indonesian mobile communication market to revive the company. Byun Yang-kyun, chairman of Optis, a local optical manufacturer, said at the signing ceremony for its M&A contract with Pantech, “We will [...]
SEOUL, July 21 (Korea Bizwire) – The Suwon Regional Prosecutors’ Office announced that it had detained two industrial spies, who tried to send parts from a Samsung Electronics’ refrigerator to Chinese manufacturers. In addition, it indicted a former Samsung worker who delivered classified material related to investments in its refrigerator manufacturing facilities. The prosecutors’ office [...]
SEOUL, July 21 (Korea Bizwire) – Mercedes-Benz Korea announced that it has released a limited edition of its Mercedes-AMG GT S two-seat sports car for the domestic market. The Edition 1, which features a lightweight aluminum construction with a front mid-engine, provides a driving experience on par with a racing car, according to the company. The AMG [...]
ULSAN, July 21 (Korea Bizwire) – Ulsan’s many attractions are rapidly making it a hot spot for family travel. According to the Ulsan Metropolitan Government, approximately 11,000 guests stayed at its three largest accommodations including Hyundai Hotel, and 80 percent of them came to Ulsan with their children. City officials explain that the large number [...]
JEJU, July 21 (Korea Bizwire) – Jumping on the bandwagon of easy to obtain driver’s licenses, Chinese citizens are flocking to Korea to get their driving permits. With the resorts and tourist attractions on Jeju Island becoming particularly popular, more than 900 licenses have been issued to Chinese “tourists” who mix sightseeing with driving lessons. According [...]