SEOUL, March 3 (Korea Bizwire) – South Korea’s retail giants, faced with cut-throat competition in the rapidly saturating domestic market, are turning their attention to overseas markets in conjunction with small and mid-sized businesses to secure a new growth driver, industry watchers said Thursday. The country’s three major retail conglomerates – Shinsegae Group, Lotte Group [...]
SEOUL, March 3 (Korea Bizwire) – A group of South Korean scientists have developed a way to detect major diseases such as cancer or diabetes through respiration, a feat which can bring a seismic change to the methods of diagnosing patient illnesses, Seoul’s science ministry said Thursday. A research team at the Korea Advanced Institute [...]
SEOUL, March 3 (Korea Bizwire) – Volkswagen and its luxury brand Audi plan to start the recall process for their emissions-faked vehicles sold in South Korea in late April following a delay caused by the Seoul government rejecting the companies’ measures to fix the problem for being insufficient, industry sources said Thursday. The two German [...]
SEOUL, March 3 (Korea Bizwire) – Coupang, a leading South Korean e-commerce operator, is expected to log mounting operating losses for 2015 as big investments in logistics capacity weighed on the financials of the startup company, industry sources said Thursday. Coupang is expected to log over 400 billion won (US$326.9 million) in operating losses when [...]
SEOUL, March 3 (Korea Bizwire) – Hyundai Motor Co. and Kia Motors Corp. — South Korea’s two major automakers — are showcasing major sport utility vehicle models at a motor show in Geneva in a bid to strengthen their presence in what is deemed to be one of just a few growing markets this year, [...]
SEOUL, March 3 (Korea Bizwire) – LG Electronics Inc., a latecomer to the virtual-reality (VR) segment, said Thursday its new smartphone camera that rotates 360-degrees officially connects to Google Inc.’s Street View service, announcing its full-fledged debut in the industry. South Korea’s No. 2 tech giant said it marked the first time for a smartphone [...]
China-based tech giant Xiaomi Inc., which has been sluggish in tapping overseas markets due to copyright-related issues, is set to speed up its expansion with a new flagship, industry sources said Thursday, engaging in new battles with top brands like Samsung and Apple in South Korea. (Image : Yonhap) SEOUL, March 3 (Korea Bizwire) – [...]
ULJIN, March 3 (Yonhap) – A five-hour drive southeast from Seoul takes you to the tranquil seaside port of Hupo, Uljin, North Gyeongsang Province. This time of the year, the bucolic little town is bustling and brimming with seafood connoisseurs ready to gorge on crabs. Reddish crustacean structures and paintings on the walls of buildings, [...]
SEOUL, March 2 (Korea Bizwire) – Kakao announced that it has released a new version of its online fund raising service ‘Heemanghae’ (meaning hope) now dubbed ‘Gachi Gachi with Kakao’ (together raising value), which is designed for mobile devices. ‘Heemanghae’ was an application that allowed users to create fundraising campaigns and collect or make donations. [...]
SEOUL, March 2 (Korea Bizwire) – A Korean government agency has ruled that suicide committed after long term depression should be considered as ‘suicide caused by disaster’, and accidental death benefits should be paid by insurance companies. The Consumers Dispute Settlement Commission (CDSC) in the Korea Consumer Agency ruled that accidental death benefits should be [...]