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S. Korea Losing Port Calls After Hanjin Shipping’s Bankruptcy

S. Korea Losing Port Calls After Hanjin Shipping’s Bankruptcy

BUSAN, April 21 (Korea Bizwire) – Global shipping companies have reduced their calls at South Korean ports despite adding more worldwide services, partly a result of Hanjin Shipping going bankrupt, a research organization said Friday. Four different shipping alliances have been realigned into three major players — 2M, The Alliance and Ocean Alliance — in [...]

South Korean Government Plans to Establish 30,000 Smart Factories by 2025

South Korean Government Plans to Establish 30,000 Smart Factories by 2025

SEOUL, Apr. 21 (Korea Bizwire) — The South Korean government is poised to bring the number of smart factories in the country up to 30,000 by 2015, with plans to train 40,000 skilled workers in preparation for the ever-expanding fourth industrial revolution. Speaking to small and medium size business owners during a meeting at the [...]

Samsung Estimated to Make Less Than 100,000 Won Per Galaxy S8 Sold: Sources

Samsung Estimated to Make Less Than 100,000 Won Per Galaxy S8 Sold: Sources

SEOUL, April 21 (Korea Bizwire) – Samsung Electronics Co. is estimated to make less than 100,000 won (US$88.20) for each Galaxy S8 smartphones sold, industry watchers said Friday, hovering far below the market price of 935,000 won. The calculation is based on the fact that Samsung’s mobile business saw its operating margin reach 10.8 percent [...]

Samsung Reinforces “Club des Chefs Korea” For Innovative Goods

Samsung Reinforces “Club des Chefs Korea” For Innovative Goods

From left are chefs Kang Min-goo, Lim Ki-hak, Kwon Hyung-jun, Yim Jung-sik and Lee Chung-hoo. (Image: Yonhap) SEOUL, April 21 (Korea Bizwire) – Samsung Electronics Co. said Friday a renowned South Korean baker has joined the list of chefs providing one of the world’s leading consumer electronics manufacturer with insight and expertise for the development [...]

Air Busan, T’way Open up New Routes to Japan amid THAAD Row

Air Busan, T’way Open up New Routes to Japan amid THAAD Row

SEOUL, April 21 (Korea Bizwire) – South Korean low-cost carriers Air Busan and T’way Air will set up new routes to Japanese cities as part of efforts to offset declines in demand from China, the companies said Friday.  The number of Chinese travelers has sharply declined following the ban on all travel packages to South [...]

Lotte’s Losses in China Compounded by Payment to Local Workers

Lotte’s Losses in China Compounded by Payment to Local Workers

SEOUL, Apr. 21 (Korea Bizwire) — Losses incurred by South Korean retail chain Lotte Mart from business suspensions in China are being compounded by salary payments to local employees, industry sources said Thursday. Lotte Mart, a highly successful affiliate of Lotte Group, had to temporarily close 74 of its 99 shops in China in February [...]

Galaxy S8′s Iris Scanner to Be Used on Financial Transactions

Galaxy S8′s Iris Scanner to Be Used on Financial Transactions

SEOUL, April 21 (Korea Bizwire) – South Korea’s credit card companies are seeking to apply the iris scanner adopted by Samsung Electronics Co.’s Galaxy S8 smartphones on mobile transactions, industry sources said Friday, lauding the feature’s security compared with fingerprints and passwords.  According to the sources, Samsung Card Co. is seeking to apply the iris [...]

Apparent Supply Shortage Affects Galaxy S8 Registrations

Apparent Supply Shortage Affects Galaxy S8 Registrations

SEOUL, April 20 (Korea Bizwire) – The number of Samsung Electronics Co.’s Galaxy S8 smartphones registered to mobile carriers in South Korea slowed, industry sources said Thursday, apparently due to a shortage in supply following record-breaking preorders. The distribution of Galaxy S8 smartphones began earlier in the week ahead of the official release slated for [...]