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‘Grooming Men’ Big Players in the Retail Industry

‘Grooming Men’ Big Players in the Retail Industry

SEOUL, Jul. 22 (Korea Bizwire) — Men who lavishly invest in fashion and beauty, so-called ‘grooming men’, have emerged as new flagship customers for the retail industry. Those who open their wallets without hesitation to improve their appearance are working hard to groom themselves, a thought that was unimaginable in the past, with emphasis on [...]

Uniqlo Apologizes for Remarks That Angered S. Korean Consumers

Uniqlo Apologizes for Remarks That Angered S. Korean Consumers

SEOUL, Jul. 22 (Korea Bizwire) — Fast Retailing Co., which owns Japanese fashion brand Uniqlo, on Monday issued an apology for remarks by its executive that have drawn criticism from South Korean consumers amid ongoing trade friction between Tokyo and Seoul. On July 11, Takeshi Okazaki, CFO of the Tokyo-based fast fashion brand, said during [...]

Drug Makers Scramble to Secure Permits for Generic Drugs Before New Regulations Kick In

Drug Makers Scramble to Secure Permits for Generic Drugs Before New Regulations Kick In

SEOUL, Jul. 22 (Korea Bizwire) — South Korean pharmaceutical companies are scrambling to produce generic drugs as the government plans to introduce a new policy to prevent unchecked production of generic drugs in the near future. The companies are attempting to secure as many permits as possible before the new policy kicks in and various [...]

Retail Giants Forecast to Deliver Disappointing Q2 Earnings

Retail Giants Forecast to Deliver Disappointing Q2 Earnings

SEOUL, Jul. 22 (Korea Bizwire) — South Korean retailers are likely to deliver disappointing earnings for the second quarter on stiff competition with online operators, with industry leader Emart Inc. expected to post the first deficit in its history, industry data showed Monday. Emart, the country’s largest hypermarket chain, operated by Shinsegae Group, is predicted [...]

Coupang Accused of Being a “Japanese Company” Amid Boycotts

Coupang Accused of Being a “Japanese Company” Amid Boycotts

SEOUL, Jul. 19 (Korea Bizwire) — Amid Japan’s recent trade offensive against South Korea and the ensuing boycott movement in the nation against Japanese products, Coupang Inc., a major e-commerce platform in the country, is suffering from accusations that it is a Japanese company. The accusers point to the fact that Masayoshi Son, a Korean [...]

Samsung SDI, Volvo Join Hands to Develop Battery Packs for Electric Trucks

Samsung SDI, Volvo Join Hands to Develop Battery Packs for Electric Trucks

SEOUL, Jul. 18 (Korea Bizwire) — Samsung SDI Co, a major electric vehicle battery maker, will join hands with Volvo Group to develop battery packs for electric trucks, the company said Thursday. In a strategic alliance with Sweden-based Volvo Group, one of the world’s largest manufacturers of commercial vehicles, Samsung SDI will provide battery cells [...]

S. Korean Mobility Sector in Crisis as Gov’t Caters to Taxi Industry

S. Korean Mobility Sector in Crisis as Gov’t Caters to Taxi Industry

SEOUL, Jul. 18 (Korea Bizwire) — A prolonged dispute between the taxi industry and the mobility service industry is drawing to a close as the Ministry of Land, Infrastructure and Transport announced new regulations on Wednesday obligating mobility platforms to pay public donations. The ministry also decided to restrict all mobility platforms except for those [...]

Coupang Introduces Electric Trucks Amid Competition for Eco-friendly Delivery

Coupang Introduces Electric Trucks Amid Competition for Eco-friendly Delivery

SEOUL, Jul. 18 (Korea Bizwire) — With the competition for eco-friendly delivery heating up, Coupang Inc. has introduced electric trucks. The South Korean e-commerce firm will deploy 10 Calmato EVs (electric vehicles) at the Coupang Logistics Service Delivery Hub in Daegu next month and is currently setting up recharging stations for the electric trucks. The [...]

Samsung, Others in Quest for Alternative Supply amid Trade Feud with Japan

Samsung, Others in Quest for Alternative Supply amid Trade Feud with Japan

SEOUL, Jul. 17 (Korea Bizwire) — Samsung Electronics Co. has begun testing etching gas critical for the production of semiconductors, a source familiar with the issue said Wednesday, as South Korea is struggling to cope with Japan’s export restrictions. Since July 4, Japan tightened regulations on exports to South Korea of resist, etching gas and [...]