SEOUL, Dec. 28 (Korea Bizwire) — South Korea’s advertising market grew 8.6 percent in 2021 from a year earlier, led by strong demand in digital advertisements, a government report showed Wednesday. Advertising expenses amounted to 18.9 trillion won (US$14.9 billion) last year, according to the report from the Ministry of Culture, Sports and Tourism. The [...]
SEOUL, Dec. 23 (Korea Bizwire) — E-Mart Inc.’s convenience store chain Emart24 on Friday opened its first store in Singapore, company officials said, becoming the first Korean convenience store chain to operate in the city state amid the retailer’s push for overseas expansion. The first store is located in the Jurong Point shopping center, west of [...]
SEOUL, Dec. 23 (Korea Bizwire) — South Korean shipbuilding, oil refining and machinery conglomerate HD Hyundai said Thursday its shipbuilding units succeeded in developing the country’s first liquid natural gas (LNG)-hydrogen mixed-fuel engine. Korea Shipbuilding & Offshore Engineering Co. and its affiliate Hyundai Heavy Industries Co. jointly announced on the completion of performance tests for [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korean confectionary maker Orion Corp. said Thursday its Vietnam subsidiary, Orion Food Vina Co., has posted over 400 billion won (US$313.8 million) in sales in the first 11 months of the year, the most since its establishment in 2005. The subsidiary posted 406.7 billion won in sales in [...]
SEJONG, Dec. 22 (Korea Bizwire) — The number of newly established companies in South Korea decreased 3.4 percent on-year in 2021 amid weak business sentiment sparked by the pandemic, data showed Thursday. Last year, the number of newly created firms came to 1.02 million, down 36,000 from a year earlier, according to the data compiled [...]
SEOUL, Dec. 21 (Korea Bizwire) — SK Inc., the holding company of South Korea’s SK Group, said Wednesday it will offer an interactive space featuring a carbon-neutral future embedded with green technologies at an upcoming U.S. tech show. Its showroom at CES, set to take place in Las Vegas from Jan. 5-8, will demonstrate a [...]
SEOUL, Dec. 21 (Korea Bizwire) — Loan guarantees among affiliates of South Korea’s top 30 conglomerates surged nearly 21 percent in the first nine months of the year due to a credit crunch stemming from high interest rates, a corporate tracker said Wednesday. The debt payment guarantees among 207 out of the groups’ affiliates totaled [...]
SEOUL, Dec. 21 (Korea Bizwire) — The prices of popular cakes selling at South Korea’s major bakery and coffee chains rose sharply over the past year amid high inflation. The price of Paris Baguette’s Strawberry Fraisier Cake rose to 32,000 won (US$24.90) from 27,000 won last year. A Twosome Place’s Strawberry Fresh Cream Cake saw [...]
SEOUL, Dec. 20 (Korea Bizwire) — A total of 205 medium-sized companies grew to earn the status of large conglomerates last year on rising sales and profits amid an economic recovery, government data showed Tuesday. Leading container shipper HMM Co., energy firm OCI Company Ltd. and 203 other midsized, high-potential companies were classified as large [...]
SEOUL, Dec. 20 (Korea Bizwire) — South Korean large companies operated below 80 percent of their capacity in the third quarter of the year due to the global economic downturn, a corporate tracker said Tuesday. The average capacity utilization rate of 200 out of the country’s top 500 firms by sales came to 78.4 percent [...]