SEOUL, May 10 (Korea Bizwire) — Global tech behemoth Samsung Electronics Co. remained South Korea’s largest company by sales in 2022, with 42 businesses newly making the country’s top 500 firms’ list, a corporate tracker said Wednesday. Samsung Electronics, the flagship unit of South Korea’s leading family-controlled conglomerate Samsung Group, retained the No. 1 spot [...]
SEOUL, May 9 (Korea Bizwire) — The number of retailers selling products through digital marketplaces more than doubled over the past five years, data showed Tuesday, reflecting the growing popularity of online shopping. Some 543,000 businesses sold products via shopping platforms, such as Coupang and Naver in 2022, rising sharply from just 218,616 tallied in [...]
SEOUL, May 9 (Korea Bizwire) — South Korean shipyards lagged far behind their Chinese rivals in terms of new global orders to place second in the world in April amid plunging demand, industry data showed Tuesday. Local shipbuilders clinched a combined 380,000 compensated gross tons (CGTs) in new orders last month, taking up 20 percent [...]
SEOUL, May 8 (Korea Bizwire) — South Korea’s top wire and cable maker LS Cable & System Ltd. said Monday it has bagged a high-voltage cable supply deal worth around 2 trillion won (US$1.51 billion) from the Netherlands. Under the deal with Dutch state power firm TenneT, LS Cable will supply the high-voltage direct current [...]
SEOUL, May 7 (Korea Bizwire) — South Korea’s imports of Japanese beer more than doubled on-year in the January-March period, data showed Sunday, marking the highest amount since Tokyo’s export curbs against the Asian neighbor in 2019. Japanese beer imports came to US$6.62 million in the first quarter, soaring from $2.66 million tallied a year [...]
SEOUL, May 5 (Korea Bizwire) — South Korean cosmetics manufacturers are bolstering their offensive in the North American market as sales in China and Japan have fallen sharply. LG Household & Health Care Ltd.’s North American sales for the first quarter of this year amounted to 136.1 billion won (US$102 million), an increase of 21.1 [...]
SEOUL, May 5 (Korea Bizwire) — SK Group’s in-house education platform is receiving high praise from the global human resources (HR) industry for its excellent talent cultivation performance. The energy-to-telecom conglomerate said Thursday it was invited to attend the UNLEASH America 2023 conference, held in Las Vegas from April 25-27, and took charge of an [...]
SEOUL, May 4 (Korea Bizwire) — South Korea’s home shopping industry is turning to digital technology to win back “Generation MZ” consumers, which includes both millennials and Generation Z. Lotte Homeshopping created a virtual model named Lucy, who achieved a 100 percent sales record as a show host since her debut. In a demonstration show [...]
SEOUL, May 3 (Korea Bizwire) — POSCO Holdings Inc. said Wednesday it is spending US$441 million to build a nickel refining facility in Indonesia as it pushes to beef up its supply chains of the key secondary battery material. The factory will be located in the Weda Bay industrial park on the northeastern island of [...]
SEOUL, May 3 (Korea Bizwire) — South Korea’s department store chains are going all-out to attract male consumers who have emerged as big spenders recently. Shinsegae Department Store’s Gangnam branch, which has the highest sales among domestic department stores, remodeled its men’s section at the end of last month to target the “MZ generation,” a [...]