SEOUL, Oct. 4 (Korea Bizwire) — With the Korean won plunging to record lows against the US dollar, discount store chains are scrambling to find ways to limit price increases for imported food products. Emart Inc. has been following changes in exchange rates in real-time, purchasing imported products with the exporting country’s currency. As a [...]
SEOUL, Oct. 4 (Korea Bizwire) — South Korean food and beverage giant SPC Group said Tuesday it has opened three new Paris Baguette bakery stores in France’s capital city of Paris this year, as it eyes expansion in the European country. The company said it opened two new stores in the business area of La [...]
SEOUL, Oct. 4 (Korea Bizwire) — The value of the aggregate retained earnings piled up by South Korea’s top 100 companies has continued to increase over the past 10 years, surpassing the 1,000 trillion won (US$697 billion) mark last year, data showed Monday. According to the data that Rep. Hong Sung-kook of the Democratic Party [...]
SEOUL, Oct. 3 (Korea Bizwire) — GS Group’s convenience store chain GS25 said Monday it has opened its 100th outlet in Mongolia since its entry into the East Asian country 16 months ago. GS25 aims to expand the number of outlets in Mongolia to more than 500 by 2025 by launching more customized food products. [...]
SEOUL, Oct. 3 (Korea Bizwire) — Model houses using metaverse technology are emerging as a new trend in the South Korean construction industry, as part of efforts to reduce the cost needed to build and operate real model houses as well as to reach a wider customer base without physical limits. Lotte Engineering & Construction Co., [...]
SEOUL, Sept. 30 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co. (DSME) announced on Thursday that it established a land-based test site within its R&D campus in Siheung, Gyeonggi Province as part of efforts to develop eco-friendly and smart ship technology. The newly-established facility is designed to verify the performance of propulsion systems used [...]
SEJONG, Sept. 29 (Korea Bizwire) — The number of companies doing business in South Korea edged up in 2021 from a year earlier amid the economic recovery, government data showed Thursday. Asia’s fourth-largest economy had 6.08 million businesses last year, up 0.7 percent, or 44,000, from 2020, according to the data from Statistics Korea. The [...]
DAEJEON, Sept. 29 (Korea Bizwire) — The Electronics and Telecommunications Research Institute (ETRI) said Wednesday it had developed a smart barn platform to help ensure effective livestock control and management. The newly-developed platform, dubbed TRIPLETS, can prevent disease by analyzing animal behavior 24 hours a day, while ensuring effective livestock management. The research team established [...]
SEOUL, Sept. 28 (Korea Bizwire) — Retail sales in South Korea marked the largest on-year growth so far this year in August on the back of the increase in people’s outdoor activities amid eased antivirus curbs and preparations for the Chuseok holiday, data showed Wednesday. The combined sales of 25 major offline and online retailers [...]
SEOUL, Sept. 28 (Korea Bizwire) — Sales of South Korea’s top 500 firms have soared nearly 40 percent over the past 10 years with the information technology and electronics sector taking up the biggest share, a corporate tracker said Wednesday. The combined top line of the leading businesses stood at 3,286 trillion won (US$2.3 trillion) [...]