SEOUL, Aug. 26 (Korea Bizwire) — About 6 out of 10 workers at South Korean shipbuilding companies turned out to be “non-affiliated” employees of subcontractors rather than the shipbuilders that use their services, government data showed Thursday. According to the Ministry of Employment and Labor, there were around 5.2 million regular workers hired by the [...]
SEOUL, Aug. 26 (Korea Bizwire) — BGF Retail Co., the operator of CU convenience stores, said Thursday it had formed a business agreement with MOBINN, an in-house startup of Hyundai Motor Co., to launch a robot delivery pilot service. After establishing a last-mile business consultative body, the two companies are expected to launch the convenience [...]
SEOUL, Aug. 25 (Korea Bizwire) — Hyundai Engineering Co. on Tuesday (local time) held a special ceremony to celebrate the completion of a water purification plant in the Democratic Republic of the Congo. This project involved the construction of a water purification plant with a capacity of processing 35,000 tons of water per day and [...]
SEOUL, Aug. 24 (Korea Bizwire) — Ediya Coffee, South Korea’s third-largest coffee franchise by sales, said Wednesday it will open a store in Guam in December in the latest move to seek growth beyond the saturated Korean coffee market. Ediya hopes its cafe near the Antonio B. Won Pat International Airport in the U.S. Pacific [...]
SEOUL, Aug. 24 (Korea Bizwire) — The number of new property developer registrations reached an all-time high in the first half of this year despite the real estate market’s entry into an adjustment phase, thanks to rising demand for the development of non-residential buildings, including shopping centers. According to the Ministry of Land, Infrastructure and [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korean low-cost carriers are enjoying a sharp increase in sales of in-flight meals on the back of increasing demand for overseas travel. Jeju Air Co., for instance, sold a total of 4,600 in-flight meals through advance orders last month, up 156 percent from June and 411 percent from [...]
SEOUL, Aug. 23 (Korea Bizwire) — Mobility service provider T Map Mobility said Monday it was the beneficiary of an investment of 200 billion won (US$149 million) from KB Kookmin Bank. With this investment, the retail lender emerged as T Map Mobility’s fourth-largest shareholder with an 8.3 percent stake. T Map Mobility said this is [...]
SEOUL, Aug. 22 (Korea Bizwire) — South Korea’s largest car-sharing platform operator, SOCAR Inc., fell far below its initial public offering (IPO) price on its first day of trading in the face of unfavorable market conditions. SOCAR closed at 26,300 won (US$19.56) won on the main bourse, down 6.07 percent from the 28,000 won opening [...]
SEOUL, Aug. 22 (Korea Bizwire) — Hyundai Motor Group and LG Energy Solution (LGES) Ltd. have secured US$710 million in loans and guarantees for their joint project to build a battery cell plant in Indonesia, the companies said Monday. Hyundai and LG will receive the funds from five different international financial firms with a 10-year [...]
SEOUL, Aug. 19 (Korea Bizwire) — McDonald’s Korea said Friday it will raise prices of its main products for the second time in about six months in a move seen as intended to transfer soaring raw material and logistical costs over to customers. The Korean unit of the global fast food giant McDonald’s said it [...]