GOYANG, Dec. 16 (Korea Bizwire) – The Grand Department Store in Ilsan, Gyeonggi Province, will permanently close its doors at the end of February, marking the final chapter for a retail chain that once maintained a significant presence in South Korea’s upscale shopping districts, including Seoul’s Gangnam area. According to industry sources on December 15, the [...]
SEOUL, Dec. 13 (Korea Bizwire) – Amid growing geopolitical and economic uncertainties, including escalating U.S.-China tensions and the anticipated inauguration of Donald Trump’s second term, South Korea’s major corporations are conducting high-level strategy meetings to fine-tune their business plans for 2024. Samsung Electronics to Focus on Core Competitiveness Samsung Electronics will host its biannual Global [...]
SEOUL, Dec. 13 (Korea Bizwire) – A new analysis has revealed that Japan stands as South Korea’s strongest competitor in global exports, with the two countries sharing nine out of their top 10 export items. According to a report titled “Analysis of Global Competition Trends in Top 10 Export Items” released by the Korea Trade-Investment Promotion [...]
SEOUL, Dec. 13 (Korea Bizwire) – With South Korea’s bottled water industry facing growing competition, Coca-Cola Beverage is making its bid for the premium segment with a new product launch, adding another player to an increasingly crowded market where longtime leader Jeju Samdasoo has seen its market share slip below 40%. Coca-Cola announced on December 12 [...]
SEOUL, Dec. 13 (Korea Bizwire) — Trade Minister Cheong In-kyo visited Japan on Friday to meet his Japanese counterpart and discuss ways to expand bilateral economic cooperation amid global business uncertainties, Seoul’s trade ministry said Friday. Cheong held the meeting with Vice Minister for International Affairs Takehiko Matsuo in Tokyo to share opinions on achieving [...]
SEOUL, Dec. 13 (Korea Bizwire) – Coupang announced on December 12 the launch of a “Safety Mark” system to help customers identify official communications from the company and prevent phishing scams. The Safety Mark will appear on text messages sent from Coupang’s official customer service number (1577-7011) and includes the company’s logo, a shield symbol [...]
SEOUL, Dec. 13 (Korea Bizwire) – South Korea’s construction workforce is aging rapidly, with the average age of construction professionals exceeding 51, up from 38.1 in 2004, according to a report released on Thursday by the Korea Research Institute for Construction Industry (KRCI). The increase of 13 years over two decades highlights a significant demographic shift [...]
SEOUL, Dec. 12 (Korea Bizwire) – Hyundai E&C has introduced a next-generation lifestyle app, consolidating its branded residential services into a single platform. The company announced on Thursday the launch of “My Hills” and “My THE H”, exclusive service apps for residents of its premium apartment brands, Hillstate and The H. The apps provide a seamless digital [...]
SEOUL, Dec. 12 (Korea Bizwire) — South Korea’s Ministry of SMEs and Startups announced the winners of the 2024 K-Startup Grand Challenge during a Demo Day event held at COEX on December 11. The competition, which aims to attract and support global startups in establishing their presence in South Korea, drew participation from 1,716 teams [...]
SEOUL, Dec. 11 (Korea Bizwire) – Samsung Engineering & Architecture (E&A) announced on December 11 that it has received a Letter of Award (LOA) for the Phoenix Bio-Refinery Project in Malaysia. The contract, valued at $955 million (₩1.37 trillion), accounts for 13.6% of the company’s revenue based on its consolidated financial statements from last year. The [...]