SEOUL, May 10 (Korea Bizwire) — CJ Olive Young Corp., the distribution unit of South Korean food-to-cosmetics conglomerate CJ Group, said Friday it will set up a business entity in Japan by June to supply its cosmetics products to local distribution channels. CJ Olive Young plans to open an office in Japan within the first [...]
SEOUL, May 9 (Korea Bizwire) – HD Hyundai, in collaboration with Palantir Technologies, has unveiled its artificial intelligence-based unmanned surface vessel (USV), codenamed Tenebris, at the AI Expo for National Competitiveness held in Washington D.C. on May 7 and 8. The event, hosted at the Walter E. Washington Convention Center, attracted over 150 major U.S. defense [...]
SEOUL, May 9 (Korea Bizwire) — Emart24, a South Korean convenience store chain, said Thursday it has partnered with local cryptocurrency exchange Bithumb to sell the “bitcoin meal box” by the end of this month. Under a partnership with Bithumb, Emart24 plans to sell 30,000 such meal boxes at 5,900 won (US$4.3) per product by [...]
SEJONG, May 8 (Korea Bizwire) – Sam’s Club, the membership-only retail warehouse chain owned by Walmart, is eager to purchase Korean products across several categories, presenting a significant opportunity for small and medium-sized Korean companies looking to penetrate China’s consumer market. The Korea Trade-Investment Promotion Agency (KOTRA) revealed on May 7 a list of items that [...]
SEOUL, May 8 (Korea Bizwire) – Coupang Eats, the food delivery service from the e-commerce giant Coupang, has significantly extended its lead over its rival Yogiyo in terms of monthly active users, according to data from WiseApp, a mobile app analysis service. In April, Coupang Eats had 6.97 million active users, surpassing Yogiyo’s 5.76 million by [...]
SEOUL, May 8 (Korea Bizwire) – Starbucks Korea announced on May 7 that the cumulative number of customers using personal reusable cups at its domestic stores reached the 150 million milestone last month. The use of reusable cups saw a sharp rise, skyrocketing from 9.39 million instances in 2018 to 29.35 million last year. In the [...]
SEOUL, May 7 (Korea Bizwire) – With the major food delivery apps in South Korea waging a “free delivery” war to lure customers, some franchise owners and restaurants have sparked controversies by charging higher prices for delivery orders compared to dine-in meals, citing the burden of the apps’ commission fees. On May 5, industry officials said [...]
SEOUL, May 7 (Korea Bizwire) – The relentless surge of Chinese e-commerce platforms like AliExpress, Temu, and Shein into the South Korean market, posing threats to domestic platforms, small businesses, and small manufacturers, appears to be losing momentum due to consumer dissatisfaction with shipping and returns, as well as repeated discoveries of hazardous substances including carcinogens [...]
SEOUL, May 7 (Korea Bizwire) — Officials from South Korean shipbuilder HD Hyundai Heavy Industries Co. have filed a criminal complaint against Hanwha Ocean Co. for alleged misrepresentation of facts and defamation in connection with the leak of military secrets, police said Tuesday. They lodged the complaint with the police Friday, alleging that Hanwha Ocean [...]
SEOUL, May 7 (Korea Bizwire) — The Cabinet on Tuesday approved a revision to the rule on the designation of large business groups and their chiefs for a watch list subject to stricter filing and other antitrust regulations, the regulator said. Under current law, conglomerates with total assets exceeding 5 trillion won (US$3.68 billion) are [...]