SEOUL, Dec. 18 (Korea Bizwire) — A consortium led by food conglomerate Harim Group was picked Monday as the preferred bidder for South Korea’s top container shipper HMM Co., creditors said, heralding the start of its privatization. Last month, two state agencies — the state-run Korea Development Bank (KDB) and the Korean Ocean Business Corp. [...]
SEOUL, Dec. 18 (Korea Bizwire) – A YouTube advertisement featuring the heartwarming tale of an excavator turned beloved pet has taken the online world by storm. Titled “My Ground Puppy Daebali,” the video ad was released by the construction equipment brand Develon, a subsidiary of HD Hyundai Infracore, in September. The video, a captivating human faux [...]
SEOUL, Dec. 18 (Korea Bizwire) – POSCO E&C is actively championing the significance of bees in safeguarding the global environment. In support of this cause, the company has crafted a series of animated videos addressing the critical issues of bee extinction and the severity of the garbage problem. Titled “Green Earth Guard Eco-Ranger,” the animated series, [...]
SEOUL, Dec. 15 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Friday it has won a US$500 million order to build three very large ethane carriers for an Oceanian shipper. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct the 98,000-cubic-meter vessels at [...]
SEOUL, Dec. 15 (Korea Bizwire) – IKEA Korea, the South Korean branch of the world’s largest furniture brand, has faced a continued downturn in its performance, reversing the growth observed last year. After experiencing a sales decline for the first time since entering the Korean market, IKEA Korea also posted its first fiscal-year loss this year. [...]
SEOUL, Dec. 14 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Thursday it has won a deal from a construction company in Saudi Arabia to supply 100 excavators. Under the deal, the construction equipment unit of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group plans to supply 70 units of its 22-ton excavators and 30 [...]
SEOUL, Dec. 14 (Korea Bizwire) – In South Korea, the rising trend of subscribing to multiple Over-The-Top (OTT) and online streaming services, such as Netflix, YouTube, Disney Plus, and Tving, is facing a new challenge: a series of price hikes that are increasing stress among subscribers. Recently, Netflix, already under scrutiny for banning account sharing among [...]
SEOUL, Dec. 13 (Korea Bizwire) – Reducing inter-floor noise presents a significant challenge for construction companies, especially in light of the government’s recent announcement that apartments failing to meet new inter-floor noise standards will not receive construction approval. Despite the government’s initiative to address inter-floor noise concerns, it is imperative for construction firms to devise effective [...]
SEOUL, Dec. 13 (Korea Bizwire) – The retail industry, traditionally centered on price and product competition, is now grappling with intense rivalry by adopting innovative approaches to store differentiation. In particular, there is a rising trend among consumers towards specialized stores that concentrate on a specific product category, acting as a catalyst for increased sales. A [...]
SEOUL, Dec. 12 (Korea Bizwire) — Canadian coffee brand Tim Hortons said Tuesday it will open 150 outlets in South Korea within five years as it plans to open its first store in southern Seoul on Thursday. Tim Hortons has decided to enter the Korean market, which has a vibrant coffee market where coffee consumptions [...]