SEOUL, Dec. 8 (Korea Bizwire) – In a highly anticipated move, Samsung is gearing up to launch its latest semi-premium smartphone, the Galaxy S23 FE, in the domestic market, heightening consumer expectations a day before its official release. According to industry reports, Samsung is set to release the Galaxy S23 FE in South Korea on December [...]
SEOUL, Dec. 6 (Korea Bizwire) – Chinese e-commerce platform AliExpress said Wednesday it plans to invest 10 billion won (US$7.6 million) in South Korea over the next three years to better protect the intellectual property rights of South Korean brands on its platform. Ray Zhang, head of the Korean unit of AliExpress, made the remarks [...]
SEOUL, Dec. 6 (Korea Bizwire) — Twitch, a popular U.S.-based live game streaming platform, said Wednesday it plans to shut down its South Korean service in February next year due to high network usage fees in the country. In an announcement posted on its corporate blog, Twitch Interactive Inc. CEO Dan Clancy said the company [...]
SEOUL, Dec. 5 (Korea Bizwire) — Operators of Tving and Wavve, two major South Korean over-the-top (OTT) platforms, said Tuesday they have signed a memorandum of understanding to push for a merger in an apparent effort to compete with global streaming giants. But CJ ENM Co. and SK Square Co., respective owners of Tving and [...]
SEOUL, Dec. 6 (Korea Bizwire) – Foreign video streaming services such as Netflix and Disney+ are exerting significant influence on compensation for Korean actors, contributing to a surge in industry costs. With deep pockets, these platforms are actively acquiring top-tier actors and premium content. Reports indicate that Lee Jung-jae is poised to command approximately 1 billion [...]
SEOUL, Dec. 6 (Korea Bizwire) – A unique convenience store offering a diverse selection of over 200 ramen varieties has made its debut. Convenience store chain CU launched the industry’s inaugural ‘K-Ramen Specialty Convenience Store’ in Hongdae, Mapo-gu, Seoul, centering its theme around ramen—a product category that has been a driving force behind recent convenience store [...]
SEOUL, Dec. 5 (Korea Bizwire) — South Korea fell to second place in new global shipbuilding orders in November to trail behind China again, industry data showed Tuesday. South Korean shipyards clinched orders totaling 570,000 compensated gross tons (CGTs) for 15 ships, accounting for 36 percent of the global total of 1.59 million CGTs last [...]
SEOUL, Dec. 5 (Korea Bizwire) — Lotte Chilsung Beverage Co., a unit of South Korea’s retail giant Lotte Group, said Tuesday it has signed an initial pact with a U.S. wine company for exports of its distilled liquor “soju” products to the U.S. market. Lotte Chilsung signed a memorandum of understanding (MOU) with California-based E [...]
SEOUL, Dec. 2 (Korea Bizwire) —As the year-end festivities approach, leading hotels in Seoul are captivating customers with a series of Christmas products, with particular attention drawn to a 300,000 won hotel cake. According to industry insiders, The Shilla Seoul is offering a limited-edition cake called “The Taste of Luxury,” priced at 300,000 won. This [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Friday it has clinched a US$432.4 million order to build four very large ammonia carriers for a European shipper. Hyundai Samho Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct the vessels at its [...]