SEOUL, Nov. 29 (Korea Bizwire) – Major South Korean pay TV operators are implementing voluntary retirement programs amid deteriorating business conditions, drawing criticism for shifting the burden of financial challenges onto workers. Following LG HelloVision, the country’s largest cable TV operator by subscribers, both Skylife and HCN have announced voluntary retirement plans. Skylife revealed its program during [...]
SEOUL, Nov. 29 (Korea Bizwire) — The shipyard industry of the United States is willing to work with its South Korean counterpart to improve efficiencies, a U.S. shipbuilders’ trade group has said, as U.S. President-elect Donald Trump seeks closer bilateral ties in the sector. In his phone conversation with South Korean President Yoon Suk Yeol [...]
SEOUL, Nov. 29 (Korea Bizwire) — Hanhwa Ocean Co. said Friday it has signed a strategic cooperation agreement with Britain’s Babcock International Group for joint global naval export projects. Under the agreement signed Thursday, Hanwha Ocean and Babcock will cooperate on joint submarine exports to Canada and Poland. They also agreed to provide customized solutions [...]
SEOUL, Nov. 29 (Korea Bizwire) – Lotte Group announced a sweeping set of initiatives on November 28 to address liquidity concerns and improve financial stability. The measures include revaluing land assets, divesting underperforming properties, and scaling back investments. As part of its strategy, Lotte is also considering exiting poorly performing overseas duty-free locations. During an [...]
SEOUL, Nov. 28 (Korea Bizwire) –Starbucks Korea announced on Wednesday that it will officially launch its new subscription service, Buddy Pass, on December 2 to mark its 25th anniversary. This move comes as the coffee chain faces growing challenges to maintain its once-dominant appeal in South Korea, despite expanding its retail channels, including a scenic [...]
SEOUL, Nov. 28 (Korea Bizwire) – A new report suggests the ASEAN semiconductor industry, traditionally strong in chip packaging, is poised for continued growth as global firms seek to diversify supply chains beyond China amid ongoing U.S.-China competition in the semiconductor sector. The International Trade Research Institute at the Korea International Trade Association reported on November [...]
SEOUL, Nov. 28 (Korea Bizwire) – Seoul’s urban skyline is set for a dramatic transformation as the city approved plans for ultra-high-rise apartment complexes reaching up to 250 meters in two prime locations: the affluent Apgujeong-dong neighborhood in Gangnam district and the emerging luxury district of Seongsu-dong. The Seoul Metropolitan Government announced on November 26 that [...]
SEOUL, Nov. 28 (Korea Bizwire) – South Korean food giant CJ Cheiljedang Corp. said Thursday it has begun selling an instant fried rice product for the first time in the United States. Korean barbecue-flavored fried rice under CJ Cheiljedang’s bibigo brand is now available at major grocery shops, including Walmart and Publix, and will be [...]
SEOUL, Nov. 27 (Korea Bizwire) — Daewoo Engineering & Construction (E&C) Co. said Wednesday it has broken ground for a high-rise building project in Hanoi, part of a major urban development initiative in the Vietnamese capital. Daewoo E&C said it held a groundbreaking ceremony for the construction project, named K8HH1, part of Hanoi’s Starlake new [...]
SEOUL, Nov. 27 (Korea Bizwire) – A new survey has revealed that more than three-quarters of South Korean mid-sized companies anticipate increased economic uncertainty when Donald Trump returns to the White House, highlighting growing concerns about potential shifts in U.S. trade and economic policies. The Federation of Middle Market Enterprises of Korea (FOMEK) released the findings [...]