SEOUL, Feb. 21 (Korea Bizwire) — Samsung Electronics Co., the world’s largest memory chipmaker, said Wednesday it will expand its partnership with the British chip design firm Arm to bolster the competitiveness of its foundry business. As part of the collaboration, the South Korean chipmaker’s foundry division will work with Arm to optimize the design [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korean shipbuilding giant HD Hyundai Heavy Industries Co. said Wednesday it will cooperate with British defense titan Babcock to jointly develop a submarine for exports. To that end, officials of both companies recently held a meeting at HD Hyundai Heavy’s research and development center in Seongnam, south of [...]
SEOUL, Feb. 20 (Korea Bizwire) – Samsung and LG are poised to introduce their all-in-one washer-dryer units to the South Korean market, sparking interest among consumers looking for innovative solutions in the home appliance sector. This new product category, which eliminates the need to transfer laundry from a washing machine to a dryer, is expected to [...]
SEOUL, Feb. 20 (Korea Bizwire) – The aftermath of the so-called “Table Tennis Gate” incident, involving a physical altercation between players of the Korean national football team ahead of the Asian Cup semi-finals, is now affecting the retail sector. The controversy centers around Son Heung-min and Lee Kang-in, whose affiliations with different brands have led to [...]
SEOUL, Feb. 20 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Tuesday it has bagged a 322.8 billion-won (US$242 million) order to build two very large ammonia carriers for a shipper based in Africa. HD Hyundai Heavy Industries Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct [...]
SEOUL, Feb. 20 (Korea Bizwire) – Shinsegae Department Store’s newly opened dessert specialty zone, “Sweet Park,” at its Gangnam branch, has become a sensation, attracting 100,000 visitors during its first weekend alone. Since its launch on February 15, dessert sales at the Gangnam branch surged by 204% compared to the same period last year, from February [...]
SEOUL, Feb. 19 (Korea Bizwire) – The utilization of Artificial Intelligence (AI) in the retail industry is advancing beyond basic search functionalities, personalized recommendations, and chatbot consultations, towards unmanned and hyper-personalized services. According to recent industry reports, a competitive race in AI development and application is unfolding across various sectors, including e-commerce, department stores, supermarkets, convenience [...]
SEOUL, Feb. 19 (Korea Bizwire) – The aggressive entry of Chinese e-commerce companies into the South Korean market, leveraging ultra-low prices, has raised concerns over their compliance with local laws. Criticisms are mounting as these firms are accused of frequently making use of advertisements that violate regulations through mobile applications and other digital channels, and showing [...]
SEOUL, Feb. 19 (Korea Bizwire) — A fried chicken franchise, bhc chicken, has been under fire for raising prices of its menu items, while changing part of its chicken ingredients to cheaper ones from Brazil, according to a consumer advocacy group Monday. The franchise had used chicken produced in South Korea but decided to change [...]
SEOUL, Feb. 16 (Korea Bizwire) – The rapid penetration of Chinese e-commerce platforms like AliExpress and Temu, known for their ultra-low-priced products, into the South Korean market has prompted the government to take action. Concerns are growing that the domestic market for everyday consumer goods, including household items and clothing, could become dominated by “Made in [...]