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Archive by category Services and Others

Logistics Industry on Alert as Naver Teams Up with CJ Logistics

Logistics Industry on Alert as Naver Teams Up with CJ Logistics

SEOUL, Oct. 28 (Korea Bizwire) — The South Korean retail industry is eyeing country’s top online portal operator Naver and entertainment and logistics giant CJ Group as the two companies are exchanging company shares worth 600 billion won ($531 million) as part of a strategic partnership in the fields of cultural content and distribution. Industry [...]

Controversy Heats Up over Shared Accommodation Services

Controversy Heats Up over Shared Accommodation Services

SEOUL, Oct. 27 (Korea Bizwire) — The government is engaged in the final stages of discussion with related industries for approval of shared accommodation services for residents of urban areas. The talks, however, are stuck in a last-minute limbo as disputes have flared up over the government’s new regulations, which stipulate that such business may [...]

Hanjin to Suspend Overnight Parcel Services amid Overwork Controversy

Hanjin to Suspend Overnight Parcel Services amid Overwork Controversy

SEOUL, Oct. 26 (Korea Bizwire) — Hanjin Transportation Co., the logistics arm of Hanjin Group, said Monday it will suspend overnight parcel delivery services starting next month, becoming the first local company to take such action to help prevent overwork among deliverymen. The move came as one of its delivery workers died earlier this month [...]

Transactions of Secondhand Items Soar amid Dampened Consumer Sentiment

Transactions of Secondhand Items Soar amid Dampened Consumer Sentiment

SEOUL, Oct. 19 (Korea Bizwire) — Amid sluggish consumer spending resulting from the outbreak of the COVID-19 pandemic, transactions of secondhand items are growing at a rapid pace. Consumers with thinner wallets are increasingly looking for cheap used items rather than buying new ones, while liquidating the items that they don’t use for cash. According [...]

Car-sharing Businesses Suffer from Careless Customers

Car-sharing Businesses Suffer from Careless Customers

SEOUL, Oct. 17 (Korea Bizwire) — Car-sharing businesses are suffering from massive financial losses due to careless users. Car-sharing vehicles owned by SOCAR Inc., a car-sharing service provider, last no more than three years on average, a mere 20 percent of the average lifespan of automobiles in South Korea. Smaller car-sharing platforms have a vehicle [...]

Mobility Startup SOCAR Becomes Unicorn After Fresh Investment

Mobility Startup SOCAR Becomes Unicorn After Fresh Investment

SEOUL, Oct. 16 (Korea Bizwire) — South Korea’s largest mobility startup SOCAR Inc. said Friday it has received 60 billion won (US$52.2 million) from two local private equity firms, becoming the latest “unicorn” company in the Asian country. The investments from SG Private Equity and Songhyun Investment pushed SOCAR’s valuation to over 1 trillion won. [...]