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CJ E&M to Open ‘Hallyu’ Channels in Malaysia, Vietnam, Hong Kong

CJ E&M to Open ‘Hallyu’ Channels in Malaysia, Vietnam, Hong Kong

SEOUL, April 3 (Korea Bizwire) – CJ E&M, South Korea’s leading entertainment and media content company, said Monday it will open new channels exclusively for airing “hallyu” content in Malaysia, Vietnam and Hong Kong.  The company said it will launch a Korean movie channel “tvN Movies” in Malaysia and “TV Blue,” a channel for providing [...]

“F— It Expense” and Small Luxuries Emerge as New Consumption Trends amid Economic Downturn

“F— It Expense” and Small Luxuries Emerge as New Consumption Trends amid Economic Downturn

SEOUL, March 31 (Korea Bizwire) — There’s a new coinage emerging amongst South Korean consumers that literally translates into “f— it expense.”  The origin of sibal (the four-letter word) biyong (expense or cost) goes back to November 28 of last year, when a local Twitter user (satuki_yami) defined the term as an expense that could [...]

Middle-Aged, Elderly People Prefer Handsets from Budget Mobile Carriers: Data

Middle-Aged, Elderly People Prefer Handsets from Budget Mobile Carriers: Data

SEOUL, March 31 (Korea Bizwire) – Those aged over 40 are the primary clients for handsets provided by low-cost mobile carriers, industry data showed Friday.  The budget mobile carriers called “thrift phone operators” refer to mobile virtual network operators (MVNOs) that rent networks from the country’s three carriers: SK Telecom Co., KT Corp. and LG [...]

How CJ Became Ousted President’s Least Favorite Conglomerate With its Liberal Content

How CJ Became Ousted President’s Least Favorite Conglomerate With its Liberal Content

SEOUL, March 29 (Korea Bizwire) – The Park Geun-hye administration’s rule, which collapsed with its leader’s impeachment, was not the best of times for CJ, a major food and media conglomerate in South Korea. A year and half after President Park took office in 2013, CJ Vice Chairwoman Lee Mi-kyung (who was the de facto [...]

Corporate Watchdog Slaps 1.8 bln-won Fine on Lotte, Shilla Duty-free Shops

Corporate Watchdog Slaps 1.8 bln-won Fine on Lotte, Shilla Duty-free Shops

SEJONG, March 29 (Korea Bizwire) – South Korea’s corporate watchdog said Wednesday that it has imposed a combined 1.8 billion-won (US$1.6 million) fine on two duty-free shop operators — Lotte and Shilla — for colluding on discount events. Hotel Lotte Co., the operator of the country’s biggest Lotte Duty Free, and Hotel Shilla Co., the [...]

Korean Petrochemicals Firms Accelerating Overseas Push

Korean Petrochemicals Firms Accelerating Overseas Push

SEOUL, March 29 (Korea Bizwire) – South Korean petrochemicals firms, led by LG Chem Ltd., are seeking to diversify their export destinations and establish more overseas production facilities, in a bid to reduce their dependence on China, industry sources said Wednesday.  According to the sources, LG Chem, the country’s No. 1 player in the chemicals [...]

Loopholes in Security of IoT Devices

Loopholes in Security of IoT Devices

SEOUL, March 28 (Korea Bizwire) – Reports of security breach threats to Internet of Things (IoT) devices have tripled over the last year, according the Korea Internet & Security Agency. The KISA said yesterday that a total of 362 complaints were filed regarding security concerns, jumping 280 percent from last year’s 130. Reports of security vulnerability [...]

S. Korea to Set up 113.5 Bln-Won Fund to Help Bio Startups

S. Korea to Set up 113.5 Bln-Won Fund to Help Bio Startups

SEOUL, March 27 (Korea Bizwire) – South Korea will establish a 113.5 billion-won (US$101.8 million) fund to nurture startups and venture firms in the bio sector to secure new growth engines, the science ministry said Monday. Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, [...]