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 [...]
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 [...]
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 [...]
SEOUL, March 30 (Korea Bizwire) – Over 30 South Korean TV networks and production companies will attend this year’s MIPTV, the world’s largest TV and online content trade show, next month in France, a state-run content agency said Thursday. A total of 19 networks and production firms — including KBS, MBC, SBS and CJ E&M [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Mar. 27 (Korea Bizwire) — As the South Korean market for renting services and the number of online marketplaces continue to grow, big shifts in consumer culture are taking place, with consumers now averse to paying the full price for new products, and instead preferring to rent or opt for used goods. A monthly [...]
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, [...]