BUSAN, Jan. 27 (Korea Bizwire) — Two more five-star hotels are to open in Busan’s Haeundae district this year, further escalating competition in the district’s already crowded hotel market. According to municipal and industry officials on Monday, Lotte Hotels & Resorts, a unit of Lotte Group, will introduce its luxury brand Signiel to Haeundae this [...]
SEJONG, Jan. 22 (Korea Bizwire) — Sales of cigarettes in South Korea fell 0.7 percent in 2019 from a year earlier due to the government-led anti-smoking campaign and higher prices, data showed Wednesday. Smokers purchased 3.45 billion 20-cigarette packs last year, compared with the previous year’s 3.47 billion packs, according to data compiled by the [...]
SEOUL, Jan. 21 (Korea Bizwire) — Major South Korean biosimilar manufacturer Celltrion Inc. said Tuesday it will spend 600 billion won (US$520 million) on its new plant in China over the next five years. The planned plant, with a production capacity of 120,000 liters of biopharmaceutical products, will be located in the central city of [...]
SEOUL, Jan. 20 (Korea Bizwire) – The heiress of South Korean airline-focused conglomerate Hanjin Group, widely known for the “nut rage” incident in 2014, has come under the spotlight again in what appears to be a fresh twist to a family feud brewing over the group’s throne. The family feud first came to light in [...]
SEOUL, Jan. 16 (Korea Bizwire) — Major South Korean biosimilar manufacturer Celltrion Inc. plans to build a plant in China in a move to directly advance into the world’s second-largest biopharmaceutical market, its chief said. “We are in the final stage of signing a contract with the Chinese government. We will soon announce details of [...]
SEOUL, Jan. 15 (Korea Bizwire) — Platform workers, the lifeblood of the country’s emerging gig platforms that offer delivery, ride-hailing and housekeeping services, are often exposed to dire working conditions such as low pay and long working hours, a study showed Wednesday. In contrast to the notion the lifestyle would give workers the freedom to [...]
SEJONG, Jan. 15 (Korea Bizwire) — South Korea’s antitrust regulator said Wednesday it has ordered Netflix Inc., a global internet entertainment service provider, to amend “unfair” terms and conditions in its subscription contracts. The Fair Trade Commission (FTC) said Netflix is required to notify subscribers of its plan to change fees and obtain consent from [...]
SEOUL, Jan. 10 (Korea Bizwire) — Tada, a South Korean ride-hailing service operator, will launch a ride hailing service for foreign tourists. Tada said Thursday it has carried out an app update to make it easier and more comfortable for more users to use its service. In the latest version of the app, users can [...]
SEOUL, Jan. 9 (Korea Bizwire) — The annual number of passengers using Incheon International Airport, the gateway to Seoul, topped 70 million for the first time last year, its operator said Thursday. According to Incheon International Airport Corp. (IIAC), a record 71.17 million passengers used Incheon International Airport in 2019, marking an increase of 4.3 [...]
SEOUL, Jan. 9 (Korea Bizwire) — A US$4 billion deal by Germany’s Delivery Hero to acquire South Korea’s largest food delivery app operator, Woowa Brothers, has stirred up controversy here, as some politicians and small merchants have raised concerns about the monopoly status the merged entity will have if the deal is approved. For years, [...]