SEOUL, Nov. 29 (Korea Bizwire) — One in three South Korean consumers has experienced issues while shopping online, a government survey showed Friday, underscoring the need for improved consumer protection from e-commerce operators. The survey, conducted on 2,000 local consumers, showed that 29.4 percent of the people shopping on local e-commerce platforms and 28.3 percent [...]
SEOUL, Nov. 29 (Korea Bizwire) – Despite the government’s initiatives to boost corporate value, the return on equity (ROE) of South Korea’s top companies has plummeted over the past three years, with average ROE nearly halving. ROE, a critical metric for evaluating value enhancement, measures net income relative to shareholder equity, reflecting how effectively a [...]
SEOUL, Nov. 29 (Korea Bizwire) – Major South Korean pay TV operators are implementing voluntary retirement programs amid deteriorating business conditions, drawing criticism for shifting the burden of financial challenges onto workers. Following LG HelloVision, the country’s largest cable TV operator by subscribers, both Skylife and HCN have announced voluntary retirement plans. Skylife revealed its program during [...]
SEOUL, Nov. 29 (Korea Bizwire) — The shipyard industry of the United States is willing to work with its South Korean counterpart to improve efficiencies, a U.S. shipbuilders’ trade group has said, as U.S. President-elect Donald Trump seeks closer bilateral ties in the sector. In his phone conversation with South Korean President Yoon Suk Yeol [...]
SEOUL, Nov. 29 (Korea Bizwire) — Hanhwa Ocean Co. said Friday it has signed a strategic cooperation agreement with Britain’s Babcock International Group for joint global naval export projects. Under the agreement signed Thursday, Hanwha Ocean and Babcock will cooperate on joint submarine exports to Canada and Poland. They also agreed to provide customized solutions [...]
SEOUL, Nov. 29 (Korea Bizwire) – Lotte Group announced a sweeping set of initiatives on November 28 to address liquidity concerns and improve financial stability. The measures include revaluing land assets, divesting underperforming properties, and scaling back investments. As part of its strategy, Lotte is also considering exiting poorly performing overseas duty-free locations. During an [...]
SEOUL, Nov. 29 (Korea Bizwire) – For years, private equity funds (PEFs) were synonymous in South Korea with “predatory capital” and “corporate raiders,” drawing criticism for prioritizing short-term profits over corporate health. The perception stemmed from practices such as aggressive cost-cutting, asset sales, and layoffs, which were viewed as tactics to maximize returns at the [...]
SEOUL, Nov. 28 (Korea Bizwire) – With the European Union Commission granting final approval for the merger between South Korea’s two largest airlines, the nation’s aviation industry stands on the brink of a seismic shift that will create the country’s first “mega carrier.” The merger of Korean Air and Asiana Airlines promises better competitiveness through economies [...]
SEOUL, Nov. 28 (Korea Bizwire) – Rolls-Royce Motor Cars has unveiled its bespoke design studio, “Private Office Seoul,” located in the prestigious Lotte World Tower in Seoul, the company announced Thursday. The space offers a heightened level of customization, surpassing the tailored services traditionally available at Rolls-Royce showrooms in Cheongdam and Busan. The office is [...]
SEOUL, Nov. 28 (Korea Bizwire) –Starbucks Korea announced on Wednesday that it will officially launch its new subscription service, Buddy Pass, on December 2 to mark its 25th anniversary. This move comes as the coffee chain faces growing challenges to maintain its once-dominant appeal in South Korea, despite expanding its retail channels, including a scenic [...]