SEOUL, Aug. 14 (Korea Bizwire) — Recently, there has been a campaign on SNS to “not order parcels” so that delivery workers can get a proper rest. The move came after the Korean Confederation of Trade Unions (KCTU) proposed a campaign for the public to join forces to guarantee that workers would be able to [...]
ULSAN, Aug. 14 (Korea Bizwire) — The city of Ulsan plans to build South Korea’s first pipeline system to supply hydrogen. The city signed an agreement with six agencies and businesses including the Korea Gas Safety Corp. (KGS) on Tuesday to build pipelines between hydrogen filling stations and hydrogen supplier Deokyang Co., and establish a [...]
SEOUL, Aug. 14 (Korea Bizwire) — South Korea’s electric vehicle (EV) battery makers are expected to face fierce competition in Europe in the upcoming years as European companies are ramping up efforts to expand their clout in the fast-growing sector, a trade organization here said Wednesday. LG Chem Ltd., Samsung SDI Co., and SK Innovation [...]
SEOUL, Aug. 14 (Korea Bizwire) — E-Mart Inc. has decided to buy back shares worth some 100 billion won (US$82 million) and securitize its assets through sale and leaseback arrangements. “At the current stage, we have to save up our capability, and use that capability when there is an opportunity,” said Shinsegae Group Vice Chairman [...]
SEOUL, Aug. 14 (Korea Bizwire) — The number of air passengers on routes between South Korea and Japan dipped during the peak summer vacation season amid an escalating bilateral trade spat, government data showed Wednesday. The passenger load factor for flights to and from Japan averaged 71.5 percent during the first week of August, down [...]
SEOUL, Aug. 13 (Korea Bizwire) — Starbucks Korea reported a 28 percent on-year jump in its operating profit in the first half of the year amid rising appetite for premium coffee, discount store chain E-Mart said Tuesday. From January to June, the U.S. coffee giant posted an operating profit of 74.7 billion won (US$61 million) [...]
SEOUL, Aug. 13 (Korea Bizwire) — South Korea’s top steelmaker POSCO said Tuesday its cryogenic high manganese steel (HMS) has earned government approval as a material reliable for manufacturing land-based liquefied natural gas (LNG) storage tanks. POSCO completed the development of world’s first cryogenic HMS in 2013 after six years of research. The company said [...]
SEOUL, Aug. 13 (Korea Bizwire) – British American Tobacco (BAT) Korea on Tuesday launched a new hybrid e-cigarette product to capture a share of the growing “potentially less risk” toxic tobacco market and expand its presence in the country. BAT Korea chose South Korea as the first market to promote its glo sens product, a combination [...]
SEOUL, Aug. 13 (Korea Bizwire) — E-Mart Inc. said Tuesday that it plans to raise 1 trillion won (US$820 million) by selling assets as the country’s top retailer is struggling with falling profitability amid increased competition with e-commerce giants here. The company said it plans to securitize its outlets worth 1 trillion won by the [...]
SEOUL, Aug. 13 (Korea Bizwire) — U.S. carmaker Tesla Motors Inc. on Tuesday launched the Model 3 in South Korea as it strives to absorb a growing appetite for all-electric vehicles (EVs) here. The Model 3 sells at the starting price of 52 million won (US$43,000) without the central government’s subsidy worth 9 million won. [...]