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Samsung Shares Continue Slide as Foreign Investors Lead Selloff

Samsung Shares Continue Slide as Foreign Investors Lead Selloff

SEOUL, Nov. 14 (Korea Bizwire) – Samsung Group shares, long considered a cornerstone of South Korean investing, continued their downward trajectory as foreign and institutional investors led a significant selloff, while retail investors moved to buy the dip. Market analysts suggest that despite current undervaluation, a quick recovery appears unlikely.  On November 13, Samsung Electronics closed [...]

Gov’t Unveils Measures to Address Consumer Complaints in Wedding Industry

Gov’t Unveils Measures to Address Consumer Complaints in Wedding Industry

SEOUL, Nov. 14 (Korea Bizwire) — The government unveiled a package of measures aimed at addressing long-standing consumer complaints in the wedding industry Thursday, which has often been cited as a significant factor driving up the high costs of marriage. The measures were introduced at an economic ministers’ meeting in Seoul, led by Finance Minister [...]

S. Korea Unveils Measures to Boost Productivity of Service Industry

S. Korea Unveils Measures to Boost Productivity of Service Industry

SEOUL, Nov. 14 (Korea Bizwire) — The government on Thursday unveiled a package of measures, such as preferential interest rates and incentives, aimed at developing the domestic service industry as a new engine of growth. The measures were introduced during an economy-related ministers’ meeting held in Seoul, presided over by Finance Minister Choi Sang-mok, who [...]

LG Energy Solution’s U.S. Unit Wins ESS Supply Deal from U.S. Firm

LG Energy Solution’s U.S. Unit Wins ESS Supply Deal from U.S. Firm

SEOUL, Nov. 14 (Korea Bizwire) — LG Energy Solution Ltd. (LGES), South Korea’s leading battery maker, said Thursday its U.S. unit has signed a long-term deal to supply energy storage systems (ESS) for a local renewables developer. LG Energy Solution Vertech, Inc. will supply 8-gigawatt-hour (GWh) ESS systems to U.S. renewable energy firm Terra-Gen Power [...]

Celebrity Chef Paik Says Will ‘Drastically’ Increase Korean Restaurants in Overseas Markets

Celebrity Chef Paik Says Will ‘Drastically’ Increase Korean Restaurants in Overseas Markets

SEOUL, Nov. 13 (Korea Bizwire) — Bornga and Saemaeul Restaurant are some of the more popular Korean restaurant brands frequently visited by South Korean tourists and local residents alike in many countries around the globe for a taste of popular Korean dishes seen on Korean TV shows. And Paik Jong-won, a more popular TV personality [...]

Korean Retail Investors Strike Gold with Tesla as Trump’s Victory Sparks Rally

Korean Retail Investors Strike Gold with Tesla as Trump’s Victory Sparks Rally

SEOUL, Nov. 13 (Korea Bizwire) – Lee, a 32-year-old office worker from Incheon, has been waking up in the middle of the night to check his investment portfolio, often exclaiming “Thank you, Musk” before falling back asleep. His enthusiasm stems from a remarkable turnaround in his 10-million-won investment in Tesla, which had previously plunged 30% amid [...]

Chinese EV Giant BYD Officially Announces Entry into S. Korean Passenger Car Market

Chinese EV Giant BYD Officially Announces Entry into S. Korean Passenger Car Market

SEOUL, Nov. 13 (Korea Bizwire) — Chinese electric vehicle (EV) giant BYD Co. on Wednesday officially announced its plan to enter South Korea’s passenger car market. BYD Korea, the company’s South Korean sales subsidiary, said in a press release that it has “completed review to release passenger car brands in the domestic market” and officially [...]