SEOUL, June 5 (Korea Bizwire) — LG Display Co., a global leader in display panel manufacturing, said Thursday it will invest 700 billion won (US$515 million) in its domestic organic light-emitting diode (OLED) production facilities. In September, LG Display sold its entire 80 percent stake in its large-size display panel and module plant in China’s [...]
SEOUL, June 5 (Korea Bizwire) — In celebration of World Environment Day on June 5, Hyundai Department Store has launched a nationwide environmental campaign, “Mission Possible! Mudflat Guardians,” aimed at raising awareness of Korea’s fragile coastal ecosystems. Running through July 20, the campaign spans both online and offline channels and includes a specially designed [...]
SEOUL, June 3 (Korea Bizwire) — Luxury fashion house Chanel has raised prices on several of its best-selling handbags and jewelry items in South Korea by up to 10%, marking its third price hike this year and further straining consumers, especially brides-to-be preparing for weddings. Chanel Korea implemented the increases on Monday, raising prices on signature [...]
SEOUL, May 30 (Korea Bizwire) — South Korea’s economy showed renewed signs of weakness in April, with industrial production, consumption, and investment all posting declines — the first “triple minus” since January — as the impact of new U.S. auto tariffs begins to ripple through key sectors. According to data released Friday by Statistics Korea, [...]
MANILA, Philippines, May 27 (Korea Bizwire) — A combination of the Korean Wave and expanded local sales networks has driven sales growth at Hitejnro Philippines Inc. in recent years, the company said at a recent media event. Hitejinro Co., South Korea’s leading beverage company, established its Philippine subsidiary in July 2019 to strengthen its presence [...]
SEOUL, May 27 (Korea Bizwire) — Starbucks is breaking from its long-standing emphasis on face-to-face interaction by introducing self-ordering kiosks in South Korea and Japan — the first such move by the global coffee chain in either country. Starbucks Korea announced on Monday that it will begin rolling out kiosks this week at a limited number [...]
SEOUL, May 26 (Korea Bizwire) — For the first time since statistics began in 2018, South Korea’s once-booming coffee shop sector has shrunk, alongside a broader pullback across key self-employment industries. The decline underscores mounting pressure on small business owners from domestic economic stagnation, market saturation, and rising operating costs. According to data released Sunday by [...]
SEOUL, May 14 (Korea Bizwire) — French luxury brand Dior has come under scrutiny in South Korea for failing to report a recent data breach involving Korean customers to the Korea Internet & Security Agency (KISA), as required under domestic law, a lawmaker’s office said Wednesday. According to Rep. Choi Soo-jin of the ruling People Power [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s department store sector suffered a difficult first quarter as sluggish domestic consumption weighed heavily on sales and profits, with only Lotte Department Store managing to post a notable profit boost, thanks to strong performance in overseas operations and internal restructuring efforts. According to industry data released Tuesday, Lotte [...]
SEOUL, May 12 (Korea Bizwire) — Swedish furniture giant IKEA held a briefing session in Seoul on Monday to expand its network of eco-friendly and recycled product suppliers from South Korea, according to the country’s state-run trade promotion agency. IKEA’s Northeast Asia purchasing office hosted the 2025 IKEA Day event at the headquarters of the [...]