SEOUL, March 14 (Korea Bizwire) — With Apple Pay’s imminent launch in the South Korean market, Samsung Electronics Co. is pushing to join hands with Kakao following its earlier partnership with Naver Corp. According to industry sources, the tech giant is now in talks with Kakao Corp. to mutually integrate mobile payment services between Samsung [...]
SEOUL, March 14 (Korea Bizwire) — South Korean construction firms are turning towards new ventures in the environment and energy sectors amid worsening profitability in the housing market. SK Ecoplant Co., which underwent a corporate name change from SK Engineering & Construction Co. in 2021, is pursuing new ventures such as waste battery recycling, bio [...]
SEOUL, March 13 (Korea Bizwire) — Hyundai Motor Co., South Korea’s leading carmaker, said Monday it is in the process of acquiring General Motors Co.’s car manufacturing facility in India. Hyundai Motor has signed a term sheet with GM to take over the U.S. carmaker’s Talegaon plant in Maharashtra, the company said in a statement. [...]
SEOUL, March 13 (Korea Bizwire) — In the late 1980s, Japan was a semiconductor powerhouse, accounting for more than 50 percent of sales by country and region. However, Japan’s semiconductor industry has declined, and the market is now dominated by Taiwan and South Korea, with the U.S. perceiving China’s growth as a threat. The U.S. [...]
SEOUL, March 13 (Korea Bizwire) — The Netflix documentary series “In the Name of God: A Holy Betrayal” has sparked concern on university campuses across the country. A sense of apprehension was heightened after it was revealed that the religious fringe sect Christian Gospel Mission, better known as JMS (Jesus Morning Star) featured in the [...]
SEOUL, March 12 (Korea Bizwire) —Samsung Electronics is taking steps to incorporate environmental, social, and governance (ESG) practices into its upcoming 54th regular shareholders’ meeting. The meeting, scheduled for March 15, will feature efforts to reduce paper usage by replacing mail related to the meeting with electronic announcements. The initiative is expected to save approximately [...]
SEOUL, March 12 (Korea Bizwire) — Samsung Electronics, the world’s largest TV maker, has made a surprising comeback in the OLED TV market after withdrawing 10 years ago due to yield problems. The company recently introduced a new product that will compete directly with its biggest rival, LG Electronics, which has been leading the OLED market. [...]
SEOUL, March 10 (Korea Bizwire) — Boosted by the popularity of U.S. electric carmaker Tesla Inc., automakers are increasingly adopting online car selling platforms to revive sales in South Korea amid the prolonged COVID-19 pandemic. In 2017, Tesla began to sell its vehicles through an online platform in South Korea, raising questions over the effectiveness [...]
SEOUL, March 9 (Korea Bizwire) — AliExpress Korea plans to invest about 100 billion won (US$75.7 million) in South Korea this year, the top executive said Thursday, as the online retailer backed by China’s Alibaba Group is pushing to strengthen its presence in the growing cross-border shopping market. The investment is meant “to offer more [...]
SEOUL, March 9 (Korea Bizwire) — LG Electronics Inc. said Thursday it is scaling up its research and development operations in Vietnam to respond to a rapidly growing electric vehicle (EV) parts business. The South Korean tech company held a ceremony Wednesday to celebrate the opening of a new entity in Hanoi, in a bid [...]