SEOUL, Feb. 17 (Korea Bizwire) — SK Telecom Co., South Korea’s leading mobile carrier, announced Tuesday that it will join hands with the local unit of British banking giant Standard Chartered Bank to set up the first MyData Cloud system in the banking sector. MyData collects private credit information dispersed throughout various financial firms to [...]
SEOUL, Feb. 17 (Korea Bizwire) — Among a variety of health supplements, vitamin supplements were named the top-selling item in South Korea. The state-run Korea Agro‑Fisheries & Food Trade Corp. (aT) conducted an online survey of 800 local consumers, 76 percent of whom (multiple answers possible) said that they had bought vitamin supplements in the [...]
SEOUL, Feb. 16 (Korea Bizwire) — Asiana Airlines Inc., South Korea’s second-biggest airline by sales, said Tuesday its net losses narrowed in 2020 from a year earlier on cost cuts and other self-help measures. Net losses narrowed to 404.51 billion won (US$367 million) last year from 817.89 billion won the previous year as the company [...]
SEOUL, Feb. 16 (Korea Bizwire) — Financially troubled carmaker SsangYong Motor Co. said Tuesday it will extend the suspension of its local plant this week due to a lack of parts from contractors. SsangYong Motor already halted its plant in Pyeongtaek, 70 kilometers south of Seoul, on Dec. 24, Dec. 28, Feb. 3-5 and Feb. [...]
DAEJEON, Feb. 16 (Korea Bizwire) — A South Korean appellate court has dismissed Japanese company Mitsubishi Heavy Industries’ appeal against a lower court’s order to seize its assets held here to compensate victims of Japan’s wartime forced labor, judicial officials said Tuesday. The Daejeon District Court’s appellate division in the central South Korean city made [...]
SEOUL, Feb. 16 (Korea Bizwire) — Hyundai Motor Group and POSCO will explore overseas hydrogen-related business opportunities as they diversify portfolios to secure a new growth driver, the carmaker said Tuesday. Hyundai Motor and POSCO have formed business ties to explore a partnership in overseas hydrogen production and related technology development projects and seek chances [...]
SEOUL, Feb. 16 (Korea Bizwire) — Artificial intelligence (AI) and machine learning technology are altering the landscape of the banking industry. This year, Shinhan Bank has set out on building infrastructure for ‘digital innovation banks’ where customer services will be replaced with AI technology. These offices will replace staff with AI bankers, who will be [...]
SEOUL, Feb. 16 (Korea Bizwire) — Samsung Electronics Co. was the second-largest smartphone vendor in India last year, a report showed Tuesday, as its offline sales declined amid the pandemic. The South Korean tech giant shipped 29.7 million smartphones in India in 2020, down 4 percent from a year earlier, for a 20 percent market [...]
SEOUL, Feb. 16 (Korea Bizwire) — The fever of environmental, social and governance (ESG) management that is sweeping across the industrial landscape is emerging as a central issue even for the airline and shipbuilding industries. As part of efforts to reduce its carbon emissions, South Korea’s top full service carrier Korean Air Lines Co. decided [...]
SEOUL, Feb. 15 (Korea Bizwire) – The environment ministry said Monday it has revised a set of laws to limit the use of plastic and other disposable items as the country grapples with soaring waste amid the coronavirus pandemic. The revisions, which will be subject to a public review from Tuesday until March 29, include [...]