SEOUL, Aug. 16 (Korea Bizwire) — The combined net profit of South Korea’s major credit card firms plunged nearly a third in the first half from a year earlier due mainly to decreased swipe fees, industry data showed Thursday. Eight card issuers, including Shinhan Card Co., Samsung Card Co. and KB Kookmin Card Co., posted [...]
SEOUL, Aug. 3 (Korea Bizwire) — LG Electronics Inc. profited more for every home appliance sold in the first half of 2018 compared with its bigger rival Samsung Electronics Co., industry data showed Friday. Samsung Electronics posted sales of 20.1 trillion won (US$17.8 billion) over the January-June period for the home appliances segment, above LG [...]
SEOUL, Jul. 23 (Korea Bizwire) — Kakao Bank, South Korea’s second Internet-only bank, has posted rapid growth in its customer base and assets since its launch a year ago to overtake the country’s smallest regional lender, data showed Monday. Kakao Bank, controlled by Kakao Corp., the operator of South Korea’s dominant messaging app KakaoTalk, started [...]
SEOUL, Jul. 12 (Korea Bizwire) — Non-German foreign carmakers, such as Toyota Motor Corp. and Jaguar Land Rover, did well in South Korea in the past fiscal year, posting sales of over 1 trillion won (US$887 million) each, the companies said Thursday. In the 2017 fiscal year, which ended in March, Toyota Motor reported sales [...]
SEOUL, Jun. 19 (Korea Bizwire) — Local convenience stores saw their sales jump as tens of thousands of South Koreans took to the streets to cheer on their national football team in the first game of its World Cup campaign, retailers here said Tuesday. BGF Retail Co., the operator of the country’s largest convenience store [...]
SEOUL, Jun. 6 (Korea Bizwire) – The share of electric vehicles (EV) in the sales of eco-friendly vehicles in South Korea has surpassed 20 percent for the first time this year on the back of a wide range of lineups and improved charging infrastructure, industry data showed Wednesday. A total of 5,542 EVs were sold [...]
SEOUL, May 2 (Korea Bizwire) — The domestic market for frozen food grew from 20 billion won in 2014 to 70 billion won in 2017. CJ CheilJedang, the largest player in the frozen food industry, announced that sales of its “Bibigo” frozen food products topped 33 billion won last year, a twofold increase from 2016. [...]
SEOUL, May 1 (Korea Bizwire) — Bluehole Studio Inc. revealed its plans on Monday to distribute bonuses to the developers of the hugely popular online game “PlayerUnknown’s Battlegrounds” (PUBG for short), developed by its subsidiary PUBG Corporation. According to Bluehole, the company will pay out up to 5 billion won per employee in incentives. Bluehole [...]
SEOUL, Apr. 30 (Korea Bizwire) — The McDonald’s outlet at exit No. 3 of Seoul’s Shinchon Station: for many, it was more than a run-of-the-mill burger place to grab a bite to eat. “Looking for a job after graduation, I spent many hours there for group studies and mock interviews with other applicants,” said Song [...]
SEOUL, Apr. 27 (Korea Bizwire) — Sales and profits at Hyundai Motor fell in the first quarter of the year in the midst of an unfavorable global environment. The Korean carmaker hopes to boost its sales figures by releasing a number of new cars and SUVs in the second quarter. Hyundai released its earnings for [...]