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Kakao Bank Logs Rapid Growth in the Year Since its Launch

Kakao Bank Logs Rapid Growth in the Year Since its Launch

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 [...]

Seven Entertainment Firms to Launch Korean Version of Vevo

Seven Entertainment Firms to Launch Korean Version of Vevo

SEOUL, Jul. 19 (Korea Bizwire) — South Korea’s seven leading entertainment companies said Thursday they will launch a joint venture to oversee the global distribution and management of their music videos. The seven entertainment firms — SM, YG, JYP, Big Hit, Mystic, FNC and Star Empire — signed an agreement to launch what is tentatively [...]

SK hynix to Forge Broader Ties with 3 Subcontractors for R&D

SK hynix to Forge Broader Ties with 3 Subcontractors for R&D

SEOUL, Jul. 18 (Korea Bizwire) — SK hynix Inc. said Wednesday it will join forces with three of its subcontractors to carry out joint research and development projects as part of its efforts to seek shared growth. The chipmaker said it will provide “comprehensive technological support” to MiCo Ltd., UBmaterials Inc. and TEMC for the [...]

Homepick to Launch New Delivery Service to Reach Consumers “Within an Hour”

Homepick to Launch New Delivery Service to Reach Consumers “Within an Hour”

SEOUL, Jul. 17 (Korea Bizwire) — Homepick, a joint venture by local energy giants SK Energy and GS Caltex to provide delivery service based on their network of gas stations, is defined by the following tagline: “We deliver within an hour if you’re home.” In the past, delivery service customers had to either wait at [...]

SK Telecom Develops Combined Heat and Power System for Hyundai Factory

SK Telecom Develops Combined Heat and Power System for Hyundai Factory

SEOUL, Jul. 13 (Korea Bizwire) — SK Telecom revealed yesterday that it had developed two systems for Hyundai Motor’s Ulsan factory, allowing the facility to be more efficient with its energy consumption. One is a combined heat and power system and the other, a factor energy management solution. The combined heat and power system will [...]

Naver to Provide Cloud Service to Mirae Asset Daewoo

Naver to Provide Cloud Service to Mirae Asset Daewoo

SEOUL, Jun. 13 (Korea Bizwire) — Naver Business Platform Corp., a cloud service provider under South Korea’s top webportal operator Naver Corp., said Friday it has partnered with Mirae Asset Daewoo, a local financial company, to provide high-performance computing (HPC) cloud solutions. HPC refers to the utilization of supercomputers and other high-end computers to carry [...]

Non-German Foreign Carmakers Post Strong Performances for 2017 in S. Korea

Non-German Foreign Carmakers Post Strong Performances for 2017 in S. Korea

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 [...]

Hyundai, Baidu to Strengthen Ties in Connected Cars

Hyundai, Baidu to Strengthen Ties in Connected Cars

SEOUL, Jul. 10 (Korea Bizwire) — South Korea’s Hyundai Motor Group and Chinese internet search behemoth Baidu will strengthen their partnership in developing connected vehicles and related technologies, the company said Tuesday. In their strategic business partnership, Hyundai Motor Group and Baidu will jointly develop connected car services that provide a variety of in-car content [...]

KEPCO Seeks Greater Foothold in India’s Renewable Energy Market

KEPCO Seeks Greater Foothold in India’s Renewable Energy Market

SEOUL, Jul. 10 (Korea Bizwire) — The state-run Korea Power Electric Corp. (KEPCO) said Tuesday it will beef up technology cooperation with India’s state-run power company for renewable energy projects as it strives to make inroads into the vast market. KEPCO signed a memorandum of cooperation with Power Grid Corporation of India Ltd.(PGCIL) during a [...]