SEOUL, Apr. 24 (Korea Bizwire) — Cosmecca Korea Co., a local cosmetics maker, said Tuesday it has bought a U.S. original design manufacturer (ODM) in a 57.76 billion won (US$53.7 million) deal as it moves to expand its presence in the global market. The Korean company, listed on the country’s secondary bourse KOSDAQ, said it [...]
SEOUL, Apr. 23 (Korea Bizwire) — South Korea’s small and medium enterprises (SMEs) are seeking to expand into overseas markets as they face mounting challenges at home, a poll by a local think tank showed Sunday. According to the Center for Large and Small Business Cooperation, 85.5 percent of all SMEs in the country said [...]
SEOUL, Apr. 23 (Korea Bizwire) — GM Korea Co. the local unit of leading U.S. automaker is capable of pulling off an overall surplus in its business operations in 2020 if all sides can agree to a comprehensive restructuring plan, a preliminary report said Sunday. According to financial market sources, the due diligence being carried [...]
GOYANG, Apr. 19 (Korea Bizwire) — Ikea Group’s CEO Jesper Brodin said Thursday the global furniture giant will move to improve accessibility to its services through expansion of online business and opening of stores in city centers. The company said it plans to launch an e-commerce channel in South Korea by August, nearly four years [...]
SEOUL, Apr. 19 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Thursday it will test a self-driving vehicle in the United States this year, with an aim to mass-produce a semi-autonomous car in 2022. The company said it plans to start test driving a vehicle named M.BILLY on the motorways [...]
SEOUL, Apr. 18 (Korea Bizwire) — Samsung Electronics invested the most money in research and development (R&D) among local companies last year, while internet portal Naver was No. 1 in investment in proportion to sales, corporate analysis showed Wednesday. CEO Score compared 211 firms who rank within the top 500 companies in terms of sales [...]
SEOUL, Apr. 16 (Korea Bizwire) — SK Holdings Co. on Monday showcased a new human resources solution that utilizes artificial intelligence (AI) technology, allowing clients to simplify the process of reviewing resumes. The company said the program, “Aibril HR,” will be utilized by the local recruitment service provider Scout. Under the cooperation, the two companies [...]
SEOUL, Apr. 15 (Korea Bizwire) — U.S. automobile giant General Motors Co. hinted at possible willingness to withdraw the planned debt-for-equity swap for GM Korea Co., in an apparent bid to induce the state creditor to pump more cash into the financially-troubled South Korean unit, industry sources said Sunday. According to the sources, GM Executive [...]
SEOUL, Apr. 13 (Korea Bizwire) — LG Electronics Inc. said Friday it has joined forces with Italy-based furniture firm Natuzzi Group to jointly develop a smart home package boasting Internet-of-Things (IoT) technology. Under the arrangement, LG and Natuzzi will showcase smart home solutions at the Milano Design Week slated for later this month, including jointly [...]
SEOUL, Apr. 13 (Korea Bizwire) — When Chung Sung-yeop opened a franchise convenience store in a commercial district of northern Seoul in 2015, there was one competing store within a 1-kilometer radius. Since then, three more convenience stores have opened within easy reach of his outlet, squeezing profits and hurting sales. “Literally, the convenience store [...]