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Kakao to Expand Food Delivery Service

Kakao to Expand Food Delivery Service

SEOUL, Jun. 19 (Korea Bizwire) — Kakao Corp., best known for its ubiquitous smartphone messaging app, is expanding its recent venture into the food delivery service. Having initiated delivery service for select franchise stores as a third-party in March of last year, Kakao has announced that it is expanding its delivery service to include all [...]

Banks Target Foreign Residents in South Korea

Banks Target Foreign Residents in South Korea

SEOUL, Jun. 19 (Korea Bizwire) — With more than 2 million foreign residents in South Korea, and the number of individuals with voting rights surpassing 100,000 people for the first time this year, local banks are targeting foreign retail banking customers to cash in on the rising expat population. Some banks have started offering banking [...]

Samsung Electronics Pivots to Renewable Energy

Samsung Electronics Pivots to Renewable Energy

SEOUL, Jun. 15 (Korea Bizwire) — Samsung Electronics revealed yesterday that it will be installing solar power generators at all of its business facilities in the U.S., Europe and China. In Korea, some but not all facilities will be equipped with solar power generating systems. To kick off the initiative, Samsung will install solar panels [...]

Local Watchers Say Global Franchise Opening in North Still Premature

Local Watchers Say Global Franchise Opening in North Still Premature

SEOUL, Jun. 15 (Korea Bizwire) — Better relations between North Korea and the United States could open up the hermit state to Western brand franchises, a notion that local industry watchers said Friday is possible but premature at this stage. If such a day does come, decisions and preparations would be made by the overseas [...]

Vending Machines to Start Selling Beef

Vending Machines to Start Selling Beef

SEOUL, Jun. 14 (Korea Bizwire) — Starting at the end of this month, beef will be available through IoT-based vending machines for purchase by consumers. The measure is aimed at relaxing measures previously binding the livestock industry while helping consumers gain easier access to beef. When beef goes on sale at vending machines, consumers will [...]

Hyundai Motor to Develop AI Tech with Chinese Partners

Hyundai Motor to Develop AI Tech with Chinese Partners

SEOUL, Jun. 14 (Korea Bizwire) — Hyundai Motor is set to develop futuristic AI technology for self-driving cars by partnering with Chinese tech companies. At CES Asia 2018 in Shanghai, the largest electronics exhibit in Asia, the Korean carmaker announced a tech partnership with DeepGlint, a Chinese startup specializing in the field of artificial intelligence. [...]

Banks Preparing for Possible Resumption of Inter-Korean Projects

Banks Preparing for Possible Resumption of Inter-Korean Projects

SEOUL, Jun. 14 (Korea Bizwire) — South Korean banks have stepped up preparations for a possible resumption of economic projects in North Korea, as a historic summit between U.S. President Donald Trump and North Korean leader Kim Jong-un raised hopes of more reconciliation between Seoul and Pyongyang. After about five hours of talks in Singapore [...]

Shinsegae Vice Chairman Steps Up Foreign Market Research

Shinsegae Vice Chairman Steps Up Foreign Market Research

SEOUL, Jun. 10 (Korea Bizwire) — Shinsegae Group Vice Chairman Chung Yong-jin appears to have stepped up foreign market research ahead of the retailer’s launch of a premium grocery store in the United States next year. According to posts of Chung’s Instagram account, he appeared to have visited a food exhibition in the Netherlands last [...]

S. Korean Mid-tier Companies Interested in Biz Opportunities in N. Korea

S. Korean Mid-tier Companies Interested in Biz Opportunities in N. Korea

SEOUL, Jun. 10 (Korea Bizwire) — South Korean companies are gradually moving to position themselves to enter North Korea’s largely untapped market once international sanctions are lifted, corporate sources here said Sunday. Several mid-tier companies have expressed interest in the North amid growing predictions that some sort of resolution can be reached on Pyongyang’s decadeslong [...]