SEOUL, Dec. 7. (Korea Bizwire) — Han Jung-su, a 30-something office worker in Seoul, arrives at his office with a smile. The first thing he does after a 40-minute drive in morning rush hour is check his car’s fuel mileage to figure out how much money he’s saved. “At first, I hesitated to opt for [...]
SEOUL, Dec. 5 (Korea Bizwire) — Local builders are resorting to early retirement plans and large-scale manpower reshuffles to weather a possible industry-wide slump going forward, people in the sector said Wednesday. Samsung C&T has been carrying out staff restructuring over the past two years and recently opened an early retirement package to employees who [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea’s retail giant Lotte Group is considering expanding investment in Vietnam, industry sources said Tuesday. According to the observers, Lotte Group Chairman Shin Dong-bin met Hanoi’s Chairman of the People’s Committee Nguyen Duc Chung on Tuesday and insisted that the conglomerate is open to expanding investment in the [...]
SEOUL, Dec. 4 (Korea Bizwire) — Lotte Cultureworks, the retail giant Lotte Group’s cinema affiliate, has made inroads into Indonesia, with a goal to open 20 movie theaters in the Southeast Asian country by 2020, the company said Tuesday. As the initial step, the operator of Lotte Cinema, one of the biggest South Korea movie [...]
SEOUL, Dec. 3 (Korea Bizwire) — South Korean media and entertainment company CJ ENM has invested about US$ 1 million in the production of “Moulin Rouge,” a Broadway musical set to open in June, the company said Monday. It became the company’s third participation in the production of overseas musicals after “Kinky Boots” and “The [...]
SEOUL, Nov. 30 (Korea Bizwire) — The new generation of 5G telecommunications technology is expected to dawn upon the nation come December 1. South Korea’s three major telecommunication operators will be initiating their 5G services in six major cities including the Seoul metropolitan area next month. The transmission speed of 5G is 20 times that [...]
WASHINGTON, Nov. 28 (Korea Bizwire) — The chairman of South Korea’s SK Group was in Washington on Wednesday, vowing to make a commitment not only to the U.S. market but also its people and society. Chey Tae-won, who heads South Korea’s third-largest conglomerate by assets, formally opened the Washington office of chipmaker SK hynix Inc. [...]
SEOUL, Nov. 28 (Korea Bizwire) — Renault Samsung Motors Corp. said Wednesday it will provide more Twizy ultracompact electric cars to a local car sharing service, a move to strengthen its leading stance as an electric vehicle maker. Renault Samsung will gradually supply another 45 Twizy models to the LH Happiness car-sharing service available at [...]
SEOUL, Nov. 27 (Korea Bizwire) — Poolus, a new carpool startup, has announced a plan to share its profits with its customers. According to the plan, Poolus will distribute “pool points” to users of its service, which can either be cashed in or exchanged for shares in the company. In addition, AI technology will be [...]
SEOUL, Nov. 26 (Korea Bizwire) — SK Innovation Co., South Korea’s top energy-chemical business, said Monday that it will invest 1.14 trillion won (US$1.01 billion) to build an electric vehicle (EV) battery plant in the United States. The company said it has decided to construct the 9.8 gigawatt-hour capacity battery plant in the city of [...]