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LG Uplus to Expand Non-telecom Biz Portfolio to Up to 40 pct of Total Sales by 2027

LG Uplus to Expand Non-telecom Biz Portfolio to Up to 40 pct of Total Sales by 2027

SEOUL, Sept. 15 (Korea Bizwire) — LG Uplus Corp. aims to expand its non-telecom business portfolio to account for up to 40 percent of its total sales by 2027, as South Korea’s third-largest wireless carrier plans to transform itself into a digital platform service provider from its traditional telecom identity, its CEO said Thursday. At [...]

Hankook Tire to Invest 2.1 tln Won for U.S. Plant Expansion

Hankook Tire to Invest 2.1 tln Won for U.S. Plant Expansion

SEOUL, Aug. 29 (Korea Bizwire) — Hankook Tire & Technology Co., the world’s sixth-biggest tiremaker by sales, said Monday it will invest 2.1 trillion won (US$1.5 billion) to expand its existing U.S. tire manufacturing plant by early 2026. Hankook Tire currently produces 5.5 million tires a year for passenger vehicles and light-duty trucks in the [...]

As Seen in KT’s ‘Attorney Woo’ Experiment, Telcos Making Big Leaps into Content Business

As Seen in KT’s ‘Attorney Woo’ Experiment, Telcos Making Big Leaps into Content Business

SEOUL, July 26 (Korea Bizwire) – “Extraordinary Attorney Woo,” a South Korean TV series about a rookie lawyer with autism spectrum disorder, has become the latest global K-drama sensation, dominating local cable show ratings and topping Netflix’s viewership chart of non-English shows for multiple weeks. And for all the praise the show has garnered, fans [...]

SK hynix Withholds Capacity Expansion Plan amid Growing Global Uncertainty

SK hynix Withholds Capacity Expansion Plan amid Growing Global Uncertainty

SEOUL, July 19 (Korea Bizwire) — SK hynix Inc. suspended a factory expansion plan as global economic uncertainty is growing with red-hot inflation squeezing consumers’ buying power for electronic devices, sources said Tuesday. The world’s second-largest memory chip maker decided to hold off a capacity addition plan at its Cheongju campus during a board meeting [...]

POSCO International Picks Indonesia, Australia, Uzbekistan as Markets in Focus

POSCO International Picks Indonesia, Australia, Uzbekistan as Markets in Focus

SEOUL, July 13 (Korea Bizwire) — POSCO International Corp. said Wednesday that Indonesia, Australia and Uzbekistan will be the company’s new “strategic markets” for future growth as it seeks to bolster investment in energy, food and other eco-friendly sectors. The trading unit of South Korean steel giant POSCO Holdings Inc. made the announcement as it [...]

SK Telecom in Talks to Launch Metaverse Service ifland in N. America, Europe

SK Telecom in Talks to Launch Metaverse Service ifland in N. America, Europe

SEOUL, July 13 (Korea Bizwire) — SK Telecom Co., South Korea’s largest mobile carrier, said Wednesday it was in talks with major overseas telecom operators to start rolling out its metaverse platform ifland in North America, Europe and other regions later this year. The announcement was made a day ahead of the one year anniversary [...]

Kakao’s Push to Sell Shares of Kakao Mobility to Private Equity Fund Draws Labor Union Backlash

Kakao’s Push to Sell Shares of Kakao Mobility to Private Equity Fund Draws Labor Union Backlash

SEOUL, July 12 (Korea Bizwire) — A push by Kakao Corp. to sell part of its shares of Kakao Mobility Corp. to a private equity fund has drawn strong protest from its labor union, which criticized the South Korean tech giant for neglecting its corporate social responsibility. Kakao, which currently owns a 57.5 percent stake [...]

Korean Drug Firms Double Down on ESG Management

Korean Drug Firms Double Down on ESG Management

SEOUL, July 11 (Korea Bizwire) — South Korean drug companies and biotech firms are stepping up to advance environmental, social, and governance (ESG) management following the coronavirus pandemic and concerns over global warming. SK Bioscience Co. said in its ESG report published last month for the first time since its establishment that it had generated [...]