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LG Electronics to Move Korean Smartphone Production to Vietnam

LG Electronics to Move Korean Smartphone Production to Vietnam

SEOUL, Apr. 24 (Korea Bizwire) — LG Electronics Inc. plans to relocate its Korean smartphone production line to Vietnam in a bid to cut costs for its money-losing mobile business, industry sources said Wednesday. The South Korean tech firm will phase out its Pyeongtaek factory, south of Seoul, by the end of this year, getting [...]

Delivery Hero Korea to Expand Investment to Attract Members and Create New Services

Delivery Hero Korea to Expand Investment to Attract Members and Create New Services

SEOUL, Mar. 28 (Korea Bizwire) — Delivery Hero Korea, a South Korean developer for major delivery apps including Yogiyo, Baedaltong, and Foodfly, announced its plans to make aggressive investments to take the lead in the South Korean delivery market. Kang Shin-bong, CEO of Delivery Hero Korea, held a press conference on Wednesday at company headquarters [...]

German Drugstore Rossmann to Launch “Official Direct Market” in S. Korea

German Drugstore Rossmann to Launch “Official Direct Market” in S. Korea

SEOUL, Mar. 27 (Korea Bizwire) — German drugstore brand Dirk Rossmann GmbH announced on Tuesday that it will launch an official direct market in South Korea on May 1. Founded in 1972, Rossmann is a brand that currently operates 2,100 stores in Germany and 3,930 stores in Europe, and plans to make full-scale inroads into [...]

S. Korean Telecoms in Race for 5G-based Security Service

S. Korean Telecoms in Race for 5G-based Security Service

SEOUL, Mar. 27 (Korea Bizwire) — South Korean telecom companies have released their new security management solutions as the country gets ready to begin 5G services that boast higher network efficiency and potential to offer high-value differentiated services. Local carriers are stepping up promotion for their new security services as they are set to launch [...]

KT to Build 30,000 5G Network Stations in S. Korea by Early Next Month

KT to Build 30,000 5G Network Stations in S. Korea by Early Next Month

SEOUL, Mar. 26 (Korea Bizwire) — KT Corp., one of South Korea’s largest telecommunication companies, said Tuesday that it plans to build 30,000 network stations across the country for its first 5G services, which are slated to kick off early next month. The country’s three main telecommunications companies, including LG Uplus, are set to provide [...]

Samsung Electronics Vows to Expand Investment in AI, 5G

Samsung Electronics Vows to Expand Investment in AI, 5G

SEOUL, Mar. 20 (Korea Bizwire) — Samsung Electronics Co. said Wednesday it will propel technology innovations to tackle the unfavorable business environment and foster new growth drivers, such as artificial intelligence (AI) and 5G. The South Korean tech giant announced its business plan during a shareholder meeting, the first since a 50:1 stock split in [...]

S. Korean Automakers Scramble to Compete over LPG Vehicles

S. Korean Automakers Scramble to Compete over LPG Vehicles

SEOUL, Mar. 18 (Korea Bizwire) — Hyundai, Kia, and Renault Samsung are scrambling to compete in the liquified petroleum gas (LPG) vehicle market that has recently been made available to ordinary consumers. Hyundai Motor Co., in particular, decided to release an LPG model of the all-new Sonata. The company, however, decided against selling the new [...]