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 [...]
SEOUL, Apr. 2 (Korea Bizwire) — South Korea’s top portal operator, Naver Corp., said Tuesday it will place only its search engine feature on the first page of its mobile website later this week. On Wednesday, all news headlines provided by news outlets across the country will be removed from the first page of the [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Mar. 21 (Korea Bizwire) — SK Innovation Co., South Korea’s top oil refiner, said Thursday that its shareholders approved a plan to spin off a unit that focuses on the development of information and electronic materials. The spin-off underscores its commitment to fostering its new growth engine, SK Innovation said. With the latest move, [...]
SEOUL, Mar. 20 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-biggest carmaker by sales, said Wednesday that it is considering production of electric vehicles (EVs) at one of its three plants in China amid faltering sales there. “The company is considering halting the production of existing models such as the Sportage sport utility vehicle [...]
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 [...]
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 [...]