SEOUL, May 28 (Korea Bizwire) — Retail and chemical giant Lotte Group is ramping up efforts to tap deeper into Southeast Asia and advanced economies amid falling sales in China, once its biggest overseas market, industry sources said Tuesday. Overseas sales of the conglomerate came to 8.9 trillion won (US$7.49 billion) in 2018, up 7.2 [...]
SEOUL, May 27 (Korea Bizwire) – SK Innovation Co., South Korea’s top oil refiner, said Monday it will expand its electric vehicle (EV) battery production capacity 20 times more than the current level by 2025 to meet growing demand and expand its presence in the promising market. SK Innovation CEO Kim Jun said the company aims to [...]
SEOUL, May 24 (Korea Bizwire) — Experts are raising the possibility that Japanese tech giant Sony Corp. will retreat from the South Korean smartphone market due to recent struggles. Sony also decided not to release new smartphones in South Korea for the first half of this year. Sony announced on Tuesday at a Corporate Strategy Meeting [...]
SEOUL, May 23 (Korea Bizwire) — South Korea’s top Internet portal operator, Naver Corp., aims to accelerate the global expansion of its live streaming platform, V Live, based on its cutting-edge technology, the company said Thursday. Launched in August 2015, V Live allows K-pop celebrities to broadcast live videos on the Internet and chat live [...]
SEOUL, May 20 (Korea Bizwire) — Kakaopay Corp. said Monday that it will expand its offline payment business to solidify its status as South Korea’s leading fintech service platform provider. Kakaopay said it plans to launch its own application within this year so that more users can use credit cards through the one-click payment system [...]
SEOUL, May 16 (Korea Bizwire) — Samsung SDI Co. said Thursday it launched high-capacity energy storage systems (ESS) to expand its presence in the global market amid weak domestic demand over safety issues. The battery-making unit of Samsung Electronics Co. said it showcased its latest ESS technologies at ees Europe 2019, the world’s largest ESS [...]
SEOUL, May 15 (Korea Bizwire) — SK Innovation Co., South Korea’s top oil refiner, said Wednesday it will invest 580 billion won (US$487 million) to build an electric vehicle (EV) battery plant in China. In a regulatory filing, SK Innovation, a latecomer to the EV battery sector, said that it will set up a new [...]
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 [...]