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 [...]
SEOUL, Mar. 18 (Korea Bizwire) — Several South Korean pharmaceutical companies have decided to make new facility investments in a bid to hone their competitiveness, industry sources said Monday. The decisions, made at annual shareholder meetings, are seen as reflecting their efforts to streamline and expand infrastructure for research and development (R&D), as well as [...]
SEOUL, Mar. 12 (Korea Bizwire) — U.S. e-cigarette maker Juul Labs Inc. is targeting to enter the South Korean market during the first half of the year, a company official said Tuesday. The Juul, rolled out by the San Francisco-based company in 2017, has become the most popular e-cigarette in America, with a market share [...]
SEOUL, Mar. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s leading electric vehicle (EV) battery maker, is considering a second plant in Europe to meet growing demand, industry sources said Monday. LG Chem already has an electric car battery production plant in Poland. In November, LG Chem decided to invest 651 billion won (US$577 [...]