SEOUL, Jul. 9 (Korea Bizwire) — Experts on North Korea say that an increasing number of citizens of the secluded state are buying bottled water for their personal consumption. One explanation for the increase in demand is attributed to the lack of clean water and proper water purification facilities. But another reason for the newfound [...]
SEOUL, May 21 (Korea Bizwire) — Samsung Electronics Co. recently opened a research and development (R&D) center for its foundry business, industry sources said Monday, reflecting its drive to advance deeper into the segment. Industry sources said Samsung, which has emerged as one of the major leaders of the global chip industry, is currently seeking [...]
SEOUL, May 16 (Korea Bizwire) — Hyundai Motor Co. said Wednesday it will expand its investment in U.S. wireless technology company Metawave for an improved partnership on autonomous vehicles. Hyundai Motor made an initial investment in Metawave last year in a bid to jointly develop cutting-edge radar technology for autonomous vehicles. This year, it will [...]
SEOUL, May 15 (Korea Bizwire) — South Korea’s retail giant Lotte said Tuesday it will inject 3 trillion won (US$2.84 billion) into the conglomerate’s e-commerce business in the next five years to cope with the rapid expansion of the country’s online market. As part of its plan, Lotte Shopping Co. said eight online malls that [...]
SEOUL, May 10 (Korea Bizwire) — South Korea’s IT developer Samsung SDS Co. said Thursday it has bought stakes in U.S.-based graphics processing unit (GPU) virtualization solution provider Bitfusion Inc. Samsung SDS did not provide details of the deal, including the size of the shares acquired and price, citing business issues. The South Korean company [...]
SEOUL, May 8 (Korea Bizwire) — South Korea’s top mobile carrier SK Telecom Co. on Tuesday acquired stakes in ADT Caps Co., a security service provider, in a joint investment with Australia-based Macquarie Group. Under the deal estimated at 1.27 trillion won (US$1.17 billion), SK Telecom will hold a 55 percent stake in ADT Caps, [...]
SEOUL, May 3 (Korea Bizwire) — French cosmetics giant L’Oreal said Thursday it will buy Nanda Co., one of South Korea’s leading online retailers, amid the global popularity of K-pop and Korean beauty items. L’Oreal said it will wholly purchase the makeup and fashion company, without disclosing the transaction price. It marks the French firm’s [...]
SEOUL, Apr. 30 (Korea Bizwire) — Korean cosmetics producers are heading into the global market after success in China and Southeast Asia. Both manufacturers and distributors alike of Korean cosmetics are expanding their production facilities to more advanced markets such as the U.S. and Japan, while taking an aggressive stance via mergers or takeover of [...]
SEOUL, Apr. 24 (Korea Bizwire) — Cosmecca Korea Co., a local cosmetics maker, said Tuesday it has bought a U.S. original design manufacturer (ODM) in a 57.76 billion won (US$53.7 million) deal as it moves to expand its presence in the global market. The Korean company, listed on the country’s secondary bourse KOSDAQ, said it [...]
SEOUL, Apr. 18 (Korea Bizwire) — Samsung Electronics invested the most money in research and development (R&D) among local companies last year, while internet portal Naver was No. 1 in investment in proportion to sales, corporate analysis showed Wednesday. CEO Score compared 211 firms who rank within the top 500 companies in terms of sales [...]