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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 [...]

Drugmakers Decide on Capital Spending

Drugmakers Decide on Capital Spending

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 [...]

WeWork to Invest Further in S. Korea for Growth

WeWork to Invest Further in S. Korea for Growth

SEOUL, Mar. 3 (Korea Bizwire) — U.S.-based coworking space provider WeWork will “definitely” continue to invest in South Korea as it sees a growing number of individuals and startups seeking support and a sense of community, a WeWork executive said Sunday. WeWork entered Korea in August 2016 by opening its first location in the affluent [...]

Hyundai Outlines 5-year Investment Plan for Growth

Hyundai Outlines 5-year Investment Plan for Growth

SEOUL, Feb. 27 (Korea Bizwire) — Hyundai Motor Co., South Korea’s biggest carmaker by sales, on Wednesday outlined a massive five-year investment plan centered on research and future vehicle technologies and underlined the need to maintain sufficient liquidity to guarantee growth. The announcement comes a day after U.S. activist investor Elliott Management demanded Hyundai Motor [...]

Huawei Wants to Invest More in S. Korea: Official

Huawei Wants to Invest More in S. Korea: Official

BARCELONA, Feb. 27 (Korea Bizwire) — Chinese telecom equipment maker Huawei Technologies Inc. wants to expand investment in South Korea’s 5G infrastructure and services as it moves to strengthen its presence in the key market, a senior network official said Wednesday. South Korean carrier LG Uplus used Huawei’s equipment for its 5G infrastructure and is [...]

LG Uplus Stresses 5G Security amid Huawei Concerns

LG Uplus Stresses 5G Security amid Huawei Concerns

BARCELONA, Feb. 25 (Korea Bizwire) — LG Uplus Corp., South Korea’s third-largest mobile carrier, said Monday that it will step up security measures on its 5G network that uses Huawei’s equipment, addressing concerns over the Chinese telecom gear maker that’s facing possible bans around the world. LG Uplus CEO Ha Hyun-hoi tried to assuage concerns [...]

Food Companies Scramble to Develop Seafood-based Home Meal Replacements

Food Companies Scramble to Develop Seafood-based Home Meal Replacements

SEOUL, Feb. 25 (Korea Bizwire) — Food companies are coming up with variety of recipes, including salmon and tuna, for home meal replacement (HMR) products. In 2017, South Koreans consumed 58.4 kilograms of fishery products per person, surpassing Japan to become the largest consumers in the world. According to the Norwegian Seafood Council, the favorite [...]