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Lotte Set to Launch New Department to Boost E-commerce Business

Lotte Set to Launch New Department to Boost E-commerce Business

SEOUL, Jul. 30 (Korea Bizwire) — South Korea’s retail giant Lotte said Monday a new department in charge of the business group’s online businesses is set to be launched this week as the conglomerate revs up efforts to cope with the rapid expansion of the country’s online market. Earlier in May, Lotte unveiled the plan [...]

SK hynix to Build New Plant in Icheon with 3.5 tln Won

SK hynix to Build New Plant in Icheon with 3.5 tln Won

SEOUL, Jul. 27 (Korea Bizwire) — SK hynix Inc. said Friday it will build a new semiconductor fabrication (FAB) plant at its headquarters in Icheon, southeast of Seoul, seeking to cope with the rising demand for memory chips around the globe. South Korea’s No. 2 chipmaker said the construction will begin later this year, which [...]

Marriott to Remove Plastic Straws from its Hotels by 2019

Marriott to Remove Plastic Straws from its Hotels by 2019

SEOUL, Jul. 20 (Korea Bizwire) — Marriott International said Friday the company will remove disposable plastic straws and plastic stirrers from its more than 6,500 properties by July next year, joining global efforts to reduce plastic pollution. The announcement came less than two weeks after Starbucks Coffee Co. vowed to eliminate single-use plastic straws from [...]

Seven Entertainment Firms to Launch Korean Version of Vevo

Seven Entertainment Firms to Launch Korean Version of Vevo

SEOUL, Jul. 19 (Korea Bizwire) — South Korea’s seven leading entertainment companies said Thursday they will launch a joint venture to oversee the global distribution and management of their music videos. The seven entertainment firms — SM, YG, JYP, Big Hit, Mystic, FNC and Star Empire — signed an agreement to launch what is tentatively [...]