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LG Display to Streamline LCD Biz amid Snowballing Losses

LG Display to Streamline LCD Biz amid Snowballing Losses

SEOUL, Sept. 17 (Korea Bizwire) — LG Display Co. said Tuesday it will begin a voluntary retirement program as part of cost-cutting efforts amid mounting losses from its liquid crystal display (LCD) business. The display making unit of LG Electronics Inc. said it will accept early retirement from manufacturing employees who have worked over five [...]

Hyundai Motor Invests in Europe’s Largest Fast EV Charging Service Provider

Hyundai Motor Invests in Europe’s Largest Fast EV Charging Service Provider

SEOUL, Sept. 9 (Korea Bizwire) — Hyundai Motor Group, South Korea’s biggest automotive group, said Monday it has invested in Europe’s largest fast electric vehicle (EV) charging service provider to further push up sales of its battery-powered cars in the continent. The group, which owns Hyundai Motor Co. and Kia Motors Corp., signed a deal [...]

LG Eyes Fast-Growing Built-in Home Appliance Market

LG Eyes Fast-Growing Built-in Home Appliance Market

BERLIN, Sept. 8 (Korea Bizwire) — LG Electronics Inc. is ramping up investment to expand businesses in the built-in home appliance market to capitalize on the fast growing segment, its president said on Sunday. Song Dae-hyun, the head of LG’s home appliance and air solution division, said the company aims to become a “top-tier” player [...]

S. Korean Food Companies Aim for U.S. Market

S. Korean Food Companies Aim for U.S. Market

SEOUL, Sept. 5 (Korea Bizwire) — South Korean food companies struggling with tepid domestic demand are turning their eyes to the U.S. for a breakthrough. As more Americans are taking an interest in Korean food, an increasing number of South Korean companies are beginning to see potential in the American market, many of which have [...]

Shopping Malls Fight for Survival amid Severe Crisis

Shopping Malls Fight for Survival amid Severe Crisis

SEOUL, Sept. 4 (Korea Bizwire) — Shopping malls are scrambling to overcome what is seen as one of the worst crises that they have ever faced. Retailers are pulling out all the stops to outlive the crisis, including selling off real estate and repurchasing shares. Lotte Corp. purchased 200,000 shares of Lotte Shopping Co., one [...]

S. Korean Firms Migrate to Cloud for Digital Overhaul

S. Korean Firms Migrate to Cloud for Digital Overhaul

SEOUL, Aug. 26 (Korea Bizwire) — Arming with the right technology and data is critical for survival in the digital age, and that’s why more South Korean companies are scurrying to shift their IT portfolio to cloud computing space to meet a new set of business demands and bring innovation quickly. Cloud computing allows companies [...]