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Uber Launches Food Delivery Service in S. Korea

Uber Launches Food Delivery Service in S. Korea

SEOUL, Aug. 10 (Korea Bizwire) — Uber Technologies Inc. launched its food delivery service in South Korea on Thursday, joining the country’s heated delivery service app market. The mobile application UberEATS allows users to select food from registered restaurants and deliver the dishes by its delivery partners, its local unit Uber Korea said. “Food delivery [...]

Samsung Display Vows to Tap Deeper into Curved, Slim Displays

Samsung Display Vows to Tap Deeper into Curved, Slim Displays

SEOUL, Aug. 9 (Korea Bizwire) — Samsung Display Co. said Wednesday it plans to tap deeper into the premium liquid crystal display (LCD) business through premium, ultra-slim curved TVs. “Samsung Display will continue to roll out investment and develop technologies for the premium curved LCD,” the company said during a forum it hosted in China. [...]

K-Bank Raises Deposit Rate to Fend off Kakao Bank

K-Bank Raises Deposit Rate to Fend off Kakao Bank

SEOUL, Aug. 9 (Korea Bizwire) — K-Bank, South Korea’s first Internet-only bank, said Wednesday it has raised its deposit rate, in an apparent bid to fend off its competitor, Kakao Bank. K-Bank increased the rate it offers on a 1-year time deposit by 10 bps to 2.1 percent, compared with 2 percent offered by Kakao [...]

WeWork to Invest US$500 mln in S. Korea, Southeast Asia

WeWork to Invest US$500 mln in S. Korea, Southeast Asia

SEOUL, Aug. 7 (Korea Bizwire) — WeWork, a global shared office space provider, said Monday it will invest a combined US$500 million in South Korea and Southeast Asia as it attempts to expand its presence in the Asian market. Under the expansion plan, the New York-based company has appointed Matt Shampine, currently head of Marketing [...]

Hanssem to Open First Chinese Flagship Store in Shanghai

Hanssem to Open First Chinese Flagship Store in Shanghai

SEOUL, Aug. 7 (Korea Bizwire) — Hanssem, an interior and lifestyle company, said Monday it will open its first Chinese branch in Shanghai this week to compete in the 740 trillion-won (US$656 billion) market. The two-story Hanssem Shanghai Flagship Store will open Tuesday in the Changning District. The store will cover some 13,000 square meters, [...]

S. Korean Firms to Benefit from iPhone 8 Smartphone Release: Sources

S. Korean Firms to Benefit from iPhone 8 Smartphone Release: Sources

SEOUL, Aug. 6 (Korea Bizwire) — South Korean electronics companies are to benefit from the launch of Apple Inc.’s next flagship iPhone 8 smartphones expected to be launched later this year as they are providers of major electronic parts, industry sources said Sunday. Apple is forecast to release new iPhone models equipped with flexible organic [...]

LG to Adopt ‘OLED Full Vision’ on New Flagship Smartphone

LG to Adopt ‘OLED Full Vision’ on New Flagship Smartphone

SEOUL, Aug. 3 (Korea Bizwire) — LG Electronics Inc. said Thursday it plans to adopt what it calls organic light-emitting diode (OLED) Full Vision display for its new flagship smartphone set to be showcased later this month. The latest display marks an update from the 18:9 ratio Full Vision display that was adopted by the [...]

Hyundai Robotics Meets Requirements for Holding Company

Hyundai Robotics Meets Requirements for Holding Company

SEOUL, Aug. 2 (Korea Bizwire) — Hyundai Robotics said Wednesday that it has secured a more than 20 percent stake in its listed affiliates in a move that made it eligible to become the holding company of Hyundai Heavy Industries Group. The company said it acquired the stocks through an open takeover offering that raised [...]

Kakao Bank’s Usage Yet to Meet Its Size

Kakao Bank’s Usage Yet to Meet Its Size

SEOUL, Aug. 1 (Korea Bizwire) — The Internet-only Kakao Bank has succeeded in starting big, gaining over 1 million clients in just five days following its launch, but how the initial clients are using the service suggests there is room for improvement, industry watchers said Tuesday. Kakao Bank outdid four-months-old K-Bank, the country’s first Internet-only [...]

LG Display to Focus Capital Spending on OLED

LG Display to Focus Capital Spending on OLED

SEOUL, Jul. 27 (Korea Bizwire) — LG Display Co. said Thursday it will suspend making investments in liquid-crystal display (LCD) panels for TVs, and instead focus its efforts on developing the next-generation organic light-emitting diode (OLED) panels. “There will be no additional investment on LCD TVs,” said Han Sang-beom, the head of LG Display. “There [...]