SEOUL, Nov. 24 (Korea Bizwire) — A variety of businesses from various sectors are making forays into the cosmetics market with entry barriers dropping, amid expectations that they could create a synergy effect through combination with their existing businesses. According to the Ministry of Food and Drug Safety, the number of cosmetics sellers that acquired [...]
SEOUL, Oct. 14 (Korea Bizwire) — South Korea’s franchise industry showed a clear sign of polarization by business type last year, a corporate tracker said Wednesday. CEO Score analyzed the change in the number of franchise stores and the financial performance of franchise headquarters over the past three years for the nation’s 233 major franchise [...]
SEOUL, Sept. 7 (Korea Bizwire) — An increasing number of companies are using data instead of ‘guts’ to do business with the introduction of various services that analyze sales and market trends. Last February, major South Korean credit card issuer Samsung Card Co. introduced LINK Partner, a service that collects and analyzes customer payment data [...]
SEOUL, Sept. 6 (Korea Bizwire) — Chinese subsidiaries of South Korean firms saw their sales sink nearly 7 percent in 2020 from four years earlier due to their dropping market share in the world’s second-largest economy, data showed Monday. Combined Chinese sales of 30 out of South Korea’s top 100 companies came to 117.1 trillion [...]
SEOUL, July 27 (Korea Bizwire) — With the implementation of the highest Level 4 social distancing restrictions for Seoul metropolitan area resulting in a plunge in night sales, an increasing number of South Korean restaurants are focusing instead on attracting customers during the day. A franchise Chinese restaurant in Yeouido, Seoul’s financial district, started providing [...]
SEOUL, June 30 (Korea Bizwire) — After enjoying explosive growth during the COVID-19 pandemic, South Korea’s test kit makers are exploring ways to diversify their business portfolio in a preemptive move to cope with the deterioration of their financial performance in the post-coronavirus era. Seegene Inc., a major diagnostic assay maker in the country, unveiled [...]
SEOUL, June 22 (Korea Bizwire) — With airlines continuing to struggle with the aftermath of the coronavirus outbreak, low-cost carriers are beginning to take on ‘secondary jobs’. Jeju Air Co., South Korea’s biggest budget carrier by sales, is running an ‘in-flight meal cafe’ at a shopping mall complex in Seoul’s Hongdae area until July 28. [...]
SEOUL, April 28 (Korea Bizwire) — The chief of Ericsson-LG, a telecom equipment joint venture between Sweden-based Ericsson and South Korea’s LG Electronics Inc., said Wednesday that there will be no impact to its business even after the local tech giant’s planned exit from its loss-making handset business. LG Electronics said earlier this month that [...]
QUEBEC CITY, Jan. 27 (Korea Bizwire) – LeddarTech®, a global leader in Level 1-5 ADAS and AD sensing technology, announces notable and significant growth in 2020. Despite the pandemic, LeddarTech, a pioneer in automotive sensing technology, boosted growth in investment, units sold, ecosystem partnerships, strategic customer engagements, and acquisitions in 2020. In November of 2020, LeddarTech [...]
SEOUL, Nov. 19 (Korea Bizwire) — South Korean major oil refiners are moving heaven and earth to get out of a prolonged slump by shifting their focus to new ventures. SK energy Co., a wholly owned unit of the country’s leading refiner SK Innovation Co., recently revised its articles of incorporation and added ‘telecommunication sales [...]