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 [...]
SEOUL, June 5 (Korea Bizwire) — Small business owners in Hong Kong have suffered from major losses due to the coronavirus pandemic coupled with last year’s pro-democracy protests. They are about to face even more turmoil as China plans to impose a new security law on Hong Kong and the United States has threatened to [...]
SEOUL, May 1 (Korea Bizwire) — While the overall domestic industry is in a slump due to the spread of the novel coronavirus infection, some companies have benefited from changes in consumption patterns. For companies specializing in household goods and home interior, COVID-19 has actually been a boon, and these companies are the envy of [...]
SEOUL, Sept. 26 (Korea Bizwire) — The heads of South Korea’s major conglomerates have recently called for a series of countermeasure strategies, labeling the situation of heightened uncertainty at home and abroad as an “unprecedented crisis.” In particular, they say that such a crisis is not a matter to be resolved in a short period [...]