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Samsung Confirms Additional $8 bln Investment into Xian-based Chip Plant

Samsung Confirms Additional $8 bln Investment into Xian-based Chip Plant

SEOUL, Dec. 13 (Korea Bizwire) — Samsung Electronics Co. will invest an additional US$8 billion into its memory chip plant in Xian, China, officials confirmed Thursday, as the South Korean tech giant further expands its presence in the world’s second largest economy. According to Chinese media and Xian’s municipal government, Kang Bong-yong, a Samsung Electronics [...]

Samsung Electro-Mechanics to Shut Down HDI Production Unit in China

Samsung Electro-Mechanics to Shut Down HDI Production Unit in China

SEOUL, Dec. 13 (Korea Bizwire) — Samsung Electro-Mechanics Co., an electronic components maker affiliated with Samsung Electronics, said Thursday it will shut down one of its Chinese units that produces high density interconnect (HDI) substrates due to low profitability. Kunshan Samsung Electro-Mechanics Co. in Jiangsu, China, will halt production and sales, Samsung Electro-Mechanics said, adding [...]

Japan Threatens to Overtake S. Korea in China’s Cosmetics Market

Japan Threatens to Overtake S. Korea in China’s Cosmetics Market

SEOUL, Dec. 12 (Korea Bizwire) — Japan is threatening to overtake South Korea’s No. 1 status in China’s imported cosmetics market this year, industry data showed Thursday, mainly on the back of the growing popularity of low- to mid-priced “J-beauty” products. Japanese companies accounted for 25.2 percent of China’s imported cosmetics in the January-October period, [...]

S. Korean Businesses Leaving China Due to Trade Dispute, Rising Labor Costs

S. Korean Businesses Leaving China Due to Trade Dispute, Rising Labor Costs

SEOUL, Dec. 9 (Korea Bizwire) — South Korean businesses are increasingly leaving the Chinese market due to the prolonged U.S.-China trade dispute, rising labor costs, and a general economic downturn. With increased concern over export tariffs due to the U.S.-China trade dispute, not to mention the slumping economy, many South Korean businesses are considering whether [...]

S. Korean Cosmetics Brands Attract Discerning Chinese Consumers

S. Korean Cosmetics Brands Attract Discerning Chinese Consumers

SEOUL, Dec. 6 (Korea Bizwire) — As more Chinese consumers are taking an interest in the components contained in cosmetic products, South Korean cosmetic brands are infiltrating the Chinese market using their reputation for using ‘good recipes’. Venndata, a Chinese market research agency, reported that 45 percent of Chinese consumers were found to purchase cosmetics [...]

SK Joins Hands with Chinese Investment Firm to Create 1 tln Won Fund

SK Joins Hands with Chinese Investment Firm to Create 1 tln Won Fund

SEOUL, Dec. 3 (Korea Bizwire) – South Korean energy and telecom conglomerate SK Group plans to join hands with  Chinese private equity firm Hillhouse Capital Group to create a mutual fund worth 1 trillion won (US$843 million) for investment in the Chinese food industry. SK China, SK’s Chinese unit, held a board meeting recently and passed [...]

Pompeo Cites Samsung as Alternative to Chinese Tech Giants

Pompeo Cites Samsung as Alternative to Chinese Tech Giants

WASHINGTON, Dec. 2 (Korea Bizwire) — U.S. Secretary of State Mike Pompeo said Monday that Samsung is a “legitimate” substitute to Chinese companies in building 5G networks across the European Union. Pompeo made the case in an op-ed in Politico Europe ahead of an EU communications ministers meeting in Brussels on Tuesday. He argued that [...]