SEOUL, May 11 (Korea Bizwire) — South Korean retail giant Lotte said Friday it has decided to sell one of its discount store units in China to a local retailer in a major step toward withdrawing from the world’s second-largest economy. Lotte Shopping Holding Hong Kong Co. will sell 100 percent of its stake in [...]
SEOUL, May 7 (Korea Bizwire) — After recording a market share of 0 percent in China’s smartphone market in the fourth quarter of last year, a recent report has shown that Samsung Electronics barely broke the 1 percent mark in the first quarter of this year. According to Street Analytics, a market research firm, Samsung [...]
SEOUL, May 4 (Korea Bizwire) — With food-related online purchases on the rise thanks to mobile delivery apps, the total volume for online shopping saw record-breaking sales in March totaling 9 trillion won. The first quarter figures for online shopping consumers from China appeared to be somewhat slower due to the lingering aftermath of the [...]
SEOUL, May 3 (Korea Bizwire) — Samsung Electronics Vice Chairman Lee Jae-yong’s Wednesday visit to the “Silicon Valley” of China, the special economic zone of Shenzhen in Guangdong Province, has promoted speculation on the visit’s purpose. Some say that Lee may have a specific outcome in mind as his entourage included upper-management officials overlooking Samsung’s [...]
SHANGHAI, China, May 3 (Korea Bizwire) — Early in this morning (April 22nd), runners from all over the country and even around the world gathered together here at the foot of the Oriental Pearl TV Tower in Lujiazui, Pudong. They came for the event of the 2018 Bright Dairy Change U · Shanghai International Half [...]
SEOUL, May 2 (Korea Bizwire) — E-Mart Inc., South Korea’s largest discount store chain by sales, is set to sign an initial agreement with Dutch food retailer SPAR International, a company official said Wednesday, in a move to boost its presence in China. E-Mart is scheduled to sign a memorandum of understanding (MOU) with SPAR [...]
SEOUL, Apr. 27 (Korea Bizwire) — Sales and profits at Hyundai Motor fell in the first quarter of the year in the midst of an unfavorable global environment. The Korean carmaker hopes to boost its sales figures by releasing a number of new cars and SUVs in the second quarter. Hyundai released its earnings for [...]
SEOUL, Apr. 24 (Korea Bizwire) — Hyundai Motor Co. has sold more sport-utility vehicles (SUVs) in China in the first quarter of this year, with such vehicles accounting for 40 percent all sales in the large market, auto industry data showed Tuesday. Hyundai sold 67,167 units of its four SUV models from January through March, [...]
SEOUL, Apr. 23 (Korea Bizwire) — The number of foreigners who visited South Korea rose 10.7 percent on-year in March, ending 12 straight months of decline, data showed Monday, as the government pushes to diversify the country’s tourist portfolio in the face of a plunge in the number of Chinese visitors. The total number of [...]
SEOUL, Apr. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday that it has decided to invest 239.4 billion won (US$224.8 million) in two separate joint ventures with Huayou Cobalt Co., a Chinese supplier of the mineral. The deal underscored LG Chem’s efforts to secure a stable supply of cobalt, [...]