competition Archives | Be Korea-savvy
Executive Promotion Odds at Top 100 Companies: Fierce Competition and Shifting Trends

Executive Promotion Odds at Top 100 Companies: Fierce Competition and Shifting Trends

SEOUL, Nov. 28 (Korea Bizwire) – Recent research shows that only 0.8 percent of regular employees at the top 100 listed companies have a chance of reaching executive positions. The Korea CXO Research Institute states that, based on this year’s revenue, the likelihood of promotion to executive roles for these employees is 0.83 percent, which is [...]

Competition Heats Up Among Large Discount Stores to Attract Price-Sensitive Consumers

Competition Heats Up Among Large Discount Stores to Attract Price-Sensitive Consumers

SEOUL, Oct. 17 (Korea Bizwire) – Amidst prolonged high inflation, large discount stores are fiercely competing to attract price-sensitive consumers who are eager to save even a penny. According to the retail industry, E-Mart has been organizing a group purchasing event called ‘Order Pick’ through the E-Mart app since April. ‘Order Pick,’ a term formed by combining [...]

Athletes Race in Seokchon Lake, Run Up Lotte World Tower

Athletes Race in Seokchon Lake, Run Up Lotte World Tower

SEOUL, July 17 (Korea Bizwire) — Some 800 competitors participated in the 2023 Lotte Aquathlon competition held on Sunday. The sports competition involves swimming 1.5 kilometers across Seokchon Lake in southeastern Seoul and running up 2,917 stairs to reach the top of the 123-story Lotte World Tower, South Korea’s tallest skyscraper. Initiated by Lotte Property [...]

Korean Pianist Lee Hyuk Wins Top Prize at Long-Thibaud International Competition

Korean Pianist Lee Hyuk Wins Top Prize at Long-Thibaud International Competition

SEOUL, Nov. 14 (Korea Bizwire) — Korean pianist Lee Hyuk has won the first prize at the Long-Thibaud International Competition held in France, along with Japanese pianist Masaya Kamei, according to its organizer. The 22-year-old played Sergei Prokofiev’s Piano Concerto No. 2 in the final contest that closed at Chatelet Theater in Paris on Sunday [...]

E-commerce Operators Ignore Losses in Cutthroat Competition for Market Share

E-commerce Operators Ignore Losses in Cutthroat Competition for Market Share

SEOUL, Nov. 29 (Korea Bizwire) — Competition is heating up among South Korean e-commerce operators to get the upper hand in the market. Regardless of losses, they are making aggressive investments while focusing on increasing their market share. Investment has primarily focused on logistics centers and marketing. E-commerce giant Coupang Inc., which recently raised funds [...]

Competition Heating Up as Insurance Companies Square Off Against Internet Platforms: Study

Competition Heating Up as Insurance Companies Square Off Against Internet Platforms: Study

SEOUL, Aug. 5 (Korea Bizwire) — To become a winner in the future insurance market, traditional insurance companies and big tech firms are competing fiercely with a focus on dominating the service ecosystem in the health and mobility areas. In a report released on Wednesday, the Korea Insurance Research Institute said that the competitive edge [...]

Online Fashion Malls Growing at a Blistering Pace amid Stiffer Competition

Online Fashion Malls Growing at a Blistering Pace amid Stiffer Competition

SEOUL, July 27 (Korea Bizwire) — As the size of South Korea’s online fashion market expands, competition is heating up among major players to get the upper hand. Most of the nation’s online retailers specializing in fashion registered more than double-digit growth in transaction volume in the first half of this year, according to industry [...]