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Record High KOSPI Earnings Shed Light on Economic Imbalance

Record High KOSPI Earnings Shed Light on Economic Imbalance

SEOUL, Nov. 17 (Korea Bizwire) – Despite record KOSPI earnings, only a small number of conglomerates have reported significant increases in profits this year. According to reports from the Korea Exchange, the accumulated net earnings of 525 KOSPI-listed companies during the first three quarters were estimated to be around 92.5 trillion won, up 34.2 percent from [...]

Tech Meets Beauty to Create Smart Skin Solutions

Tech Meets Beauty to Create Smart Skin Solutions

SEOUL, Nov. 10 (Korea Bizwire) — Kim Na-yul, a 38-year-old PR manager in Seoul, regularly sees dermatologists to get “intensive care” to erase dark spots and shrink the pores on her nose and cheeks. “After I turned 30, I started buying more expensive creams and essences. And in recent years, I decided to get help [...]

Chaebol Rankings Seesaw Over Two Decades

Chaebol Rankings Seesaw Over Two Decades

SEOUL, Nov. 1 (Korea Bizwire) — Nearly two-thirds of South Korea’s top 30 conglomerates have been dissolved or dropped out of the standings since the 1997 Asian financial crisis, a market tracker said Wednesday. According to corporate tracker CEO Score, 19 family-controlled conglomerates, called chaebol here, disappeared altogether from the list with the remainder maintaining [...]

Samsung, LG to Deal Jointly with U.S. Washer Safeguard Probe

Samsung, LG to Deal Jointly with U.S. Washer Safeguard Probe

SEOUL, Sept. 7 (Korea Bizwire) — South Korean home appliance giants Samsung Electronics Co. and LG Electronics Inc. will work together to deal with a U.S. safeguard probe of their washing machines, sources said Thursday. In June, the U.S. government started a safeguard investigation into foreign washers, mostly made by South Korean companies, at the [...]

Samsung, LG Sued Over Digital TV Technology in U.S.

Samsung, LG Sued Over Digital TV Technology in U.S.

SEOUL, Aug. 24 (Korea Bizwire) — South Korean electronics giants Samsung Electronics Co. and LG Electronics Inc. have been sued in the United States over alleged collusion concerning digital television broadcasting technology, industry sources said Thursday. Chinese home appliance maker Haier Group Co. recently filed a lawsuit with a federal court in New York, accusing [...]

Seoul’s Seocho District to Open Artificial Intelligence Research Center in October

Seoul’s Seocho District to Open Artificial Intelligence Research Center in October

SEOUL, Aug. 21 (Korea Bizwire) – News broke on August 20 that an R&D center devoted to artificial intelligence (AI) research will open its doors this coming October in Seoul’s Seocho District. The facility will be housed on four floors at the Korean Federation of Teachers’ Associations building located in the Umyeon neighborhood. Major players [...]

Samsung, LG Set to Spend Record Amount on R&D This Year

Samsung, LG Set to Spend Record Amount on R&D This Year

SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major electronics firms — Samsung Electronics Co. and LG Electronics Inc. — are expected to allocate a record-high investment to research and development projects this year, industry watchers said Friday. According to the sources, Samsung Electronics invested 7.9 trillion won (US$6.9 billion) in research projects over the [...]