SEOUL, June 16 (Korea Bizwire) – Value Creators & Company (VCNC), the operator of ride-hailing service Tada, has decided to reduce its company payroll by half through intensive restructuring, as the company has been unable to find a new growth engine since the “Anti-Tada” bill was passed by the National Assembly in 2020. According to [...]
SEOUL, June 15 (Korea Bizwire) — South Korea’s first Five Guys burger restaurant will open in Gangnam, southern Seoul, later this month, its operator said Thursday. The two-story store with about 150 seats will open in the bustling commercial district near Gangnam Station on June 26, according to FG Korea Inc., a food arm of [...]
SEOUL, May 17 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, said it has signed an initial agreement with Saudi Arabian firm Beez Logistics as part of its efforts to expand its business in the Middle East. With the memorandum of understanding, CJ Logistics will share its logistics experience, technology and [...]
SEOUL, May 16 (Korea Bizwire) — Starbucks Coffee Korea, which experienced a slowdown in sales growth last year, is seeking new ventures to secure a fresh growth engine. The company held a board meeting in late March and revised its articles of association to include 65 additional business purposes, according to industry sources. Among the [...]
SEOUL, April 6 (Korea Bizwire) — Yanolja Cloud Pte., the tech affiliate of South Korean booking platform Yanolja Inc., said Thursday it has finalized a deal to acquire Oregon-based Innsoft Inc. for US$8.3 million in a bid to expand its hospitality solutions services in North America. Yanolja Cloud Pte. plans to launch a new line [...]
SEOUL, March 31 (Korea Bizwire) – Woowa Brothers Corp., operator of the popular food delivery app Baedal Minjok, said Friday it shifted to a net profit in 2022 from a year earlier on increased demand for food delivery services during the pandemic. The delivery app operator swung to a net profit of 275.8 billion won [...]
SEOUL, March 9 (Korea Bizwire) — South Korean logistics company Hanjin Transportation Co. said Wednesday it will launch a trial operation of cargo bikes to strengthen its eco-friendly transportation drive. Cargo bikes are electric-powered bikes designed to carry loads, particularly in areas that cannot be accessed by parcel delivery trucks. Hanjin’s cargo bike, made by [...]
SEOUL, Feb. 22 (Korea Bizwire) — Legoland Korea Resort is confident about its financial soundness and plans to invest around 100 billion won (US$76.7 million) over the next five years, an executive said Wednesday, as the theme park pushes for further growth in South Korea. “One of the many features of a theme park is [...]
SEOUL, Feb. 21 (Korea Bizwire) — POSCO International Corp., a South Korean commodities trader, said Tuesday it intends to take part in reconstruction projects in Ukraine after the war to help the country rebuild from the devastation. The trading unit under South Korea’s steel giant POSCO Holdings Inc. is the only Korean company maintaining a [...]
SEOUL, Feb. 21 (Korea Bizwire) — CJ Logistics Corp., a major South Korean logistics company, said Tuesday it has opened a representative office in Poland to strengthen its European business. CJ Logistics said it plans to designate its new office in the southwestern city of Wroclaw as a “strategic base” in Europe, given the city’s [...]