With all-in-one growth solution, Datarize collects W11.5 billion in series A funding

Pernod Ricard Korea’s new “Time Well Spent” campaign will solidify its position as a market leader in the local whiskey market, which is constantly expanding, the liquor firm said Wednesday.  According to Pernod Ricard Korea’s marketing director Kim Kyung-yeon, the domestic imported whiskey market made 58 percent growth compared to 2019. “With increased public interest in whiskey, high-end whiskey categories and the malt whiskey saw significant growth -&ndash

The prolonged lockdown in the Chinese city of Xi'an will have minimal impact on the performance of Samsung Electronics Co., which has a chip fabrication complex there, analysts said Wednesday. Samsung, the world's largest memory chip maker, temporarily adjusted operations at its NAND flash chips manufacturing base in the city late last month, following the city's draconian restrictions imposed on Dec. 22, banning its 13 million citizens from venturing out and doing nonessential activities, to s

LG Electronics said Wednesday it has supplied its premium in-car infotainment system to be featured in the 2022 Mercedes-Benz EQS full-electric luxury sedan. LG’s system combines three displays – instrument cluster display, central information display and co-driver display – into a single, panoramic screen that stretches across the entire width of the car’s dashboard. Thanks to the use of a plastic organic light-emitting diode display, the South Korean tech giant said,

South Korean e-commerce giant Coupang said Wednesday it has exclusively launched the product lines of Nitori, Japan’s largest furniture and household goods brand. According to the company, Coupang will directly import Nitori products so that customers in Korea can conveniently purchase the brand’s items. Celebrating the launch, Coupang presents a limited-time offer from Wednesday to Friday. Any Coupang customer can receive four types of discount coupons -- discounts of 3,000 won ($

GWANGJU -- The chief of Hyundai Development Co. apologized Wednesday over the collapse of a facade of a high-rise apartment building under construction, which has left six workers still missing. The exterior wall of the apartment building in the southwestern city of Gwangju crumbled down at around 3:46 p.m. Tuesday, with at least one person injured and about 10 vehicles buried under the rubble. A total of 394 people were working at the scene of the accident, but six of them were unaccounted fo

Baek recognized for his capabilities to stabilize the organization and set the right strategy for bolstering business competitiveness

South Korea's output in the information and communication technology (ICT) industry rose 24 percent in 2021 from a year earlier to reach an all-time high, data showed Wednesday. The record-high output of $227.6 billion comes on the back of solid global demand for chips, displays and rechargeable batteries, according to the data compiled by the Ministry of Science and ICT. Imports of such goods rose 19.9 percent on-year to $135 billion, resulting in a trade surplus of $92.6 billion last year.

South Korean budget carrier Air Premia Co. said Wednesday it has opened cargo flights to Vietnam to ride out the prolonged COVID-19 pandemic. It is Air Premia's second cargo-only international route after the carrier began to offer cargo flights to Singapore last month. The company said it will consider starting passenger flights on the routes depending on the condition of the pandemic. In November, the carrier partnered with French air cargo services agent ESG Group to offset low demand in t

South Korean battery maker LG Energy Solution Ltd. has signed an initial contract to purchase 700,000 dry metric tons of lithium ore concentrate from an Australian miner, a document showed Wednesday, a deal that could help LG secure a supply of lithium-ion battery materials. A disclosure document posted by Liontown Resources Ltd. said it will supply the lithium spodumene concentrate to LG Energy Solution under a five-year offtake agreement starting 2024, with a potential extension for another f

South Korea's biotech company ABL Bio Inc. said Wednesday it has entered a global license agreement worth $1.06 billion with pharmaceutical giant Sanofi to develop and commercialize an antibody candidate to treat Parkinson's disease. ABL301 is a preclinical antibody therapeutic under development as a potential treatment of synucleinopathy, including Parkinson's disease. Under the agreement, ABL will receive $75 million in upfront payments and is eligible to receive up to $985 million based on

CU, South Korea's top convenience store chain, said Thursday it has established its 50th outlet in Malaysia as part of its overseas push. The opening comes nine months after CU set up its first outlet at a shopping mall in a middle-class neighborhood in the Malaysian capital of Kuala Lumpur in a tie-up with a Malaysian firm. In October 2020, BGF Retail Co., the operator of CU, signed a brand licensing deal with Mynews Holdings, the No. 2 convenience store chain in the Southeast Asian country.

Zara, the global fast-fashion clothing retailer, said on Tuesday that it has rolled out a kids collection of modern hanbok exclusively for the Korean market. The collection was unveiled ahead of the Lunar New Year holiday that kicks off later this month. It includes durumagi-inspired coats, vests, dresses, norigae or decorative pendants, lucky pouches, socks and shoes. The collection is available for children aged six months up to five years, the company said. “The modern reinterpretatio

Market valuation estimates of local digital platforms that promote individual trading of secondhand products have been on the rise with traditional retailers and even banks injecting large investments in hopes of them becoming the next Coupang and Market Kurly. Some market insiders say that valuation of Danggeun Market, the nation’s biggest secondhand trading app by transaction volume, is estimated at 3 trillion won ($2.5 billion). The figure, though based on mere estimation, surpasses

Samsung needs ‘killer’ foldable content to disrupt Apple’s ecosystem