SEOUL, Feb. 22 (Korea Bizwire) –SK On, a relative newcomer in the battery industry, has announced a novel approach to employee compensation by offering virtual stocks to employees equivalent to 30% of their annual salaries. This move comes in the wake of the company facing a challenging financial year with zero performance bonuses allocated, stirring [...]
SEOUL, Feb. 4 (Korea Bizwire) – GM Korea Co., the South Korean unit of General Motors Co., said Sunday it will launch four new vehicles, including two electric models, this year to strengthen its presence in the domestic market. GM Korea plans to introduce two pure electric models — the Cadillac Lyriq SUV and the [...]
LAS VEGAS, Jan. 10 (Korea Bizwire) – LG Electronics Inc.’s chief executive said Wednesday the company’s annual investment will reach 10 trillion won (US$7.57 billion) this year in a bid to expand its business boundaries and secure future growth momentum. “Despite protracted macroeconomic uncertainties, we are committed to maximizing future growth by increasing investment based [...]
LAS VEGAS, Jan. 7 (Korea Bizwire) – LG Electronics Inc. on Sunday announced its upcoming showcase of “Smart Life Solutions,” a cutting-edge lineup centered around artificial intelligence, at the upcoming CES 2024 tech show. With a theme of “Reinvent your future,” the South Korean consumer electronics giant is set to highlight connectivity and customization across [...]
LAS VEGAS, Jan. 7 (Korea Bizwire) – Samsung Electronics Co. on Sunday unveiled its ambitious vision for the future of technology, showcasing an array of artificial intelligence-powered innovations and a commitment to sustainability at the upcoming CES 2024. The world’s largest smartphone and memory chip manufacturer will run a 3,934-square-meter showroom at the Las Vegas [...]
SEOUL, Jan. 8 (Korea Bizwire) –SK Telecom announced on April 7 that it is adopting an Artificial Intelligence (AI) decision-making governance system to ensure the reliability and safety of its AI technology. To achieve this, the company is setting up specific AI governance standards, establishing dedicated organizational structures and roles, and developing relevant processes. In [...]
SEOUL, Dec. 12 (Korea Bizwire) – In a strategic move to bolster its efforts to uncover groundbreaking technology and business opportunities, Samsung Electronics recently announced a significant organizational restructure, including the establishment of a new Business Development Group within its Digital Experience (DX) division. The newly formed Business Development Group will serve as a central hub [...]
SEOUL, Dec. 11 (Korea Bizwire) – In the midst of a prolonged global economic downturn, South Korean companies are tightening their belts as they prepare next year’s business plans, focusing on cost-saving initiatives and voluntary retirements. SK Group recently adopted a cost-effective approach by organizing dinner meetings at company cafeterias instead of dining out, reducing expenses [...]
SEOUL, Dec. 4 (Korea Bizwire) — About half of big firms in South Korea remain undecided on their investment plans for next year, according to a survey released Monday, an indication of how many companies are going through economic uncertainties. In the survey conducted by polling agency Mono Research on the leading 500 companies in [...]
SEOUL, Oct. 11 (Korea Bizwire) – A unit of U.S. retail web giant Amazon.com Inc. plans to invest 7.85 trillion won (US$5.85 billion) in South Korea’s cloud computing infrastructure by 2027, company officials said Wednesday. The plan came as competition is intensifying among Amazon and other cloud computing providers in South Korea. Amazon launched its [...]