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Japanese apparel maker shuts down shops in downtown Seoul Uniqlo is closing down stores in Seoul, which leads to speculation that the Japanese clothing retailer reduces its operation in Korea amid Korean consumers’ boycott of made-in-Japan products. Uniqlo recently said that...

Clothing retailer sees its July sales dip 26% Uniqlo Korea issued an official apology in its Web site on July 22, but Koreans show no signs of wrapping up their boycott of Japan’s largest clothing brand. In fact, a mounting number...

Hanwha Robotics joins hands with Wipro Infra Hanwha Robotics recently signed a memorandum of understanding with Wipro Infrastructure Engineering to set up a sales and operations office in the world’s second-most populous country. Hanwha Robotics is the robot business division of...

Netizens keep criticizing Japanese casual wear maker In Korea, people are canceling their trips to Japan and boycotting Japanese products ranging from cigarettes, beers, pens, cameras, and movies to automobiles. The nationwide boycott of made-in-Japan products and services started early this...

Top e-commerce operator under investigation Fair Trade Commission (FTC) officials recently visited Coupang’s head office in Seoul to probe the country’s leading e-commerce operator on suspicion of unfair trade practices. The field inspection came after a few companies cried foul at...

Chairman Lee Kun-hee loses $3.8 billion in a year The lingering slump in the global semiconductor business chipped away at the fortune of Samsung Group Chairman Lee Kun-hee by $3.8 billion over the past year. However, his net worth of $16.8...

Kim Sung-joo still works as chief visionary officer Just a few years ago, Sungjoo Group owner Kim Sung-joo was a regular in the media as chief of the fashion group, which encompasses the MCM brand, and also as head of...

Private equity fund strives to exit outdoor apparel maker As far as investing is concerned, even most seasoned professionals are bound to make mistakes. And Korea’s most prominent investors of MBK Partners seems to be no exception. Although the country’s largest...

Korean steelmaker unlikely to shell out big bucks in India The Indian government keeps asking Korea’s leading steelmaker POSCO to build an integrated steel plant there. In response, POSCO executives recently met with Indian officials. POSCO claims that it has...

Political dispute may affect M&A deal Earlier this year, Hyundai Heavy Industries (HHI) agreed to buy a 55.7-percent stake in Daewoo Shipbuilding & Marine Engineering (DSME) at $1.7 billion from the Korea Development Bank. The deal involving the world’s two largest...