The financial sector posted one of the best performances this year, and banks have begun full-scale job cuts offering massive severance pay for voluntary retirement in an attempt to slim down its workforce.
Cosmetics maker Amorepacific announced Tuesday it has invested 3 billion won ($2.7 million) in media start-up DMIL to expand its digital presence in the cosmetics market.
The 114 Information Service, the Korean directory inquiry service, is on the brink of disappearing as more people turn to their smartphones and the internet to look up phone numbers.
Naver and Kakao announced separately Thursday they have each received temporary approval from the ICT Ministry to operate mobile driver’s license services under regulatory sandbox conditions.
Naver launched a hybrid cloud service, Neurocloud, that establishes data racks inside a client’s data storage, or establishes a small data center from scratch.
Hana Financial Group launched its first digital insurance company, Hana Insurance, on Monday, in a bid to capitalize on the increasing demand for digital services in Korea. It will be the third online-only insurance company in Korea.