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Samsung SDI to Supply Batteries for New VW e-Golf: Source

Samsung SDI to Supply Batteries for New VW e-Golf: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s Samsung SDI Co. will supply its electric-vehicle batteries to Volkswagen’s new 2017 e-Golf, an industry source said Wednesday. “The new e-Golf equipped with a Samsung battery will go on sale in global markets this spring,” the source told Yonhap News Agency. Samsung SDI and LG Chem Ltd. [...]

S. Korean Firm Shuts Down Battery Plant in China: Source

S. Korean Firm Shuts Down Battery Plant in China: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s SK Innovation Co. halted operation of its battery packing plant in China in January as its business suffered in the face of Beijing’s move to stop a subsidy to electric vehicle makers that use parts from non-Chinese manufacturers, sources said Wednesday. Orders for the joint venture between [...]

Kakao’s Internet Bank to Get Final Approval on April 5

Kakao’s Internet Bank to Get Final Approval on April 5

SEOUL, March 30 (Korea Bizwire) – The Internet bank of Kakao Corp., South Korea’s dominant chat app, is expected to win a final regulatory approval early next month, an industry source said Thursday, clearing the final hurdle for Kakao to launch the nation’s second Internet bank.  The Financial Services Commission (FSC) will hold a meeting [...]

Global Auto-Parts Makers to Promote Products at Seoul Motor Show

Global Auto-Parts Makers to Promote Products at Seoul Motor Show

SEOUL, March 29 (Korea Bizwire) – Global auto parts companies will participate in the Seoul Motor Show to promote their products and expand business ties with their South Korean counterparts, the exhibition’s organizing committee said Wednesday.  Auto parts makers from Germany, Mexico, Columbia, Israel and the Czech Republic will join the biennial motor show in [...]

Hyundai i20 Rated Best in Class in Germany

Hyundai i20 Rated Best in Class in Germany

SEOUL, March 29 (Korea Bizwire) – A leading German car magazine has recently judged Hyundai Motor Co.’s i20 hatchback as the best car in its class beating rivals in comfort, performance and interior space. ‘Auto Zeitung,’ one of Germany’s most respected motoring magazines, compared the Hyundai i20 to four of its 1.0-liter turbo-charged competitors — [...]

POSCO to Offer Rewards for Second Child

POSCO to Offer Rewards for Second Child

SEOUL, March 29 (Korea Bizwire) – South Korean steelmaker POSCO is introducing new comprehensive birth encouragement policies that will help pregnant employees from pregnancy through to child care. The company’s labor union said yesterday that pregnant employees will receive support through all stages of pregnancy, from childbirth to babysitting, allowing employees to have a healthy [...]

How CJ Became Ousted President’s Least Favorite Conglomerate With its Liberal Content

How CJ Became Ousted President’s Least Favorite Conglomerate With its Liberal Content

SEOUL, March 29 (Korea Bizwire) – The Park Geun-hye administration’s rule, which collapsed with its leader’s impeachment, was not the best of times for CJ, a major food and media conglomerate in South Korea. A year and half after President Park took office in 2013, CJ Vice Chairwoman Lee Mi-kyung (who was the de facto [...]

Corporate Watchdog Slaps 1.8 bln-won Fine on Lotte, Shilla Duty-free Shops

Corporate Watchdog Slaps 1.8 bln-won Fine on Lotte, Shilla Duty-free Shops

SEJONG, March 29 (Korea Bizwire) – South Korea’s corporate watchdog said Wednesday that it has imposed a combined 1.8 billion-won (US$1.6 million) fine on two duty-free shop operators — Lotte and Shilla — for colluding on discount events. Hotel Lotte Co., the operator of the country’s biggest Lotte Duty Free, and Hotel Shilla Co., the [...]