SEOUL, May 29 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s largest auto parts maker by sales, has emerged as a key supplier of General Motors Co. after it secured a US$1.1 billion deal to provide auto parts for eight years, the company announced Tuesday. The Detroit-based carmaker recently picked Hyundai Mobis as one of [...]
SEOUL, May 15 (Korea Bizwire) — South Korea’s shipbuilding industry is showing signs of recovery after years of struggling with the global downturn, a senior financial regulator said Tuesday. Yoo Kwang-yeol, first senior deputy governor of the Financial Supervisory Service (FSS), urged shipbuilders to turn to high-end vessels, such as very large crude carriers, for [...]
SEOUL, May 13 (Korea Bizwire) — A number of firms are making inquiries about the now-shuttered joint industrial complex in North Korea’s border city of Kaesong, industry sources said Sunday, as the two Koreas move to implement a set of agreements signed during their leaders’ historic summit last month. According to the insiders from a [...]
SEOUL, May 13 (Korea Bizwire) — GM Korea Co. aims to return to profit next year as the South Korean unit of General Motors Co. expects investment in new vehicles and reduced debts will help improve its financial status, the company said Saturday. In the four years through 2017, GM Korea posted more than 3.134 [...]
SEOUL, Apr. 30 (Korea Bizwire) — Samsung Display has adopted a timer for meetings as a 52-hour work week is set to take effect at the company next month. The move comes as part of the company’s efforts to follow the country’s push towards a ‘work smart’ culture, and will see meetings end after one or [...]
SEOUL, Apr. 30 (Korea Bizwire) — SK Lubricants Co., a unit of the country’s top oil refiner SK Innovation Co., is seeking to beef up its overseas presence through joint ventures (JVs) with global refiners, industry sources said Sunday. SK Lubricants is eying JVs with global players to build plants in the North American region, [...]
SEOUL, April 27 (Korea Bizwire) – Hyundai Steel Co., South Korea’s second-biggest steelmaker by sales, said Friday that its first-quarter net profit plunged 48.2 percent from a year earlier due to a base effect. Net profit for the three months ending March 31 came to 177 billion won (US$164.7 million), compared with a net profit of 341.8 billion won a year earlier, the company said in a statement. The company said [...]
SEOUL, April 26 (Korea Bizwire) – Doosan Heavy Industries Co., South Korea’s top power equipment maker, said Thursday its first-quarter profit fell 38 percent from a year earlier largely due to foreign exchange loss. Net profit reached 23.1 billion won (US$21.4 million) on a consolidated basis in the January-March period, compared with 37.4 billion won a year earlier, the company said in a regulatory filing. The company said foreign exchange loss and discontinued operation [...]
SEOUL, April 26 (Korea Bizwire) – Hyundai Motor Co., South Korea’s biggest carmaker by sales, said Thursday its first-quarter net profit plunged 48 percent on the strong won and weak sales in two major markets. Net profit for the three months ending March 31 fell to 731.6 billion won (US$678 million) from 1.406 trillion won a year earlier, the company said in a statement. “The net result was affected by the won’s strength against the [...]
SEOUL, April 26 (Korea Bizwire) – Hyundai Mobis Co., South Korea’s biggest auto parts maker by sales, on Thursday outlined its growth plans in line with its parent Hyundai Motor Group’s broad governance restructuring program. The move comes after Hyundai Motor Group announced last month that auto parts supplier Hyundai Mobis will spin off its [...]