SEOUL, Jan. 23 (Korea Bizwire) — LG Display Co., a flat panel maker, said Tuesday its net profit slipped 94.7 percent in the fourth quarter from a year earlier, largely due to weak panel prices and a strong local currency. The company said in a regulatory filing that its net profit came to 43.6 billion [...]
Seoul, Jan. 22 (Korea Bizwire) — Samsung Electronics will take into consideration the recent minimum wage hike when negotiating the price of goods with small and medium-sized business partners. The electronics giant has reportedly decided to reflect this year’s wage hike in business deals with SMEs in an effort to share the increased financial burden. Business [...]
SEOUL, Jan. 19 (Korea Bizwire) – Employees of South Korea’s two major semiconductor manufacturers are set to receive big bonuses this month for their strong performance last year amid the global boom for chip industries, industry sources said Friday. Samsung Electronics Co. workers in the semiconductor sector will receive annual bonuses, called the Overall Performance Incentive, amounting to up to 50 percent of their annual salary, on Jan. 31, [...]
SEOUL, Jan. 18 (Korea Bizwire) – A senior executive of LG Electronics Inc. on Thursday dismissed U.S. President Donald Trump’s claim that South Korea is dumping washing machines into the United States. Dan Song, president of LG Electronics’ home appliance & air solution division, said there is no chance of dumping by South Korean companies, as the U.S. has been cracking down on any dumping by South Korean firms. “We do not have any room [...]
SEOUL, Jan. 16 (Korea Bizwire) – LG Electronics Inc. said Tuesday its latest energy-efficient dryer has gained popularity in South Korea in recent weeks. Four weeks after its launch, sales of the LG TROMM Dual Inverter Heatpump Dryer stood at more than three times that of the previous model, the company said. LG said more [...]
SEOUL, Jan. 15 (Korea Bizwire) – South Korean steelmaker PSCO said Monday its steel plant in Indonesia turned a profit after four years of operation, with accumulated sales exceeding 10 million tons. PT Krakatau POSCO, an integrated steel mill jointly set up by POSCO and Indonesia’s state-run steel firm Krakatau Steel, shifted to an operating profit of US$12 million last year after posting losses in the previous three years, POSCO said [...]
SEOUL, Jan. 12 (Korea Bizwire) – The number of regulatory measures enacted against South Korean exports is on the rise, menacing the lifeblood of the South Korean economy. According to the Ministry of Foreign Affairs on Friday, regulatory measures such as antidumping tariffs, countervailing duties and safeguards imposed on South Korea exports increased to 189 [...]
LAS VEGAS, Jan. 11 (Korea Bizwire) – LG Electronics Inc. will begin operation of its washing machine plant in Tennessee several months earlier than scheduled, a top company official said Wednesday, in an apparent move to better cope with possible U.S. safeguard measures. Jo Seong-jin, CEO of the South Korean tech giant, said the company had planned to begin the operation of the US$250 million plant in February 2019, but it [...]
SEOUL, Jan. 10 (Korea Bizwire) – Although growing semiconductor sales are powering record profits, the future of South Korea’s most famous conglomerate remains murky at best. In the face of the absence of the imprisoned Lee Jae-yong, who is seen as the de facto head of the Samsung group, and growing competition in the semiconductor industry [...]
SEOUL, Jan. 10 (Korea Bizwire) – A new report has found that female semiconductor workers in South Korea are nearly two and a half times more likely to develop leukemia than workers in other occupations. The worrying revelation comes as data released by the Korea Occupational Safety and Health Agency shows that female workers in the [...]