SEOUL, Oct. 12 (Korea Bizwire) – Hankook Tire Manufacturing Co., the world’s seventh-biggest tiremaker by sales, said Thursday it has begun supplying high-performance tires to Honda Motor Co.’s Accord sedan. The Korean carmaker has supplied original equipment (OE) tires to the Japanese carmaker’s models, such as the Civic sedan and the CR-V SUV. It added [...]
SEOUL, Oct. 12 (Korea Bizwire) – LG Electronics Inc. said Thursday it will kick off sales of the V30 smartphone in the United States this week and gradually expand the global release of the product to play a key role in revitalizing its mobile business. The South Korean tech giant said it will release the [...]
SEOUL, Sept. 29 (Korea Bizwire) – A U.S.-based semiconductor technology company filed a lawsuit against Samsung Electronics Co. claiming patent infringement, industry sources said Friday. According to the sources, Tessera Technologies Inc. and its affiliates claimed Samsung Electronics made use of some 24 patented items, covering a wide range of semiconductor processing, bonding and packaging technologies. The Samsung products involved in the alleged infringements include the Galaxy S6, S7 and [...]
SEOUL, Sept. 29 (Korea Bizwire) – Japanese tech giant Toshiba Corp. said Thursday it signed off on a deal to sell its memory business to a global consortium which includes South Korea’s SK hynix Inc. Toshiba earlier decided to start negotiations on selling its memory business to the consortium including participants from South Korea, the United States and Japan. The companies also include Bain Capital, [...]
SEOUL, Sept. 28 (Korea Bizwire) — SK hynix Inc. said Thursday it will build a new research and development (R&D) center with an investment of 200 billion won (US$ 174 million). South Korea’s No. 2 chipmaker said the center will be located in Icheon, 80 kilometers south of Seoul, which is also the home of [...]
SEOUL, Sept. 27 (Korea Bizwire) – South Korea’s No. 2 chipmaker SK hynixInc. said Wednesday its board of directors approved a plan to inject 4trillion won (US$3.5 billion) in a consortium to buy Japan’s Toshiba Corp.’s memory arm. The investment can allow the SK hynix to secure up to 15 percent stake in the Japanese firm’s memory unit. The Bain Capital-led consortium is in talks with Toshiba to finalize the deal estimated at 2 trillon yen ($18 billion). In a statement, SK hynix, a member of the consortium, said its participation in the [...]
SEOUL, Sept. 27 (Korea Bizwire) — LG Electronics Inc. said Wednesday it plans to spend 600 billion won (US$527 million) on renovating its aged kitchen appliances production lines in South Korea. First built in 1976, the factory located in Changwon, about 300 kilometers southeast of Seoul, currently produces small products, while demand for larger appliances [...]
SEJONG, Sept. 26 (Korea Bizwire) – South Korea’s antitrust watchdog said Tuesday that it has slapped a combined 1.78 billion-won (US$1.57 million) fine on Mercedes-Benz Korea and its dealerships for fixing labor costs for auto repairs. Mercedes-Benz Korea, the local unit and importer of German carmaker Daimler AG, allegedly suggested to eight dealerships fixing [...]
SEOUL, Sept. 26 (Korea Bizwire) – Samsung Heavy Industries Co, a major South Korean shipyard, said Tuesday that it has clinched a 1.1 billion-won (US$968 million) deal to build six container vessels. In a regulatory filing, Samsung Heavy said it would deliver the vessels by the end of 2019. The shipyard did not reveal the [...]
SEOUL, Sept. 22 (Korea Bizwire) – LG Electronics Inc. said Friday it will expand into the beauty appliance market in line with its strategy to diversify its business portfolio. The South Korean tech giant said it decided to move into the household business area as the industry is set to expand sharply down the road. [...]