SEOUL, Sept. 20 (Korea Bizwire) - Kumho Tire Co. could survive if stakeholders of the beleaguered tiremaker agree to share the pain, the new head of the tiremaker’s top creditor bank said Wednesday, voicing an upbeat note about the tiremaker going forward. Lee Dong-gull, new governor of the state-run Korea Development Bank (KDB), however, told reporters that it was too early [...]
SEOUL, Sept. 20 (Korea Bizwire) – As Toshiba seems to have finally decided to sell its chip-making unit to a group including SK Hynix, attention is being paid to the motivation behind the South Korean chipmaker’s months-long battle to reach a deal with the Japanese conglomerate’s troubled memory business. After months of back and forth, Reuters [...]
SEOUL, Sept. 20 (Korea Bizwire) – Hankook Tire Co., South Korea’s leading tiremaker, ranked seventh in the global tire market last year in terms of revenue, and its smaller local rival Kumho Tire Co. took 14th, according to an industry report on Wednesday. Hankook Tire logged US$5 billion in sales last year, down 5.9 percent from a year earlier, according to the U.S.-based industry magazine TireBusiness. Its smaller local rival Kumho Tire Co. raked in sales of $2.4 billion last [...]
SEOUL, Sept. 19 (Korea Bizwire) – The local unit of U.S.-based multinational conglomerate 3M said Tuesday it will invest in the health and safety business as it attempts to find a new growth engine in the South Korean market. Celebrating the 40th anniversary of its foundation here, 3M Korea said it will seek new business [...]
SEOUL, Sept. 19 (Korea Bizwire) – The South Korean government has warned one of the country’s major mobile networks over its alleged subsidies to boost sales of Samsung’s latest smartphone, the Galaxy Note 8, a marketing practice prohibited under current legislation. According to the Korea Communications Commission on Monday, the government branch which controls mobile phone [...]
SEOUL, Sept 19 (Korea Bizwire) — Hyundai Merchant Marine Co., South Korea’s top shipping firm, is seeing its business performance improve sharply on the back of reduced costs and increased profit, its chief said Tuesday. “Compared to last year, our performance is improving significantly, based on a virtuous cycle of reduced costs and expanded profit,” [...]
SEOUL, Sept. 18 (Korea Bizwire) — Major South Korean manufacturers of semiconductors and displays plan to invest a combined 51.9 trillion won (US$45.8 billion) in the domestic market by 2024 to help stimulate the local economy and create jobs, the government said Monday. Senior executives from major manufacturers announced their investment plans during a meeting [...]
SEOUL, Sept. 18 (Korea Bizwire) — LG Electronics’ new refrigerator commercial with an interesting twist has been proven a success on social media, according to the electronics giant on Sunday. The South Korean consumer electronics company teamed up with the London Vegetable Orchestra for its latest commercial targeting social media, which has been watched over [...]
SEOUL, Sept. 18 (Korea Bizwire) — South Korea’s top two chipmakers — Samsung Electronics Co. and SK hynix Inc. — are set to see their combined annual sales exceed 100 trillion won (US$88.3 billion) this year on the back of an industry boom, industry sources said Monday. The outlook came as Samsung and SK hynix, [...]
TAMPERE, Finland, Sept. 15 (Yonhap) – South Korea’s Gyeonggi Province said on Friday that Finnish drilling machine specialist Robit Plc. has agreed to invest US$10 million in a factory park in the province. Governor Nam Kyung-pil and Robit Chairman Harri Sjoholm signed a memorandum of understanding at the company’s headquarters in Tampere, under which the [...]