SEOUL, July 18 (Korea Bizwire) – Hyundai Asan Corp. on Tuesday asked the government to give permission to visit North Korea next month to mark the anniversary of the death of its former chairman, the company said. The memorial service for Chung Mong-hun, who spearheaded the now-suspended inter-Korean tour program in the North, had been [...]
SEOUL, July 18 (Korea Bizwire) – The board of Kumho Industrial Co. on Tuesday offered to allow Qingdao Doublestar Co. the use of South Korea’s No. 2 tiremaker’s name for 12 and a half years as part of ongoing negotiations to finalize the sale of the company. Kumho Industrial holds the right to the brand [...]
SEOUL, July 18 (Korea Bizwire) – Sales of the Galaxy S8 hovered above that of its predecessor, the Galaxy S7, Samsung Electronics Co.’s mobile chief has said. Koh Dong-jin, who heads Samsung’s mobile business, reportedly said the sales of the Galaxy S8 were 15 percent higher than its predecessor so far during his meeting with [...]
SEOUL, Jul. 18 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it expanded production of new high-performance dynamic random-access memory (DRAM) chips that can be utilized for artificial intelligence (AI) systems. The South Korean tech giant said it kicked off full-fledged mass production of the industry’s first high-performance 8GB High Bandwidth Memory 2 (HBM) DRAM [...]
SEOUL, Jul. 18 (Korea Bizwire) — Samsung Heavy Industries Co. is seeking to cut its workforce and have employees return part of their salaries in order to cut costs, industry sources said Tuesday. Last year, the major South Korean shipyard unveiled a self-restructuring program that centers on cutting the workforce and having executives return part [...]
SEOUL, Jul. 18 (Korea Bizwire) – LG Display Co. topped the world’s market for large-sized displays for automobiles both in terms of shipment and sales, data showed Tuesday, expanding gap with Japanese and Taiwanese rivals. According to the data compiled by IHS Markit, LG Display took up 16.8 percent of the market for automobile display [...]
SEOUL, July 17 (Korea Bizwire) – Hyundai Motor Co. said Monday it will strengthen door-to-door charging services for its Ioniq electric vehicles (EVs), a move to promote consumer acceptance of electric vehicles. Hyundai Motor has recently increased the number of service vehicles which offer door-to-door charging services to 60 from 10 across the country. It formerly [...]
SEOUL, Jul. 16 (Korea Bizwire) — The United States has left Korean companies in a state of anxious premonition as it has officially asked the Korean government to form a joint committee for the purpose of revising the current free trade agreement (FTA) between the two nations. For the automobile industry, the issue that looms large is [...]
SEOUL, Jul. 14 (Korea Bizwire) — Already unpopular due to their alleged propensity to generate air pollutant particles, a rumored “diesel fuel tax” that may come into effect in the future has customers gravitating away from diesel cars. A spokesperson for the Korean Automobile Manufacturing Association gave a number of reasons for the decreasing popularity of diesel [...]
SEOUL, July 13 (Korea Bizwire) – Unionized workers at Hyundai Motor Co. will vote on whether to stage a walkout as they press for more wages and benefits, the company and its union said Thursday. The two-day vote comes as the country’s largest carmaker by sales struggles with slowing sales in major markets such as [...]