SEOUL, July 7 (Korea Bizwire) – LG Electronics Inc. said Friday its second-quarter operating profit is estimated at 664.1 billion won (US$574.5 million), posting a weaker-than-expected performance apparently on sluggish smartphone sales despite a robust performance of its home appliance business. The operating profit for the April-June period marks a 13.6-percent jump from the 584.6 [...]
SEOUL, Jul. 7 (Korea Bizwire) — When it rains, it pours, as labor disputes are putting increased pressure on the automobile manufacturing and shipbuilding industries already sagging underneath the weight of slowing sales. The industry giants currently involved in labor negotiations include Hyundai Motor, Kia Motors and GM Korea, while Hyundai Heavy Industries, the world’s largest [...]
SEOUL, Jul. 7 (Korea Bizwire) — Cash-strapped Daewoo Shipbuilding & Marine Engineering Co. is expected to secure at least 800 billion won (US$692 million) in cash through additional debt-for-equity swaps, industry sources said Friday. According to the sources, Daewoo Shipbuilding is planning to start the process of swapping debts for equity with bondholders next month [...]
SEOUL, July 6 (Korea Bizwire) – Ulsan’s shipbuilding career support center recently marked its successful first year, having helped tens of thousands of jobseekers find employment in the field, center officials said on Wednesday. According to the career center, as of last month, employment benefits and job seeking support had been provided more than 71,000 times [...]
SEOUL, Jul. 6 (Korea Bizwire) — Active-matrix organic light-emitting diode (AMOLED) screens are expected to rise as mainstream panels for the global smartphone industry within four years, industry watchers said Thursday, beating thin-film-transistor liquid-crystal displays (TFT-LCD). According to the data compiled by industry tracker TrendForce, AMOLED panels took up 23.8 percent of the global market [...]
SEOUL, Jul. 5 (Korea Bizwire) — A report that analyzed the major sources of air pollution was released yesterday by the Korea Institute of Public Finance. Despite the commonly held belief that diesel cars are the top producer of fine particulate matter (PM2.5), the report refutes that notion. In fact, the data indicated that 47.91 percent [...]
SEOUL, Jul. 5 (Korea Bizwire) — Hyundai Heavy Industries Co., a major shipyard here, said Wednesday that it has signed a memorandum of understanding with Saudi Aramco and others to build a plant in Saudi Arabia that will make engines used for ships and power generation. The Hyundai Heavy-Aramco consortium will spend US$400 million to [...]
SEOUL, Jul. 5 (Korea Bizwire) — South Korean manufacturers’ business sentiment reached the highest in over two years, but pessimism still outweighed optimism overall, a survey showed Wednesday. A survey of some 2,200 manufacturing firms put the business sentiment index (BSI) at 94 in the third quarter, up five points from the second quarter but [...]
SEOUL, July 4 (Korea Bizwire) – South Korean chipmaker SK hynix Inc., which recently joined a global consortium to purchase Japan-based Toshiba Corp.’s memory business, on Tuesday declined to clarify whether the company can exercise voting rights in the newly purchased business. “The negotiations are still under progress, and details are open to change,” an [...]
SEOUL, Jul. 4 (Korea Bizwire) — South Korea’s two leading battery manufacturers are racing to develop a new type of smartphone power source that can significantly improve safety, industry sources said Tuesday. According to industry watchers, Samsung SDI Co. and LG Chem Ltd. are currently seeking to commercialize solid-state batteries, which use solid-type electrolytes. The [...]