SEOUL, May 17 (Korea Bizwire) – South Korean shipbuilders and related firms sharply reduced the size of their workforces last year in the face of a drawn-out slump, industry data showed Tuesday. According to the data compiled by industry tracker Chaebul.com, the shipbuilding sector slashed its workforce by 8,670 last year, or a 14.8 percent cut. The figure includes regular and nonregular workers. South Korea’s major [...]
SEOUL, May 16 (Korea Bizwire) – In 2009, Samsung Electronics introduced a “Master” program to help the company’s top researchers to make focused progress in their respective fields, and the initiative is now being adopted by other Samsung affiliates. Prior to the program, senior researchers would have to take on general management roles when they [...]
SEOUL, May 16 (Korea Bizwire) – Hyundai Mobis Co., an auto parts affiliate of Hyundai Motor Group, said Tuesday it will open its first domestic proving ground starting in June to test auto parts and related technologies. The country’s biggest auto parts maker by sales invested about 300 billion won (US$268 million) in the past [...]
SEOUL, May 15 (Korea Bizwire) – LG Electronics has partnered with Vietnam’s leading state-run broadcaster, HTV7, to market its premium line-up of home appliances through a local entertainment program. According to the company, the show titled Smart Wives premieres on May 16, to be aired for the next thirteen weeks. In the show, two local [...]
SEOUL, May 12 (Korea Bizwire) – Samsung Electronics Co. on Friday opened a new department under its chip division focusing on the foundry business, in line with the company’s efforts to expand its market presence in the area. The foundry business refers to making chip designs for other companies that do not have a semiconductor [...]
SEOUL, May 12 (Korea BIzwire) – South Korean shipbuilding companies including Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are branching out into the Norwegian market, with the trio expected to attend this year’s Nor-Shipping, one of the biggest international shipping exhibitions in the world, which will be held in Oslo [...]
SEOUL, May 12 (Korea Bizwire) – South Korea’s transport ministry on Friday ordered Hyundai Motor Co. and its sister company Kia Motors Corp. to recall a combined 240,000 vehicles for faulty parts. The Ministry of Land, Infrastructure and Transport made the final decision after reviewing five cases of suspected faulty parts in 12 models made [...]
SEOUL, May 12 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co., a troubled shipbuilder here, changed its incorrect financial statements from 2008 to the first quarter of 2016 on Thursday, it said. Its operating profit and loss in 2012 was revised from a 486.2 billion won (US$430 million) surplus to a 72 billion won [...]
SEOUL, May 10 (Korea Bizwire) – South Korean shipyards came in first in terms of new orders secured in April, with their order backlog continuing to slip, industry data showed on Wednesday. According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 340,000 compensated gross [...]
CHINA, May 10 (Korea Bizwire) – South Korean electronics giant Samsung’s recent struggles in the Chinese market saw its smartphone sales more than halved during the first quarter, with the company’s market share now languishing at 3.3 percent. While Samsung experienced one of its worst quarters in China, seeing its market share slashed by more than [...]