SEOUL, April 13 (Korea Bizwire) – The state-run main creditor of Daewoo Shipbuilding & Marine Engineering Co. said Thursday it is willing to negotiate with the state pension fund on the ailing shipbuilder’s debt rescheduling measures. The remarks by Korea Development Bank (KDB) CEO Lee Dong-geol came as the National Pension Service (NPS) is set [...]
SEOUL, April 12 (Korea Bizwire) – South Korean automobile manufacturer Hyundai Motor’s recent decision to recall around 170,000 cars of five different models in its motherland due to manufacturing defects found in its Theta 2 engine was prompted by an insider, recent reports have revealed. A great level of attention is being paid to whistleblower [...]
SEOUL, April 12 (Korea Bizwire) – In the wake of growing concerns over the future of one of South Korea’s biggest shipbuilding companies, DaeWoo Shipbuilding & Marine Engineering (DSME), more than 90 percent of employees have agreed to return some of their salary as part of a collective effort to cut spending and save the company. [...]
SEOUL, Apr. 12 (Korea Bizwire) — Workers who have to put in shifts at irregular hours are more deprived of sleep and more prone to smoking and drinking than people who do regular daytime duties, a survey showed Tuesday. The findings, released by Professor Song Yoon-mi of Samsung Medical Center, said women in their 50s [...]
SEOUL, April 11 (Korea Bizwire) – Samsung Electronics Co. said Tuesday that preorders for its new flagship smartphone, the Galaxy S8, has surpassed a whopping 600,000 units in just five days, heralding a big hit for the company. The Galaxy S8 smartphones feature high resolution displays that bend on both ends, and come with various [...]
SEOUL, April 11 (Korea Bizwire) – The business sentiment index for the second quarter rose from the previous quarter, but pessimism still outweighed optimism overall, the Korea Chamber of Commerce and Industry (KCCI) said Tuesday. A survey of some 2,200 manufacturing firms put the business sentiment index at 89 in the second quarter, up 21 [...]
SEOUL, April 11 (Korea Bizwire) – Auto sales in South Korea rose to the highest in 14 years in the first quarter of the year, aided by solid demand for new models, industry data showed Tuesday. Data from the Korea Automobile Manufacturers Association (KAMA) showed that the country’s five automakers and two commercial vehicle manufacturers [...]
SEOUL, April 10 (Korea Bizwire) – China’s display makers are expected to double their liquid crystal display (LCD) market share this year from 2014, posing challenges to industry leaders in South Korea and Taiwan, data showed Sunday. Driven by growing demand for large LCDs for televisions, combined LCD production of Chinese manufacturers is expected to increase to 26.8 percent in 2017, according to market trackers IHS and IDC. Their share has continued to [...]
SEOUL, April 10 (Korea Bizwire) – South Korea sent back 2,500 vehicles manufactured by Audi and Volkswagen in line with the government’s sales ban following the German carmakers’ emissions scandal last year, industry sources said Monday. According to the sources, the automobiles, including Tiguan and Golf models, have been held at a port in Pyeongtaek, [...]
SEOUL, Apr. 10 (Korea Bizwire) — South Korea’s SK Innovation said Sunday it aims to develop a powerful electric car battery that would enable vehicles to travel 500 kilometers on a single charge by 2020. The energy and chemical business arm of SK Group said it will cope with current business trouble in China through [...]