SEOUL, Jan. 9 (Korea Bizwire) – Samsung’s surprise surge in 2016 Q4 profit may further close the gap with its U.S. competitor Apple. According to industry watchers, Samsung reported sales revenue of 53 trillion won ($44 billion) with an operating profit of 9.2 trillion won, for an impressive operating margin of 17.36 percent. The value [...]
SEOUL, Jan. 9 (Korea Bizwire) – Korea set a new annual record in 2016 for eco-friendly vehicle sales. According to the Korea Automobile Manufacturers Association and the Korea Automobile Importers & Distributors Association, total sales of environmentally-friendly vehicles – both domestic and imported – amounted to 68,761 units, which was more than double the number [...]
SEOUL, Jan. 9 (Korea Bizwire) – South Korea’s local automobile output dropped significantly from a year earlier in 2016, also slipping a notch to the world’s sixth-largest producer of cars, industry data showed Monday. According to the data from the Korea Automobile Manufacturers Association (KAMA), five South Korea-based automakers produced a combined total of 4,228,536 [...]
SEOUL, Jan. 9 (Korea Bizwire) – South Korea will ease regulations on visa screening procedures for young foreigners who get jobs at selected manufacturing businesses in a way to tackle the labor shortage, the government said Monday. Foreign students who are studying in South Korea and want to work in the country’s “root” industries such [...]
SEOUL, Jan. 6 (Korea Bizwire) – LG Electronics Inc. forecast Friday that it is likely to have returned to the red in the fourth quarter of last year, indicating that its money-losing smartphone business appears to have continued to crumble. LG said it expects an operating loss of 35.3 billion won (US$29.6 million) for the [...]
SEOUL, Jan. 6 (Korea Bizwire) – Samsung Electronics Co. predicted Friday that its fourth-quarter operating profit last year may have jumped about 50 percent on-year, beating market expectations as strong sales of chips and displays appeared to help offset losses from a global recall of the Galaxy Note 7 smartphones. Operating profit is estimated at [...]
LAS VEGAS, Jan. 4 (Korea Bizwire) – South Korean home appliance maker LG Electronics Inc. showed its new lineup of flagship organic light-emitting diode (OLED) televisions at an annual U.S. trade show Wednesday, as it seeks to get a bigger slice of the U.S. market for next-generation TVs. The sleek and razor-thin 77-inch TV, displayed [...]
SEOUL, Jan. 5 (Korea Bizwire) – Sales of imported vehicles dropped significantly from a year earlier in 2015, largely due to a sales ban on Audi and Volkswagen cars following an emissions scandal, data showed Thursday. In 2016, the number of newly registered foreign cars came to 225,279, down 7.6 percent from 243,900 the previous [...]
SEOUL, Jan. 5 (Korea Bizwire) – Samsung Heavy Industries Co., a major shipyard here, said Thursday that it has won a US$1.27 billion deal to build an offshore facility, marking the first mega deal of the year for South Korean shipbuilders struggling to bring in new orders. Under the deal with BP Plc, Samsung Heavy [...]
SEOUL, Jan. 4 (Korea Bizwire) – South Korean actor Son Ji-chang, who recently filed suit against U.S. electric vehicle maker Tesla Motors over his sudden acceleration accident, said Wednesday that he will call for the United States’ National Highway Traffic Safety Administration (NHTSA) to look into the accident. Son, residing in California, claimed in the [...]