SEOUL, Jan. 4 (Korea Bizwire) – South Korea’s shipbuilding industry is due to be outdone by Japan for the first time in 17 years in order backlog, tentative data from a global research firm indicated Wednesday, overturning its dominance that at one time was 10 times bigger than that of its neighbor. Estimates from Clarkson [...]
SEOUL, Jan. 3 (Korea Bizwire) – South Korea’s exports to China increased 9.6 percent on-year last month, following a 0.4 percent gain in November, data showed Tuesday, with industry experts forecasting that outbound shipments to Seoul’s largest trading partner will stay on a recovery track down the road. South Korea’s outbound shipments to China reached [...]
SEOUL, Jan. 2 (Korea Bizwire) – Global sales of cars produced by five South Korea-based automakers shrank slightly from a year earlier in 2016 due to a decline in overseas sales that more than offset an increase in sales here, data released by the carmakers showed Monday. The combined global sales of the five automakers [...]
SEOUL, Jan. 2 (Korea Bizwire) – LG Chem Ltd., South Korea’s top chemicals firm, will focus on the energy and bio sectors this year as part of an effort to diversify its business portfolio and secure new growth engines, its head said Monday. In a New Year message to its employees, Park Jin-soo, vice chairman [...]
SEOUL, Jan. 2 (Korea Bizwire) – Hyundai Motor Group has set its sales target at 8.25 million cars this year, the group chairman said Monday. The annual target marks a 1.5 percent increase from the 2016 target of 8.13 million. South Korea’s largest automotive group has yet to release its actual sales for 2016, but [...]
SEOUL, Dec. 29 (Korea Bizwire) – South Korea’s largest automaker Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. will seek to greatly boost their combined sales in China next year with various new models that will include SUVs, informed sources said Thursday. According to the sources, who spoke on condition of anonymity, the [...]
SEOUL, Dec. 29 (Korea Bizwire) – BMW Korea, the local importer and distributor of BMW cars, will recall a total of 2,100 cars sold here for various problems, including a defective oil filter casing that could allow coolant to mix with engine oil, damaging the engine, the transportation ministry said Thursday. The recall affects 1,135 [...]
GUNPO, South Korea, Dec. 28 (Korea Bizwire) – The chairman of a South Korean robotics company, which recently grabbed media attention by building a giant manned robot, said Wednesday the company aims to unveil a shape-shifting “Transformers-style” electric vehicle next year. Yang Jin-ho, the 45-year-old chairman of Hankook Mirae Technology, said his childhood dream of [...]
SEJONG, Dec. 28 (Korea Bizwire) – South Korea’s antitrust watchdog on Wednesday slapped U.S. mobile phone chipmaker Qualcomm Inc. with a record fine of 1.03 trillion won (US$853.1 million) for abusing its dominant position in the mobile communications market. The Fair Trade Commission (FTC) said the San Diego-based company and its two affiliates breached the [...]
SEOUL, Dec. 28 (Korea Bizwire) – Global chipmakers are racing to boost their production capacity of NAND flash memory chips used in mobile devices, driven by a rebound in demand for smartphones and data-storage devices. After volatile price swings in recent years, semiconductor manufacturers are expected to benefit from a global upswing in prices for [...]