SEOUL, Dec. 28 (Korea Bizwire) – About 300 office workers of embattled Daewoo Shipbuilding & Marine Engineering Co. (DSME) will go on a month-long unpaid leave in January as part of efforts to cut costs, sources said Wednesday. They will be the first batch of DSME’s 4,700 desk-job employees who will take turns on unpaid [...]
SEOUL, Dec. 27 (Korea Bizwire) – Samsung Electronics Co. retained its No. 2 spot in a global ranking for industrial research and development spending for the third consecutive year, a survey by the European Commission’s Economics of Industrial Research and Innovation showed Tuesday. According to the annual survey, 75 South Korean firms were among the [...]
SEOUL, Dec. 27 (Korea Bizwire) – South Korea’s top three shipbuilders are expected to suffer from tough business conditions in 2017 with their orders likely to reach levels similar to this year, industry sources said Tuesday. In the face of a global vessel glut and fiercer competition from Chinese rivals, the three shipyards — Hyundai [...]
SEOUL, Dec. 26 (Korea Bizwire) – South Korean exports and output of organic light emitting diode (OLED) display panels are expected to rise next year, thanks to a strong demand for smartphones and high-definition televisions, a report showed Monday. Citing data from market researcher IHS, the report by the Institute for Information & Communications Technology [...]
SEOUL, Dec. 26 (Korea Bizwire) – SK hynix Inc., a South Korean chipmaker, plans to begin mass production of advanced flash memory chips for mobile devices, or 3D NAND chips, next year, an industry source said Monday. The advanced NAND chips with 72 layers of data-storing memory cells will be produced at SK hynix’s chip [...]
SEOUL, Dec. 23 (Korea Bizwire) – Executives from Hyundai Motor Group have expressed concerns for 2017, mainly from the stagnant global automotive industry and a strong comeback from Japanese automakers buoyed by the low Japanese yen. During a seminar on Thursday outlining the global automotive industry prospects for 2017 hosted at company headquarters in southern [...]
SEOUL, Dec. 23 (Korea Bizwire) – Poor after-sales services largely caused by too few repair centers are causing serious inconveniences for over one million owners of imported vehicles here, a consumer agency said Friday. As of the end of November 2015, the number of foreign vehicles registered here came to 1.26 million, according to the [...]
SEOUL, Dec. 21 (Korea Bizwire) – Tesla is unlikely to meet its goal to launch its Korean operations by the end of the year. According to government sources, Tesla had yet to register for a manufacturer’s license – a necessary step in Korea for vehicle sales – as of Tuesday. In order to obtain the [...]
SEOUL, Dec. 21 (Korea Bizwire) – South Korea’s arms procurement agency said Wednesday it has placed an order to build two 2,800 ton frigates ahead of schedule to support the ailing local shipbuilding industry. The Defense Acquisition Program Administration (DAPA) said it signed a contract worth 700 billion won (US$585.6 million) with Hyundai Heavy & [...]
SEOUL, Dec. 21 (Korea Bizwire) – Ford Sales & Service Korea, the local importer and distributor of Ford vehicles, will recall certain model year Ford Explorer SUVs sold here for a problem related to the cars’ suspension, the transportation ministry said Wednesday. The recall affects 489 Explorer cars produced between Jan. 17 and May 31 [...]