SEOUL, Dec. 20 (Korea Bizwire) – Huawei’s ambitious launch of its premium smartphone, the P9, has so far reaped disappointing results in the South Korean market. The P9 and the P9 Plus, which were first launched in April, made their official entry here on December 2, only to face discouraging numbers, with roughly 100 of [...]
SEOUL, Dec. 20 (Korea Bizwire) – South Korea and China have agreed to expand the mutual certification of electronics and electrical products on the occasion of the first anniversary of their free trade deal, a government agency said Tuesday. The agreement calls for the exemption of 104 electronics and electrical goods from obtaining a mandatory [...]
SEOUL, Dec. 20 (Korea Bizwire) – Ssangyong Motor Co., the local unit of Indian carmaker Mahindra & Mahindra Ltd., said Tuesday that it has sold more than 100,000 units of the Tivoli small SUV in the South Korean market alone, making it one of the best-selling cars in its history. The automaker said 100,025 units [...]
SEOUL, Dec. 19 (Korea Bizwire) – In accordance with a recent agreement with the Ministry of Environment, domestic and overseas tire manufacturers will be obligated to indicate the noise level of their products starting in 2019, a measure that officials expect will significantly reduce noise pollution from vehicles. Organizations and manufacturers that voluntarily agreed to [...]
CHANGWON, South Korea, Dec. 19 (Korea Bizwire) – The iconic 105-meter gantry crane from Sungdong Industrial Co.’s Masan shipyard is being dismantled, set to bid its home farewell after less than a decade of service, with the locals and the media are calling the event the “Tears of Masan” – taken from “Tears of Malmö.” Tears [...]
SEOUL, Dec. 19 (Korea Bizwire) – Hyundai Merchant Marine Co., a major shipping line here, expects its profitability to improve slightly in the first quarter of next year on the back of an improvement in freight rates and its cost-cutting measures, its chief said Monday. “I can’t say when we will swing to the black, [...]
SEOUL, Dec. 19 (Korea Bizwire) – Kia Motors Corp., South Korea’s No. 2 automaker, saw its sales in Mexico more than double in November despite rising concerns over U.S. President-elect Donald Trump’s trade policy, industry data showed Monday. Kia sold 5,460 vehicles in November, up a whopping 143 percent from the same month a year [...]
SEOUL, Dec. 16 (Korea Bizwire) – POSCO Co., South Korea’s leading steelmaker, and local rivals are moving to raise steel prices in tandem with a rise in the prices of raw materials, industry sources said Friday. According to the sources, POSCO plans to raise hot-rolled steel plates by 120,000 won (US$102) per ton next month, [...]
GWANGMYEONG, South Korea, Dec. 15 (Korea Bizwire) – December 18 will mark the second anniversary of IKEA’s launch in the Korean market. According to the company, its Korean operations have been a success so far. Annual turnover for the 2016 fiscal year (September 2015 – August 2016) was 345 billion won ($292.3 million), while this [...]
SEOUL, Dec. 15 (Korea Bizwire) – Samsung Display Co., the display-making unit of Samsung Group, saw its third-quarter sales of flexible organic light emitting diode (OLED) screens exceed US$1 billion, according to industry data Thursday. In terms of sales of small and medium-sized flexible OLED screens for smartphones and other wearable gadgets, Samsung Display took [...]