SEOUL, Dec. 5 (Korea Bizwire) – Diesel cars that were once fancied by consumers for their higher fuel efficiency are losing ground in Korea, mainly from the global emissions scandal in addition to the government imposing stricter diesel car regulations, labeling them as one of the main sources of fine dust. According to the Ministry [...]
SEOUL, Dec. 5 (Korea Bizwire) – Russia’s state-owned shipping line Sovcomflot may award its oil tanker shipbuilding deal to a South Korean shipbuilder in the near future, with its management recently visiting Hyundai Heavy Industries Co. and Samsung Heavy Industries Co., industry sources said Monday. According to the report from global shipping industry tracker Tradewinds [...]
SEOUL, Dec. 2 (Korea Bizwire) – Global oil prices have rallied this week, and may settle above the US$50 level in the near future, a boon for Korean shipbuilders still struggling with falling new orders, industry sources said Friday. Oil prices continued to rise on Thursday extending their rally to a second consecutive day after [...]
SEOUL, Dec. 1 (Korea Bizwire) – Combined sales of automakers in South Korea grew from a year earlier in November on strong demands both at home and abroad, data from the companies showed Thursday. In November, the five South Korea-based carmakers sold 868,458 cars globally, up 5.6 percent from 822,754 vehicles sold in the same [...]
SEOUL, Dec. 1 (Korea Bizwire) – LG Electronics Inc. on Thursday reshuffled its top management, shifting from group management by three co-chief executive officers to leadership by one top manager to better cope with the rapidly changing global market environment. Jo Seong-jin, 60, head of LG’s home and appliance business division, took the post of [...]
SEOUL, Dec. 1 (Korea Bizwire) – South Korea’s major shipyards have to pay off or refinance a combined 2.22 trillion won (US$1.89 billion) worth of corporate bonds due next year amid concerns over their worsening financial status, industry sources said Thursday. According to the sources, Daewoo Shipbuilding & Marine Engineering Co., one of the country’s [...]
SEOUL, Dec. 1 (Korea Bizwire) – Samsung Electronics Co. said Thursday it has retrieved about 67 percent of Galaxy Note 7 smartphones sold in South Korea about three months after it conducted a global recall of the smartphones over a safety risk. Taking into consideration that some owners of the Note 7 had applied to [...]
SEOUL, Nov. 29 (Korea Bizwire) – The South Korean government said Tuesday it will ban sales of six models by three foreign automakers, accusing them of fabricating reports to win sales approval from the local government. The Ministry of Environment said it detected defects in the certification documents of 10 vehicle models from the local [...]
SEOUL, Nov. 29 (Korea Bizwire) – South Korea’s No. 2 automaker Kia Motors Corp. on Tuesday introduced its all new K7 hybrid car, the latest and last addition to the K7 lineup. The K7 hybrid uses advanced electric vehicle mode to realize fuel efficiency of 16.2 kmpl, the highest in its segment, the company said. [...]
SEOUL, Nov. 28 (Korea Bizwire) – South Korea’s T-50 jet and its variants have successfully completed 5,000 test flights, highlighting the reliability of the plane being marketed abroad as a next-generation advanced trainer, the country’s sole aircraft company said Monday. The T-50 and T-50A advanced trainers, the TA-50 lead-in fighter trainer and the FA-50 two-seat [...]