BRUSSELS, Nov. 18 (Korea Bizwire) – Sales of South Korea’s top carmaker, Hyundai Motor Co., and its affiliate, Kia Motors Corp., in the European auto market hit a record high in 2016, industry data showed Friday. Cumulative sales of the two automakers in the 28-member European Union (EU) came to an all-time high of 779,115 [...]
SEOUL, Nov. 18 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, has cut its order target for the year, joining other smaller local rivals’ move to adjust their annual order targets amid a protracted slump, industry sources said Friday. According to the sources, Hyundai Heavy revised down its order target to US$9.49 [...]
SEOUL, Nov. 17 (Korea Bizwire) – It has been over a month since exchange and refund programs for the Galaxy Note 7 began, but recent data reveals that thousands are still holding on to their phablets with telecommunications companies showing an average recovery rate of roughly 40 percent. According to data compiled by the Ministry [...]
SEOUL, Nov. 16 (Korea Bizwire) – South Korea said Wednesday that it will push to build more ships powered by liquid natural gas (LNG) and develop the relevant technologies in an effort to go green amid looming strict emission rules. The move came a month after the International Maritime Organization adopted a landmark decision to [...]
SEOUL, Nov. 17 (Korea Bizwire) – South Korean firefighters may soon start using drones in their search and rescue missions, while remote controlled drones may also help save lives by airlifting much needed medicine and other emergency supplies to people in areas often stranded by seasonal floods or heavy snowfall, the government said Thursday. One [...]
SEOUL, Nov. 16 (Korea Bizwire) – The G90 luxury sedan of South Korea’s top automaker Hyundai Motor Co. has been named one of three finalists in the North American Car and Truck of the Year Award, the automaker said Wednesday. The Genesis G90, marketed in South Korea as the EQ900, is the sixth Hyundai vehicle [...]
SEOUL, Nov. 15 (Korea Bizwire) – Investments by the top 30 conglomerates this year up to the third quarter showed a 24 percent drop compared to the same period last year, a tally from a corporate tracker showed Tuesday. The 30 business groups, who control 257 affiliates, invested 45.33 trillion won (US$38.83 billion) on tangible [...]
SEJONG, Nov. 14 (Korea Bizwire) – South Korea’s southeast region (Busan, Ulsan, South Gyeongsang Province), also called the “Southeast Economic Belt”, which plays an essential role as the country’s major production hub and a locus for trade, has steadily lost momentum in recent years, announced Statistics Korea Monday. According to KOSTAT, the index of industrial [...]
SEOUL, Nov. 14 (Korea Bizwire) – Samsung Electronics Co. said Monday it has signed an agreement to acquire U.S. automotive electronics firm Harman International Industries Inc. for about US$8 billion. With the deal, Samsung will secure “a significant presence in the large and rapidly growing market for connected technologies, particularly automotive electronics, which has been [...]
SEOUL, Nov. 14 (Korea Bizwire) – South Korean automobiles will go on sale via TV home shopping networks starting in 2018 under a revised regulation, the government announced Monday. The nation’s four major home shopping channels — CJ, Hyundai, GS and Woori — will be allowed to deal in not just foreign and used cars [...]