SEOUL, Nov. 3 (Korea Bizwire) — Samsung BioLogics, a biopharmaceutical unit of Samsung Group, and Doosan Bobcat Co., an affiliate of power equipment conglomerate Doosan Group, are set to make their market debuts this month, which some analysts say may help the local stock market recover from a recent market turmoil. Last week, Samsung BioLogics, [...]
SEOUL, Nov. 2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, plans to raise an additional 700 billion won (US$609 million) through asset sales this year, raising the total amount prepared as part of its self-rescue measures to 6 trillion won (US$5.22 billion), since it is widely expected to miss [...]
SEOUL, Nov. 2 (Korea Bizwire) – Kia Motors Corp., South Korea’s No. 2 automaker, said Wednesday that it has reached a tentative wage deal with the labor union which will be put to a vote by unionized workers next week. Since late June, the automaker and its labor union have been negotiating the wage deal. [...]
DAEJEON, Nov. 2 (Korea Bizwire) – The Korea Railroad Corporation (Korail), Korea Railroad Research Institute (KRRI), and Hyundai Rotem signed a Memorandum of Understanding Tuesday for further implementation of an automatic train operation (ATO) system for Korea’s inter-city trains. Implementing the system will require two major improvements: reforming the train control platform and the railway [...]
SEOUL, Nov. 2 (Korea Bizwire) – The luxury vehicle division of Hyundai Motor Company, Genesis Motors, marks its first anniversary on November 4, after a rather successful first year. Although Hyundai launched a luxury sedan called the Hyundai Genesis in 2008, an official division was established last year dedicated to Hyundai’s luxury line-up with the [...]
SEOUL, Nov. 2 (Korea Bizwire) – Sales of large screen TVs have increased over the past two years, apparently from a price drop that made them affordable to a bigger consumer base, industry data showed Wednesday. According to leading retailer E-mart, the proportion of 60-inch or larger flat TVs sold among total TV sales this [...]
SEOUL, Nov. 1 (Korea Bizwire) – Two Hyundai Motor Group affiliates – Hyundai Motor Company and Kia Motors – unveiled their latest project on Monday, the development of an exclusive operating system for connected cars dubbed the Connected Car Operating System (ccOS). The new operating system is a software platform that will have the capacity [...]
SEOUL, Oct. 31 (Korea Bizwire) – Hyundai Motor Group is quickly expanding its Chinese operations, and along with it, its corporate social responsibilities. According to Beijing Hyundai Motor, a joint-venture between Beijing Automotive Group and Hyundai Motor Company, the Korean auto-group was given the highest CSR development index score this year among all automakers in [...]
SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s industrial output dropped in September to snap a four-straight month rise on a slump in auto output and mobile devices, a government report showed Monday. Production in the mining, manufacturing, gas and electricity industries fell 2 percent last month from a year ago, according to the report [...]
SEOUL, Oct. 28 (Korea Bizwire) – Samsung Heavy Industries Co., a leading South Korean shipbuilder, said Friday it has clinched a 200 billion-won (US$170 million) deal to build three tankers. Under the agreement with Nordic American Tankers Ltd., a Norwegian shipper, it will construct three Suezmax oil tankers of about 157,000 deadweight tons (DWTs) to [...]