SEOUL, Oct. 18 (Korea Bizwire) – Global consulting firm McKinsey & Company is again facing criticism with the disclosure that it provided business consulting services to Daewoo Shipbuilding & Marine Engineering (DSME) three years ago, advising the company to focus on its offshore plants – the very business that lead to DSME’s demise. McKinsey is [...]
SEOUL, Oct. 18 (Korea Bizwire) – LG Electronics Inc. said Tuesday it has released a ultra-wide computer monitor in South Korea, adding it was the industry’s first company to release a 38-inch monitor. With a 21:9 aspect ratio, it is expected to allow users to better work on multi-screen jobs, LG said in a statement. [...]
SEOUL, Oct. 18 (Korea Bizwire) – South Korea’s top automotive group Hyundai Motor Group will work to expand its presence in the Chinese market with its overall production capacity there expected to reach 2.7 million vehicles per year in 2018, the automaker said Tuesday. The plan was announced at a ceremony, marking the construction of [...]
SEOUL, Oct. 18 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will pay full compensation to suppliers of Galaxy Note 7 components. The move is a part of its efforts to help about 70 suppliers that are grappling with the discontinuation of the Note 7 over safety concerns. In a statement, Samsung also said [...]
SEJONG, Oct. 18 (Korea Bizwire) – South Korea and the United States will spend a combined US$6 million on a joint research project to develop robotic technologies for disaster response over the next three years, the trade ministry here said Tuesday. Officials from the two governments, including South Korea’s Director General Kim Jeong-hwan and U.S. [...]
SEOUL, Oct. 17 (Korea Bizwire) – The public image of Hyundai Motor has really taken a blow this time. Despite already pulling in some of the highest salaries in the country at an average of 90 million KRW per year, the labor union has asked for more. Even the President of Korea criticized the union [...]
SEOUL, Oct. 17 (Korea Bizwire) – The opinion that a regulation free zone should be implemented in Korea has been proposed as the global service market for commercial drones is now estimated to be 144.8 trillion KRW. According to the report “Current Status of Commercial Drones and the Policy to Deregulate the Operation” proposed by [...]
SEOUL, Oct. 17 (Korea Bizwire) – Samsung Electronics Co. and the South Korean government have launched their own investigations to figure out what caused Galaxy Note 7 smartphones to catch fire after the tech giant halted its sales over recurring battery problems, industry officials said Sunday. Samsung has been investigating components of its latest flagship [...]
SEOUL, Oct. 14 (Korea Bizwire) – Samsung Electronics Co. said Friday that the discontinuation of the Galaxy Note 7 smartphone is expected to dent the company’s operating profit by additional US$3.1 billion over the next two quarters. Samsung already slashed its estimate for third-quarter operating profit by 2.6 trillion won ($2.3 billion), saying the revision [...]
SEOUL, Oct. 13 (Korea Bizwire) – International ratings agency Standard and Poor’s said Thursday the global recall and discontinuation of the Galaxy Note 7 smartphone will not affect its ratings on Samsung Electronics Co. “We believe the impact on the ratings will be limited at this stage” mainly due to Samsung’s significant net cash holdings [...]