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McKinsey’s Competence Under Fire After Questionable Recommendations to DSME

McKinsey’s Competence Under Fire After Questionable Recommendations to DSME

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 [...]

S. Korea, U.S. To Fund $6 Mln on Project to Develop Disaster-Response Robot Tech

S. Korea, U.S. To Fund $6 Mln on Project to Develop Disaster-Response Robot Tech

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. [...]

Samsung, Gov’t Investigate Cause of Galaxy Note 7 Fires

Samsung, Gov’t Investigate Cause of Galaxy Note 7 Fires

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 [...]

Samsung Predicts Another US$3.1 Bln Loss from Note 7′s Exit

Samsung Predicts Another US$3.1 Bln Loss from Note 7′s Exit

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 [...]

Galaxy Note 7 Won’t Affect Samsung’s Ratings: Standard & Poor’s

Galaxy Note 7 Won’t Affect Samsung’s Ratings: Standard & Poor’s

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 [...]