SEJONG, Oct. 11 (Korea Bizwire) – South Korea will spend a total of 500 billion won (US$450 million) in the coming five years to foster the robot industry as a new growth engine for Asia’s fourth-largest economy, the trade ministry here said Tuesday. “The robot industry has emerged as a new technology frontier that will [...]
SEOUL, Oct. 11 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will ask global partners to halt sales and exchanges of the Galaxy Note 7 and advised consumers to immediately stop using the smartphone because of continued safety concerns. The latest warning came about 10 days after Samsung resumed sales of the new Note [...]
SEOUL, Oct. 10 (Korea Bizwire) – Samsung has temporarily halted the production of its latest phablet amidst media reports of Galaxy Note 7 devices catching fire despite having been replaced, leaving consumers wondering if the flaw is in the phone itself instead of the battery. Following reports of Note 7s catching fire soon after the [...]
SEOUL, Oct. 10 (Korea Bizwire) – Samsung Electronics Co. has temporarily suspended production of the Galaxy Note 7 smartphone, an official at a supplier for Samsung said Monday, amid a series of media reports that some Note 7 replacements have caught fire. The halt is in cooperation with consumer safety regulators from South Korea, the [...]
SEOUL, Oct. 10 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, has recently seen its market value fall two notches to the No. 5 spot amid concerns over poor third-quarter earnings in the wake of a strike and a strong local currency. The market capitalization of Hyundai Motor, the flagship of the country’s [...]
SEJONG, Oct. 7 (Korea Bizwire) – South Korea’s car exports plunged at the fastest clip in nearly seven years last month due mainly to partial strikes at local carmakers and contracted global demand, the government said Friday. Outbound shipments of vehicles came to 156,680 units in September, down 23.7 percent from 205,274 units tallied a [...]
SEOUL, Oct. 7 (Korea Bizwire) – Owners of Samsung smartphones are still anxious despite the company’s quick recall measures as two additional phablets were found to have caught on fire. One of the incidents took place in Korea on October 1 at a home in Seoul, the same day that Samsung resumed sales of its [...]
SEOUL, Oct. 6 (Korea Bizwire) – South Korea’s top automaker Hyundai Motor Co. said Thursday that it has signed a deal with a taxi service company in Singapore to supply up to 3,500 i40 vehicles by the end of next year. The latest deal signed with Singapore’s ComfortDelgro Corp. marks the largest of its kind [...]
SEOUL, Oct. 6 (Korea Bizwire) – Samsung Electronics Co. said Thursday it will “carefully consider” a proposal by U.S. hedge fund Elliott Management that urged the South Korean tech giant to split into two companies to increase the value of shareholders. Elliott, which fought in 2015 against a merger of two Samsung affiliates but lost, [...]
SEOUL, Oct. 6 (Korea Bizwire) – Smartphone companies and mobile carriers are targeting niche customers that are price-sensitive but seeking high-quality products. These lower-cost premium smartphones usually sell in the price range between 600,000 won ($540) and 700,000 won, roughly 300,000 won less than conventional premium smartphones such as the Galaxy Note 7 or LG’s [...]