SEOUL, Sept. 27 (Korea Bizwire) – Carmakers in South Korea saw their overseas production exceed domestic output in the first eight months of this year, industry data showed Tuesday, as local automakers have built more assembly lines in foreign countries in recent years. Seven carmakers, including top automaker Hyundai Motor Co. and its sister company [...]
SEOUL, Sept. 26 (Korea Bizwire) – In contrast to the recent global tendency for enterprises to bring manufacturing back to their native soil, Korean companies seem to be bucking the trend, government data showed Monday. Reshoring is when a company moves manufacturing ventures back to its home country after operating overseas, often in search of [...]
ULSAN, Sept. 26 (Korea Bizwire) – Unionists of Hyundai Motor Co. went on their first full strike in 12 years Monday after rejecting a previously offered compromise on wage hikes. Assembly lines at the nation’s largest automaker were halted at 6:45 a.m., the start of the morning shift. The last time that the Hyundai union [...]
SEOUL, Sept. 26 (Korea Bizwire) – LG Chem Ltd., a South Korean chemicals company, aims to post annual sales of 7 trillion won (US$6.3 billion) in electric car batteries in 2020, according to the company Sunday. Helped by a growing demand for electric car batteries, LG Chem expects to post 3.7 trillion won in annual [...]
ULSAN, Sept. 23 (Korea Bizwire) – Unionized workers of Hyundai Motor Company, perhaps Korea’s most powerful labor union with more than 48,000 members, announced that they will take advantage of the ‘laborer right to evacuate’ in case of future earthquakes. Korea suffered a record 5.8-magnitude earthquake on September 12, which was followed by hundreds of [...]
SEOUL, Sept. 23 (Korea Bizwire) – Following the September 9 recall of 15 dressers after criticisms that they’re prone to tipping over, the Swedish furniture giant said Thursday that it had halted sales of an additional 15 dressers in the Korean market. During a press conference held in Seoul, IKEA Korea CEO Andre Schmidtgall said [...]
SEOUL, Sept. 23 (Korea Bizwire) – Korean Air and Boeing have teamed up to develop the MD500 helicopter into an unmanned military chopper. According to the airline on Thursday, the two parties signed a memorandum of agreement for the enterprise which will run until 2017. Korean Air has successfully remodeled the local military’s MD500 choppers into [...]
SEOUL, Sept. 23 (Korea Bizwire) – South Korean companies’ exports of mobile handsets, including smartphones, to China dropped by more than 27 percent in the first eight months of the year from a year earlier amid the rising presence of Chinese rivals there, a report said Friday. According to the Institute for Information & Communications [...]
SEOUL, Sept. 22 (Korea Bizwire) – More than 25 percent of Galaxy Note 7 owners in South Korea have swapped their used phablets for new ones three days after Samsung Electronics Co. began a replacement program as part of a global recall over possible battery problems, industry officials said Thursday. The number of Note 7 [...]
SEOUL, Sept. 20 (Korea Bizwire) – Canada’s BlackBerry Ltd. began selling its first Android-based smartphone on Tuesday in South Korea, returning to the competitive smartphone market dominated by local brands. It is BlackBerry’s first smartphone launched in South Korea since it pulled out of the Korean market three years ago. The launch of the PRIV [...]