SEOUL, Sept. 19 (Korea Bizwire) – Korean medium-sized household appliance manufacturers, whose operations once relied heavily on China, are now making progress in Southeast Asian countries. Coway, best known for its water purifiers, recently announced its “Vision 2017” plan in Malaysia, which includes its ambitious goal to accrue 600,000 customer accounts by 2017. With its [...]
SEOUL, Sept. 19 (Korea Bizwire) – Korea’s largest shopping complex, Starfield Hanam, which opened to public on September 9, has become a new battleground for carmakers. Two automakers currently operate stores on the 460,000-square-meter premises: Hyundai Motor Company and BMW. While Hyundai stands as a symbolic figure of Korea’s automotive industry, BMW is currently the leading [...]
SEOUL, Sept. 19 (Korea Bizwire) – The current Korean market for smartphones may be dominated by the big three smartphone manufacturers – Samsung, Apple, and LG – and their latest premium products – the Galaxy Note 7, iPhone, and V20 – but other phone makers have been making inroads recently by targeting niche customers. KT, [...]
SEOUL, Sept. 19 (Korea Bizwire) – Prosecutors said Monday they have indicted the local subsidiary of China’s Huawei Technologies Co. and its executives on charges of leaking its competitor’s technologies and trade secrets. The Seoul Central District Prosecutors’ Office said Huawei Korea’s executive, identified only by his surname Kang, is suspected of leaking business secrets [...]
SEOUL, Sept. 19 (Korea Bizwire) – South Korea’s market for environmentally friendly cars expanded at a rapid pace in the first half of 2016, also overtaking that of Germany, the largest producer of green vehicles in Europe, industry data showed Monday. In the first six months of the year, South Korea-based manufacturers of environmentally friendly [...]
SEOUL, Sept. 19 (Korea Bizwire) – South Korean chipmaker Samsung Electronics Co. came closer to catching up with its U.S. archrival Intel Corp. in the global chip market in the second quarter, data showed Monday. Samsung Electronics saw its chip sales reach US$9.45 billion in the April-June period to account for 11.3 percent of the [...]
SEJONG, Sept. 13 (Korea Bizwire) – South Korea’s car exports shrank to a seven-year low in August due mainly to contracted global demand and partial strikes at local carmakers, the government said Tuesday. Outbound shipments of vehicles came to 142,987 units last month, down 18.6 percent from 175,610 units tallied a year earlier, according to [...]
SEOUL, Sept. 13 (Korea Bizwire) – A number of South Korean businesses were forced to halt their production and assembly lines for safety inspections Tuesday, one day after a powerful quake rocked the country. Nearly a dozen major industrial facilities, including a power plant, had their operations halted after a 5.8-magnitude earthquake jolted the nation, [...]
DAEJEON, Sept.12 (Korea Bizwire) – PC sales have continued to plummet, with major tech corporations like Intel announcing layoffs (a planned 12,000 by 2017). Desktop and laptop computers are increasingly being replaced by more portable but equally functional smartphones and tablets. Despite the trend however, Korea continues to generate a constant supply of patent applications [...]
SEOUL, Sept. 12 (Korea Bizwire) – Samsung Electronics Co. said Monday its vice chairman, Lee Jae-yong, was nominated to be a member of its board of directors, a move that will allow him to take a “more active role” in the decision-making process. The nomination of Lee, the only son of ailing Samsung Electronics Chairman [...]