SEOUL, Sept. 5 (Korea Bizwire) – The chief of South Korea’s top automaker Hyundai Motor Group on Monday called for stepped-up efforts to develop new luxury and environmentally friendly cars to meet future demands, saying the future is already here. Group Chairman Chung Mong-koo also stressed the importance of the U.S. market as he headed [...]
SEOUL, Sept. 5 (Korea Bizwire) – The demand for smaller refrigerators emphasizing function and design is on the rise. Korea’s rapidly increasing number of single-person households, “value-spending” on higher-satisfaction products, and a rising consumer interest in kitchen interior design are among major factors contributing to the trend, says industry watchers. The domestic market for smaller [...]
SEOUL, Sept. 5 (Korea Bizwire) – The mass recall of the Galaxy Note 7 smartphones over faulty batteries is expected to cut Samsung Electronics Co.’s second-half operating profit by about 820 billion won (US$738.2 million), an analyst said Monday. Samsung announced a global recall of the Note 7 smartphones on Friday after some of their [...]
SEOUL, Sept. 1 (Korea Bizwire) – The expected decline in the working age population in South Korea beginning next year will hit the steel and its related markets, as seen in the case of Japan, a research report said Thursday. The report from the POSCO Research Institute projected that the construction market, which accounts for [...]
SEOUL, Aug. 31 (Korea Bizwire) – Samsung Electronics Co. has halted deliveries of its flagship Galaxy Note 7 phablet to South Korean mobile carriers amid a series of reports at home and abroad that a few of the devices were “exploding” while they were being charged, industry officials said Wednesday. The stoppage of Galaxy Note [...]
SEOUL, Aug. 31 (Korea Bizwire) – The first allegations of a Galaxy Note 7 catching on fire came on August 24 in a post on Ppomppu, an online community largely frequented by smartphone users for tips and feedback. The victim said in a post that her “boyfriend’s Galaxy Note 7 exploded while it was charging,” [...]
SEOUL, Aug. 31 (Korea Bizwire) – Slightly over 8 percent of South Korea’s major listed companies suffered a double whammy of operating and net losses in 2015 amid an economic slump, data showed Wednesday, sparking concern over their financial health. According to the data by the Korea 20000 Corporate Research Institute, 23 of the 273 [...]
SEOUL, Aug. 29 (Korea Bizwire) – Local carmakers’ business outlook for the year is increasingly dim as they are struggling with a protracted labor dispute and a fall in demand in emerging markets, industry sources said Sunday. According to the sources, workers at South Korea’s leading carmaker Hyundai Motor Co. have voted down a tentative [...]
SEJONG, Aug. 29 (Korea Bizwire) – South Korea will invest 40 billion won (US$35.5 million) by 2020 to improve the country’s industrial design capability and develop higher value-added products, the trade ministry here said Monday. In a design promotion plan unveiled at the 2016 Design Innovation Forum held in Seoul, the Ministry of Trade, Industry [...]
SEOUL, Aug. 26 (Korea Bizwire) – Hyundai Motor Group’s YouTube video of a Kia Soul EV parking itself went viral among car enthusiasts, accumulating over 200,000 views in less than a day. The video, which was filmed at Hyundai’s research institute in Gyeonggi Province (Uiwang), shows a driver stepping out of a vehicle and using [...]