SEOUL, Aug 4. (Korea Bizwire) – Korea’s largest chemical company, LG Chem, is pushing forward with ambitious plans to target the rapidly growing market for disposable gloves. At the forefront of its endeavor are new self-developed nitrile gloves, a disposable set of gloves made from the synthetic rubber material NBL (Nitrile Butadiene Latex) which is [...]
SEOUL, Aug. 2 (Korea Bizwire) – The Korean economy is changing, with startups meeting both success and failure, and companies that fail to adapt to the new market realities will eventually perish. In a recent survey conducted by the Korea Chamber of Commerce & Industry (KCCI) and 71 regional organizations, 49.9 percent of 2,400 surveyed [...]
SEOUL, Aug. 1 (Korea Bizwire) – A Seoul court on Monday began a rehabilitation process for STX Heavy Industries Co., South Korea’s key manufacturer of vessel engines and plants, after the financially strapped company applied for protection late last month. The Seoul Central District Court will proceed with a debt-restructuring receivership program to prevent the [...]
ULSAN, July 29 (Korea Bizwire) – Companies in the southeastern city of Ulsan, marked by major shipyards and manufacturing plants, are on a special operational routine from early July to help their employees beat the summer heat worsened by fiery working environments, officials said Friday. Hyundai Heavy Industries, a leading shipbuilder headquartered in the city [...]
SEOUL, July 29 (Korea Bizwire) – Samsung Electronics and LG Electronics, South Korea’s two top tech firms competing in the global market, will have to wait until next quarter to see who the winner is in the home appliances sector after their latest operating profit rates showed a tie, industry watchers said Friday. Samsung announced [...]
SEOUL, July 28 (Korea Bizwire) – LG Electronics Inc. posted its biggest quarterly operating profit in two years for the second quarter of this year, backed by strong sales of its home appliances and televisions. LG Electronics reported an operating profit of 584.6 billion won (US$519.6 million) in the April-June period, up 139.5 percent from [...]
SEOUL, July 28 (Korea Bizwire) – Samsung Electronics Co. reported its biggest quarterly operating profit in more than two years Thursday, boosted by robust sales of its latest premium smartphone and cost-cutting efforts. The world’s largest maker of smartphones and semiconductors earned 8.14 trillion won (US$7.19 billion) in the April-June period, up 18.06 percent from the [...]
SEOUL, July 27 (Korea Bizwire) – ZAIGLE is a Korean household appliances maker best known for its BBQ grill of the same name. The uniquely-shaped cooking appliance has helped propel the venture company to surpass 100 billion won in annual revenue just seven years after the company’s launch. “We’ll strengthen our offline distribution in Korea [...]
SEOUL, July 27 (Korea Bizwire) – Samsung Electronics Co. raised its share of the U.S. home-appliance market for the second quarter of this year, widening its lead over competitors, according to a market estimate on Wednesday. Samsung accounted for 16.7 percent of the U.S. market for five major household appliances — refrigerators, washing machines, ovens, [...]
SEOUL, July 27 (Korea Bizwire) – Kia Motors Corp., South Korea’s No. 2 automaker, said Wednesday that its second-quarter net income surged over 10 percent from a year earlier on a large increase in sales. Net profit came to 825.7 billion won (US$727 million) in the April-June period, up 10.6 percent from the same period [...]