SEOUL, May 11 (Korea Bizwire) – Hyundai is making a push into the superhero world as part of efforts to target the North America market. The company has signed a two-year contract with Marvel and Netflix to feature its vehicles in superhero series such as Daredevil, Jessica Jones, Luke Cage, and Iron Fist. Hyundai will also be [...]
CHANGWON, May 11 (Korea Bizwire) — Two former heads of Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipbuilder, are subject to a travel ban over investigation into huge losses the company suffered, industry sources said Wednesday. Nam Sang-tae, who headed the company from 2006 to 2012 and Ko Jae-ho, who succeeded Nam [...]
SEOUL, May 11 (Korea Bizwire) – Sales of hybrid cars in South Korea hit an all-time high last month amid growing interest in environmentally friendly vehicles, industry data showed Wednesday. Sales of hybrid cars here reached 7,454 units last month, breaching the previous monthly record of 5,157 units set in December, according to the data by [...]
SEOUL, May 10 (Korea Bizwire) – Silence is golden, a wise man once said. Mini electric vehicles (EV) that are both free from noise and air pollution will soon be delivering midnight snacks to your doorstep. According to the Seoul Metropolitan Government, the city will put the Twizy, an ultra-mini EV from Renault Samsung, to [...]
SEOUL, May 10 (Korea Bizwire) – Hyundai Motor Co., South Korea’s leading automaker, has sold more than 4 million cars in India since its advance into the market about 20 years ago, industry data showed Tuesday. Hyundai Motor opened its local corporate body in India in 1995, with its first plant there going into operation [...]
SEOUL, May 9 (Korea Bizwire) – Debts owed by South Korea’s three major shipbuilders more than doubled over a period of five years ending in 2015 due to disadvantageous contract terms, according to their business reports Sunday. The combined borrowings by Hyundai Heavy Industries Co., Samsung Heavy Industries Co., and Daewoo Shipbuilding & Marine Engineering [...]
SEOUL, May 4 (Korea Bizwire) — The chief of the South Korean banks’ association said on Wednesday that the ongoing industrial restructuring will have little impact on local commercial banks, citing their minor exposure to financially troubled companies. In a press conference held in Germany on the sidelines of the 49th Asia Development Bank annual [...]
SEOUL, May 3 (Korea Bizwire) — Creditors of Samsung Heavy Industries Co. have called on the shipyard to map out a set of self-restructuring measures as the local shipbuilding segment is reeling from mounting losses and a protracted slump, industry sources said Tuesday. Last week, Hana Bank, the main creditor of Hyundai Heavy Industries Co., also [...]
SEOUL, May 2 (Korea Bizwire) — Loss-making South Korean shipyards, facing growing pressure from their creditors to cut costs amid an industrywide slump, are expected to ratchet up moves to cut their workforces and sell noncore assets, industry sources said Monday. Last month, the government picked five sectors to put under intensive restructuring as their [...]
SEOUL, Apr. 29 (Korea Bizwire) — Unionized workers of two major shipbuilders in South Korea are set on a collision course with top managers over how to restructure the embattled companies reeling from snowballing losses amid a longstanding business slump, sources said Friday. The labor union of Daewoo Shipbuilding & Marine Engineering Co. (DSME) is [...]