SEJONG, Nov. 4 (Korea Bizwire) – South Korea’s largest aerospace company Korea Aerospace Industries Ltd. (KAI) said Wednesday that it inked a deal with Airbus Helicopters to sell locally made choppers abroad. The strategic partnership memorandum of understanding (MOU) reached in Seoul comes as the two companies concurred on the need to expand cooperation in [...]
SEOUL, Nov. 4 (Korea Bizwire) – South Korean chipmakers are expected to expand their production of dynamic random access memory (DRAM) chips despite falling market prices in a bid to cope with the rise of Chinese rivals, industry sources said Wednesday. The global contract price for a DDR3 4GB module, the standard in setting the [...]
SEOUL, Oct. 30 (Korea Bizwire) – After the performance of LG Electronics during the second quarter was announced (200 million won in business profits), company officials anticipated that profitability would improve as the new G4 smartphone launched worldwide. However, their dreams were shattered as concerns expressed by analysts became reality. The performance of LG Electronics [...]
SEOUL, Oct. 27 (Yonhap) – South Korea’s No. 2 carmaker Kia Motors Corp. said Tuesday it will run an ad during next year’s Super Bowl to promote its vehicles in the world’s No. 2 car market. Kia Motors said it will run the commercial during the Super Bowl on Feb. 7, 2016, marking the seventh [...]
SEOUL, Oct. 25 (Korea Bizwire) — South Korea’s top three shipbuilders are expected to post a combined operating loss of more than 7 trillion won (US$6.2 billion) in 2015 amid an industrywide slump, data showed Sunday. Market data showed the country’s top three shipbuilders — Samsung Heavy Industries Co., Hyundai Heavy Industries Co. and Daewoo [...]
SEOUL, Oct. 23 (Korea Bizwire) – While Indian media have reported that the local subsidiary of Samsung Electronics will be reducing its number of employees by five percent, the tech giant has responded that it is actually looking to hire more employees. The Indian Daily Economic Times reported that the Indian corporate body of Samsung [...]
SEOUL, Oct. 23 (Korea Bizwire) – As financial authorities and creditors have held off a plan to support the normalization of Daewoo Shipbuilding & Marine Engineering, the union from the Korea Development Bank (KDB) is pushing for a restructuring based on fundamentals. KDB’s union urged Daewoo to restructure even if the companies goes under legal [...]
SEOUL, Oct. 22 (Korea Bizwire) — Samsung SDI Co., the battery-making unit of South Korea’s top conglomerate Samsung Group, said Thursday it has started running its first electric-vehicle (EV) battery production line in China, as it seeks to tap deeper into what could be the world’s biggest EV market. Samsung SDI held a dedication ceremony [...]
SEOUL, Oct. 20 (Korea Bizwire) - POSCO Co., South Korea’s largest steelmaker, said Tuesday that it swung to a net loss in the third quarter amid tough market conditions at home and abroad and a one-time charge for a patent suit settlement. Its consolidated net loss amounted to 658.24 billion won (US$582.5 million) during the July-September period, [...]
SEJONG, Oct. 19 (Korea Bizwire) — South Korea’s government said Monday that it will join forces with Samsung Electronics Co. to develop precision manufacturing robots that could open new horizons for the local manufacturing sector. The plan calls for 16.75 billion won (US$14.8 million) worth of taxpayers’ money to be invested in the next three [...]