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Archive by category Manufacturing

Hyundai Mobis to Open Proving Ground to Test Parts, Technology

Hyundai Mobis to Open Proving Ground to Test Parts, Technology

SEOUL, May 16 (Korea Bizwire) – Hyundai Mobis Co., an auto parts affiliate of Hyundai Motor Group, said Tuesday it will open its first domestic proving ground starting in June to test auto parts and related technologies.  The country’s biggest auto parts maker by sales invested about 300 billion won (US$268 million) in the past [...]

LG to Market Premium Home Appliances on Vietnamese TV Show

LG to Market Premium Home Appliances on Vietnamese TV Show

SEOUL, May 15 (Korea Bizwire) – LG Electronics has partnered with Vietnam’s leading state-run broadcaster, HTV7, to market its premium line-up of home appliances through a local entertainment program.  According to the company, the show titled Smart Wives premieres on May 16, to be aired for the next thirteen weeks.  In the show, two local [...]

South Korean Shipbuilding Companies Make Foray Into Norwegian Market

South Korean Shipbuilding Companies Make Foray Into Norwegian Market

SEOUL, May 12 (Korea BIzwire) – South Korean shipbuilding companies including Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries are branching out into the Norwegian market, with the trio expected to attend this year’s Nor-Shipping, one of the biggest international shipping exhibitions in the world, which will be held in Oslo [...]

Hyundai, Kia to Recall 240,000 Vehicles for Faulty Parts

Hyundai, Kia to Recall 240,000 Vehicles for Faulty Parts

SEOUL, May 12 (Korea Bizwire) – South Korea’s transport ministry on Friday ordered Hyundai Motor Co. and its sister company Kia Motors Corp. to recall a combined 240,000 vehicles for faulty parts.  The Ministry of Land, Infrastructure and Transport made the final decision after reviewing five cases of suspected faulty parts in 12 models made [...]

Daewoo Shipbuilding Corrects Financial Statements from 2008 to 2016

Daewoo Shipbuilding Corrects Financial Statements from 2008 to 2016

SEOUL, May 12 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering Co., a troubled shipbuilder here, changed its incorrect financial statements from 2008 to the first quarter of 2016 on Thursday, it said. Its operating profit and loss in 2012 was revised from a 486.2 billion won (US$430 million) surplus to a 72 billion won [...]

S. Korean Shipyards Outpace Chinese Rivals in April New Orders

S. Korean Shipyards Outpace Chinese Rivals in April New Orders

SEOUL, May 10 (Korea Bizwire) – South Korean shipyards came in first in terms of new orders secured in April, with their order backlog continuing to slip, industry data showed on Wednesday.  According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 340,000 compensated gross [...]

Sales of Samsung Smartphones Plunge in China Amid Galaxy Note 7 Crisis, Competition with Chinese Phone Makers

Sales of Samsung Smartphones Plunge in China Amid Galaxy Note 7 Crisis, Competition with Chinese Phone Makers

CHINA, May 10 (Korea Bizwire) – South Korean electronics giant Samsung’s recent struggles in the Chinese market saw its smartphone sales more than halved during the first quarter, with the company’s market share now languishing at 3.3 percent. While Samsung experienced one of its worst quarters in China, seeing its market share slashed by more than [...]

China Quickly Catching up with South Korea’s Core Industries

China Quickly Catching up with South Korea’s Core Industries

SEOUL, May 10 (Korea Bizwire) – The latest analysis from the Korea Institute for Industrial Economics & Trade has revealed that China will soon catch up with the quality and technology of South Korea’s core industries, further threatening Asia’s fourth-largest economy. In the report released Monday, the institute suggested that China would close the gap [...]