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Samsung, LG Add New Logistics Facilities in U.S. over Safeguard Measures

Samsung, LG Add New Logistics Facilities in U.S. over Safeguard Measures

SEOUL, Jan. 30 (Korea Bizwire) — Samsung Electronics Co. and LG Electronics Inc. said Tuesday they have set up new logistics facilities in the United States in an apparent move to better cope with U.S. safeguard measures. Samsung Electronics America has signed a deal with a real-estate firm to lease a 421,000-square-foot facility in Edgefield [...]

Hankook Tire Expands Supply Deal with Scania

Hankook Tire Expands Supply Deal with Scania

SEOUL, Jan. 29 (Korea Bizwire) — Hankook Tire Manufacturing Co., the world’s seventh-biggest tiremaker by sales, said Monday it will supply tires to all Scania’s construction vehicles. Hankook Tire began to supply original equipment (OE) tires to the European commercial vehicle company in November 2016. In its latest deal, the tiremaker will supply OE tires [...]

Sluggish iPhone X Sales Rumors Hurting Earnings Forecast for Parts Suppliers

Sluggish iPhone X Sales Rumors Hurting Earnings Forecast for Parts Suppliers

SEOUL, Jan. 29 (Korea Bizwire) — Sluggish iPhone X sales rumors are adversely affecting earnings forecasts for South Korean electronic parts suppliers, market watchers said Sunday. Local stock market and industry watchers said earnings estimates for chipmakers SK hynix Inc. and Samsung Display, as well as LG Display and LG Innotek, have been downgraded for [...]

S. Korean Yards Hold Largest Order Backlogs Among Global Shipbuilders

S. Korean Yards Hold Largest Order Backlogs Among Global Shipbuilders

SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s leading shipyards had the top three order backlogs among global shipbuilders at the end of 2017 due mainly to work received before the worldwide drop in demand, industry data showed Sunday. According to Clarkson Research’s latest World Shipyard Monitor, Daewoo Shipbuilding and Marine Engineering Co. (DSME) Okpo, [...]

WTO Petition Against US Tariffs Offers Little Comfort to South Korean Companies

WTO Petition Against US Tariffs Offers Little Comfort to South Korean Companies

SEOUL, Jan. 26 (Korea Bizwire) — The South Korean government’s plan to file a WTO petition against U.S. safeguard measures is unlikely to buoy the spirits of local exporters, as previous cases have proven ineffective. Following the U.S. government’s decision to impose anti-dumping duties on South Korean washing machines and solar panels, the South Korean [...]

S. Korea’s Petrochemical Exports Hit Record High in 2017

S. Korea’s Petrochemical Exports Hit Record High in 2017

SEOUL, Jan. 24 (Korea Bizwire) — Exports of oil and related goods by South Korean refiners reached an all-time high last year on strong demand and higher oil prices, industry data showed Wednesday. Oil and petrochemical goods exported by SK Innovation Co., GS-Caltex Co., S-Oil Corp., Hyundai Oilbank Co. and others reached 472.32 million barrels [...]

Sasmung Electronics to Share Wage Hike Burden With Partners

Sasmung Electronics to Share Wage Hike Burden With Partners

Seoul, Jan. 22 (Korea Bizwire) — Samsung Electronics will take into consideration the recent minimum wage hike when negotiating the price of goods with small and medium-sized business partners. The electronics giant has reportedly decided to reflect this year’s wage hike in business deals with SMEs in an effort to share the increased financial burden. Business [...]

Employees of Samsung Electronics, SK Hynix to Get Huge Bonuses: Sources

Employees of Samsung Electronics, SK Hynix to Get Huge Bonuses: Sources

SEOUL, Jan. 19 (Korea Bizwire) – Employees of South Korea’s two major semiconductor manufacturers are set to receive big bonuses this month for their strong performance last year amid the global boom for chip industries, industry sources said Friday. Samsung Electronics Co. workers in the semiconductor sector will receive annual bonuses, called the Overall Performance Incentive, amounting to up to 50 percent of their annual salary, on Jan. 31, [...]