SEOUL, Sept. 25 (Korea Bizwire) — U.S. wireless chipmaker Broadcom Inc. said Monday it plans to seek an appeal against the South Korean regulator’s decision to slap a 19.1 billion-won (US$14.3 million) fine for its unfair business practices against Samsung Electronics Co. In a statement, Broadcom said it was “disappointed” over the Fair Trade Commission’s (FTC) decision, [...]
SEOUL, Sept. 22 (Korea Bizwire) – A recall order has been issued for imported electric kickboards, including those from Xiaomi that Coupang imports from China, due to potential electric shock and fire risks. In addition, strollers, toys and name stickers commonly used by elementary school students at the start of new semesters were also recalled. This [...]
SEOUL, Sept. 22 (Korea Bizwire) – The Korea Fair Trade Commission (KFTC) has ruled that the U.S. semiconductor company Broadcom acted unfairly by forcing unfavorable long-term contracts (LTAs) on Samsung Electronics and disrupting the supply of smartphone components. As a result, the KFTC has provisionally imposed a fine of 19.1 billion won on Broadcom’s U.S. headquarters. [...]
SEOUL, Sept. 20 (Korea Bizwire) – Hyundai Motor Company and its labor union have decided to hire more younger workers for a new electric vehicle factory in Ulsan. Employees in their 20s and 30s will make up 30 percent of the workforce. The new Ulsan EV plant, set to be completed in 2025, will have 30 [...]
SEOUL, Sept. 19 (Korea Bizwire) — LG Electronics Inc. said Tuesday it held a global conference aimed at enhancing its smart TV content and platform business. The South Korean tech company said some 300 content developers and business partners from 30 countries attended the webOS Partner Summit, held at LG Science Park in western Seoul, [...]
SEOUL, Sept. 13 (Korea Bizwire) — With the one year anniversary of Samsung Electronics Co.’s release of its mid- to long-term environmental management strategy nearing, the South Korean tech giant has said it was on the path toward achieving net zero companywide by 2050. In September last year, Samsung unveiled the New Environmental Strategy, detailing [...]
SEOUL, Sept. 11 (Korea Bizwire) –Hyundai Engineering & Construction Co. (Hyundai E&C) said Monday it has signed a partnership deal with a local energy IT startup via an equity investment in an effort to break into the power brokerage business. Hyundai E&C, South Korea’s No. 2 builder, didn’t disclose the amount of its investment in [...]
SEOUL, Sept. 11 (Korea Bizwire) — KT&G Corp., South Korea’s dominant tobacco company, said Monday it plans to expand its production facilities in Indonesia, with an aim to start operations in 2026. KT&G currently has a tobacco manufacturing plant in Surabaya and plans to build another one in the Southeast Asian country. The new Indonesian [...]
SEOUL, Sept. 11 (Korea Bizwire) — SKC Co., a South Korean manufacturer of secondary battery parts and advanced materials, said Monday it is acquiring a stake in a U.S. semiconductor packaging startup as it accelerates the drive for chip post-processing. The investment in Chipletz, an Austin-based fabless company, will give SKC an approximately 12 percent [...]
SEOUL, Sept. 3 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Sunday it has received orders to provide its products for Saudi Arabia’s Neom megacity project and Argentina’s lithium mine excavation plan. HD Hyundai Construction Equipment is the construction unit of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group. In the Argentina deal, the company [...]