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Hyundai Motor Ties Up with Michelin for EV Tires

Hyundai Motor Ties Up with Michelin for EV Tires

SEOUL, Nov. 15 (Korea Bizwire) — South Korea’s top automaker Hyundai Motor Co. said Wednesday that it has tied up with French tiremaker Michelin to develop next-generation tires for electric vehicles. The tie-up agreement on technological cooperation was signed between Yang Woong-cheol, a Hyundai Motor vice chairman, and his Michelin counterpart Florent Menegaux at Michelin’s [...]

SK Planet’s Turkish Unit Sets Record Daily Transactions

SK Planet’s Turkish Unit Sets Record Daily Transactions

SEOUL, Nov. 14 (Korea Bizwire) — SK Planet Co., the operator of local e-commerce platform 11st, said Tuesday its Turkish unit posted 42 billion won (US$37.5 million) in transactions during an online shopping event held last week, marking the highest daily ever record. The new peak was set during a shopping promotion held by n11, [...]

Doosan Infracore Enjoys Extended Brisk Sales in Chinese Market

Doosan Infracore Enjoys Extended Brisk Sales in Chinese Market

SEOUL, Nov. 13 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, continued to expand its presence in China’s excavator market, as the world’s No. 2 economy increased spending on infrastructure, industry sources said Monday. According to observers, Doosan Infracore sold 769 excavators in China last month, almost doubling from a year [...]

Samsung Electronics’ Net Profit More than Doubles on-year in Q3

Samsung Electronics’ Net Profit More than Doubles on-year in Q3

SEOUL, Oct. 31 (Korea Bizwire) — Samsung Electronics Co. on Tuesday said its third-quarter net profit more than doubled on-year, mainly led by strong returns from its chip business amid an industrywide boom. Net profit came to 11.1 trillion won (US$9.87 billion), jumping from 4.53 trillion won posted a year earlier, the company said through [...]

Exports by Startups to Hit Record US$20 Billion This Year: KITA

Exports by Startups to Hit Record US$20 Billion This Year: KITA

SEOUL, Oct. 27 (Korea Bizwire) — Exports by South Korea’s venture startups will likely hit a record US$20 billion this year helped by surging shipments of instrumentation and control devices and semiconductor production equipment to China and Vietnam, industry data showed Friday. The amount reached $14.7 billion for the first nine months this year, up [...]

Naver Pressed for Transparency After Admission of Compromised News Editing

Naver Pressed for Transparency After Admission of Compromised News Editing

SEOUL, Oct. 26 (Korea Bizwire) — South Korea’s No. 1 portal Naver Corp. is under growing pressure to reinvent itself after admitting to intentionally editing news rankings, industry officials said Thursday, one of the suspicions that has long dogged the company valued at over 26 trillion won (US$23.06 billion). Naver Sports admitted to rearranging the [...]

Samsung’s Sales of Biosimilars Hits US$257 mln in Europe Through Q3

Samsung’s Sales of Biosimilars Hits US$257 mln in Europe Through Q3

SEOUL, Oct. 25 (Korea Bizwire) — South Korean pharmaceutical firm Samsung Bioepis Co. saw its sales of biosimilar products released in Europe hit US$257 million through the third quarter of this year, data showed Wednesday. Samsung Bioepis said the sales of Benepali released in Europe came to $253 million over the January-September period, compared with [...]