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Hyundai, Kia Diesel Car Sales Fall for 3 Straight Years

Hyundai, Kia Diesel Car Sales Fall for 3 Straight Years

SEOUL, Feb. 18 (Korea Bizwire) — Sales of diesel cars made by Hyundai Motor Co. and its corporate cousin, Kia Motors Corp., have steadily fallen for the past three years due to stricter emission regulations, industry data showed Monday. Diesel-powered sales accounted for 33.8 percent of 1,013,259 sedans and recreational vehicles sold by Hyundai and [...]

Samsung Falls to No. 2 Smartphone Vendor in Thailand in Q4

Samsung Falls to No. 2 Smartphone Vendor in Thailand in Q4

SEOUL, Feb. 14 (Korea Bizwire) — Samsung Electronics Co.’s smartphone shipments sharply fell in Thailand in the fourth quarter from a year earlier, losing its top title to Chinese rival Oppo, an industry tracker said Thursday. The South Korean tech giant released just over 1 million smartphones in Thailand in the October-December period, taking up [...]

Mercedes-Benz Outsells Local Carmakers for 4th-place Finish in Jan.

Mercedes-Benz Outsells Local Carmakers for 4th-place Finish in Jan.

SEOUL, Feb. 11 (Korea Bizwire) — Mercedes-Benz outsold local carmakers to finish fourth in domestic sales in January, industry data showed Monday. The South Korean unit of the German automaker sold 5,796 vehicles last month, equal to 4 percent of the total 114,632 vehicles. The sum places it fourth after Hyundai Motor (31.2 percent), Kia [...]

Samsung’s Galaxy M Series Phones Sells Out Minutes After Launch in India

Samsung’s Galaxy M Series Phones Sells Out Minutes After Launch in India

SEOUL, Feb. 6 (Korea Bizwire) — Samsung Electronics Co.’s new mid-level smartphone, tailored for the Indian market, sold out three minutes after going on sale on the country’s Amazon site, the tech giant said Wednesday. The South Korean company, citing the retailer, said the standard M10 and larger M20 phone sales in the first day [...]

POSCO Net Sinks 36 pct on Valuation Loss, Higher Taxation in 2018

POSCO Net Sinks 36 pct on Valuation Loss, Higher Taxation in 2018

SEOUL, Jan. 30 (Korea Bizwire) — POSCO, South Korea’s biggest steelmaker, said Wednesday that its net profit dropped 36 percent last year from a year earlier on a one-off valuation loss, reduced gains from asset sales and higher taxation. Net profit reached 1.89 trillion won (US$1.69 billion) on a consolidated basis, compared with a net [...]

LG Electronics, Naver Sign MOU on Robot R&D

LG Electronics, Naver Sign MOU on Robot R&D

SEOUL, Jan. 30 (Korea Bizwire) — South Korean home appliance maker LG Electronics Inc. and portal operator Naver Corp. on Wednesday agreed to jointly develop an advanced guidance robot based on the high-tech mobility platform. LG Electronics and Naver’s R&D subsidiary signed a memorandum of understanding (MOU) to collaborate on research and development of robot [...]

SKT, Grab Launch Joint Venture for SE Asian Market

SKT, Grab Launch Joint Venture for SE Asian Market

SEOUL, Jan. 30 (Korea Bizwire) — South Korea’s top mobile carrier SK Telecom Co. said Wednesday it will partner with Grab, Southeast Asia’s largest ride-hailing app, to provide real-time navigation services based on big data. SK Telecom and Grab signed an agreement to establish a joint venture, Grab Geo Holdings, in charge of developing advanced [...]