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In-flight Duty-free Sales Rise Despite Opening of Airport Duty-free Stores

In-flight Duty-free Sales Rise Despite Opening of Airport Duty-free Stores

SEJONG, Oct. 13 (Korea Bizwire) — In-flight duty-free sales rose between June and September this year, data showed Sunday, defying market expectations that they may decline after the opening of on-arrival duty-free shops. South Korea’s first on-arrival duty-free stores opened at Incheon International Airport in late May in a bid to reduce discomfort experienced by [...]

Tech Startups Bring Changes to Conservative Construction Sector

Tech Startups Bring Changes to Conservative Construction Sector

SEOUL, Oct. 11 (Korea Bizwire) — The construction segment, traditionally considered to be somewhat conservative and manpower-reliant, is bracing for a change with more and more tech startups in queue to instill a new breath into the industry — digitalization that could boost efficiency and productivity. According to data from the Korea Institute of Startup [...]

Samsung Electronics’ Q3 Earnings More than Halve, Beat Market Consensus

Samsung Electronics’ Q3 Earnings More than Halve, Beat Market Consensus

SEOUL, Oct. 8 (Korea Bizwire) — Samsung Electronics Co. said Tuesday its operating earnings plunged 56 percent in the third quarter from a year earlier, mainly hit by continuing falls in global chip prices, but its performance was better than the market had expected. The operating profit was estimated at 7.7 trillion won (US$6.4 billion) [...]

Mercedes-Benz Outshines in Korean Auto Market in September

Mercedes-Benz Outshines in Korean Auto Market in September

SEOUL, Oct. 6 (Korea Bizwire) — Mercedes-Benz ranked third in September sales after Hyundai Motor Co. and Kia Motors Corp., beating three other domestic carmakers, industry data showed Sunday. The German carmaker sold 7,707 vehicles in the Korean passenger car market last month, a whopping rise from 1,943 units a year earlier, according to data [...]

Eco-friendly Auto Sales Shoot Up 22 pct Through Aug.

Eco-friendly Auto Sales Shoot Up 22 pct Through Aug.

SEOUL, Sept. 29 (Korea Bizwire) — Sales of eco-friendly autos in South Korea surged 22 percent in the first eight months of the year, driven by demand from fuel-conscious consumers and hefty state subsidies, industry data showed Sunday. According to the data compiled by the Korea Automobile Manufacturers Association (KAMA), 69,834 eco-friendly cars were sold [...]

Hyundai, Cummins to Collaborate on Hydrogen Commercial Cars

Hyundai, Cummins to Collaborate on Hydrogen Commercial Cars

SEOUL, Sept. 27 (Korea Bizwire) – Hyundai Motor Co. said Friday it will partner with American engine-maker Cummins Inc. to supply hydrogen fuel-cell powertrains to U.S. commercial vehicle companies. The two recently signed an initial pact in California to jointly develop and commercialize electric and fuel-cell powertrains combining Hyundai’s fuel-cell systems and Cummins’ electric powertrain, [...]