SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Mobis Co., South Korea’s biggest auto parts maker, said Wednesday it will invest US$50 million in a U.S. light detection and ranging (LiDAR) company for autonomous driving technologies. Hyundai Mobis has recently partnered with Velodyne Lidar, a world-leading LiDAR sensors provider, in order to mass-produce Level 3 autonomous [...]
SEOUL, Oct. 21 (Korea Bizwire) — BMW Group Korea said on Monday that it expects to sell over 10,000 MINI models in South Korea this year amid efforts to regain ground following a sales drop caused by some cars catching fire last year. The German carmaker is on track to sell more than 10,000 MINI [...]
SEOUL, Oct. 15 (Korea Bizwire) — Samsung C&T Corp., a construction and fashion unit of Samsung Group, said Tuesday that it aims to accelerate the global expansion of its fashion brand BEANPOLE through renewal efforts. Celebrating its 30th anniversary, BEANPOLE announced its renewal move to rebrand as a “heritage” brand that embraces South Korea’s unique [...]
SEOUL, Oct. 15 (Korea Bizwire) — SK Global Chemical Co., a chemical affiliate of South Korea’s energy giant SK Innovation Co., said Tuesday it will acquire French chemical firm Arkema S.A.’s functional polyolefins business for 335 million euros (US$369 million) in the latest move to boost its packaging business. SK Global Chemical said the acquisition [...]
SEOUL, Oct. 10 (Korea Bizwire) — Samsung Display Co., a major display panel maker here, said Thursday it will invest 13.1 trillion won (US$10.9 billion) by 2025, to upgrade its liquid crystal display (LCD) production facilities and produce more advanced displays amid a slump and increased competition. Panel makers here, including its large local rival [...]
SEOUL, Oct. 8 (Korea Bizwire) — South Korea’s top portal operator, Naver Corp., aims to transform itself into a “technology platform” that will enhance the convenience of users, its CEO said Tuesday. “The year 2020 will be the first year in which Naver becomes a user-led technology platform,” CEO Han Seong-sook said during an annual [...]
SEOUL, Sept. 29 (Korea Bizwire) — Samsung Electronics Co., the world’s largest maker of memory chips and smartphones, is likely to report a 60.2 percent plunge in its third-quarter operating profit, hit by continuing falls in chip prices, an industry report showed Sunday. According to the report by Seoul-based financial market tracker FnGuide, Samsung is [...]
SEOUL, Sept. 26 (Korea Bizwire) — The heads of South Korea’s major conglomerates have recently called for a series of countermeasure strategies, labeling the situation of heightened uncertainty at home and abroad as an “unprecedented crisis.” In particular, they say that such a crisis is not a matter to be resolved in a short period [...]
SEOUL, Sept. 25 (Korea Bizwire) — LG Group is trying to chart a new course in its second year under the leadership of a 40-something chairman who is adding a dose of “do whatever it takes” to the old “don’t overdo it” mindset. South Korea’s fourth-largest conglomerate, whose businesses range from electronics and telecom to [...]
SEOUL, Sept. 24 (Korea Bizwire) — Samsung Group is planning to announce a massive investment plan next month to upgrade its display panel production facilities in South Korea, industry sources said Tuesday, as the nation’s largest conglomerate seeks to enhance profitability in the large display business with its latest technologies. Samsung is expected to unveil [...]