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Hyundai Mulls Pulling Grandeur out of U.S. Market

Hyundai Mulls Pulling Grandeur out of U.S. Market

SEOUL, Nov. 28 (Korea Bizwire) — Hyundai Motor Co. is considering suspending the sales of the Grandeur sedan, exported under the name Azera, in the United States, industry sources said Sunday, due to its sluggish sales there. While Hyundai announced the launch of the sixth-generation Grandeur earlier in November, sources said the company would not [...]

S. Korea to Promote Fintech Ties with Silicon Valley

S. Korea to Promote Fintech Ties with Silicon Valley

SEOUL, Nov. 4 (Korea Bizwire) — South Korea said Friday it will strengthen partnerships with Silicon Valley on financial technology, called fintech. The Fintech Center of Korea signed memorandums of understanding (MOUs) with two high-profile organizations — 500 Startups and Silicon Valley Forum — for the initiative on the sidelines of a South Korean Fintech [...]

Kia Motors Unveils 4 Modified Cars at U.S. Auto Show

Kia Motors Unveils 4 Modified Cars at U.S. Auto Show

SEOUL, Nov. 4 (Korea Bizwire) — Kia Motors Corp., South Korea’s second-largest carmaker, said Friday it unveiled four modified cars at an annual U.S. auto show, including a self-driving Sorento equipped with tracks. The annual trade fair, hosted by the Specialty Equipment Market Association this week in Las Vegas, showcased aftermarket modified cars from automakers [...]

KT, LG Uplus Join Hands to Commercialize Internet of Things

KT, LG Uplus Join Hands to Commercialize Internet of Things

SEOUL, Nov. 3 (Korea Bizwire) — KT Corp. and LG Uplus Corp., South Korea’s second- and third-largest mobile carriers, unveiled a deal Thursday to work together on commercializing the Internet of Things (IoT) technology. The IoT technology, which allows everyday appliances to link to the Internet, is seen as one of the major technological developments [...]

Samsung Electronics’ M&As Focus on Cloud, B2B Services

Samsung Electronics’ M&As Focus on Cloud, B2B Services

SEOUL, Jul. 19 (Korea Bizwire) — Samsung Electronics’ mergers and acquisitions over the past 10 years indicate the tech mogul is betting its business on cloud and business-to-business services, corporate watchers said Tuesday. Samsung pushed through 22 M&As since 2007, including Canada’s digital ad startup AdGear in May and U.S. cloud computing firm Joyent in [...]

Hyundai Stepping Up Its Electric Car Business

Hyundai Stepping Up Its Electric Car Business

SEOUL, Jul. 18 (Korea Bizwire) — Hyundai Motor Co., South Korea’s dominant automobile maker, will step up efforts to expand infrastructure for electric vehicle (EVs) use by local drivers, as it aims to sell at least 4,800 Ioniq Electric units in the country this year alone, company officials said. “We plan to launch a mobile [...]

LG Chem to Supply Batteries for NASA’s Spacesuits

LG Chem to Supply Batteries for NASA’s Spacesuits

SEOUL, Jul. 18 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemicals maker, will start supplying lithium-ion batteries for NASA’s spacesuits in the second half of the year, the company said Monday. The contract with NASA marked the first such deal for a Korean company, LG Chem said. LG Chem said its new battery’s [...]

K-food Boom Catches on Outside of Usual Customer Groups

K-food Boom Catches on Outside of Usual Customer Groups

SEOUL, Jul. 18 (Korea Bizwire) — From instant noodles to bread and beef broth soup, Korean food is gaining interest overseas from consumers outside of the usual group of Korean residents and a handful of Korea followers, a leading trade body said Monday. South Korea’s instant noodles, ramyeon, ranks second after Taiwan in the Chinese [...]

Global Experts on Private Equity Funds Pick Investment-Worthy Korean Businesses

Global Experts on Private Equity Funds Pick Investment-Worthy Korean Businesses

SEOUL, June 2 (Korea Bizwire) – “The consumer market in Korea is high developed, so I believe Korea’s services sector is the most promising,” stated Stefan Zuschke, the president of BC Partners.    “If I invested in a Korean business, I would invest in one of Korea’s IT corporations,” claimed VSS executive director Christopher Russell. And [...]

Pharmaceutical Firms Expect Stronger Sales During China’s Labor Day Holiday

Pharmaceutical Firms Expect Stronger Sales During China’s Labor Day Holiday

SEOUL, Apr. 28 (Korea Bizwire) — South Korean pharmaceutical companies are strengthening their promotions to sell more of their mainstay products to incoming Chinese tourists during China’s Labor Day holiday, industry sources said Thursday. Local pharmaceutical firms such as Handok and Kyung Nam Pharm Co. have rolled up their sleeves to attract as many Chinese [...]