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. 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. 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 [...]
CHUNCHEON, Sept. 22 (Korea Bizwire) — Samsung SDS Co., an IT system affiliate of South Korea’s top conglomerate, will expand global partnerships to diversify its business portfolio and reduce its heavy reliance on sister companies, its chief executive has said. Hong Won-pyo, CEO of the IT subsidiary of Samsung Electronics Co., said his company has [...]
WASHINGTON/SEOUL, Sept. 20 (Korea Bizwire) — SK Group, an energy-to-telecom focused conglomerate, plans to invest US$10 billion over the next three years in the United States, the group’s chief has said, as it seeks to expand its presence in the world’s largest economy. SK Group Chairman Chey Tae-won made the remarks during a corporate event [...]
SEOUL, Sept. 17 (Korea Bizwire) — LG Display Co. said Tuesday it will begin a voluntary retirement program as part of cost-cutting efforts amid mounting losses from its liquid crystal display (LCD) business. The display making unit of LG Electronics Inc. said it will accept early retirement from manufacturing employees who have worked over five [...]
BERLIN, Sept. 8 (Korea Bizwire) — LG Electronics Inc. is ramping up investment to expand businesses in the built-in home appliance market to capitalize on the fast growing segment, its president said on Sunday. Song Dae-hyun, the head of LG’s home appliance and air solution division, said the company aims to become a “top-tier” player [...]