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Mahindra, SsangYong to Jointly Develop EVs to Enter U.S., China

Mahindra, SsangYong to Jointly Develop EVs to Enter U.S., China

ILSAN, Mar. 31 (Korea Bizwire) — India’s Mahindra Group and its South Korean unit SsangYong Motor Co. will jointly develop an electric vehicle (EV) using the same platform that can target large emerging green car markets in the coming years, the automotive conglomerate’s chief said Thursday. The companies are aiming to develop high-end EVs by [...]

Samsung SDI to Supply Batteries for New VW e-Golf: Source

Samsung SDI to Supply Batteries for New VW e-Golf: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s Samsung SDI Co. will supply its electric-vehicle batteries to Volkswagen’s new 2017 e-Golf, an industry source said Wednesday. “The new e-Golf equipped with a Samsung battery will go on sale in global markets this spring,” the source told Yonhap News Agency. Samsung SDI and LG Chem Ltd. [...]

S. Korean Firm Shuts Down Battery Plant in China: Source

S. Korean Firm Shuts Down Battery Plant in China: Source

SEOUL, Mar. 30 (Korea Bizwire) — South Korea’s SK Innovation Co. halted operation of its battery packing plant in China in January as its business suffered in the face of Beijing’s move to stop a subsidy to electric vehicle makers that use parts from non-Chinese manufacturers, sources said Wednesday. Orders for the joint venture between [...]

LG Expresses Strong Confidence in Safety of G6 Battery

LG Expresses Strong Confidence in Safety of G6 Battery

SEOUL, Mar. 27 (Korea Bizwire) — South Korean tech giant LG Electronics Inc. unveiled its test lab to the public for the first time to reassure customers of the safety of its flagship smartphone G6 and its battery, industry watchers said Sunday. The company last week took the press on a tour of its smartphone [...]

THAAD Spat Thwarts Duty-frees’ Plans to Expand

THAAD Spat Thwarts Duty-frees’ Plans to Expand

SEOUL, Mar. 12 (Korea Bizwire) — South Korean duty-free operators are holding back from expanding their businesses on grim prospects that the intensifying trade spat between South Korea and China over the U.S. anti-missile system will further weigh down sales, industry sources said Sunday. HDC Shilla Co., a latecomer in the local duty-free industry, may [...]

Parliament Passes Law Requiring License for ‘Pet Dog Factories’

Parliament Passes Law Requiring License for ‘Pet Dog Factories’

SEOUL, March 3 (Korea Biziwre) – The National Assembly has passed a law requiring those who run “pet dog factories” to get business licenses from provincial governments, the Ministry of Agriculture, Food and Rural Affairs said Friday.  The assembly passed the legislation Thursday to enhance hygiene and prevent ill treatment of dogs at the factories, [...]

Experts Predict Jobs Vulnerable to Robots and AI

Experts Predict Jobs Vulnerable to Robots and AI

SEOUL, Jan. 4 (Korea Bizwire) – Artificial intelligence and robotics experts surveyed by the Korea Employment Information Service have predicted that within ten years, more than half of the working population will be employed in professions highly replaceable by AI and robots.  Technological advancement will greatly improve the abilities of the machines, experts said, giving [...]

S. Korea Sets Sights on ‘Cross-Border Financing Hub’

S. Korea Sets Sights on ‘Cross-Border Financing Hub’

SEOUL, Dec. 8 (Korea Bizwire) – South Korea has decided to reset its push to become a regional financial hub, reflecting a change in related global circumstances, authorities announced Thursday.  Despite the government’s initiative that started in 2008, foreign financial firms have withdrawn or scaled down their businesses in Asia’s fourth-biggest economy.  In a relevant [...]

Samsung’s Growing Legal Woes with Galaxy Note 7 Users

Samsung’s Growing Legal Woes with Galaxy Note 7 Users

SEOUL, Dec. 5 (Korea Bizwire) – Although Samsung Electronics was quick to let go of its Galaxy Note 7, many of its customers weren’t, and the electronics giant is not willing to compromise in lawsuits over its faulty phablet.  According to sources, Samsung has retained the services of Lee & Ko, a well respected local [...]

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 [...]