SEOUL, July 27 (Korea Bizwire) — South Korea’s auto output sank nearly 20 percent to an 11-year low in the first half of the year due to the coronavirus outbreak, industry data showed Monday. Industry leader Hyundai Motor Co. and four other automakers produced 1.63 million vehicles in the January-June period, down 19.8 percent from [...]
SEOUL, March 2 (Korea Bizwire) — South Korean companies that have reported novel coronavirus-infected workers at their manufacturing sites in the country’s virus hotspots will resume production this week after a temporary shutdown, industry insiders said Monday. South Korea has so far reported more than 4,200 new coronavirus cases, with more than 87 percent of [...]
SEOUL, Feb. 5 (Korea Bizwire) – South Korean carmakers may face hefty production losses as the rapidly spreading coronavirus outbreak is aggravating shortages of parts from China without signs of slowing. The country’s five carmakers — Hyundai Motor Co., Kia Motors Corp., GM Korea Co., SsangYong Motor Co. and Renault Samsung Motors Corp. — have [...]
SEOUL, Jan. 31 (Korea Bizwire) — The confectionery industry is being threatened by the decreasing population of toddlers and teens, major consumers of confectionery goods, as the birth rate continues to fall in South Korea. The Korea Agro-Fisheries & Food Trade Corporation reported that confectionery production began to fall after reaching a peak in 2015 [...]
SEOUL, Jan. 24 (Korea Bizwire) — Hyundai Motor Co. and its labor union are in talks for an increase in production volume of the Grandeur sedan to meet rising demand for the face-lifted model launched late last year, the company said Friday. “The company and the union are in talks to produce more Grandeurs as [...]
SEJONG, Oct. 31 (Korea Bizwire) – South Korea’s industrial output dropped in September to snap a four-straight month rise on a slump in auto output and mobile devices, a government report showed Monday. Production in the mining, manufacturing, gas and electricity industries fell 2 percent last month from a year ago, according to the report [...]
SEJONG, Oct. 11 (Korea Bizwire) – The South Korean economy has been experiencing a bumpy recovery as a slowdown in production and exports dragged down an apparent upturn in domestic demand, a government report said Tuesday. “The economy has been on a flaccid recovery track as private consumption and investment have made a turnaround in [...]
SEOUL, Sept. 13 (Korea Bizwire) – A number of South Korean businesses were forced to halt their production and assembly lines for safety inspections Tuesday, one day after a powerful quake rocked the country. Nearly a dozen major industrial facilities, including a power plant, had their operations halted after a 5.8-magnitude earthquake jolted the nation, [...]