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Philips Provides Update on Earlier Announced Voluntary CPAP, BiPAP and Mechanical Ventilator Recall Notification*

Amsterdam, the Netherlands, Nov. 14 (Korea Bizwire) – On June 14, 2021, Royal Philips’ (NYSE: PHG, AEX: PHIA) subsidiary, Philips Respironics, initiated a voluntary recall notification* for certain sleep and respiratory care products to address identified potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam in these devices. Following the substantial ramp-up of its [...]

Recalls On the Rise with Greater Supply of EVs

SEOUL, Sept. 27 (Korea Bizwire) — As more electric vehicles (EVs), both new and old, are being sold locally, South Korea is seeing a higher number of EV recalls caused by various defects. Rep. Park Sang-hyuk of the ruling Democratic Party said that 90,746 EVs were recalled last year, according to a report from the [...]

Vehicle Recalls Top 2 mln in Jan.-Aug. Period

SEOUL, Sept. 22 (Korea Bizwire) — The number of vehicles recalled in South Korea surpassed 2 million in the first eight months of this year, with more quality problems discovered in electric vehicles, government data showed Wednesday. A total of 1,829 models, which amount to some 2.24 million vehicles sold in the nation, were recalled [...]

Philips Starts Repair and Replacement Program of First-generation DreamStation Devices in the US in Relation to Earlier Announced Recall Notification*

Amsterdam, the Netherlands, Sept. 1 (Korea Bizwire) – Royal Philips (NYSE: PHG; AEX: PHIA) today announced an update in connection with the June 14, 2021 recall notification* for specific Philips sleep and respiratory care devices that was issued to address potential health risks related to the polyester-based polyurethane (PE-PUR) sound abatement foam component in these devices. More [...]

LG Chem’s Shares Tumble Over 10 pct on GM EV Recall

SEOUL, Aug. 23 (Korea Bizwire) — Shares of South Korean chemical firm LG Chem Ltd. plunged more than 10 percent on the Seoul bourse Monday, following American automaker General Motors’ decision to additionally recall Bolt electric vehicles equipped with its subsidiary’s batteries over fire risks. Shares of LG Chem, which wholly owns battery maker LG [...]

GM to Recall Another 73,000 Bolt EVs over Fire Risks

SEOUL, Aug. 21 (Korea Bizwire) — American automaker General Motors said it will expand the recall of Chevy Bolt electric vehicles equipped with South Korean supplier LG’s batteries over fire risks, which is expected to additionally cost about US$1 billion. The latest recall covers 73,000 Bolt EVs and EUVs from model years 2019 through 2022 [...]

LG Electronics, LG Chem Set Aside More than 325 bln Won for Bolt EV Recall Costs

SEOUL, Aug. 10 (Korea Bizwire) — LG Electronics Inc. and LG Chem Ltd. on Tuesday decided to set aside a combined 325.6 billion won (US$282.8 million) in provisions for costs related to General Motors (GM) Co.’s Chevrolet Bolt electric vehicle (EV) recall as they revised down their second-quarter operating profits. In a regulatory filing, LG [...]

Frustration Grows as Kona EV Recall Drags On

SEOUL, Aug. 3 (Korea Bizwire) — Customers are up in arms as a recall of Hyundai Motor Co.’s Kona EV, which sparked controversy over safety following a series of fires, is being delayed. Since March, the company was found to have recalled only 36 percent of 25,083 Kona EVs in the country. At this speed, [...]

Senior Japanese Embassy Diplomat Recalled Home After Disparaging Remarks Against Moon

SEOUL/TOKYO, Aug. 1 (Korea Bizwire) — A senior Japanese Embassy diplomat in Seoul has been recalled home after causing a stir with remarks disparaging South Korean President Moon Jae-in’s efforts to improve relations between the two countries, a Japanese paper reported Sunday. Hirohisa Soma, deputy chief of mission at the embassy, has been criticized both [...]

Philips Issues Recall Notification* to Mitigate Potential Health Risks Related to the Sound Abatement Foam Component in Certain Sleep and Respiratory Care Devices

Amsterdam, the Netherlands, June 14 (Korea Bizwire) – Following the company update on April 26, 2021, Royal Philips (NYSE: PHG; AEX: PHIA) today provides an update on the recall notification* for specific Philips Bi-Level Positive Airway Pressure (Bi-Level PAP), Continuous Positive Airway Pressure (CPAP), and mechanical ventilator devices to address identified potential health risks related to the polyester-based polyurethane (PE-PUR) [...]