SEOUL, March 16 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Wednesday it has dropped the Samsung brand from its new company name as the deal with the South Korean conglomerate over the brand’s use ends in August. Starting Wednesday, the company will use the new name of [...]
SEOUL, Aug. 19 (Korea Bizwire) — Major South Korean credit card issuer Samsung Card Co. said Thursday it has decided to sell its entire 19.9 percent stake in Renault Samsung Motors Corp. Samsung Card said it recently made the decision and selected Samsung Securities Co. as the lead manager of the stake sale. The card [...]
SEOUL, Aug. 9 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Monday it will partner with Lynk & Co. to develop an environment friendly vehicle in the Korean market. Renault Group has announced it will form a joint venture with Geely, the Chinese owner of Volvo Cars, to [...]
SEOUL, July 26 (Korea Bizwire) — South Korean units of three foreign carmakers suffered the worst sales slump since 1998 in the first half of this year in the face of toughening competition with their Korean rivals and luxury German brands, industry data showed Monday. The Korean units of GM Korea Co., Renault Samsung Motors [...]
SEOUL, June 20 (Korea Bizwire) — South Korean units of three foreign carmakers are finally pivoting to a more electric future in the face of toughening competition with their Korean rivals and luxury German brands as a way to survive in the changing business environment. The Korean units of three foreign carmakers — GM Korea [...]
BUSAN, May 3 (Korea Bizwire) — Unionized workers at Renault Samsung Motors Corp. said Monday they have decided to lay down their tools again to demand a wage hike. Renault Samsung’s 1,900-strong workforce will launch an eight-hour strike at their plant in Busan, around 450 kilometers south of Seoul, on Tuesday as they are not [...]
SEOUL, Feb. 5 (Korea Bizwire) — Management crises are sweeping over South Korean units of foreign automakers. Financially-troubled SsangYong Motor Co. stalled operation of its plant in Pyeongtaek, 70 kilometers south of Seoul, last Wednesday after several subcontractors refused to supply essential parts and demanded payment. The South Korean unit of Indian carmaker Mahindra & [...]
SEOUL, Jan. 7 (Korea Bizwire) — Renault Samsung Motors Corp. said Thursday it will reduce the number of executives and their salaries as the company has entered emergency management amid the COVID-19 pandemic. The South Korean unit of Renault S.A. has suffered a sharp decline in sales due to lack of new models and the [...]
GAPYEONG, Nov. 11 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., will focus on promoting SUV models to revive sales amid the coronavirus pandemic, the company’s country manager said Wednesday. Renault Samsung has suffered a sharp decline in sales this year in Asia’s fourth-biggest economy due to lack of [...]
SEOUL, Sept. 23 (Korea Bizwire) — Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Wednesday it will start exporting the XM3 sport utility vehicle to Europe next year. Renault Samsung manufactures the XM3 at its sole plant in Busan, 450 kilometers south of Seoul, and the compact SUV will be sold [...]