SEOUL, April 5 (Korea Bizwire) — South Korean units of three foreign carmakers posted a 24 percent on-year drop in their domestic sales in the first quarter of the year, suffering the worst performance since the 2009 financial crisis, industry data showed Monday. From January to March, GM Korea Co., Renault Samsung Motors Corp. and [...]
SEOUL, April 2 (Korea Bizwire) — Hyundai Motor Co. and affiliate Kia Corp., South Korea’s two biggest carmakers, said Friday their combined U.S. sales jumped 76 percent in March from a year earlier on robust demand for their SUV models. Hyundai and Kia sold a total 141,926 vehicles in the United States last month from [...]
SEOUL, April 1 (Korea Bizwire) — South Korean carmakers’ sales rose 12 percent last month from a year earlier helped by robust overseas demand for SUVs amid the COVID-19 pandemic, industry data showed Thursday. The five carmakers — Hyundai Motor Co., Kia Corp., GM Korea Co., Renault Samsung Motors Corp. and SsangYong Motor Co. — [...]
SEOUL, March 30 (Korea Bizwire) — South Korea’s top food delivery app Baedal Minjok, or Baemin, saw its sales nearly double in 2020 from a year earlier amid the coronavirus pandemic, its operator said Tuesday. Baemin’s top line stood at 1.09 trillion won (US$960 million) last year, up 94.4 percent from a year earlier, according [...]
SEOUL, March 29 (Korea Bizwire) — South Korean chipmaker Magnachip Semiconductor Corp. has said it will be sold to a Chinese private equity fund for about US$1.4 billion. Magnachip, listed on the New York Stock Exchange (NYSE), recently announced that it has signed an agreement with Wise Road Capital Ltd. and its partners to sell [...]
SEOUL, March 24 (Korea Bizwire) — Sales of South Korea’s top instant noodle makers posted strong sales in 2020 thanks to brisk demand amid the coronavirus pandemic, data showed Wednesday. Nongshim Co. said its sales of instant noodles, or “ramyeon” in Korean, came to 2.09 trillion won (US$1.85 billion) last year, up 16.3 percent from [...]
SEOUL, March 23 (Korea Bizwire) — Global TV sales are expected to decline slightly this year, but shipments of premium TVs will grow, a report showed Tuesday, boding well for South Korean makers that lead the high-end sector. Global TV shipments are projected to reach 223.09 million units in 2021, according to market researcher Omdia, [...]
SEOUL, March 22 (Korea Bizwire) — Sales of imported commercial vehicles in South Korea fell 24 percent in February from a year earlier on lower demand amid the extended coronavirus pandemic, an industry association said Monday. The number of newly registered imported commercial vehicles fell to 261 units last month from 344 a year earlier, [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s data-related technology industry expanded to be worth over 19 trillion won (US$16.76 billion) last year, a report showed Tuesday, as the country seeks to develop the industry as part of its digital New Deal initiative. Sales from the local industry reached an estimated 19.27 trillion won, up [...]
SEOUL, March 15 (Korea Bizwire) — The massive popularity of “Minari,” a drama film about a Korean American immigrant family, has led to a surge in water parsley sales in South Korea. Water parsley is commonly referred to as ‘minari’ in the Korean language. GS The Fresh, a supermarket chain operated by GS Retail Co., [...]