SEOUL, June 15 (Korea Bizwire) – Samsung Heavy Industries Co., a local shipyard, on Wednesday unveiled its detailed self-restructuring program which centers on a cut in workforce and having executives return part of their salaries. Earlier, the shipyard has said it will conduct a self-rehabilitation scheme worth 1.5 trillion won (US$1.27 billion), including asset sales [...]
SEOUL, June 15 (Korea Bizwire) – Dividend payments to the owners of South Korea’s top 10 conglomerates were tallied at 1.46 trillion won (US$1.24 billion) for the past five years, despite their firms’ sluggish earnings, data showed Wednesday. Samsung Electronics Co. Chairman Lee Kun-hee, South Korea’s richest man, topped the list with a total of [...]
SEOUL, June 15 (Korea Bizwire) – Cheil Worldwide Inc., the advertising unit of the Samsung Group, plans to raise its investment and hiring this year after its negotiations to sell a controlling stake to a French advertising giant fell apart, industry sources said Wednesday. The company, part of South Korea’s largest family-controlled conglomerate, plans to [...]
SEOUL, June 13 (Korea Bizwire) – Samsung Electronics has finally released a Batman-themed Galaxy S7 Edge called the ‘Injustice Edition’. And to no surprise, the 1,000 limited-edition models sold out just 10 minutes after they were released on Monday morning at 10 a.m. via Samsung’s online store. The company teamed up with Warner Bros. and [...]
SEOUL, June 10 (Korea Bizwire) – The names of the major smartphones that will be released later this year are stirring up interest in IT circles. Phone Arena, an IT website, announced that Samsung may name its next Note generation “7” for a synergy effect with its Galaxy S7, the best-selling smartphone of the year. A [...]
SEOUL, June 9 (Korea Bizwire) – Samsung Bioepis announced the results of clinical studies on its three biosimilars on June 8, 2016, at the Annual European Congress of Rheumatology (EULAR 2016 London) which is being held in London until June 11. The three biosimilars that are currently sold in Korea and Europe include BRENZYS (Benepali in [...]
SEOUL, June 9 (Korea Bizwire) – South Korea’s No. 1 tech firm Samsung Electronics Co. is forecast to see the combined sales of the Galaxy S7 and the Galaxy S7 Edge reach 15 million in the second quarter of this year, industry sources said Thursday. The sources estimate that Samsung’s combined shipments of the Galaxy [...]
SEOUL, June 6 (Korea Bizwire) – According to representatives from the home appliance industry, the market for electric vacuum cleaners is rapidly declining, to the tune of 2 million units annually. But amidst the decline, sales of robot and stick vacuum cleaners are on the rise. Since 2014, cordless vacuums have accounted for half of [...]
SEOUL, June 6 (Korea Bizwire) – Change is coming to Samsung, with its latest strategy part of efforts to transform itself into a developer and software-centered company. The company has recently instituted a ‘product ownership system’ in one of its wireless business departments. This pilot system is another portrayal of Samsung’s efforts to shift away [...]
NEW YORK, June 3 (Korea Bizwire) – Samsung Electronics unveiled two new fitness wearables – the Gear Fit2 and Gear IconX – at Samsung Marketing Center in New York City on June 2. The Gear Fit2 is a follow-up to the Gear Fit smartwatch released back in 2014. The new device is equipped with a [...]