SEOUL, July 3 (Korea Bizwire) – Hyundai Motor Co. said Monday its sales fell 16 percent last month from a year earlier hit by weakening overseas demand, particularly in the Chinese market. The country’s biggest carmaker by sales sold a total of 376,109 vehicles in June, down from 445,021 units a year earlier, the company [...]
SEOUL, Jul. 3 (Korea Bizwire) — South Korean carmaker Hyundai Motor Co. said Monday it took the top spot in J.D. Power’s customer satisfaction survey in China this year despite declining sales in the wake of a diplomatic row between the two countries. In 2017, Hyundai Motor took the No. 1 position back in China [...]
SEOUL, June 7 (Korea Bizwire) – South Korean retail giant Lotte will not be abandoning its businesses in China, which have been reeling from apparent retaliation after the company provided the South Korean government with land for a new THAAD anti-missile system. A Lotte official in China said Wednesday that “there is no change in [...]
SEOUL, June 7 (Korea Bizwire) – South Korea’s presidential office Cheong Wa Dae said Wednesday the ongoing deployment of the U.S. missile defense system THAAD here should be suspended at least for now, also confirming the U.S. defense system should be subject to a full-blown environmental impact assessment. “We are not saying the two launchers [...]
SEOUL, June 7 (Korea Bizwire) – South Korea’s defense ministry began preparations for a full-blown environmental impact assessment on the ongoing deployment of the U.S. THAAD missile defense system Tuesday, a ministry official said, a move that will inevitably delay its operation. The move came one day after President Moon Jae-in personally ordered a thorough study [...]
SEOUL, June 1 (Korea Bizwire) – Amid fears of further Chinese economic retaliation over the South Korean deployment of a THAAD missile defense system, duty-free stores that were scheduled to open soon are scrambling to postpone their opening date. Last week, the Korea Duty Free Shops Association (KDFA) made an official request to the Korea Customs [...]
SEOUL, Jun. 1 (Korea Bizwire) — Six in 10 South Koreans have a negative viewpoint of China’s influence on their country, according to a poll released Wednesday. In the poll of 758 adult South Koreans organized jointly by the Asan Institute for Policy Studies and several foreign institutions early this year, 60 percent negatively evaluated [...]
SEOUL, Jun. 1 (Korea Bizwire) — The de facto head of Shinsegae Co., South Korea’s leading retailer, confirmed Wednesday that the company is pulling its discount chain unit out of China. Shinsegae Vice Chairman Chung Yong-jin told reporters of the pullout at a job exhibition held in Ilsan, northwest of Seoul. Local media have reported [...]
SEJONG, May 31 (Korea Bizwire) – South Korea should convince China to accept the ongoing deployment of an advanced U.S. missile defense shield on its soil instead of trying to reverse the move, which could send the wrong signals to both Washington and Beijing, a scholar has said. The installation of a Terminal High Altitude [...]
SEOUL, May 31 (Korea Bizwire) – The Seoul Metropolitan Government said Tuesday that it is creating 200 jobs exclusively for Chinese-speaking travel interpreters, with China’s travel ban to South Korea still in effect. According to city officials, the application process will run from May 31 until June 15, and the new recruits will serve as [...]