Renault Samsung Motors Corp. and its labor union said Thursday they have reached a tentative agreement over wages and working conditions, possibly ending their drawn-out labor dispute that was feared to undermine the automaker.The union said its members will vote on whether to accept the deal on Tue
Samsung Electronics Co. said Wednesday that it showcased its latest semiconductor technologies and foundry solutions to fabless companies and design houses to expand its presence in the global market. The world's largest memory chip maker introduced its new foundry and cloud platform during the
Unionized bus drivers in Seoul, Busan and many other metropolitan cities and provinces canceled a planned strike on Wednesday after reaching last-minute wage deals with their management. Labor and management at about 200 bus companies nationwide held marathon negotiations until early Wednesday morni
The labor union at Renault Samsung Motors Corp. on Tuesday threatened to launch a full-scale strike, calling on the company to come up with better collective bargaining deals.The unionized workers of Renault Samsung, the Korean unit of French carmaker Renault S.A., said they will lay down their tool
Kia Motors Corp. announced a rendering of an entry sport-utility vehicle (SUV) ahead of its planned global launch later 2019.The entry SUV will help strengthen the country's second-biggest carmaker's SUV lineup as it expects the new model to absorb growing demand for recreational vehicles in
The mobile payment service has hit US$33.7 billion (40 trillion won) inaccumulated transaction volume in South Korea, Samsung Electronics Co. said.According to the office, Samsung Pay had 2 trillion won worth oftransactions in its first year, and surpassed the 40-trillion mark as of the end ofApril
Korea is ready to produce robots for military uses which are mimicking animals and other types of creatures to better brace for improving future battlefields, the armsprocurement agency said.The Defense Acquisition Program Administration (DAPA) rolled out its plan to activelyapply the so-called biom
South Korea is building up necessary infrastructure to position itself to better takeadvantage of the Fourth Industrial Revolution, the government said Monday.Under the Moon Jae-in administration, Asia's fourth-largest economy has made meaningful strides such as launching the world's first c
Samsung Electronics Co.'s cash on its balance sheets still remained high despite a slump in its business in the first quarter of the year, its financial report showed on Monday, leaving room for more investment and shareholder-friendly policies.Samsung's liquidity ratio stood at 263 percent
Hyundai Motor Co. said Sunday sales of its i30 hatchback surpassed a cumulative 1 million units in the European market since its launch in 2007.The South Korean auto giant said more than 1 million compact cars were sold in 28 European Union countries and four members of the European Free Trade Assoc
South Korea on Friday approved the construction of a new 15-megawatt (MW) research reactor that will be tasked with producing radioactive isotopes for medical and industrial purposes.The construction of the reactor unit in Gijang, some 450 kilometers southeast of Seoul, is scheduled to be completed
Hyundai Motor Co. and its smaller affiliate Kia Motors Corp. saw their combined market share in the United States hit the highest in two years on the back of strong demand for their SUVs, industry sources said on May 6, 2019.According to the sources, Hyundai and Kia logged a combined 8.2 percent in
The value of houses owned by chaebol heads shot up 34 percent in 2019 from a year earlier, data showed on May 5, 2019.According to the data compiled by Chaebul.com, the combined declared value of houses owned by the country's major 39 family-controlled business giants, called chaebol in South Ko
Samsung Electronics Co. on Tuesday cautiously expected an uptick in chip demand for high-value products and mobile devices in the second half of the year, after delivering a 60 percent drop in its first-quarter earnings on weak memory chip prices. The South Korean tech giant posted a net profit of 5
Samsung Electronics Co. said Tuesday its net profit plunged 56.9 percent in the first quarter from a year earlier due to softening memory chip prices and weak demand for display panels. The South Korean tech giant posted a net profit of 5.04 trillion won (US$4.3 billion) in the January-March period,
In 1Q 2019, LG Household & Health Care, Ltd. (CEO: Suk Cha) delivered record high quarterly results. The Company reported 1.9tr won in sales (+13.0% yoy), 322bn won in operating profit (+13.5% yoy), 307bn won in recurring profit (+14.8% yoy) and 101bn won in net profit (+23.5% yoy). Sales ha
South Korean brokerages have cut their forecasts for the first-quarter operating profits of major listed firms by 33 percent since earlier this year, as the companies are expected to feel the pinch of slowing global demand and the U.S.-China trade dispute, a market researcher said on April 24, 2019.
By Shin Jin-seonThe Hyundai Motors has named Sales Director Lee Yang-gyun as the ‘6000 Cars Sales Master’ of this year. Lee is an executive-level member of the Anjung Branch of the company.Hyundai Motors disclosed on April 24 that the company gave him the recognition at a ceremony held at the Ramada
South Korea's exports fell 8.7 percent in the first 20 days of April from a year earlier on decreased overseas shipments of semiconductors, customs data showed Monday. The country's exports stood at US$29.7 billion in the April 1-20 period, compared with $32.5 billion in the same period last
South Korea's exports are likely to improve in the second half as demand for semiconductors picks up gradually, a senior government official said Friday.Lee Ho-seung, the first vice minister of economy and finance, made the forecast in a regular meeting with officials from the central bank and o