Industries

Samsung's Lee Jae-young Arrested In South Korea, Prosecutors To File More Charges

Samsung's Lee Jae-young has been arrested in South Korea after allegations of bribery and other chargers. Lee's arrest comes after the impeachment of South Korean President Park Geunh-hye which is reported to be linked to the Samsung executive.

February 17, 2017 at 6:15 am

Hanjin's Demise A Stark Reminder Of Chaebol's Management Flaws

Former 7th biggest shipping company Hanjin Shipping will file for bankruptcy on February 17 after amassing billions of dollars in debt. As it heads to the court for its last statements, the once powerful company now is deprived of assets and only a handful of employees under its payroll. It certainly is a depressing picture coming from a company that was once Korea's top sea transport company.

February 16, 2017 at 6:14 am

Tesla's Registration Almost Complete; Model S Headed to South Korea in May

Tesla Motor's registration is reportedly set to be finalized soon. With that hurdle out of the way, the American car manufacturer can begin doing business in South Korea by May.

February 16, 2017 at 6:15 am

Tesla Expected To Begin Selling Cars in Korea In May

US electric carmaker Tesla Motors is expected to hit the South Korean auto in May after the company has completed its registration process with the transportation ministry.

February 16, 2017 at 6:16 am

More Than 2,000 Cars To Be Recalled By Korean Government, BMW, Puegeot, Mitsubishi Included

In the wake of the recent car issues of some notable automaker companies have experienced in the past few weeks, several other international car companies are now experiencing problems of their own. South Korea's transport ministry has ordered the recall of a total of 2,721 units of 33 models for certain issues.

February 16, 2017 at 6:49 am

Sales Of Imported High-End Cars In Korea Increased in 2016

Sales of foreign-made luxury cars grew in 2016 with 20,384 units sold, accounting for over 9 percent of the 225,279 imported vehicles sold in the country last year, according to industry data.

February 15, 2017 at 5:50 am

Hyundai Ioniq Named Greenest Car In the United States

The eco-friendly Hyundai Ioniq electric vehicle has been named the greenest car in the US by the American Council for an Energy-Efficient Economy (ACEEE), Hyundai Motor Co. said Wednesday .

February 14, 2017 at 6:51 am

Nissan Facing Allegations Of Fuel Economy Test Manipulation

Nissan is facing complaints from the South Korean government over allegations that the automaker company manipulated the fuel mileage test results of its Infiniti Q50 sedan. The Seoul Central District Prosecutors office will be doing the investigation after a criminal complaint was filed by the the ministry.

February 15, 2017 at 5:54 am

Hyundai Earns 5th Spot In Global Sales Ranking, But Experiences Decreasing Sales

In terms of global rankings, Hyundai seems to be in a good position as the company managed to scure the 5th spot. But that alone does not paint a good picture for the automaker company.

February 14, 2017 at 6:51 am

Wal-Mart Says It Will No Longer Work With Korean Shippers

Wal-Mart, the world's biggest retailer, announced that it has cut all contracts with Korean shippers after suffering huge losses following the South Korean government's unexpected move to allow debt-ridden Hanjin Shipping to go bankrupt.

February 14, 2017 at 6:51 am

Sales of Imported Trucks In South Korea Reached 433 In January

Continuing its momentum from 2016, imported truck sales in South Korea reached 433 vehicles in January, according to industry data.

February 13, 2017 at 7:02 am

Korean LPG Industry Down Depsite Record Sales

Korean domestic LPG sales have reached sales at an all time high last year but that doesn't mean that all is well for the industry. The country's liquefied natural gas industry is still on the decline despite the record sales of the LPG industry.

February 13, 2017 at 7:06 am

South Korean Gov’t To Spend Big On Development Of Unmanned Vehicles

The South Korean government will invest 54.5 billion won in the development of unmanned vehicle, as part of its five-year master plan, officials said.

February 13, 2017 at 7:12 am

Most Of South Korea’s Top Market Cap Firms Posted Improved Earnings In 2016

South Korea's top companies by market capitalization recorded profits in 2016 due to improved sales and cost-cutting measures, according to industry data.

February 13, 2017 at 7:14 am

LG Electronics Keeps Third Spot In North American Smartphone Market

Strong sales of the LG Electronics' high-end smartphone V20 in the fourth quarter helped the company maintain its hold of third place in the North American smartphone market.

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