Tag - bestmadeinkorea

Hyundai Motor chief to meet heads of overseas operations

[THE INVESTOR] Hyundai Motor Group chairman Chung Mong-koo is scheduled to hold a meeting with some 60 heads of overseas operations at the Seoul headquarters on July 18 to discuss ways to elevate the carmaker’s slowing sales. The meeting, held twice a year, comes after the nation’s largest carmaker — the fifth globally — suffered a 2.4 percent decline in sales in the first half of this year compared to a year ago. In the January-June period, Hyundai Motor and Kia [...]

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Doosan Heavy bags W220b deal

[THE INVESTOR] Korea’s top power equipment maker Doosan Heavy Industries & Construction said on June 27 that it has bagged a 220 billion-won (US$185 million) deal to build a desalination plant in Iran. Under the deal with the Iran-based Sazeh Sazan, the firm will construct the facility by October 2018. The Korean company will also do operating and maintenance work for 12 years. Doosan Heavy’s deal marks the first for a desalination plant in the Islamic republic after international sanctions on [...]

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Samsung unveils new budget tablet model

amsung Electronics Co., South Korea’s top tech firm, released the updated version of its budget tablet series, the Galaxy Tab A, on Tuesday, saying it guarantees a better connection with entertainment. The Android-based “2016 Galaxy Tab A” features a 10.1-inch full HD-level display, a 1.6 GHz octa-core processor, 2GB of RAM and a microSD card slot for up to 200GB of removable storage. It has a 7.300 mAh battery. The tablet is equipped with an 8-megapixel rear camera and a 2-megapixel [...]

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Bank deposits on rise despite record low interest rates

Deposits at South Korea’s major commercial banks grew at a fast clip last week despite significant cuts in interest rates paid by local banks following a rate cut by the central bank, market data showed Sunday. Outstanding deposits held by the country’s five major lenders gained over 10 trillion won ($8.52 billion) in just one week after the Bank of Korea slashed its key interest rate to a record low of 1.25 percent on June 9, according to the data. Following [...]

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Korea-US FTA boosts US car sales in Korea

[THE INVESTOR] US carmakers’ sales in Korea overtook that of Japan for the first time in 2015, industry data showed on June 20. The change is thought to have been brought on by the Korea-US free trade agreement implemented in 2012. Following the FTA, the tariff on US-built vehicles was initially cut from 8 percent to 4 percent. From this year, the tariff has been completely removed. According to Korean and Japanese automobile importers’ associations, US marques’ Korean sales came in [...]

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Global startup 'gateway' opens at Pangyo campus

South Korea opened a “global business support center” on Wednesday in the Pangyo Startup Campus, the nation’s new hub for digital business startups. The center will serve as a “gateway” for local startups to meet foreign investors and launch operations abroad, said the Ministry of Science, ICT and Future Planning. It is tasked with establishing a database of information related to startups here and provide potential overseas investors with this information. It will forge partnerships with foreign agencies such as China’s Shanghai [...]

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Shares of Lotte units plunge on prosecution probe

Shares of Lotte Group subsidiaries took a nosedive on Monday amid a widening prosecution probe into the conglomerate over suspicions of slush funds and other malfeasance. Flagship retail unit Lotte Shopping tumbled 5.38 percent to 211,000 won ($179.9) on the main bourse, and the chemicals subsidiary sank 3.91 percent to 258,000 won. In a regulatory filing earlier in the day, Lotte Chemical said it had withdrawn its bid to take over U.S.-based chemicals maker Axiall Corp. Lotte Confectionery plunged 5.97 percent [...]

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Tax revenue jumps 23% by April on increased consumption

South Korea’s tax revenue surged greatly from a year earlier in the first four months partly on an increase in corporate and income taxes that may reflect a rise in consumption, the government said Friday. In the January-April period, the government collected 96.9 trillion won ($83.2 billion) in taxes, up 23 percent, or 18.1 trillion won, from the same period last year, according to the Ministry of Strategy and Finance. The four-month tally represents 43.5 percent of the government’s annual target [...]

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Know How to Buy Korean Jewelry at amazing Prices

Wearing the finest dress isn’t sufficient to look gorgeous if it not teamed up with perfect jewelry accessories, like unpolished diamond are worth much less then polished one, and jewelry is what no one can’t ignore. While going to the upcoming event/parties, it is recommended to try out South Korean jewelry. They are generally designed with lot of stones that make you look more beautiful and attractive. From fair dress to gorgeous dresses, the Korean earrings to watches fits [...]

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VW’s buyback plan in U.S. may affect Korean lawsuit

Volkswagen’s recent legal settlement with the U.S. government, which is expected to be finalized this June, may affect the final verdict of the class action lawsuit involving VW diesel car owners here, a Korean attorney said Friday. The German carmaker reached a $10.2 billion deal with the U.S. government, agreeing to offer its scandal-hit diesel car owners in the U.S. buybacks, repairs and compensation. Details of the deal are unknown due to the judge’s order to keep the terms confidential. However, [...]

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