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Reporter : Kim Bo-eun
Fri, September 22, 2023 | 00:32
GM EV recall costs to weigh on LG affiliates
The costs of General Motors recalling its LG battery-loaded Chevrolet Bolt electric vehicles (EVs) are set to weigh on LG's battery unit as well as its electronics affiliate. GM said last month that it decided to recall nearly 69,000 of its Bolt EVs produced in 2017 to 2019, after reports of two fires, to address the risk of battery fires in these vehicles.
[INTERVIEW] KGCCI aiming for '400 years of success'
Last year, South Korea became Germany's second-largest export market in Asia, after China. This status was backed by strong demand for German vehicles, as Korea's consumer sentiment was relatively less affected than other countries' by the COVID-19 pandemic at the time. But the increase in German exports to Korea could also be attributed to the long-standing economic cooperat...
Samsung loses global No. 1 smartphone sales ranking to Xiaomi in June
Samsung Electronics for the first time gave the global No. 1 smartphone sales ranking to Xiaomi in June. While the Chinese vendor's rise is attributed to temporary factors, Samsung is facing an increased threat from its competitor, given that Xiaomi for the first time also overtook Apple to clinch second place in the global smartphone market share in the second quarter.
Kakao vows to make entertainment unit global content firm in coming years
Internet giant Kakao pledged to foster the group's entertainment affiliate into a global content firm in the coming years, Friday. "Kakao Entertainment's business structure is now complete, with content, music and media sectors," Kakao Executive Vice President Jay Bae said in an earnings call for the second quarter.
SK Innovation to split off battery business
SK Innovation (SKI) said Wednesday that it will separate its battery and petroleum development divisions into two new entities in October. The split-off is aimed at pushing for a successful initial public offering (IPO) of the battery unit by heightening the expertise of the business and improving its corporate value. The specifics regarding the IPO have yet to be revealed.
EcoProBM set to join MSCI Korea Index
EcoProBM's stock rose to an all-time high, Tuesday, as the battery material maker is expected to join the MSCI Korea Index, in its quarterly review, slated for Aug. 12. The top firm in the local cathode materials manufacturing market saw its stock price close at 292,800 won on Tuesday, up 2.2 percent from the previous day's close. EcoProBM also saw its share price surpass 300...
Amid Xiaomi rise, Samsung banking on foldable phones
Samsung Electronics has made a major shift in its smartphone business strategy by focusing more on foldable phones, as it seeks to maintain a competitive edge over rapidly-rising Chinese vendors. In less than a decade, Chinese smartphone makers have achieved competitiveness with a diverse lineup of models offered at lower prices. This has had Samsung increasing its focus on p...
Samsung asked to keep Intel at bay with investments
Despite Samsung's historic rise to become the world's largest semiconductor company, bypassing Intel in terms of revenue in the second quarter of this year, Samsung Electronics has “no time” to remain complacent over its latest achievement, according to officials, Monday.
One Store positioned to benefit from Google Play Store situation
Developments are ongoing at the National Assembly to pass a bill that will ban Google from requiring media content app developers on Play Store to pay a 30 percent fee for using its payment system. The bill intends on protecting local app developers from being forced to pay a hefty fee by the monopolizing app market operator.
Self-made Kakao founder becomes Korea's richest person
The self-made founder of Kakao has become the country's richest person, backed by stock gains this year, according to the Bloomberg Billionaires Index. Bloomberg reported that Kakao Chairman Kim Beom-su, 55, has a net worth of $13.4 billion (15.4 trillion won), which places him at the top of Korea's wealth rankings. Following him is Samsung Electronics Vice Chairman Lee Jae-y...