SEOUL– GM Korea Co., the South Korean unit of General Motors Co., said Tuesday its sales nearly quadrupled last month from a year earlier on strong exports. GM Korea sold 26,811 vehicles in October, up from 6,875 units a year ago despite an extended global chip shortage, the company said in a statement. … Read more
SEOUL– South Korean battery firms will invest a combined more than 50 trillion won (US$35.24 billion) at home by 2030 to secure advanced technologies in the secondary battery field, a move that could to make the country the world’s No. 1 player with a market share of over 40 percent, the industry ministry said Tuesday. … Read more
SEOUL– Doosan Enerbility Co. on Tuesday reported its third-quarter net profit of 144.5 billion won (US$102 million), up 28.4 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period rose 40.7 percent on-year to 314.6 billion won. Revenue increased 35.2 percent to 3.96 trillion won. … Read more
SEOUL– South Korea has co-sponsored a U.N. draft resolution condemning North Korea’s human rights conditions in an about-face from a low-key approach for four years under the preceding liberal administration, according to Seoul’s foreign ministry Tuesday. “Our government has actively joined in discussions on the U.N. resolution on North Korea’s human rights and has … Read more
SEOUL– Rookie girl group Le Sserafim has entered the Billboard 200 main albums chart for the first time, after its debut six months ago. The K-pop act ranked No. 14 on this week’s Billboard 200 chart with its second EP, titled “Antifragile,” the group’s agency Source Music said Tuesday, quoting Billboard’s official Twitter page. … Read more
SEOUL– Kia Corp., South Korea’s second-largest automaker, said Tuesday its sales rose 8.6 percent last month from a year earlier despite an extended chip shortage. Kia sold a total of 238,660 vehicles in October, up from 219,836 units a year ago on robust overseas demand for its SUV models, the company said in a … Read more
SEOUL– Lotte Shopping Co. said Tuesday it has partnered with Britain’s Ocado Group Plc., a leading online grocery tech platform provider, to strengthen its e-grocery business. Through the partnership, Lotte Shopping, the retail arm of South Korea’s fifth largest conglomerate Lotte Group, plans to invest around 1 trillion won (US$705.2 million) to build six … Read more
SEOUL– POSCO International Corp. said Tuesday it has signed an initial deal with a Dutch partner for collaboration in a next-generation transportation system. The agreement with Hardt Hyperloop commits the South Korean company to providing rolled steel to the European Hyperloop Center, an industrial complex under construction in the Netherlands for the development of … Read more