Industry

  • Daewoo shipyard workers endorse walkout, no timetable
    Daewoo shipyard workers endorse walkout, no timetable Unionized workers at Daewoo Shipbuilding and Marine Engineering endorsed a strike calling for job security Tuesday despite a warning from creditors that they could scrap a rehabilitation program for the ailing shipyard. The proposed walkout won 85 percent of votes cast by workers in a two-day vote Monday and Tuesday. Union leaders, however, have not revealed a timetable saying they were willing to seek a negotiated settlement with creditors and management. June 14, 2016
  • South Korean leader cites tears of Malmo in shipbuilding industry
    South Korean leader cites 'tears of Malmo' in shipbuilding industry President Park Geun-hye warned Monday that South Korea's shipbuilding industry would collapse like a shipyard in the Scandinavian city of Malmo if it fails to carry out "bold" restructuring, as shipyard workers vote over a proposed strike against any drastic redundancy. South Korea's economy has "no future" without "bold" corporate restructuring, Park said in a speech at parliament, adding the economy was in "a desperately danger June 13, 2016
  • Daewoo shipyard workers vote over proposed strike
    Daewoo shipyard workers vote over proposed strike Unionized workers at Daewoo Shipbuilding and Marine Engineering, one of South Korea's three top shipbuilders, took a vote Monday over a proposed strike calling for job security. The vote by some 7,000 workers came after Daewoo Shipbuilding CEO Jung Sung-leep last week suggested the company should curtail facilities for offshore plants by up to 25 percent to ride out its liquidity crisis. Jung also supported the idea of separating Daewoo Shipbuilding's defense sec June 13, 2016
  • Nissan ordered to recall Qashqai compact cars sold in South Korea
    Nissan ordered to recall Qashqai compact cars sold in South Korea Japan's Nissan Motor has been ordered to recall a compact diesel model of its vehicles sold in South Korea for manipulating emissions tests, South Korea's environment ministry said Tuesday. The ministry banned sales of Nissan's Qashqai compact crossover and slapped a fine of 340 million won (292,010 US dollars) for using a defeat device to lie on emissions results. Nissan's local unit was ordered to recall 824 Qashqai cars sold in South Korea from N June 7, 2016
  • Recall order for 9,000 imported cars from Benz, Honda and Ford
    Recall order for 9,000 imported cars from Benz, Honda and Ford In a widening probe triggered by Volkswagen's emissions-cheating, three foreign carmakers including Mercedes-Benz have been ordered to recall some 9,000 cars brought into South Korea due to defective parts, transport authorities said Thursday. The recall followed an intensive safety check into faulty parts of imported cars that began after Volkswagen was accused of faking emissions results for some of its diesel models. Mercedes-Benz Korea will recall 1,135 E-class s June 2, 2016
  • Prosecutors seize Volkswagen cars for probe into emissions-cheating
    Prosecutors seize Volkswagen cars for probe into emissions-cheating South Korean prosecutors seized 950 Volkswagen cars Wednesday as part of their probe into the German company which has been accused of faking emissions tests. Prosecutors said three models -- A1, A3 and Golf -- were seized at the Volkswagen depot in the southwestern port city of Pyeongtaek. The move followed a raid by prosecutors in February into the offices of Volkswagen's local unit at the request of South Korea's environment ministry. The German auto giant has June 1, 2016
  • green cars could be a risk to walkers: Yonhap
    green cars could be a risk to walkers: Yonhap Hybrid or electric-powered cars could be much more dangerous to pedestrians than traditional vehicles because of their silence, a report said. According to the report by Hyundai Marine & Fire Insurance Co., walkers are 1.6 times more likely to be run over by a quiet hybrid or electric car than by one with a gas or diesel engine outside schools, in residential areas and on other back roads. The accident rate for slow-moving hybrids on back roads was 5.5 percent, compared to June 1, 2016
  • Scientists develop semiconductor operable in -90 degrees Celsius
    Scientists develop semiconductor operable in -90 degrees Celsius South Korean scientists claimed Tuesday to have developed a new semiconductor element which is operable in extreme temperatures such as below 90 degrees Celsius. The National Research Foundation of Korea said that a research team involving Sungkyunkwan University professor Park Jin-hong and KAIST professor Kim Yong-hoon have successfully developed the second-dimensional semiconductor element which is able to conduct electric charg May 31, 2016
  • BMW recalls thousands of cars in South Korea for faulty parts
    BMW recalls thousands of cars in South Korea for faulty parts ​ German car giant BMW will recall about 3,500 cars sold in South Korea after safety regulators discovered defective parts including a fuel pump and an airbag control unit, officials said Wednesday. BMW Korea will voluntarily recall 1,751 vehicles, including 320d and 12 other models, sold in 2014 after admitting that there could be possible "flaws" in their fuel pump, the transportation ministry said in a statement. The move came in the middle of a safety check in May 18, 2016
  • [UPDATES] Nissan to be fined for manipulating emissions tests
    [UPDATES] Nissan to be fined for manipulating emissions tests ​ An environment ministry official points to a device used by Nissan to fake emissions test. Japan's Nissan Motor will be ordered to recall a compact diesel model of its vehicles sold in South Korea with a fine of 280,000 US dollars for manipulating emissions tests, South Korea's environment ministry said Monday. Nissan was found to have faked emissions results for its Qashqai compact crossover by using a defeat device, the ministry said. Qashqai, produced by an May 16, 2016