Car Industry Fares Worst Among South Korea's Exporters

May 13, 2020 00:51 am UTC| Business

South Koreas vehicle industry was the worst hit in exportations, plummeting 80.4 percent on May 1 to 10 from the same period last year, due to the global impact of COVID-19. Petroleum products ensued, plunging 75.6...

GS Caltex Contact-Free Services App Enjoys 1000% Surge in Use

May 12, 2020 02:45 am UTC| Business

GS Caltexs app dubbed OWiN that allows contact-free charging and payment services at its 330 gas stations posted a 1,000 percent increment in monthly use in March, compared to December. According to the company, the...

S.Korea's SME Loans Surge in April Due to Gov't-Backed Low-Interest Rates

May 12, 2020 02:45 am UTC| Business

South Koreas small- medium-sized enterprises (SMEs) took out loans in April worth 463.9 trillion won, higher by 8.4 trillion won more from the previous month. The amount represents the steepest increase in loans since...

Hyundai Electric Inks W35-B Saudi Deals

May 12, 2020 02:45 am UTC| Business

Hyundai Electric and Energy Systems Co. will supply transformers to Saudi Electricity Co. in a 23 billion won deal, and provide gas-insulated switchgear to Saudi Aramco for 12 billion won. The two orders worth 35...

Volvo Cars to Utilize SK Telecom's Infotainment Service

May 12, 2020 02:45 am UTC| Business

Volvos cars to be sold in South Korea in 2021 will use SK Telecoms (SKTs) integrated in-vehicle infotainment service. SKTs IVI service will be among the basic specifications for all 2022 Volvo models in South Korea to...

S.Korea's Online Sellers Zero in on 'Retaliatory Consumers'

May 12, 2020 02:45 am UTC| Business

Online shopping mall operators will offer discounts of up to 72 percent to attract consumers eager for buying sprees after weeks of social distancing. Voraciously spending as a way of relieving stress during the...

Foreigners Raise Stake in S.Korean Bonds Amid COVID-19 Woes

May 12, 2020 02:44 am UTC| Business Investing

Foreign groups poured 16.9 trillion won in South Korean bonds in March and April to push their investments to 140.9 trillion won, according to the Financial Supervisory Service (FSS). The figure marks the first time...