new 2007 Hyundai Veracruz, another Lexus-alike from the Korean company
Scott West is driving a Ford Focus
now because his previous vehicle, a Kia Sportage, was nothing but trouble.
"We had the car for about 10 months, and driving up the 405 freeway one day after work and in traffic went to make a lane change,
accelerate in front of a diesel and the transmission just dropped out, didn't have any power," West said.
Hyundai loses $1 billion as output drops
Flat panel maker LG Philips LCD said
on July 11 that the Dutch-Korean joint venture suffered its worst performance ever
in the second quarter of this year due to price cutting, increased inventories, and overcapacity.
The world's second-largest flat panel maker also blamed slow demand for televisions during the period,
with the World Cup failing to offer a boost as had been expected.
The company suffered a net loss of 322 billion won ($340 million) in the April-June period, compared with a profit of 29 billion won a year earlier.
Sales stood at 2.315 trillion won, down 6 percent from the previous quarter and down 0.3 percent from a year ago. It had an operating loss of 372 billion,
compared with a profit of $29 billion in the 2005 period.
"The World Cup failed to boost demand for TVs as had been expected," LG Philips spokesperson Sue Kim said.
International Day of Action against Daewoo
Burmese Activists Protesting Daewoo Are Arrested April 18, 2006
Dhaka, Bangladesh (AHN) - The Thai police arrested and detained 20 Burmese activists protesting outside the South Korean Embassy in Bangkok on Tuesday against Daewoo International Corporation's investment in oil and natural gas exploration in Burma.
Over 30 Burmese and Thai activists were jointly demonstrating against Daewoo in front of the South Korean Embassy in Bangkok when the Thai police broke up the gathering and arrested 25 Burmese activists,
Mizzima News, a pro-democratic Burmese news agency, reported on Tuesday.
Meanwhile, the Malaysian police arrested over 80 Burmese activists who were holding a protest rally against Daewoo International Corporation outside the South Korean Embassy in Kuala Lumpur.
Declaring April 18, as the International Day of Action against Daewoo, campaigners in more than 18 countries including
Australia, Netherlands, United States, Japan and United Kingdom are staging similar protest rallies in front of the offices of Daewoo international and embassies and consulates of South Korea, the news agency added.
South Korean investigators stormed the headquarters of the country's top automaker, Hyundai Motor,
in a widening corruption probe into a local business lobbyist, officials said.
A team from the Prosecutor General's Office seized some 100 boxes of data from Hyundai Motor's head office in southern Seoul after hours of searching,
company officials told AFP.
The seizure followed the Prosecutor General's arrest of Kim Jae-Rok, a 49-year-old business consultant,
on Friday for allegedly bribing politicians and officials while negotiating mergers and acquisitions of local firms.
Three Samsung executives plead guilty for role in chip price-fixing scheme
San Diego Union Tribune
SAN FRANCISCO – Three executives from South Korea's Samsung Electronics Co. agreed to plead guilty and serve jail time for participating in a conspiracy to fix the price of computer memory chips, the U.S. Justice Department said Wednesday.
Each executive agreed to pay a $250,000 fine, cooperate with federal authorities on the investigation and serve prison sentences ranging from seven to eight months for their role in a scheme to raise prices for dynamic random access memory, or DRAM, from 1999 to 2002.
“These pleas should send a clear message that we will hold accountable all conspirators, whether domestic or foreign, that harm American consumers through their illegal conduct,” Attorney General Alberto Gonzales said in a statement.
So far, the long-running Justice Department investigation has resulted to more than $731 million in fines and charges against 12 individuals and four companies, including, Samsung, Elpida Memory Inc., Infineon Technologies AG and Hynix Semiconductor Inc.
Best Cars For The Bucks
Also of concern is that you get what you pay for. Hybrids such as the Honda Civic Hybrid may cost more, but they are also pretty well made. Some of the cars with the lowest ownership costs, such as the Kia Rio, are that way because they are cheaply made and feel it.
Hyundai ... seriously
The Sonata's precision mimicry deserves sincere flattery and proves that this company's worth
IMITATION is the sincerest form of thievery, and no car is more sincere than the new Hyundai Sonata.
The first car issued from the loins of a new billion ― dollar factory in Montgomery, Ala. ―
chances are you've seen the ads trumpeting Hyundai's investment in the right-to-work homeland ―
the Sonata is to the Honda Accord what the tribute band Zoso is to Led Zeppelin, a startlingly
faithful rendition of the original at state fair prices.
U.S., South Korea in a Cinema War
October 31, 2005
The Asian nation limits showings of foreign movies. Americans see that as a trade barrier.
Samsung to Pay $300M Fine for Chip Price-Fixing
Thursday, October 13, 2005
The guilty plea by South Korea-based Samsung Electronics Co. Ltd. (search) and its U.S. subsidiary, Samsung Semiconductor Inc., was to be entered Thursday in U.S. District Court in San Francisco.
The 10 ugliest cars
On first catching sight of the new Ssangyong Rodius, a bulbous tank of a people carrier, one critic is said to have sucked his pen,
scratched his ear and announced that it resembled John Prescott. On a bad day.
SSangyong Rodius 29%: ugliness ‘could frighten small children’
That may have been too harsh even for Mr Prescott. For yesterday, the seven-seater behemoth was named the ugliest vehicle on Britain's roads.
'Republic of Samsung'
Los Angeles Times September 25, 2005
The company reaches nearly every aspect of South Korean life. And as a political bribery scandal unfolds, some people say it's out of control.
Samsung is so pervasive and its influence so immense in South Korean society that many here say it has turned the nation into a giant company town. They call it the Republic of Samsung.
A Samsung business card means you're part of an elite social and economic class. At Samsung Electronics, the average pay is about $70,000 ? more than triple South Korea's per capita income.
S. Koreans say suspects black-marketed 56,000 cases of AAFES beer
By Hwang Hae-rym, Stars and Stripes
Pacific edition, Saturday, September 17, 2005
SEOUL ・Seoul customs officials are investigating 17 South Koreans they say black-marketed about 56,000 cases of beer from U.S. military bases in Area I.
AAFES stores in South Korea have had problems with alcohol smuggling in the past.
The former post exchange manager there was arrested for the theft, and AAFES reported that more than $76,000 in inventory was stolen.
In September 2002, a Camp Stanton AAFES employee and five other South Koreans were charged in connection with the illegal sale of 1,500 cases of beer, whiskey and medicine to area stores.
Side Airbags are Standard on Hyundai but Optional on Camry LE
Electronic Stability Control is Standard on Hyundai but Optional on Camry LE
Passenger Air Bag Shutoff Switch/Sensor is Standard on Hyundai but Not
Available on Camry LE
Vehicle Anti-Theft is Standard on Hyundai but Optional on Camry LE
Lego to Pull Factory out of Korea
When it comes to brand names, South Koreans love to fake it
A typical South Korean housewife, Kim Young-Hee loves brand name goods but like most of her friends never buys them.
Instead she buys fakes at a fraction of the price, but of a quality she believes comes close to the originals.
Kim, 55, says she purchased four counterfeit Gucci handbags for $119 each on her last shopping foray with money pooled together
by her friends who have formed a savings club. The genuine articles would have set the women back several thousand dollars.
European businessmen urge SKorea to tighten rules on intellectual property
SEOUL (AFX) - European businessmen have urged South Korea and other Asian countries to launch tougher crackdowns on fake goods
and allocate more resources to the enforcement of laws.
China has emerged as the global epicenter of pirating and counterfeiting, but European experts say the theft of intellectual property is also rampant
in South Korea, Taiwan, Malaysia and Vietnam, Agence France-Presse reported.
'The growing size of counterfeiting seems, mainly, to be caused by the lack of deterrence of the legal system,' he said.
'Counterfeit goods are still easily found on the streets and Korea is recognized as the major source of counterfeit goods among foreign tourists in Asia,'
EUCCK (European Union Chamber of Commercevice) president Peter Thewlis said.
He demanded South Korea punish small-scale violators for misdemeanors and encourage police to readily exercise their enforcement power against any illegal product.