September 20, 1990 |
In a second major legal setback for Northrop Corp., an international arbitration group has concluded that the company paid $6.25 million to a South Korean power broker in a possibly illegal attempt to sell its jet fighters to that country's air force. The arbitrator rejected Northrop's claim that the money was intended to finance the building of a luxury hotel. The ruling said that three company vice presidents were aware of the real purpose of the funds and that its chairman, Thomas V.
June 12, 1990 |
Korean Air, the privately held South Korean carrier, Monday ordered 23 of Boeing Co.'s new 747-400 airliners in an order likely to be worth $4.8 billion. The order, third-largest in the Seattle-based manufacturer's history, will greatly help decrease the trade imbalance between South Korea and the United States. It was announced during a visit to Washington, D.C., by a South Korean trade mission. The airline had previously ordered nine of the big jetliners.
July 24, 1988 |
When South Korean authorities lifted restrictions on the sale of imported tobacco this month, some Koreans became two-pack smokers--puffing away at domestic cigarettes in public but keeping a pack of foreign cigarettes to inhale in private. The double life of tobacco addicts is one of the more peculiar manifestations of bubbling nationalism in South Korea. American brands are now widely available and nearly as cheap as the domestic competition. But smoking them is simply unpatriotic.
February 11, 1998 |
While on the subject of Korean car companies, the president of Irvine-based Kia Motors America recently told dealers that the company's U.S. expansion is continuing as planned, despite Kia's troubles at home. (It has been placed under control of the country's national bank because of mounting debt.) In fact, President W.K. Kim told dealers at the recent National Automobile Dealers Assn. convention in New Orleans, Kia might just outsell rival Hyundai Motor America in the U.S. this year.
April 1, 1998 |
Trade practices in Japan, the European Union, South Korea and China harm U.S. companies, the Clinton administration said Tuesday in its annual report on foreign trade barriers. These four led 49 countries and three trading groups put on notice that they had erected unfair trade barriers, were failing to adequately protect U.S. copyrights and patents or were otherwise engaging in trade practices that the administration considers unfair.
August 8, 1996 |
Daewoo Plans to Sell Cars in U.S.: Daewoo Motors Corp. of South Korea will begin selling cars in the U.S. in late 1997 or early 1998, Chairman Kim Woo-Choong said. Daewoo plans to sell 100,000 vehicles a year in the U.S. by 2000, Kim said. Daewoo Motors, a unit of Daewoo Group, plans to introduce a small car and sell it directly to consumers rather than using dealerships. Direct-sales offices resemble car dealerships but are company-owned. Consumers order vehicles directly from the company.