STUTTGART, Germany ― At the heart of Bosch’s Feuerbach factory in Stuttgart of Germany, a team of skilled workers in gray overalls carefully assemble the CP4 high-pressure diesel pump in a narrow work cell. High-pressure fuel injection is one of the key advances that have transformed noisy, dirty diesel cars into smooth, tidy, powerful machines. Bosch, the world’s largest auto parts supplier, is undeniably a leading player in this field.The assembly process begins as a transponder is attached to

South Korean retail giant Lotte Shopping Co. announced Sunday it has ranked third in the biggest department store category on the list of the most powerful companies of the year released by Forbes.France‘s PPR SA topped the list as the world’s biggest department store, followed by Macy‘s of the United States. Forbes’ annual Global 2,000 list ranks global corporations from 62 countries based on a composite score of sales, profits, assets and market value.Lotte posted $34.6 billion in total assets

Woori Financial Group chairman Lee Soon-woo pledged to prioritize raising the market value of each business unit for successful privatization of the nation’s largest financial service firm.Through his inaugural speech at the group’s headquarters in Seoul on Friday, the new Woori chief called for his staff to put great efforts into bolstering risk management and market dominance at 13 subsidiaries.“By minimizing the excessive rights of the finance holding firm, the group will secure voluntary man

The Korea Petroleum Association, one of the most influential lobby groups in the oil industry, has appointed Chun Young-won, 69, a former lawmaker from the ruling Saenuri Party, as its new chairman, the organization said in a press release. CEOs of four regular member firms ― SK Energy, GS Caltex, S-Oil and Hyundai Oilbank ― all agreed to his appointment in a recent general meeting, it added. The association, which was established in 1980 to tide over the second oil crisis, has preferred a chair

Samsung Electronics Co. on Wednesday revealed the Galaxy S4 zoom, the latest model of its flagship Galaxy series, which is a cross between a camera and a smartphone.The unconventional gadget features a high-end smartphone while also embedding a quality camera, according to information Samsung released to the U.S. media. Up front, the Galaxy S4 Zoom looks like a smartphone, equipped with the Android 4.2 “Jelly Bean” operation system, a 4.3-inch Super AMOLED 960x540-pixel screen, a 1.5GHz dual-cor