Word: goldstar
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Dates: during 1980-1989
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Independent labor organizers took advantage of the new atmosphere to spark a series of work stoppages that reached new peaks last week. Assembly lines ground to a halt at the electronics giants, Samsung and Lucky-Goldstar. Earlier, Hyundai Motor Co., producer of the popular subcompact Excel, lost $24 million after it failed to ship 6,000 cars. Though the government is leaving the search for solutions to labor and management, it began to move against the violence prone, arresting two workers for destroying an auto-parts factory and three fishermen for wrecking equipment in a Pusan market. Warned Labor Minister...
...Safeway Spokeswoman Felicia del Campo: "Nobody could assure us that none of the adulterated wines had reached the U.S." Many other retailers resisted the move, however, pointing out that they did not sell low- grade products or citing confidence in their own distribution systems. Said Louis Iacucci, president of Goldstar Wines & Spirits of Queens, N.Y., the nation's single largest retailer of Italian wines: "The scare was premature, and it has done a lot of harm to some of the great winemakers of the world...
...recently have Korean firms begun to sell a variety of consumer goods. They first entered the mass market indirectly. In 1979 Samsung began making television sets that are among those sold in Sears stores as the company's house brand. Similarly, J.C. Penney started selling microwave ovens manufactured by Goldstar...
Three years ago, Goldstar built a plant in Huntsville, Ala., to manufacture color television sets bearing the company's own name. Consumer response was swift and positive. Since 1983, Goldstar's revenues from TV sales have more than tripled, to $100 million in 1985. TV sets with the Samsung label have also become brisk sellers...
Samsung and Goldstar have recently made equally impressive inroads in the market for videocassette recorders. Five years ago, the Korean companies turned to Japanese manufacturers to provide the necessary technology to make VCRs. In return, the Koreans delayed their entry into the U.S. market until 1985. Their belated arrival in American shopping malls ten months ago has sparked a classic price war. The price of a no-frills VCR has fallen from about $350 to $200. Though Japanese manufacturers have slashed prices to meet the competition, Korean companies may have already won 5% of the American VCR market...