Korea Bizwire, Author at Be Korea-savvy
Trump Nominates Cha as U.S. Ambassador to S. Korea: Sources

Trump Nominates Cha as U.S. Ambassador to S. Korea: Sources

WASHINGTON, Dec. 11 (Korea Bizwire) — U.S. President Donald Trump has nominated former White House official Victor Cha as Washington’s ambassador to South Korea and requested the approval of the Asian country’s government, sources said Sunday. The request, known as an agrement, was recently sent to the South Korean government following an extensive vetting process, [...]

Kumho Petrochemical Sues U.S. over Anti-dumping Duties

Kumho Petrochemical Sues U.S. over Anti-dumping Duties

SEOUL, Dec. 11 (Korea Bizwire) — South Korean chemicals maker Kumho Petrochemical Co. has filed a lawsuit against the U.S. government over the imposition of high anti-dumping duties on its synthetic rubber product, industry sources said Monday. In July, the U.S. Department of Commerce slapped anti-dumping duties of 44.3 percent on emulsion styrene butadiene rubber [...]

LG Electronics Develops LTE-based Autonomous Driving Technology

LG Electronics Develops LTE-based Autonomous Driving Technology

SEOUL, Dec. 10 (Korea Bizwire) – LG Electronics Co. has developed an LTE-based autonomous driving technology as part of its ongoing effort to make a presence in the next-generation vehicle market, the company said Sunday. On top of its mainstay handset and home appliance businesses, LG Electronics has stepped up efforts to diversify its portfolios, [...]

Samsung Pay Expanding into Mobile Banking Service

Samsung Pay Expanding into Mobile Banking Service

SEOUL, Dec. 10 (Korea Bizwire) — Samsung Electronics Co.’s mobile payment system is moving to expand into the banking sector to offer more diverse services to users, the South Korean tech giant said Sunday. The company said that starting Thursday, the payment system installed on some of its newer smartphones can be used to carry [...]

Algeco Scotsman Announces Debt Package for Refinancing, Acquisition of Touax Solutions Modulaires SAS and Exercise of Put Option

Algeco Scotsman Announces Debt Package for Refinancing, Acquisition of Touax Solutions Modulaires SAS and Exercise of Put Option

BALTIMORE, Md., Dec. 10 (Korea Bizwire) — Algeco/Scotsman Holding S.à r.l. (together with its subsidiaries, the “Algeco Group”) today announced that a finance special purpose vehicle that will be a subsidiary of the Algeco Group has entered into a senior debt package arranged by a syndicate of lending institutions and a preferred stock facility with [...]

Shinsegae to Reduce Working Hours Without Wage Cut

Shinsegae to Reduce Working Hours Without Wage Cut

SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s retail giant Shinsegae said Friday it will reduce its employees’ working hours to 35 per week starting next year as part of its efforts to improve their work-life balance. It will mark the first case for a local conglomerate to adopt the 35-hour working week policy, when [...]

Game Publishers See AI as Future

Game Publishers See AI as Future

SEOUL, Dec. 8 (Korea Bizwire) — South Korea’s three major game developers are expanding their workforces in artificial intelligence (AI) as they consider the technology as the future of the industry, company officials said Friday. The nation’s longtime online game giant Nexon Korea Co. said that it will expand a department dealing with core technologies [...]

S. Korea Strives to Foster Nuclear Decommissioning Industry

S. Korea Strives to Foster Nuclear Decommissioning Industry

SEOUL, Dec. 8 (Korea Bizwire) — South Korea will ramp up efforts to develop technologies related to nuclear decommissioning as the country’s oldest reactor is undergoing the lengthy, costly process of being dismantled, the energy ministry said Friday. The Ministry of Trade, Industry and Energy launched a consultative body composed of state-run utilities, construction companies [...]