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LG Opens Very First Built-in Home Appliance Showroom in South Korea

LG Opens Very First Built-in Home Appliance Showroom in South Korea

SEOUL, Aug. 18 (Korea Bizwire) – LG Electronics has opened a high-end showroom showcasing built-in home appliances for the first time in South Korea, as the electronics giant ramps up efforts to target the built-in white goods market in its home country. The very first showroom store named after LG’s premium ‘Signature Kitchen SUITE’ brand [...]

S. Korea Will Be “Nuclear Free” in 65 Years, about 60 Years Behind Germany, Taiwan, Belgium

S. Korea Will Be “Nuclear Free” in 65 Years, about 60 Years Behind Germany, Taiwan, Belgium

SEOUL, Aug. 18 (Korea Bizwire) – Remarks made by President Moon that the nation will only be nuclear power free in “at least 60 years” at a presidential press conference yesterday has garnered comparisons between South Korea’s nuclear power deactivation policy and other nations. Held to mark his 100th day in office, President Moon expressed [...]

Government ‘Sorry’ for Tainted-Egg Fiasco

Government ‘Sorry’ for Tainted-Egg Fiasco

SEOUL/SEJONG, Aug. 18 (Korea Bizwire) – The government offered an apology again on Friday for the ballooning concerns over food safety stemming from eggs contaminated with illegal insecticides or chemicals, while promising to beef up a nationwide system to prevent similar cases from recurring. “I sincerely apologize for causing inconvenience and concerns,” Agriculture Minister Kim [...]

Korean Shipyards at Top of Order Backlog Ranking

Korean Shipyards at Top of Order Backlog Ranking

SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s three major shipyards — Daewoo Shipbuilding & Marine Engineering Co., Samsung Heavy Industries Co. and Hyundai Heavy Industries Co. — maintained their top global ranking in terms of order backlog, industry data showed Friday. According to the data compiled by industry tracker Clarkson Research, Daewoo Shipbuilding’s Geoje [...]

Foreign Ownership of KOSDAQ Stocks Hits Record High

Foreign Ownership of KOSDAQ Stocks Hits Record High

SEOUL, Aug. 18 (Korea Bizwire) — Foreign ownership of stocks traded on South Korea’s secondary stock market has hit a new high, data showed Friday, as offshore investors turn to undervalued tech firms there after exiting the main bourse. As of Thursday, offshore investors held 25.98 trillion won (US$22.8 billion) worth of shares traded on [...]

Samsung, LG Set to Spend Record Amount on R&D This Year

Samsung, LG Set to Spend Record Amount on R&D This Year

SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major electronics firms — Samsung Electronics Co. and LG Electronics Inc. — are expected to allocate a record-high investment to research and development projects this year, industry watchers said Friday. According to the sources, Samsung Electronics invested 7.9 trillion won (US$6.9 billion) in research projects over the [...]

South Korea Begins to Destroy Eggs Contaminated with Harmful Insecticides

South Korea Begins to Destroy Eggs Contaminated with Harmful Insecticides

SEJONG, Aug. 17 (Korea Bizwire) – South Korea on Thursday began to destroy all eggs contaminated with harmful insecticides in a move to quell public anxiety about food safety. “The government is tracking all tainted eggs and will discard them,” Agriculture Minister Kim Yung-rok said in a National Assembly session. “We will publish all information [...]