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Looking Back on a Decade of iPhone and its Profound Impact on Korean Society

Looking Back on a Decade of iPhone and its Profound Impact on Korean Society

SEOUL, Jun. 26 (Korea Bizwire) — This coming Thursday will mark the 10th anniversary of one of the more revolutionary pieces of technology developed in recent history. It reached Korean shores a full year and five months after its birth, brought over by KT into a practically non-existent smartphone market. It was met with astounding [...]

Head of SK Says Toshiba Deal is ‘Not Finished’

Head of SK Says Toshiba Deal is ‘Not Finished’

SEOUL, June 23 (Korea Bizwire) – SK Group Chairman Chey Tae-won said Friday its semiconductor arm’s move to join the acquisition of Toshiba Corp.’s chip business is “not finished,” hinting there are still challenges moving forward. The remark came as a global consortium including South Korea’s SK hyinx Inc. was tapped as the preferred bidder [...]

Toshiba Taps SK Hynix’s Consortium as Preferred Bidder

Toshiba Taps SK Hynix’s Consortium as Preferred Bidder

SEOUL, June 21 (Korea Bizwire) – A global consortium including South Korea’s SK hyinx Inc. was tapped as the preferred bidder for the sale of the memory arm of Japanese tech giant Toshiba Corp., industry sources said Wednesday. Toshiba earlier put its stake in its memory operations up for sale as it struggles with losses from its nuclear power business in the United States. The consortium, also including Japanese players and U.S. Bain Capital, [...]

South Korean Steel Industry Going Smart in Face of Adversity

South Korean Steel Industry Going Smart in Face of Adversity

SEOUL, Jun. 19 (Korea Bizwire) — As competition in the international steel industry stiffens due to oversupply, South Korean steel companies are embracing smart technology to prepare for the Fourth Industrial Revolution. At the forefront of this trend is South Korean steel-making company POSCO, which announced on Saturday that it has been adopting new artificial [...]

Daewoo Engineering Teams Up With Petroleum Trading Lao Public Company

Daewoo Engineering Teams Up With Petroleum Trading Lao Public Company

SEOUL, June 16 (Korea Bizwire) – Daewoo Engineering & Construction Co. inked an initial agreement with a Laotian partner to win infrastructure projects in the Southeast Asian country, the builder said Friday. On Thursday in Vientiane, Daewoo Engineering signed a memorandum of understanding (MOU) with Petroleum Trading Lao Public Co. (PTL) to build hydroelectric power [...]

Hyundai Samho Attracts 400 Bln-Won Investment via Pre-IPO

Hyundai Samho Attracts 400 Bln-Won Investment via Pre-IPO

SEOUL, June 8 (Korea Bizwire) – Hyundai Samho Heavy Industries Co., a midsized shipbuilder here, said Thursday that it has attracted 400 billion won (US$355 million) in investment from a local private equity firm via pre-initial public offering.  The investment is higher than the originally planned 300 billion won, Hyundai Samho said, signaling that investors [...]