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Despite Highest Rate of Industrial Robots Per Worker, South Korea Lags Behind in Robotics

Despite Highest Rate of Industrial Robots Per Worker, South Korea Lags Behind in Robotics

SEOUL, Aug. 21 (Korea Bizwire) – Despite boasting the highest number of industrial robots per worker, South Korea is lagging far behind the U.S., Europe and Japan when it comes to technology in robot manufacturing, according to a new report. The report on the global robotics industry released by the Bank of Korea on Sunday says [...]

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 [...]

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 [...]

Electronics Industry Struggling to Overcome Labor Shortage

Electronics Industry Struggling to Overcome Labor Shortage

SEOUL, Aug. 15 (Korea Bizwire) — South Korea’s electronics industry, including semiconductor manufacturers, has been struggling with a shortage of workers, an industry report showed on Tuesday. The findings, released by the Korea Electronics Association, a business lobby group, raised alarm bells for the future of the industry that accounts for about 33 percent of [...]

Daewoo Shipbuilding Logs Profit for Second Straight Quarter

Daewoo Shipbuilding Logs Profit for Second Straight Quarter

SEOUL, Aug. 14 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a troubled shipbuilder here, said Monday that it posted a profit for the second straight quarter in the second quarter, largely thanks to cost-cutting measures and increased delivery of offshore facilities. Net profit reached 1.26 trillion won (US$1.1 billion) in the April-June period, [...]

South Korean Company Unveils Robot Barista

South Korean Company Unveils Robot Barista

GIMHAE, Aug. 14 (Korea Bizwire) — A South Korean robotics company has revealed an unmanned barista that is capable of all stages of coffee making from taking orders and making coffee to serving customers, a device that some speculate could replace coffeehouse workers in the near future. The coffee-making robot, which makes coffee and serves [...]

Hyundai Motor Suffers Double Whammy of Weak Earnings, Labor Dispute

Hyundai Motor Suffers Double Whammy of Weak Earnings, Labor Dispute

SEOUL, Aug. 14 (Korea Bizwire) – Hyundai Motor Co., South Korea’s top automaker, is facing a double whammy of sluggish earnings and a looming labor dispute, which have been sending its stocks lower for couple of weeks, watchers said Saturday. Hyundai Motor closed 2.07 percent lower at 142,000 won (US$123) on the Seoul bourse on Friday, a sharp fall from its 52-week high of 173,000 won on May 23. Hyundai, [...]