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Chinese Shipbuilders Win Huge Chunk of Orders from S. Korean Shippers

Chinese Shipbuilders Win Huge Chunk of Orders from S. Korean Shippers

SEOUL, May 22 (Korea Bizwire) – Chinese shipbuilders have received orders from South Korean shippers to build 13 ships so far this year, while their South Korean rivals clinched deals from local shippers to build just seven ships, industry sources said Monday. According to related data, local shippers have placed orders so far this year [...]

S. Korean Firms Bask in China’s Excavator Market Boom

S. Korean Firms Bask in China’s Excavator Market Boom

SEOUL, May 22 (Korea Bizwire) – South Korean companies, led by Doosan Infracore Co., are witnessing robust sales in China’s excavator market as the world’s No. 2 economy increased spending on infrastructure, industry sources said Saturday. According to the data provided by NH Investment & Securities Co., a total of 13,673 excavators were sold in China in April, more than doubling from a year earlier. In the case of Doosan Infracore, South Korea’s top construction [...]

Environmental Policies Threaten POSCO’s 1-Trillion-Won Power Plant

Environmental Policies Threaten POSCO’s 1-Trillion-Won Power Plant

POHANG, South Korea, May 18 (Korea Bizwire) – POSCO’s 1-trillion-won ($887 million) thermal power plant in Pohang is likely to be scrapped amid growing concerns over fine dust and stringent environmental policies on the part of the current administration.  The world’s fourth-largest steelmaker has 13 generators of 20MW to 146MW-capacity at its Pohang steelworks, mainly [...]

Samsung Group Eyes Jump in Vietnam Sales

Samsung Group Eyes Jump in Vietnam Sales

HANOI, May 18 (Korea Bizwire) – South Korea’s top conglomerate Samsung Group expects sales of Samsung Electronics Co. and three other units in Vietnam to spike more than 30 percent on-year in 2017 on its strong smartphone business, sources said Wednesday.  Samsung Electronics, Samsung Display Co., Samsung Electro-Mechanics Co. and Samsung SDI Co. are targeting [...]

Hyundai, Kia Sell More Plug-In Hybrid EVs Overseas

Hyundai, Kia Sell More Plug-In Hybrid EVs Overseas

SEOUL, May 17 (Korea Bizwire) – Hyundai Motor Co. and Kia Motors Corp., South Korea’s two biggest carmakers, said Wednesday they have sold more plug-in hybrid electric vehicles (PHEVs) in overseas markets this year due to good consumer demand for the latest green cars.  In the January-April period, Hyundai and its sister company Kia exported [...]

Slump-Hit Shipbuilding Sector Cuts Workforce in 2016

Slump-Hit Shipbuilding Sector Cuts Workforce in 2016

SEOUL, May 17 (Korea Bizwire) – South Korean shipbuilders and related firms sharply reduced the size of their workforces last year in the face of a drawn-out slump, industry data showed Tuesday. According to the data compiled by industry tracker Chaebul.com, the shipbuilding sector slashed its workforce by 8,670 last year, or a 14.8 percent cut. The figure includes regular and nonregular workers. South Korea’s major [...]

Samsung’s “Master Program” Nurturing In-House Talent

Samsung’s “Master Program” Nurturing In-House Talent

SEOUL, May 16 (Korea Bizwire) – In 2009, Samsung Electronics introduced a “Master” program to help the company’s top researchers to make focused progress in their respective fields, and the initiative is now being adopted by other Samsung affiliates.  Prior to the program, senior researchers would have to take on general management roles when they [...]