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Samsung Aims to Overcome Biz Hurdles Through 180tln Won Investment

Samsung Aims to Overcome Biz Hurdles Through 180tln Won Investment

SEOUL, Aug. 8 (Korea Bizwire) — Samsung Electronics Co. on Wednesday declared that it will make investments worth a whopping 180 trillion won (US$160 billion) over the next three years, seeking to effectively overcome various challenges to its business and its relationship with a government that has maintained a tough stance on family-controlled firms. The [...]

40 Entities Lauded for Positive Labor-Management Relations

40 Entities Lauded for Positive Labor-Management Relations

SEOUL, Aug. 7 (Korea Bizwire) — The Ministry of Employment and Labor announced yesterday that it had designated 40 entities as “corporations with excellent labor-management culture.” Among the companies honored are 15 large corporations, 13 SMEs and 12 public institutions. Petrochemical giant SK Energy was lauded for two internal programs that helped better labor-management relations [...]

The Dark Side of the Shipbuilding Industry’s Struggles

The Dark Side of the Shipbuilding Industry’s Struggles

SEOUL, Aug. 3 (Korea Bizwire) — Of all the member states within the Organisation for Economic Co-operation and Development (OECD), South Korea has the highest suicide rate. Although it has fallen slightly in recent years, the rate has gone up again due to the slowdown in the shipbuilding sector in South Gyeongsang Province. According to [...]

Samsung to Fund 50bln Won to Support Small Biz Smart Factories

Samsung to Fund 50bln Won to Support Small Biz Smart Factories

SEOUL, Jul. 31 (Korea Bizwire) — Samsung Electronics Co. said Tuesday it will donate 50 billion won (US$44.7 million) to an industrial foundation to help small firms set up smart-factory infrastructure in their production centers. The South Korean tech giant said through a regulatory filing that its board has decided to provide 10 billion won [...]

SK hynix to Build New Plant in Icheon with 3.5 tln Won

SK hynix to Build New Plant in Icheon with 3.5 tln Won

SEOUL, Jul. 27 (Korea Bizwire) — SK hynix Inc. said Friday it will build a new semiconductor fabrication (FAB) plant at its headquarters in Icheon, southeast of Seoul, seeking to cope with the rising demand for memory chips around the globe. South Korea’s No. 2 chipmaker said the construction will begin later this year, which [...]

Samsung Display’s ‘Unbreakable’ Display Certified in U.S.

Samsung Display’s ‘Unbreakable’ Display Certified in U.S.

SEOUL, Jul. 26 (Korea Bizwire) — Samsung Display Co. said Thursday its unbreakable smartphone panel has been certified in the United States, claiming it can be applied on various devices from smartphones to military equipment. The display maker, under tech giant Samsung Electronics Co., said the unbreakable panel was approved by Underwriters Laboratories, an official [...]

Former Kaesong Industrial Complex Companies Shift Production to Vietnam

Former Kaesong Industrial Complex Companies Shift Production to Vietnam

SEOUL, Jul. 25 (Korea Bizwire) — A number of local companies that operated factories situated in the Kaesong Industrial Complex are relocating to Vietnam and other countries after being unable to deal with rising labor costs. According to the association of companies that has production facilities in Kaesong, of the 123 companies that operated factories [...]