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Korean Companies Turn Japanese Export Restrictions into Opportunity

Korean Companies Turn Japanese Export Restrictions into Opportunity

SEOUL, March 26 (Korea Bizwire) – South Korean companies that embarked on domestic production of hydrogen fluoride after Japan’s export restriction last year have recorded satisfactory performance. It is seen as an exemplary case where companies, both large and small, and the government joined hands to turn the crisis into opportunity. Soulbrain Co., a South [...]

Doosan Heavy Mulling Paid Leave to Idle Employees amid Deepening Crisis

Doosan Heavy Mulling Paid Leave to Idle Employees amid Deepening Crisis

SEOUL, March 11 (Korea Bizwire) — Doosan Heavy Industries & Construction Co., South Korea’s largest power equipment maker, said Wednesday it is considering asking idle workers to take paid leave as part of efforts to cut costs amid dwindling orders. Doosan Heavy said idle workers can receive 70 percent of their basic monthly wage for [...]

S. Korea Expected to be 2nd in Fab Equipment Spending This Year

S. Korea Expected to be 2nd in Fab Equipment Spending This Year

SEOUL, March 10 (Korea Bizwire) — South Korea is expected to be the second-biggest spender on semiconductor manufacturing equipment this year, industry data showed Tuesday, as the global chip industry is likely to make a recovery despite the novel coronavirus outbreak. South Korea, home to major memory chip producers Samsung Electronics Co. and SK hynix [...]

Samsung Develops Advanced Battery Tech for EVs

Samsung Develops Advanced Battery Tech for EVs

SEOUL, March 10 (Korea Bizwire) — Samsung Electronics Co. said Tuesday its researchers have developed an advanced battery technology that can boost performance of electric vehicles (EVs). Samsung’s study on new all-solid-state battery technology was presented to Nature Energy, one of the world’s leading scientific journals, the South Korean tech giant said. Compared with lithium-ion [...]

Samsung Temporarily Moves Smartphone Production to Vietnam over Virus Case

Samsung Temporarily Moves Smartphone Production to Vietnam over Virus Case

SEOUL, March 6 (Korea Bizwire) — Samsung Electronics Co. said Friday it will temporarily move some of its smartphone production to Vietnam, after shutting down a local factory following a positive coronavirus test there. Samsung shut down the factory in the southeastern city of Gumi after a worker tested positive for the new coronavirus. Samsung [...]

LG Chem Buys Turkish Plant in Poland for EV Output Expansion

LG Chem Buys Turkish Plant in Poland for EV Output Expansion

SEOUL, March 3 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemicals company, said Tuesday it has acquired a Turkish television assembly factory in Poland for US$31.4 million to expand its plant for electric vehicle (EV) batteries. LG Chem signed the deal with Turkish electronics and appliance maker Vestel last month, a company official [...]