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South Korean Government Plans to Establish 30,000 Smart Factories by 2025

South Korean Government Plans to Establish 30,000 Smart Factories by 2025

SEOUL, Apr. 21 (Korea Bizwire) — The South Korean government is poised to bring the number of smart factories in the country up to 30,000 by 2015, with plans to train 40,000 skilled workers in preparation for the ever-expanding fourth industrial revolution. Speaking to small and medium size business owners during a meeting at the [...]

Samsung Estimated to Make Less Than 100,000 Won Per Galaxy S8 Sold: Sources

Samsung Estimated to Make Less Than 100,000 Won Per Galaxy S8 Sold: Sources

SEOUL, April 21 (Korea Bizwire) – Samsung Electronics Co. is estimated to make less than 100,000 won (US$88.20) for each Galaxy S8 smartphones sold, industry watchers said Friday, hovering far below the market price of 935,000 won. The calculation is based on the fact that Samsung’s mobile business saw its operating margin reach 10.8 percent [...]

Samsung Reinforces “Club des Chefs Korea” For Innovative Goods

Samsung Reinforces “Club des Chefs Korea” For Innovative Goods

From left are chefs Kang Min-goo, Lim Ki-hak, Kwon Hyung-jun, Yim Jung-sik and Lee Chung-hoo. (Image: Yonhap) SEOUL, April 21 (Korea Bizwire) – Samsung Electronics Co. said Friday a renowned South Korean baker has joined the list of chefs providing one of the world’s leading consumer electronics manufacturer with insight and expertise for the development [...]

Apparent Supply Shortage Affects Galaxy S8 Registrations

Apparent Supply Shortage Affects Galaxy S8 Registrations

SEOUL, April 20 (Korea Bizwire) – The number of Samsung Electronics Co.’s Galaxy S8 smartphones registered to mobile carriers in South Korea slowed, industry sources said Thursday, apparently due to a shortage in supply following record-breaking preorders. The distribution of Galaxy S8 smartphones began earlier in the week ahead of the official release slated for [...]

Antitrust Watchdog Slaps 70.2 Bln-won Fine on Four Builders for Bid Rigging

Antitrust Watchdog Slaps 70.2 Bln-won Fine on Four Builders for Bid Rigging

SEJONG, April 20 (Korea Bizwire) – South Korea’s antitrust watchdog said Thursday that it has imposed a combined 70.2 billion-won (US$61.4 million) fine on four local builders for rigging bids for a state railway project. The four companies — Hyundai Engineering & Construction Co., Hanjin Heavy Industries & Construction Co., Doosan Heavy Industries & Construction [...]

POSCO Makes Additional Investment to Counter Air Pollution

POSCO Makes Additional Investment to Counter Air Pollution

POHANG, South Korea, April 18 (Korea Bizwire) – POSCO is investing an additional 50 billion won ($44.1 million) to reduce its greenhouse gas emissions.  According to local sources on Monday, the South Korean steel giant plans to boost its environmental measures, including reducing emissions of toxic chemicals and improving maintenance of emissions facilities, by establishing [...]

Daewoo Shipbuilding’s Main Bondholder Accepts Debt Rescheduling Measures

Daewoo Shipbuilding’s Main Bondholder Accepts Debt Rescheduling Measures

SEOUL, April 17 (Korea Bizwire) – The main bondholder of Daewoo Shipbuilding & Marine Engineering Co. on Monday agreed to the voluntary debt rescheduling measures proposed by the state-run Korea Development Bank (KDB).  The National Pension Service Investment Management said it held a meeting of its investment committee and accepted measures to keep afloat the [...]

Chinese TV Maker Skyworth Accused of Ripping Off LG’s ‘Wallpaper’ TV

Chinese TV Maker Skyworth Accused of Ripping Off LG’s ‘Wallpaper’ TV

SEOUL, April 14 (Korea Bizwire) — A newly revealed 65-inch TV from Chinese manufacturer Skyworth is being accused of copying LG Electronics’ signature OLED TV W model with a name and a design so similar they are almost indistinguishable. The revelation of a new ‘wallpaper’ slim TV model by Skyworth came yesterday at a conference held [...]