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Gov’t Picks Two Locations for Smart Industrial Zones

Gov’t Picks Two Locations for Smart Industrial Zones

SEJONG, Feb. 20 (Korea Bizwire) — South Korea’s industry ministry on Wednesday announced its first batch of locations to establish what it calls smart industrial zones, which will utilize high-end information and communication technologies to improve companies’ productivity. The Ministry of Trade, Industry and Energy said it decided to apply smart factory technologies in the [...]

Hyundai Heavy-Daewoo Shipbuilding to Double Combined Orderbook for LNG Ships: Data

Hyundai Heavy-Daewoo Shipbuilding to Double Combined Orderbook for LNG Ships: Data

SEOUL, Feb. 19 (Korea Bizwire) — The proposed merger between Hyundai Heavy Industries (HHI) Co. and Daewoo Shipbuilding and Marine Engineering (DSME) Co. is expected to double the value of their outstanding orders for LNG ships to over US$12 billion, industry data showed on Tuesday. Hyundai Heavy, the world’s largest shipbuilder, is set to formally [...]

S. Korea’s Steel Exports to U.S. Drop by Bigger Margin than Rivals

S. Korea’s Steel Exports to U.S. Drop by Bigger Margin than Rivals

SEOUL, Feb. 19 (Korea Bizwire) — South Korea’s steel exports to the United States last year, regulated by a quota, fell more than those by key rivals China and Japan that were subject to higher tariffs, analyzed data indicated Tuesday. According to the analysis by the Washington office of the Korea Trade-Investment Promotion Agency (KOTRA), [...]

Hyundai Heavy to Sign Formal Deal to Take Over Daewoo Shipbuilding

Hyundai Heavy to Sign Formal Deal to Take Over Daewoo Shipbuilding

SEOUL, Feb. 12 (Korea Bizwire) — Hyundai Heavy Industries Co., the world’s largest shipyard by sales, is set to buy its smaller local rival Daewoo Shipbuilding & Marine Engineering Co., the state-run Korea Development Bank said Tuesday. KDB said Samsung Heavy Industries Co., a major South Korean shipyard, has stated its intention not to join [...]

Supreme Court Orders Reconsideration of FTC’s US$243 mln Penalty Ruling on Qualcomm

Supreme Court Orders Reconsideration of FTC’s US$243 mln Penalty Ruling on Qualcomm

SEOUL, Feb. 11 (Korea Bizwire) — South Korea’s Supreme Court has found that a 2009 penalty decision by the state antitrust watchdog against U.S. Qualcomm Inc. was not completely lawful, sending the case back to a lower court for reconsideration, court officials said Monday. The Fair Trade Commission (FTC) fined the global chipmaker 273.2 billion [...]

Samsung Heavy Unlikely to Join Race for Daewoo Shipbuilding Takeover

Samsung Heavy Unlikely to Join Race for Daewoo Shipbuilding Takeover

SEOUL, Feb. 8 (Korea Bizwire) — Samsung Heavy Industries Co., a major South Korean shipyard, is unlikely to join the race to take over Daewoo Shipbuilding & Marine Engineering Co., as its parent Samsung Group is not interested in further expanding its shipbuilding business, industry sources said Friday. Last month, the state-run Korea Development Bank [...]

S. Korean Rechargeable Battery Producers Focusing on Different Markets

S. Korean Rechargeable Battery Producers Focusing on Different Markets

SEOUL, Feb. 6 (Korea Bizwire) — South Korea’s top two leading rechargeable battery producers are focusing on different markets as they strive to expand their global presence in this key industry, market watchers said Wednesday. LG Chem Ltd. and Samsung SDI Co. have been moving in different directions as the worldwide market for high-capacity batteries [...]

Doosan Infracore Profit Expected to Hit Record High in 2018

Doosan Infracore Profit Expected to Hit Record High in 2018

SEOUL, Feb. 5 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, is forecast to have racked up record earnings last year, aided by increased sales of excavators in China and emerging markets, industry sources said Tuesday. According to industry data compiled by market researcher FnGuide, the company is forecast to have [...]

Merger Between Hyundai Heavy Industries and Daewoo Shipbuilding to Generate Synergy

Merger Between Hyundai Heavy Industries and Daewoo Shipbuilding to Generate Synergy

SEOUL, Feb. 1 (Korea Bizwire) — It is expected that a merger between Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. will create massive synergy not only in the South Korean shipbuilding industry, but also in maritime defense. Both companies are listed as major manufacturers of naval vessels and submarines, in charge [...]

Hyundai Heavy Inks Temporary Deal to Take Over Rival Daewoo Shipbuilding

Hyundai Heavy Inks Temporary Deal to Take Over Rival Daewoo Shipbuilding

SEOUL, Jan. 31 (Korea Bizwire) — The state-run Korea Development Bank said Thursday that it has signed a temporary memorandum of understanding (MOU) with Hyundai Heavy Industries Co., the world’s largest shipbuilder by sales, to sell its controlling stake in rival Daewoo Shipbuilding & Marine Engineering Co. On Wednesday, Hyundai Heavy expressed its intent to [...]