GEOJE, Feb. 28 (Korea Bizwire) — The city of Geoje in South Gyeongsang Province held a meeting with residents on Tuesday to discuss issues surrounding the takeover of Daewoo Shipbuilding & Marine Engineering Co. Currently, more than 9,700 people work at Daewoo Shipbuilding’s Geoje Okpo Shipyard. Including employees of partner firms, more than 17,000 workers [...]
SEOUL, Feb. 28 (Korea Bizwire) — LG Display took a jab at industry rival Samsung Electronics on Thursday by arguing in favor of the superiority of its OLED panel over LCD. Kang In-byeong, the company’s chief technology officer, emphasized the fundamental difference between organic light-emitting diode (OLED) and liquid crystal display (LCD) panels during a [...]
SEOUL, Feb. 26 (Korea Bizwire) — POSCO, South Korea’s leading steelmaker, said Tuesday that it plans to spend some 1.1 trillion won (US$984 million) by 2021 to sharply reduce fine dust. Under the plan, some 700 billion won will be spent to remodel or newly build its 21 power-generating facilities for a sharp reduction of [...]
SEOUL, Feb. 26 (Korea Bizwire) — Unionized workers at Daewoo Shipbuilding & Marine Engineering Co. went on strike Tuesday in a show of opposition to the planned sale to Hyundai Heavy Industries Co. Last week, workers at Daewoo Shipbuilding approved a walkout against the proposed deal. The shipbuilder’s union said its workers at the Geoje [...]
SEJONG, Feb. 26 (Korea Bizwire) — The jobless rate in the southeastern city of Geoje hit a new record of 7.1 percent in the second half of 2018, the highest level in South Korea, government data showed Tuesday. The figure marks the highest jobless rate for Geoje since the country started compiling jobs data for [...]
SEOUL, Feb. 22 (Korea Bizwire) — The South Korean government said Friday it will move to lift regulations to pave the way for the country’s No. 2 chipmaker SK hynix Inc.’s to build a semiconductor cluster in the Seoul metropolitan area. The Ministry of Trade, Industry and Energy said it plans to request the Ministry [...]
SEOUL, Feb. 21 (Korea Bizwire) — SK hynix Inc., the world’s second-largest memory chip maker, said Thursday it has officially expressed interest in creating a semiconductor cluster in Yongin, Gyeonggi Province, about 50 kilometers south of Seoul. A special purpose company has submitted a letter of investment intent, for investing in Yongin, to the city’s [...]
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 [...]
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 [...]
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), [...]