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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jan. 30 (Korea Bizwire) — POSCO, South Korea’s biggest steelmaker, said Wednesday that its net profit dropped 36 percent last year from a year earlier on a one-off valuation loss, reduced gains from asset sales and higher taxation. Net profit reached 1.89 trillion won (US$1.69 billion) on a consolidated basis, compared with a net [...]
SEOUL, Jan. 28 (Korea Bizwire) — South Korean shipping line Hyundai Merchant Marine Co. secured a 50 percent stake in a Busan terminal for a joint ownership with Singapore-based PSA International, the ocean ministry said Monday. The Ministry of Oceans and Fisheries said Hyundai bought back the stake of the Hyundai Pusan New-Port Terminal (HPNT), [...]
SEOUL, Jan. 24 (Korea Bizwire) — South Korea’s leading memory chip makers raked in unprecedented profits in 2018 on strong demand from data centers and smartphones, but they are now bracing for a down cycle caused by a supply glut and slowing global economy, market watchers said Thursday. SK hynix Inc., the world’s No. 2 [...]