SEOUL, Dec. 24 (Korea Bizwire) — South Korean shipbuilders showed better-than-expected performances this year on a rise in new orders, especially those for LNG ships, industry sources said Monday. The country’s shipbuilding sector, once a cornerstone of the country’s economic growth and job creation, has been reeling from mounting losses in the past few years, [...]
SEOUL, Dec. 19 (Korea Bizwire) — South Korea’s No. 2 chipmaker, SK hynix Inc., on Wednesday held a groundbreaking ceremony for a new chip production line that is expected to commence operations in October 2020. The M16 production line, located in Icheon, 80 kilometers southeast of Seoul, will be built on a 53,000-square meter lot. [...]
SEOUL, Dec. 18 (Korea Bizwire) — South Korean shipbuilders have bagged over 80 percent of new orders placed around the globe this year to build liquefied natural gas (LNG) carriers, industry data showed Tuesday. According to the data, Korean shipyards clinched new orders to build 56 LNG carriers in total, which is 86 percent of [...]
SEOUL, Dec. 18 (Korea Bizwire) — The local semiconductor industry is waiting for the latest corporate performance results of U.S. rival firm Micron Technology, Inc to get a better idea of where it is headed, officials said Tuesday. Micron is due to announce its profits for the September-November period Wednesday. “The market’s concern grew when [...]
SEOUL, Dec. 17 (Korea Bizwire) — The CTO of HiSilicon Technologies Co., the semiconductor design company of China’s Huawei Technologies Co., was previously employed as an executive director at Samsung Electronics Co. The industry was shocked when Huawei successfully poached the high-ranking Samsung executive. He was the key figure who had developed Samsung Electronics’ 10-nanometer [...]
SEOUL, Dec. 14 (Korea Bizwire) — An increase in the minimum wage has helped improve productivity at South Korean manufacturing firms in general, but its impact varied by sector and size of business, a report said Friday. South Korea’s minimum wage has gradually increased since the government first implemented the policy in 1988. Between 2011-2016, [...]
SEOUL, Dec. 13 (Korea Bizwire) — The South Korean government said Thursday it will greatly expand the number of smart factories and industrial complexes that adopt advanced technologies by 2022 to upgrade the nation’s manufacturing industry. The Ministry of Trade, Industry and Energy and the Ministry of SMEs and Startups jointly announced support measures for [...]
SEOUL, Dec. 12 (Korea Bizwire) — Global shipping companies have started to take an interest in the Port of Incheon, South Korea’s second-largest port and a potential gateway to new shipping routes. With interest rising, expectations are starting to grow that new shipping routes will follow. According to a statement from the Incheon Port Authority [...]
SEOUL, Dec. 9 (Korea Bizwire) – South Korea’s major shipyards have shown decent performances this year on the back of a surge in orders to build LNG carriers, industry data showed Sunday. For the year up to Thursday, 52 orders for LNG carriers were received by local entities, with Hyundai Heavy Industries Co. bagging the [...]
SEJONG, Dec. 9 (Korea Bizwire) — The U.N. maritime agency has approved guidelines on the application of POSCO’s steel product, officials said Friday, paving the way for global sales of high manganese austenitic steel for liquefied natural gas (LNG) tanks. The International Maritime Organization (IMO) made the decision in favor of POSCO’s steel for cryogenic [...]