SEOUL, Feb. 6 (Korea Bizwire) – One of South Korea’s aerobatic airplanes participating in an international air show in Singapore skidded off a runway Tuesday, but the aircraft’s pilot was safe and without major injuries, the South Korean Air Force said. The runway overrun by an airplane belonging to the Air Force’s Black Eagles air [...]
SEOUL, Feb. 6 (Korea Bizwire) – Korea Aerospace Industries Co. (KAI), South Korea’s sole aircraft manufacturer, will promote its products at this year’s Singapore Airshow for possible deals with foreign customers, the company said Tuesday. At the 2018 Singapore Airshow, which runs through Sunday, KAI showcased the KT-1 basic and the T-50 advanced trainers. It [...]
SEOUL, Feb. 5 (Korea Bizwire) — South Korean chip exports are expected to continue to post solid growth this year, though its pace may slow down from last year’s exponential expansion, a report showed Sunday. The Korea Institute for Industrial Economics & Trade (KIET) forecast the country’s exports will increase 18.6 percent in 2018, lower [...]
SEOUL, Jan. 30 (Korea Bizwire) — Samsung Electronics Co. and LG Electronics Inc. said Tuesday they have set up new logistics facilities in the United States in an apparent move to better cope with U.S. safeguard measures. Samsung Electronics America has signed a deal with a real-estate firm to lease a 421,000-square-foot facility in Edgefield [...]
SEOUL, Jan. 29 (Korea Bizwire) — Hankook Tire Manufacturing Co., the world’s seventh-biggest tiremaker by sales, said Monday it will supply tires to all Scania’s construction vehicles. Hankook Tire began to supply original equipment (OE) tires to the European commercial vehicle company in November 2016. In its latest deal, the tiremaker will supply OE tires [...]
SEOUL, Jan. 29 (Korea Bizwire) — Sluggish iPhone X sales rumors are adversely affecting earnings forecasts for South Korean electronic parts suppliers, market watchers said Sunday. Local stock market and industry watchers said earnings estimates for chipmakers SK hynix Inc. and Samsung Display, as well as LG Display and LG Innotek, have been downgraded for [...]
SEOUL, Jan. 29 (Korea Bizwire) — South Korea’s leading shipyards had the top three order backlogs among global shipbuilders at the end of 2017 due mainly to work received before the worldwide drop in demand, industry data showed Sunday. According to Clarkson Research’s latest World Shipyard Monitor, Daewoo Shipbuilding and Marine Engineering Co. (DSME) Okpo, [...]
SEOUL, Jan. 26 (Korea Bizwire) — The South Korean government’s plan to file a WTO petition against U.S. safeguard measures is unlikely to buoy the spirits of local exporters, as previous cases have proven ineffective. Following the U.S. government’s decision to impose anti-dumping duties on South Korean washing machines and solar panels, the South Korean [...]
SEOUL, Jan. 25 (Korea Bizwire) — SK hynix Inc., a major South Korean chipmaker, said Thursday its net profit jumped 97.7 percent to reach an all-time high in the fourth quarter from a year earlier largely due to strong chip prices on continued favorable market conditions. Net profit came to 3.22 trillion won (US$3 billion) [...]
SEOUL, Jan. 24 (Korea Bizwire) — Exports of oil and related goods by South Korean refiners reached an all-time high last year on strong demand and higher oil prices, industry data showed Wednesday. Oil and petrochemical goods exported by SK Innovation Co., GS-Caltex Co., S-Oil Corp., Hyundai Oilbank Co. and others reached 472.32 million barrels [...]