SEOUL, Nov. 27 (Korea Bizwire) — BASF, the world’s leading chemicals company, has expanded its production facilities in South Korea to meet growing demand in the domestic and Asian markets, the company said Monday. The German chemicals company has just started operation of a new electronic materials plant in Yeosu, 455 kilometers south of Seoul, [...]
SEOUL, Nov. 27 (Korea Bizwire) — LG Diplay Co.’s share of the market for large display panels fell to the No. 2 spot for the first time since 2009, data showed Monday, paving the way for the rise of China’s BOE Technology Group. According to the data compiled by industry tracker IHS Markit, China’s BOE [...]
SEOUL, Nov. 24 (Korea Bizwire) – Apart from semiconductors, a large segment of Chinese industry has already caught up to South Korea according to Chairman Jin Sae-dae of Skylake Investment Co, who said at a “CEO Book Club” congress on November 23 that Chinese companies were progressing rapidly into new business sectors thanks to a [...]
SEOUL, Nov. 24 (Korea Bizwire) – The United States International Trade Commission (ITC) has recommended a 50 percent tariff rate on South Korean washing machine sold in the U.S. market, a move that could severely hamper sales for the likes of Samsung and LG. The recommendation by the ITC is widely interpreted among South Korean electronics [...]
SEOUL, Nov. 23 (Korea Bizwire) – Samsung’s Semiconductor Division is reaping the benefits of a semiconductor boom that has equated to exports increasing by 53.9 percent through Q3 compared to the same period last year. According to a statement from the Ministry of Trade, Industry and Energy on November 15, semiconductors at 16 percent make [...]
SEOUL, Nov. 22 (Korea Bizwire) — Hankook Tire Manufacturing Co., the world’s seventh-largest tiremaker by sales, said Wednesday it has signed a deal with China’s state oil firm to sell its truck and bus tires. In August, Hankook Tire began to produce truck and bus radial tires (TBRs) at one of its three plants in [...]
SEOUL, Nov. 20 (Korea Bizwire) – Samsung Electronics Co. is expected to outpace U.S.-based Intel Corp. in terms of sales this year and emerge as the world’s No. 1 chip maker, data showed Monday. According to the data compiled by industry tracker IC Insights, Samsung will likely post sales of US$65.6 billion in the chip segment to account for 15 percent of the global market. Intel, on [...]
SEOUL, Nov. 20 (Korea Bizwire) — Global oil prices have rallied in the past weeks and may settle above the US$60 level in the near future, a boon for Korean shipbuilders still struggling with falling new orders, industry sources said Monday. Oil prices rebounded Friday on hopes for the extension of an OPEC output cut [...]
SEOUL, Nov. 17 (Korea Bizwire) — Capital spending among chipmakers is expected reach US$90.8 billion this year, an industry tracker said Friday, with South Korea’s Samsung Electronics Co. leading the pact. According to the data compiled by IC Insights, Samsung Electronics’ annual facility investment for this year is estimated at $26 billion, accounting for more [...]
SEOUL, Nov. 15 (Korea Bizwire) – South Korean tech giants said Wednesday no damage has been reported at production plants following the magnitude 5.4 earthquake which struck the southeastern city of Pohang earlier in the day. The quake occurred at around 2:29 p.m. some 9 kilometers north of Pohang, the Korea Meteorological Administration said. The quake was felt across [...]