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Archive by category Manufacturing

Samsung to Test Automotive LED Products with Germany’s TUV SUD

SEOUL, Oct. 24 (Korea Bizwire) – Samsung Electronics Co. said Tuesday it will work with Germany-based TUV SUD to certify the performance of its light-emitting diode (LED) products for automobiles. TUV SUD is a German inspection and certification firm that boasts a history of testing automobile parts going back more than 100 years. Under the agreement, Samsung will have its LED products verified by TUV SUD, ensuring performance and reliability for consumers. Products that pass tests [...]

$Doosan Infracore, Hyundai Expanding Presence in Emerging Markets$

Doosan Infracore, Hyundai Expanding Presence in Emerging Markets

SEOUL, Oct. 24 (Korea Bizwire) — South Korean construction equipment makers, led by Doosan Infracore Co., are witnessing a surge in sales of excavators in India and other emerging countries in addition to their stellar performance in China, industry sources said Tuesday. In the first half of the year, Doosan Infracore saw its sales in [...]

Hyundai Heavy Inks Deal to Build 5 More Ore Carriers

SEOUL, Oct. 23 (Korea Bizwire) — Hyundai Heavy Industries Co., a major shipyard in South Korea, said Monday that it has clinched a deal worth 450 billion won (US$397 million) to build five very large ore carriers (VLOCs). Under the deal with Polaris Shipping Co., Hyundai Heavy will hand over the vessels in phases. The [...]

Semiconductor Boom Leading to Increased Industrial Investment, but Employment Still Lagging Behind

SEOUL, Oct. 20 (Korea Bizwire) – Details of a report from the Bank of Korea released October 19 indicate that the recent boom in semiconductor manufacturing for domestic companies has led to increased plant and equipment investment, while employment figures remain nearly constant. The report identified the periods between the fourth quarters of 2002 and [...]

Samsung and LG Say Whirlpool’s Call for Safeguard Tariff Could Hurt Consumer Choice

SEOUL, Oct. 20 (Korea Bizwire) — South Korean consumer electronics producers Samsung and LG have said American refrigerator manufacturer Whirlpool’s growing calls for U.S. trade authorities to impose safeguard tariffs on its rivals could restrict choices for consumers. The two South Korean electronics giants are increasingly having to defend their position in the U.S. refrigerator market [...]

Korean Air, Boeing Sign MOU for Chinook Helicopter Upgrade

SEOUL, Oct. 19 (Korea Bizwire) – Korean Air Lines Co. has signed a deal to partner with Boeing Co. to cooperate on technology in upgrading the CH-47 Chinook helicopter, the company said Thursday. The Korean flag carrier and the U.S. aircraft manufacturer signed a memorandum of understanding (MOU) for the partnership at the Seoul International Aerospace & Defense Exhibition (ADEX) 2017 being held in Seongnam, just south [...]

Auto Exports Surge in September

SEJONG, Oct. 18 (Korea Bizwire) — South Korea’s exports of automobiles jumped nearly 60 percent last month from a year earlier on recovering demand from Europe and North America, government data showed Wednesday. The total value of vehicles shipped overseas reached US$3.82 billion in September, up 57.6 percent from a year earlier, according to the [...]

LG Head Donates 100 Million Won to Family of Slain Soldier

SEOUL, Oct. 17 (Korea Bizwire) – LG Group Chairman Koo Bon-moo on Tuesday donated 100 million won (US$88,355) to the family of a soldier who was recently killed in an accident while performing his military duty, the conglomerate said. Last month, a 22-year-old soldier surnamed Lee was hit in the head by a stray bullet [...]

$Doosan Infracore Posts Brisk Sales in Chinese Market$

Doosan Infracore Posts Brisk Sales in Chinese Market

SEOUL, Oct. 16 (Korea Bizwire) — Doosan Infracore Co., South Korea’s top construction equipment maker, continued to expand its presence in China’s excavator market, as the world’s No. 2 economy increased spending on infrastructure, industry sources said Monday. According to observers, Doosan Infracore sold a total of 718 excavators in China last month, more than [...]

Samsung Electronics Forecasts Record High Operating Profit for Q3

SEOUL, Oct. 13 (Korea Bizwire) – South Korean tech giant SamsungElectronics Co. said Friday that its third-quarter operating profit is expected to have nearly tripled on-year, apparently on the sound returns from its computer chip business. Operating profit was estimated at 14.5 trillion won (US$12.8 billion), compared with 5.2 trillion won tallied a year earlier, the company [...]