SUWON, Sept. 14 (Korea Bizwire) – A new survey has revealed that nearly half of small and medium-sized South Korean companies that focus on the new technologies such as smart health care and drones face difficulties due to ‘too many regulations,’ with the resulting economic damages estimated to reach 200 million won per company. The [...]
SEJONG, Sept. 14 (Korea Bizwire) — South Korea’s major chemical companies will join forces to invest 10 trillion won (US$8.84 billion) in upgrading an industrial complex on the west coast, the government said Thursday. Lotte Chemical Corp., S-Oil Corp. and Hanwha Total Petrochemical Co. signed a memorandum of understanding with the provincial government for the [...]
SEOUL, Sept. 13 (Korea Bizwire) — South Korea’s semiconductor exports are expected to exceed US$90 billion this year due to increased overseas chip demand and higher prices, an international traders organization said Wednesday. In the January-August period, outbound shipments of computer chips surged 52 percent on-year to $59.5 billion, the Korea International Trade Association (KITA) [...]
SEOUL, Sept. 13 (Korea Bizwire) — Canada’s border authorities said they have imposed up to 107.2 percent provisional duties on South Korean steel products in a preliminary ruling that could deal a blow to South Korean companies. The Canada Border Services Agency said on its website checked here Tuesday that it “made a preliminary determination” [...]
DAEJEON, Sept. 12 (Korea Bizwire) – The Korean Intellectual Property Office’s “Chinese Trademark Brokerages Early Warning Service” is providing a big boost to South Korean companies who have struggled from trademark theft. Since its inception last year, the Korean Intellectual Property Office (KIPO) has requested the State Intellectual Property Office (SIPO) of China to run [...]
SEOUL, Sept. 12 (Korea Bizwire) – Kumho Asiana Group, South Korea’s airline-to-construction conglomerate, said Tuesday it has submitted a self-rescue plan for its tire unit to creditors. The move comes as the creditors asked the group to prepare a self-help program for Kumho Tire Co. by 6:00 p.m. following the collapse of a deal to [...]
SEOUL, Sept. 8 (Korea Bizwire) – Samsung Electronics Co. said Friday the combined preorders for its Galaxy Note 8 in South Korea reached nearly 400,000 units on the first day, far outpacing its predecessor. The South Korean tech giant said around 395,000 consumers applied to purchase the phablet Thursday. The figure eclipses numbers for the ill-fated Galaxy Note 7, [...]
SEOUL, Sept. 7 (Korea Bizwire) – Samsung Electronics Co. maintained its top global smartphone maker title in June and July, data showed Thursday, with China-based Huawei Technologies Inc. rising to No. 2 for the first time ever on a monthly basis. According to the data compiled by Counterpoint Research, Samsung Electronics accounted for more than [...]
SEOUL, Sept. 7 (Korea Bizwire) — GM Korea President Kaher Kazem addressed concerns regarding a possible pullout from South Korea at the company’s headquarters in the Bupyeong District of Incheon on September 6. As part of the face-to-face with the media, reporters were given access to the normally off-limits Design Center where they got a [...]
SEOUL, Sept. 6 (Korea Bizwire) – The government’s intention to reduce the maximum limit of weekly working hours from 68 to 52 has caused Samsung Electronics’ senior management to try a 52-hour work week test run. According to rumblings from within the electronics industry, departmental heads received memos advising them to “encourage staff to reduce [...]