SEOUL, May 31 (Korea Bizwire) – Nearly half of the top 30 conglomerates in the country in 2000 either fell out of the rankings or have been dissolved, with only Samsung Group firmly entrenched in the No. 1 position, an analysis showed Wednesday. Corporate tracker CEO Score compared the top 30 business groups of 2000 and those in 2016 in terms of state-appraised assets. Over the [...]
SEOUL, May 31 (Korea Bizwire) – LG MMA Co., an affiliate of South Korean conglomerate LG Group, said Wednesday it will spend some 130 billion won (US$116 million) to expand its facility in the country to meet growing demand for methylmethacrylate (MMA), used for various industrial materials. LG MMA, a joint venture with Japan’s Sumitomo [...]
SEOUL, May 31 (Korea Bizwire) – POSCO, South Korea’s biggest steelmaker, suffered a dip in its global standing by coming in as the fifth-largest steel-producing firm, largely due to the merger of two Chinese players, industry data showed Wednesday. The data from the World Steel Association showed the Pohang-based company produced 41.56 million tons of [...]
SEOUL, May 31 (Korea Bizwire) – Creditors of cash-strapped Daewoo Shipbuilding & Marine Engineering Co. are set to inject fresh funds into the embattled shipyard next week, later than earlier scheduled, due to the delay in the debt rescheduling scheme, industry sources said Wednesday. According to the sources, the state-run Korea Development Bank-led creditors are [...]
SEOUL, May 31 (Korea Bizwire) – South Korea’s auto production in the first quarter fell to the lowest level in seven years for the three-month period, data showed Thursday, further threatening its status as a leading car manufacturer. South Korea produced close to 1.05 million vehicles from January through March, down 2.8 percent from the [...]
SEOUL, May 30 (Korea Bizwire) – South Korean imports of commercial vehicles jumped more than 19 percent on-year in the first four months of the year despite an overall tumble in inbound auto shipments, data showed Tuesday. Imports of trucks, buses and special vehicles came to 3,284 units in the January-April period, up 19.1 percent [...]
SEOUL, May 29 (Korea Bizwire) – The latest marketing trend among imported luxury automakers is the introduction of “Korea Edition” models. According to industry watchers, McLaren Seoul is launching five limited edition models of the 570S Korea Edition, based on the McLaren 570S Coupe and manufactured by the McLaren Special Operations division. To be sold [...]
SEOUL, May 29 (Korea Bizwire) – Cautious optimism is spreading that South Korean shipbuilders may be able to pull out of a drawn-out slump on the back of rising new orders, industry sources said Monday. According to the sources, Samsung Heavy Industries Co., one of the country’s top three shipbuilders, has recently clinched a US$100 [...]
SEOUL, May 29 (Korea Bizwire) — A South Korean consortium has held a ceremony to mark the completion of a gas-fired combined cycle plant in Antofagasta, Chile, that will supply electricity to BHP Billiton Ltd.’s copper mine. Samsung Engineering Co., a construction unit of Samsung Group, celebrated the opening of the 517 megawatt plant Friday [...]
SEJONG, May 26 (Korea Bizwire) – South Korea’s exports of rechargeable batteries reached a fresh record high in 2016 on rising global demand for smart devices and electric vehicles, customs data showed Friday. Outbound shipments of accumulators, such as lithium-ion batteries amounted to a record US$4.4 billion in 2016, up 11.6 percent from $3.94 billion [...]