SEOUL, April 4 (Yonhap) – Asiana Airlines Inc. said Tuesday it will increase flights on routes to Japan and Southeast Asia in the second quarter to offset lower demand from China. Asiana, the country’s second-biggest passenger carrier by sales, will flexibly respond to sharp declines in inbound Chinese travelers by reducing flights on routes to and [...]
SEOUL, April 4 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Tuesday that it has clinched a US$250 million deal to build three very large crude carriers (VLCCs). Under the deal with Maran Tankers Management, a unit of Greece’s largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding will deliver [...]
SEOUL, April 4 (Korea Bizwire) – Recent data from the Korea Trade-Investment Promotion Agency (Kotra) reveals that 82 percent of local manufacturers are prioritizing seeking cheaper labor outside of the country, ultimately undermining their productivity. Based on the business performance of 1,474 South Korean manufacturers with overseas plants, 12.6 percent fell within Kotra’s “high-cost, high-productivity” [...]
SEOUL, April 4 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Tuesday that it has clinched a US$250 million deal to build three very large crude carriers (VLCCs). Under the deal with Maran Tankers Management, a unit of Greece’s largest shipper, Angelicoussis Shipping Group, Daewoo Shipbuilding will deliver [...]
SEOUL, Apr. 3 (Korea Bizwire) — Samsung Electronics Co.’s global market share in DRAMs and TVs rose in 2016, while it lost ground in mobile phones and displays, the company’s business report showed Sunday. The report based on data collected by various market researchers said the tech giant controlled 21.6 percent of the TV market last [...]
SEOUL, Apr. 3 (Korea Bizwire) — South Korea’s science ministry said Sunday that it will spend 41.2 billion won (US$37 million) this year to develop core 3D printing expertise to nurture the fledging industry. The 2017 budget will be spent on various 3D printing businesses to spur demand and strengthen national competitiveness, the Ministry of [...]
HANOI, Apr. 3 (Korea Bizwire) — Vietnam’s decision to slap anti-dumping duties on galvanized steel products from South Korea could hurt efforts to expand market presence in the key Southeast Asian country, industry sources in Hanoi said Sunday. According to the Korea Trade-Investment Promotion Agency (KOTRA), Vietnam will be levying stiff import duties on South Korean [...]
SEOUL, April 2 (Korea Bizwire) – Samsung Electronics Co., the world’s largest manufacturer of smartphones, slightly reduced its expenditures on research and development (R&D) projects last year, data showed Wednesday, as it sought to acquire key technologies through mergers and acquisitions, data showed Sunday. Samsung Electronics Co. spent 14.79 trillion won (US$13.2 billion) on R&D [...]
SEOUL, March 31 (Korea Bizwire) – Affiliates of construction and power equipment conglomerate Doosan Group are expected to further improve their bottom lines this year, aided by increased sales and cost-cutting measures, an executive said Friday. “This year, key Doosan affiliates are forecast to post improved earnings this year, and we will strive to meet [...]
SEOUL, March 31 (Korea Bizwire) – The facial recognition technology equipped in Samsung Electronics Co.’s new flagship smartphone, the Galaxy S8, will not be sufficient to guarantee the phones’ security, industry sources said Friday. “The phones can be unlocked by the face of a sleeping person, or even just by a photo,” an industry watcher [...]