SEOUL, Nov. 25 (Korea Bizwire) – In an effort to move away from stagnant investment in the semiconductor industry, local semiconductor equipment manufacturers are expanding into the OLED market, which has been increasing in terms of both profitability and investment from Korea and overseas. According to the Financial Supervisory Service, semiconductor manufacturer Jusung Engineering’s display [...]
SEOUL, Nov. 25 (Korea Bizwire) – Shareholders of Daewoo Shipbuilding & Marine Engineering Co. on Friday approved a proposed capital reduction scheme, paving the way for the troubled shipbuilder to receive financial aid from its creditors. The shipbuilder said its shareholders gave the nod to the 10-to-1 capital reduction for shareholders. Earlier, its creditors, led [...]
SEOUL, Nov. 25 (Korea Bizwire) – BMW Korea, the local importer and distributor of BMW cars, will recall over 21,000 cars sold in South Korea for various problems related to engine timing belts and air bags, the transportation ministry said Friday. Some 11,600 cars of 19 vehicle models, including the 530d xDrive and the X6 [...]
SEOUL, Nov. 24 (Korea Bizwire) – Mr. Kim Man-se is the CEO of a small business in Seoul. He’s been undecided for some time now over which device to buy as his next smart companion. He had initially considered the Galaxy Note 7, but the idea was quickly scrapped following the phablet’s battery crisis. Kim [...]
BUSAN, Nov. 24 (Korea Bizwire) – The date when new environmental regulations mandated by the International Maritime Organization take effect is rapidly approaching. Starting January 1, 2020, all ships must use fuel with a maximum sulphur content of 0.5 percent, a 3-percent cut from the current cap of 3.5 percent. The IMO also made it [...]
SEOUL, Nov. 23 (Korea Bizwire) – Huawei is joining hands with Korean mobile carrier LG Uplus for the official introduction of its latest premium smartphone variants, the P9 and P9 Plus. The phones, for which prices have yet to be revealed, will hit the local market exclusively via LG Uplus on December 2, Huawei said [...]
SEOUL, Nov. 23 (Korea Bizwire) – Small-size home appliances are growing in popularity in South Korea amid the increasing number of single-member households, a local manufacturer said Wednesday. Dongbu Daewoo Electronics Co. said it has so far sold more than 2 million refrigerators, washers and other products targeting consumers living alone. The number of single-person [...]
SEOUL, Nov. 23 (Korea Bizwire) – The labor union at Hyundai Heavy Industries Co. on Wednesday threatened to launch a full-scale strike calling on the company to scrap its plan to spin off non-shipbuilding units, which it claims will lead to a sell-off. Last week, Hyundai Heavy, one of the country’s big three shipyards, announced [...]
SEOUL, Nov. 23 (Korea Bizwire) – Samsung Electronics Co., South Korea’s top tech firm, is set to take over QD Vision, a U.S. firm that specializes in quantum dot technology, in a deal aimed at boosting Samsung’s presence in the global premium TV market. “(We) decided to take over (QD Vision),” Chung Chil-hee, the head [...]
SEOUL, Nov. 23 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipyard, has faced another call from a customer to delay ship delivery, adding to difficulties for the shipbuilder, industry sources said Wednesday. According to the sources, U.S. drilling firm Atwood Oceanics has asked Daewoo Shipbuilding to delay the delivery [...]