SEOUL, Jan.7 (Korea Bizwire) – Chinese electronics, which have often been thought of as cheap in price, but also in quality, have moved into the spotlight. Sales of Chinese smartphones and small smart devices are on a rapid rise due to reasonable prices and decent performance. Two Chinese manufacturers, Xiaomi and Huawei, are leading the [...]
SEOUL, Jan. 7 (Korea Bizwire) - South Korea’s sole aircraft manufacturer Korea Aerospace Industries Ltd. (KAI) said Thursday that it has signed a formal deal to jointly develop its next-generation fighter plane with Indonesia. The cost sharing agreement reached in Jakarta between KAI and Indonesia’s defense ministry calls for Jakarta to foot 20 percent of the [...]
SEOUL, Dec. 24 (Korea Bizwire) – This year has been a busy period for the top family-controlled conglomerate in South Korea, the Samsung Group, especially due to its struggle to pave the way for the coronation of a new generation. The head of the Samsung Group was hospitalized in early 2014. With the absence of [...]
DAEGU, Dec.23 (Korea Bizwire) – Officials from Gyeongbuk Province have announced the establishment of new research facility called the 3D Printing Manufacturing Innovation Hub Center in Geumo Techno Valley, Gumi, which is expected to start operations in February 2016. The local government built a four-storey building within the Geumo Techno Valley area after attracting support [...]
SEOUL, Dec. 8 (Korea Bizwire) – STX Offshore & Shipbuilding Co., a midsize local shipyard, is likely to receive financial aid of 450 billion won (US$385 million) from its creditors soon, industry sources said Tuesday. According to the sources, the creditors, led by the state-run Korea Development Bank (KDB), will decide this week on whether [...]
SEOUL, Dec.2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering announced that it has sold all of its helicopters. The company is cleaning up its non-core assets to normalize management. Daewoo Shipbuilding & Marine Engineering owned two Sikorsky helicopters that can each seat 14 people, and used them to transport key figures and guests. However, [...]
SEOUL, Dec. 2 (Korea Bizwire) - South Korea’s trade surplus in the ICT segment outpaced those of members of the Organization for Economic Cooperation and Development (OECD) in the first half, data showed Wednesday, posting robust performances despite the global economic slump. According to the data compiled by the Institute for Information & Communications Technology Promotion, [...]
SEOUL, Dec. 1 (Korea Bizwire) – After 15 months of struggle for normalization, South Korea’s No. 3 smartphone maker Pantech Co. officially set sail on Tuesday, with a vision to focus on budget smartphones, especially in the Asian market. The move came more than a month after a Seoul court gave approval to a local [...]
SEOUL, Dec. 1 (Koria Bizwire) - Hyundai Motor Group Chairman Chung Mong-koo will meet with heads of overseas sales units in mid-December to discuss sales tactics and future business plans in global markets, industry sources said Tuesday. During the meeting to be held at its headquarters in Seoul, around 60 heads of sales units of Hyundai [...]
SEOUL, Nov. 27 (Korea Bizwire) - South Korean panel maker LG Display Co. said Friday it plans to invest 1.8 trillion won (US$1.56 billion) in a facility to tap deeper into the organic light-emitting diode (OLED) segment. Under the plan, the South Korean panel maker will build a new factory in Paju, north of Seoul, which [...]