SEOUL, Oct. 15 (Korea Bizwire) — Lotte Chemical Corp., the petrochemical unit of South Korea’s No. 5 conglomerate Lotte Group, said Thursday it has completed the construction of a gas chemical complex in Uzbekistan, a major overseas project it has pursued as part of an effort to diversify profit sources. The joint development project, dubbed [...]
SEOUL, Oct. 14 (Korea Bizwire) — German industrial giant Siemens AG said Wednesday it hopes to seek opportunities from South Korea’s latest industry strategy and that it is ready to bring digitalization to Asia’s fourth-largest economy. “Technological leadership has driven Korea’s and Germany’s economic success in the past,” Siemens CEO Joe Kaeser said in a [...]
SEOUL, Oct. 13 (Korea Bizwire) — South Korea’s tech titan Samsung Electronics Co. posted a record share of the global dynamic random access memory (DRAM) market in the second quarter, data showed Tuesday, reflecting the rising presence of chips in its business portfolio. Samsung’s share of the global DRAM market came to 45.2 percent of [...]
SEOUL, Oct. 6 (Korea Bizwire) — Samsung Electronics Co. and SK hynix Inc., two major South Korean memory chip makers, have clinched no overseas takeover deals for the semiconductor business this year, industry data showed Tuesday, in contract to their global peers who’ve been strongly engaged in the merger and acquisition (M&A) activities. Samsung Electronics [...]
SEOUL, Oct. 1 (Korea Bizwire) – The after effects of Daewoo Shipbuilding & Marine Engineering Co.’s financial troubles are continuing. After a three trillion won loss in the second quarter was reflected in the company’s books, its shares plummeted. But as DSME’s third quarter performance is also expected to be troubling, financial analysts are lowering [...]
SEOUL, Sept. 30 (Korea Bizwire) – A group of 119 minority shareholders filed a class action suit against Daewoo Shipbuilding & Marine Engineering Co. (DSME) on Wednesday, demanding 4.1 billion won (US$3.47 million) in compensation for losses from an investment made based on the company’s doctored financial statement. The plaintiff filed the suit with the [...]
SEOUL, Sept. 30 (Korea Bizwire) — Volkswagen’s diesel emission scandal is showing no signs of a letup, even whacking other automakers, but there is one bright point: electric vehicle (EV) battery makers. South Korean EV battery makers led by LG Chem Ltd. are poised to benefit from the diesel emission fiasco as demand for vehicles [...]
SEOUL, Sept. 23 (Korea Bizwire) – State-of-the-art street light products developed by a Korean manufacturer are attracting the eyes of Americans, and are quietly generating export interest. Design Pole, a street light brand from Onegiup, recently won the “Best Booth” award at an exhibition organized by the American Public Works Association in Phoenix, Arizona, which was [...]
BEIJING, Sept. 16 (Korea Bizwire) — LG Display Co., a South Korean maker of flat panels used in televisions and other products, said Wednesday that it will forge cooperation with Chinese TV makers to expand sales of larger organic light-emitting diode (OLED) display panels. Eddie Yeo, president of LG Display’s OLED business division, made the [...]
SEOUL, Sept. 9 (Korea Bizwire) — South Korea’s No. 3 mobile carrier, LG Uplus Corp., said Wednesday it would work together with U.S. tech giant Qualcomm Inc. to support local startups, especially for those with business projects related to the Internet of Things (IoT) industry. Under the move, LG Uplus and Qualcomm will chip in [...]