SEOUL, Sept. 2 (Korea Bizwire) — Hyundai Heavy Industries(HHI), South Korea’s leading shipbuilder, may participate in a project to build fleet support ships for India’s Navy, further expanding its presence in Asia’s third-largest economy, industry sources said Wednesday. According to the sources, India’s Ministry of Defense is anticipated to place an order for five fleet [...]
SEOUL, Aug. 31 (Korea Bizwire) — Samsung Electronics said Monday it has agreed with the commerce ministry to provide smaller firms with more efficient production facilities in line with government efforts to promote shared growth between big businesses and them. Under the plan, the two will invest 15 billion won (US$12.6 million) each to share various [...]
SEOUL, Aug. 31 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering, South Korea’s No. 2 shipbuilder, is pushing for a massive restructuring drive next month, including the sale of assets worth up to 400 billion won (US$339.1 million), as it struggles to recover from huge losses, industry sources said Monday. Assets likely to be sold [...]
SEOUL, Aug. 28 (Korea Bizwire) — Samsung SDI Co., the battery-making arm of South Korea’s top conglomerate, Samsung Group, said Friday it will buy the cell material division of its chemical affiliate, in a move to bolster competitiveness in the sector. Samsung SDI will take over the cell material unit of Samsung Fine Chemicals Co. [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korean chemicals maker SKC Inc. and Germany-based chemical firm BASF are close to clinching a deal later this year to build a hydrogen peroxide plant in the southern industrial city of Ulsan, company officials said Thursday. SKC, a chemical unit under SK Group, has sought to use BASF’s [...]
SEOUL, Aug. 25 (Korea Bizwire) – Although the recent military standoff between the two Koreas has eased following lengthy dialogue, South Korea is still under intense military threat from the North. To counter the threats, the South Korean defense industry is developing futuristic wearable robot weapons systems. “Ironman” wearable robots, or exoskeleton robots with enhanced [...]
WASHINGTON, Aug. 20 (Korea Bizwire) — The U.S. trade watchdog has launched an anti-dumping investigation into allegations that South Korea and six other foreign countries sell hot-rolled steel flat products in the U.S. at unfairly low prices. The U.S. International Trade Commission posted a notice in the Federal Register saying it has instituted the investigation to [...]
SEOUL, Aug. 10 (Korea Bizwire) — South Korea’s major shipyards, led by Hyundai Heavy Industries, are expected to log record losses this year as they struggle with money-losing projects to build offshore facilities and a decline in new orders, industry sources said Monday. The country’s big three shipbuilders — Hyundai Heavy, Daewoo Shipbuilding & Marine [...]
CHANGWON, Aug. 7 (Korea Bizwire) – Education to train specialists in 3D printing is in high demand. Applicants of all genders and ages gathered at the ’2015 3D Printing Creative Makers Education Program’, which the Creative Economy Innovation Center of Gyeongnam Province opened on August 5. The applicants varied from ages 19 to 69, with various [...]
SEOUL, Aug. 7 (Korea Bizwire) – Samsung Display has announced plans to invest an additional 230 billion won to enlarge manufacturing facilities in Vietnam. According to officials from Bac Ninh in northern Vietnam, Samsung Display received the approval of the Vietnamese government to increase their scale of investment from $100 million (120 billion won) to $300 [...]