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Drilling Machine Maker Robit Promises to Invest $10 Million in Gyeonggi

Drilling Machine Maker Robit Promises to Invest $10 Million in Gyeonggi

TAMPERE, Finland, Sept. 15 (Yonhap) – South Korea’s Gyeonggi Province said on Friday that Finnish drilling machine specialist Robit Plc. has agreed to invest US$10 million in a factory park in the province. Governor Nam Kyung-pil and Robit Chairman Harri Sjoholm signed a memorandum of understanding at the company’s headquarters in Tampere, under which the [...]

Nearly Half of SMEs That Focus on New Technology Face Difficulties from Regulations

Nearly Half of SMEs That Focus on New Technology Face Difficulties from Regulations

SUWON, Sept. 14 (Korea Bizwire) – A new survey has revealed that nearly half of small and medium-sized South Korean companies that focus on the new technologies such as smart health care and drones face difficulties due to ‘too many regulations,’ with the resulting economic damages estimated to reach 200 million won per company. The [...]

Chemical Firms to Invest 10 tln Won in Upgrading Industrial Complex

Chemical Firms to Invest 10 tln Won in Upgrading Industrial Complex

SEJONG, Sept. 14 (Korea Bizwire) — South Korea’s major chemical companies will join forces to invest 10 trillion won (US$8.84 billion) in upgrading an industrial complex on the west coast, the government said Thursday. Lotte Chemical Corp., S-Oil Corp. and Hanwha Total Petrochemical Co. signed a memorandum of understanding with the provincial government for the [...]

Semiconductor Exports to Exceed 90 Billion Dollars

Semiconductor Exports to Exceed 90 Billion Dollars

SEOUL, Sept. 13 (Korea Bizwire) — South Korea’s semiconductor exports are expected to exceed US$90 billion this year due to increased overseas chip demand and higher prices, an international traders organization said Wednesday. In the January-August period, outbound shipments of computer chips surged 52 percent on-year to $59.5 billion, the Korea International Trade Association (KITA) [...]

Canada Slaps Provisional Duties on S. Korean Steel Products

Canada Slaps Provisional Duties on S. Korean Steel Products

SEOUL, Sept. 13 (Korea Bizwire) — Canada’s border authorities said they have imposed up to 107.2 percent provisional duties on South Korean steel products in a preliminary ruling that could deal a blow to South Korean companies. The Canada Border Services Agency said on its website checked here Tuesday that it “made a preliminary determination” [...]

Trademark Theft by Chinese Companies a Costly Problem

Trademark Theft by Chinese Companies a Costly Problem

DAEJEON, Sept. 12 (Korea Bizwire) – The Korean Intellectual Property Office’s “Chinese Trademark Brokerages Early Warning Service” is providing a big boost to South Korean companies who have struggled from trademark theft. Since its inception last year, the Korean Intellectual Property Office (KIPO) has requested the State Intellectual Property Office (SIPO) of China to run [...]

Galaxy Note 8 Preorders Hit Nearly 400,000 on First Day

Galaxy Note 8 Preorders Hit Nearly 400,000 on First Day

SEOUL, Sept. 8 (Korea Bizwire) – Samsung Electronics Co. said Friday the combined preorders for its Galaxy Note 8 in South Korea reached nearly 400,000 units on the first day, far outpacing its predecessor. The South Korean tech giant said around 395,000 consumers applied to purchase the phablet Thursday. The figure eclipses numbers for the ill-fated Galaxy Note 7, [...]

Samsung Retains No. 1 Smartphone Maker Title as Huawei’s Makes Headway

Samsung Retains No. 1 Smartphone Maker Title as Huawei’s Makes Headway

SEOUL, Sept. 7 (Korea Bizwire) – Samsung Electronics Co. maintained its top global smartphone maker title in June and July, data showed Thursday, with China-based Huawei Technologies Inc. rising to No. 2 for the first time ever on a monthly basis. According to the data compiled by Counterpoint Research, Samsung Electronics accounted for more than [...]

GM Korea President Emphasizes Importance of Local Operations

GM Korea President Emphasizes Importance of Local Operations

SEOUL, Sept. 7 (Korea Bizwire) — GM Korea President Kaher Kazem addressed concerns regarding a possible pullout from South Korea at the company’s headquarters in the Bupyeong District of Incheon on September 6. As part of the face-to-face with the media, reporters were given access to the normally off-limits Design Center where they got a [...]