Manufacturing Archives | Page 2 of 94 | Be Korea-savvy

Archive by category Manufacturing

Samsung Display Urges Ministry to Reconsider Opening Workplace Report

Samsung Display Urges Ministry to Reconsider Opening Workplace Report

SEOUL, April 11 (Korea Bizwire) – Samsung Display Co. said Wednesday it plans to ask the government to judge whether its workplace assessment report on its production line contains information that needs protection from disclosure. The move came after Samsung Electronics Co. also made a similar request following the government’s plan to disclose the tech giant’s workplace report, which may potentially include sensitive information on proprietary technology. The Ministry of Trade, Industry and Energy’s [...]

LG Chem to Invest 239.4 bln Won in Joint Ventures with Chinese Firm

LG Chem to Invest 239.4 bln Won in Joint Ventures with Chinese Firm

SEOUL, Apr. 11 (Korea Bizwire) — LG Chem Ltd., South Korea’s top chemicals company, said Wednesday that it has decided to invest 239.4 billion won (US$224.8 million) in two separate joint ventures with Huayou Cobalt Co., a Chinese supplier of the mineral. The deal underscored LG Chem’s efforts to secure a stable supply of cobalt, [...]

S. Korean Shipbuilders Beat Global Rivals in Orders in Q1

S. Korean Shipbuilders Beat Global Rivals in Orders in Q1

SEOUL, Apr. 6 (Korea Bizwire) — South Korean shipbuilders beat their global rivals in ship orders in the first quarter, according to data by Clarkson Research Services. In the January-March period, South Korean shipbuilders clinched orders equal to 2.63 million compensated gross tons (CGTs) to build 52 vessels. This accounted for 42.2 percent of ship [...]

Samsung’s Heir Apparent Plans to Make More Overseas Trips: Sources

Samsung’s Heir Apparent Plans to Make More Overseas Trips: Sources

SEOUL, April 4 (Korea Bizwire) – Samsung Electronics Co. Vice Chairman Lee Jae-yong, the heir apparent of the family-controlled conglomerate Samsung, plans to make more overseas business trips down the road to foster new growth engines for the company, industry sources said Wednesday. Lee’s plans to go abroad come as state prosecutors are looking into allegations that Samsung Group actively stamped out any moves to create labor unions among [...]

Daewoo Shipbuilding Wins Oil Carrier Order in North America

Daewoo Shipbuilding Wins Oil Carrier Order in North America

SEOUL, April 4 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a leading South Korean shipbuilder, said Wednesday it has clinched a deal to build two oil carriers for an unidentified company in North America. The shipbuilder said it is set to deliver the very large crude carriers to the shipping firm by the first quarter of 2020, without elaborating on the value [...]

Kumho Tire Brand, Management to Remain Intact After Acquisition

Kumho Tire Brand, Management to Remain Intact After Acquisition

SEOUL, April 3 (Korea Bizwire) – Kumho Tire Co., South Korea’s second-biggest tiremaker by sales, said Tuesday it will continue to use its brand name and its management will remain independent after being acquired by China’s Qingdao Doublestar Co. “Doublestar has pledged to allow an independent management team to run Kumho Tire as was the case of the acquisition of Volvo by China’s Geely Automobile Holdings in 2010,” Kumho Tire said in a statement.  “Back then, [...]

Semiconductor Exports Hit Record High in 2017: Data

Semiconductor Exports Hit Record High in 2017: Data

SEJONG, March 23 (Korea Bizwire) – Exports of semiconductors produced by South Korean firms reached a record high last year on soaring prices and firm demand, customs data showed on Friday. The outbound shipment of chips reached US$99.71 billion last year, sharply up 60.2 percent from the $62.23 billion tallied a year earlier, according to the data compiled by the Korea Customs Service. The 2017 [...]

Turning 50, POSCO Seeks to Diversify to Energy, Materials Businesses

Turning 50, POSCO Seeks to Diversify to Energy, Materials Businesses

SEOUL, Apr. 1 (Korea Bizwire) — POSCO said Sunday it will diversify its business portfolio to include infrastructure, biotechnology and new materials as South Korea’s No. 1 steelmaker marked the 50th anniversary of its foundation. Laying out its long-term vision, the company said it aims to increase its sales by twentyfold to 500 trillion won [...]

Moody’s: Planned Sale of Mobis Shares Positive for Hyundai Steel

Moody’s: Planned Sale of Mobis Shares Positive for Hyundai Steel

SEOUL, March 29 (Korea Bizwire) – Moody’s Investors Service said Thursday that Hyundai Steel Co.’s plan to sell its 5.7 percent stake in auto parts maker Hyundai Mobis Co. is credit positive for the steelmaker. But the planned stake sale will not have an immediate impact on Hyundai Steel’s Baa2 stable rating, the global ratings agency said in a statement. “The share sale if it goes ahead as planned will generate after-tax cash proceeds of [...]