SEOUL, Sept. 3 (Korea Bizwire) — HD Hyundai Construction Equipment Co. said Sunday it has received orders to provide its products for Saudi Arabia’s Neom megacity project and Argentina’s lithium mine excavation plan. HD Hyundai Construction Equipment is the construction unit of South Korea’s shipbuilding-to-energy conglomerate HD Hyundai Group. In the Argentina deal, the company [...]
SEOUL, Sept. 1 (Korea Bizwire) — South Korea’s exports of instant noodles jumped 17.7 percent on-year in the first seven months of 2023 to reach the highest figure for the period ever amid the growing popularity of Korean culture, data showed Friday. The country exported US$522.03 million worth of instant noodles, or “ramyeon” in Korean, [...]
SEOUL, Aug. 31 (Korea Bizwire) — South Korean shipyard Samsung Heavy Industries Co. said Thursday it has won an approval in principle for a floating carbon dioxide storage unit (FCSU) from Norwegian accredited registrar and classification society DNV. The floating unit, developed jointly with Malaysia’s MISC Berhad, is 330 meters long and 64 meters wide, [...]
SEOUL, Aug. 30 (Korea Bizwire) — Chief executives at South Korea’s major companies have been actively purchasing their own company shares over the past year amid a sluggish stock market, a corporate tracker said Tuesday, highlighting their commitment to earning shareholder trust and enhancing responsible management. According to a survey conducted by Leaders Index of [...]
SEOUL, Aug. 29 (Korea Bizwire) — Hyundai Engineering & Construction Co. (Hyundai E&C), South Korea’s No. 2 builder, has placed 11th among global construction companies in terms of overseas sales, an industry report showed Tuesday. Hyundai E&C posted US$6.83 billion in overseas sales in 2022, up 18.6 percent from a year earlier and the 11th-largest [...]
SEOUL, Aug. 27 (Korea Bizwire) — The land ministry said Sunday it will push for a 10-month business suspension for GS Engineering & Construction Corp. over the collapse of a parking garage earlier this year. On April 29, the roof of an underground parking garage at an apartment complex collapsed while being built by the [...]
SEOUL, Aug. 25 (Korea Bizwire) — E-Mart24 Inc., one of South Korea’s major convenience store (CVS) chains, has signed an initial agreement with a South Korean real estate service company and a Cambodian food and beverage group to make inroads into the Cambodian market, company officials said Friday. E-Mart24 signed a memorandum of understanding (MOU) [...]
SEOUL, Aug. 24 (Korea Bizwire) — South Korean shipbuilders are bolstering their research and development (R&D) investments to secure a larger stake in upcoming markets, such as environmentally friendly vessels and autonomous ships. According to industry data, the three leading shipyards of the country invested 125.6 billion won (US$94.6 million) in R&D during the first [...]
SEOUL, Aug. 23 (Korea Bizwire) — South Korean bakery brand Tous les Jours has opened its 100th store in the United States, its operator said Wednesday, adding it aims to open up to 1,000 stores in the U.S. by 2030. Tous les Jours has opened its 100th shop in Bronxville, New York, according to CJ [...]
SEOUL, Aug. 23 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Wednesday it will raise 2 trillion won (US$1.5 billion) via a rights offering to secure funds for facility investments and other purposes. Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering Co. (DSME), will issue some 89.48 million common shares at a [...]