SEOUL, July 17 (Korea Bizwire) — South Korean shipbuilder Samsung Heavy Industries Co. said Monday it has bagged a 3.96 trillion-won (US$3.1 billion) order to build 16 container ships for an Asian shipper. The 16,000 twenty-foot equivalent unit (TEU) vessels powered by methanol will be delivered to the undisclosed shipping company in stages by December [...]
SEOUL, July 13 (Korea Bizwire) — South Korea’s top instant noodle maker, Nongshim Co., said Thursday it aims to triple its sales in the United States by 2030 to top the U.S. instant noodle market. “Nongshim will boost annual sales to US$1.5 billion, threefold of the current level, by 2030 and top the U.S. ramyeon [...]
SEOUL, July 13 (Korea Bizwire) — South Korea’s steelmaking giant POSCO Holdings Inc. said Thursday it is aiming to achieve combined sales of 100 trillion won (US$78.4 billion) by boosting the competitiveness of its core steel business and focusing on future growth sectors. Unveiling its long-term growth vision at its headquarters in the southeastern port [...]
SEOUL, July 13 (Korea Bizwire) — South Korea’s retail industry is on alert with anticipation of the World Health Organization (WHO) designating aspartame as a carcinogen. Discount retailer Emart Inc. plans to replace the current artificial sweetener used in its five varieties of No Brand zero-calorie cola and sparkling ade, as well as its six [...]
SEOUL, July 13 (Korea Bizwire) — Lotte Duty Free, the travel retailer of Hotel Lotte Co., said Thursday it has opened a duty-free shop at Australia’s Melbourne Airport and aims to boost annual sales to 300 billion won (US$235.4 million). In January, Lotte Duty Free won a concession to operate at a spot at Melbourne [...]
SEOUL, July 13 (Korea Bizwire) — Construction machinery manufacturer HD Hyundai Infracore Co. said Wednesday it has developed a mobile app utilizing augmented reality (AR) technology to assist in the diagnosis and repair of construction machines and equipment. The AR Guidance app integrates AR technology with 3D modeling data and data collected from component sensors [...]
SEOUL, July 13 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it has made an equity investment of US$7.5 million in CarbonCure, a Canadian carbon dioxide removal tech company. Along with the investment, the two companies have also signed a business agreement. Founded in 2012, CarbonCure has developed a [...]
SEOUL, July 12 (Korea Bizwire) — South Korean shipbuilder Hanwha Ocean Co. said Wednesday it has succeeded in developing three key devices of a submarine sonar system. They include a sonic depth finder, a sonar beacon and an underwater environment measuring apparatus, which could help boost the operational capability and viability of a submarine, Hanwha [...]
SEOUL, July 11 (Korea Bizwire) — Hyundai Home Shopping Network Corp. said Monday it will be releasing the second episode of its entertainment-style “deal commerce” program, hosted by actor Kwon Hyuk-soo, on its official YouTube channel. The concept of deal commerce was introduced in April as the industry’s first program based on the idea of [...]
SEOUL, July 10 (Korea Bizwire) — South Korea’s major department stores are turning to the food business as part of efforts to defend against deteriorating performance resulting from an economic slump and contraction in consumption. Shinsegae Department Store has launched a complete renovation of the food court in its Gangnam outlet for the first time [...]