SEOUL, May 3 (Korea Bizwire) — South Korean shipyard Samsung Heavy Industries Co. has successfully developed a new floating liquefied natural gas (FLNG) facility model with shorter delivery times. The company announced on Tuesday it obtained a certification for its FLNG facility model from DNV, a Norwegian ship quality assurance and risk management company, at [...]
SEOUL, May 1 (Korea Bizwire) — South Korean startups are carrying out intensive restructuring amid lingering concerns over the state of financial markets ignited by the collapse of the United States-based Silicon Valley Bank (SVB). Zigbang, the country’s top home-matching platform, began conducting individual interviews regarding annual evaluation results starting this month and pushed many [...]
SEOUL, April 30 (Korea Bizwire) — Hyundai Motor Group Executive Chair Euisun Chung will hold a lunch meeting with young applicants in a project modeled after “Warren Buffett lunch” to connect better with younger generations, a South Korean business lobby said Sunday. The Federation of Korean Industries (FKI) planned the “God-saeng One meal” project as [...]
SEOUL, April 28 (Korea Bizwire) — Major South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Friday it will expand its research and development (R&D) spending in Europe to secure future shipbuilding and maritime technologies. To that end, HD Korea Shipbuilding will spend 15 million euros (US$16.5 million) on its European research institute [...]
SEOUL, April 28 (Korea Bizwire) — The U.S. subsidiaries of South Korea’s major firms reported mixed results in 2022, a corporate tracker said Thursday. The nation’s four major enterprises — Samsung Electronics, SK hynix, Hyundai Motor, and LG Electronics — saw their four major American subsidiaries, in which they have a more than 50 percent [...]
SEOUL, April 27 (Korea Bizwire) — South Korean steel giant POSCO Holdings Inc. said Thursday its first-quarter earnings tumbled nearly 58 percent from a year earlier due to sluggish sales. Consolidated net profit came to 800 billion won (US$597.9 million) in the January-March period, down 57.9 percent from a year earlier, the company said in [...]
SEOUL, April 27 (Korea Bizwire) — The South Korean antitrust regulator’s conditional approval of the plan to take over Daewoo Shipbuilding & Marine Engineering Co. (DSME) removes the last hurdle for Hanwha Group’s push to become a global leader in the defense and energy sector. But it also leaves Hanwha, the seventh-largest conglomerate in the [...]
SEOUL, April 27 (Korea Bizwire) — Bhc Group said Thursday it has opened its first bhc chicken store in Singapore as part of its efforts to break into the Southeast Asian market. The store opened at a shopping complex in Marina Square located on Marina Bay, a popular tourist spot, on Wednesday. The store plans [...]
SEOUL, April 26 (Korea Bizwire) — Major South Korean firms’ spending on research and development (R&D) swelled 14 percent in 2022 from a year earlier despite sharply decreased operating income amid an economic slowdown, a market tracker said Wednesday. Combined R&D expenditures by 231 out of the country’s top 500 companies came to 68.4 trillion [...]
SEOUL, April 24 (Korea Bizwire) – South Korea’s whisky imports shot up nearly 80 percent in the first quarter of this year on the liquor’s surging popularity among young Koreans amid the coronavirus pandemic, data showed Monday. The volume of imported whisky came to 8,443 tons in the January-March period, up 78.2 percent from a [...]