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Samsung C&T to Construct Modular Homes in Saudi Arabia

Samsung C&T to Construct Modular Homes in Saudi Arabia

SEOUL, Jan. 26 (Korea Bizwire) — South Korean builder Samsung C&T Corp. will build modular homes in Saudi Arabia, the land and transport ministry said Wednesday. Land Minister Won Hee-ryong on Tuesday held a meeting with Yasir bin Al-Rumayyan, Governor of the Public Investment Fund (PIF), in Saudi Arabia with both parties signing a memorandum [...]

Exports of S. Korea’s Traditional Liquor Soju Up 13.2 pct in 2022

Exports of S. Korea’s Traditional Liquor Soju Up 13.2 pct in 2022

SEOUL, Jan. 24 (Korea Bizwire) — Exports of soju, South Korea’s traditional distilled liquor, increased 13.2 percent in 2022 from a year earlier, data showed Tuesday, rebounding for the first time in three years. Outbound shipments of soju reached US$93.3 million in 2022, rising sharply from $82.4 million tallied a year earlier, according to the [...]

POSCO Holdings 2022 Operating Income Nearly Halves on Typhoon Damage, Downturn

POSCO Holdings 2022 Operating Income Nearly Halves on Typhoon Damage, Downturn

SEOUL, Jan. 20 (Korea Bizwire) — POSCO Holdings Inc. on Friday said its operating income nearly halved last year from a year earlier largely due to a typhoon in September and an industry downturn. Its operating income stood at 4.9 trillion won (US$3.96 billion) last year, sharply down from an operating income of 9.2 trillion [...]

Number of Broiler Chickens Raised in S. Korea Down 5.2 pct in Q4

Number of Broiler Chickens Raised in S. Korea Down 5.2 pct in Q4

SEOUL, Jan. 20 (Korea Bizwire) — The number of broiler chickens raised in South Korea fell 5.2 percent on-year in the fourth quarter from a year earlier, data showed Friday, amid concerns over the spread of avian influenza. South Korean farms raised 88.71 million broilers in the fourth quarter of 2022, down 4.89 million from [...]

SK Chief Meets Leaders of Serbia, Montenegro at Davos Forum

SK Chief Meets Leaders of Serbia, Montenegro at Davos Forum

SEOUL, Jan. 20 (Korea Bizwire) — The chief of energy-to-telecom conglomerate SK Group has met with the leaders of Serbia and Montenegro in Switzerland, and discussed ways to reinforce cooperation in such areas as global supply chains, South Korea’s third-largest conglomerate said Friday. During the meeting with Serbian President Aleksandar Vucic on the margins of [...]

POSCO’s Typhoon-hit Facilities Fully Restored, Production Normalized

POSCO’s Typhoon-hit Facilities Fully Restored, Production Normalized

SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, has fully restored its facilities damaged by a September typhoon and its production was put back on track, the steelmaker said Friday. The superstrong Typhoon Hinnamnor pounded POSCO’s steel mill in Pohang, 372 kilometers southeast of Seoul, leading to the suspension of its major [...]

Samsung C&T Makes Employee ID Card Cases from Recycled Safety Helmets

Samsung C&T Makes Employee ID Card Cases from Recycled Safety Helmets

SEOUL, Jan. 19 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it had made new employee ID card cases by recycling waste helmets from its construction sites. The company said that it was the first among domestic companies to make employee ID card cases using waste generated during business [...]

Lotte Confectionery to Invest 70 bln Won in New Ice Cream Factory in India

Lotte Confectionery to Invest 70 bln Won in New Ice Cream Factory in India

SEOUL, Jan. 18 (Korea Bizwire) — Lotte Confectionery Co. said Wednesday it will invest 70 billion won (US$56.6 million) in its ice cream making affiliate in India, Havmor Ice Cream Ltd., over the next five years as the confectionery maker tries to strengthen its rapidly growing India business. Lotte Confectionery will build a new 60,000-square-meter [...]

S. Korea Importing Jersey Cow Embryos

S. Korea Importing Jersey Cow Embryos

SEOUL, Jan. 18 (Korea Bizwire) — The agriculture ministry said Tuesday it will introduce the embryos of Jersey cows to boost the production of dairy products using domestically produced milk. Jersey cows, which are nicknamed “brown milk cows,” produce small amounts of milk but with high protein and fat content, offering advantages in the production [...]