SEOUL, Feb. 23 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Friday it has won a 342 billion-won (US$256 million) order for two very large crude carriers (VLCCs) from an Oceanian shipper. The VLCCs will be built at Hanwha Ocean’s shipyard in Geoje on the south coast and delivered to the undisclosed [...]
SEOUL, Feb. 23 (Korea Bizwire) – Starting as early as May, significant portions of greenbelt areas designated for strategic local projects are set to be deregulated. This unprecedented move will allow for unlimited greenbelt releases, and even high-conservation-value lands will see eased restrictions to attract investments. While the government justifies this initiative as a boost for [...]
SEOUL, Feb. 22 (Korea Bizwire) – Semiconductor firms worldwide are engaged in fierce competition to secure a leading position in cutting-edge foundry process technology, particularly driven by the surging demand in the artificial intelligence (AI) chip market. Companies are forming strategic alliances with strong partners to enhance their competitiveness in this rapidly growing sector. Samsung Electronics [...]
SEOUL, Feb. 22 (Korea Bizwire) — South Korean ship service provider HD Hyundai Marine Solution Co. said Thursday it has won an order for renovating liquefied natural gas (LNG) carriers from global energy giant Chevron. The deal calls for installing environmentally friendly re-liquefaction systems on the two LNG vessels operated by Chevron, HD Hyundai Marine [...]
SEOUL, Feb. 22 (Korea Bizwire) — South Korean shipyard HD Korea Shipbuilding & Offshore Engineering Co. said Thursday it has clinched a 172.4 billion-won (US$129 million) order to build two liquefied petroleum gas (LPG) carriers for a shipper based in Asia. Hyundai Mipo Dockyard Co., one of HD Korea Shipbuilding’s three shipbuilding units, will construct [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korea’s producer prices rose for the second consecutive month in January, driven in part by soaring prices in agricultural goods and service fees, central bank data showed Wednesday. The producer price index, a major barometer of consumer inflation, increased 0.5 percent in January from a month earlier, following [...]
SEOUL, Feb. 21 (Korea Bizwire) — Samsung Electronics Co., the world’s largest memory chipmaker, said Wednesday it will expand its partnership with the British chip design firm Arm to bolster the competitiveness of its foundry business. As part of the collaboration, the South Korean chipmaker’s foundry division will work with Arm to optimize the design [...]
SEOUL, Feb. 21 (Korea Bizwire) — South Korean shipbuilding giant HD Hyundai Heavy Industries Co. said Wednesday it will cooperate with British defense titan Babcock to jointly develop a submarine for exports. To that end, officials of both companies recently held a meeting at HD Hyundai Heavy’s research and development center in Seongnam, south of [...]
SEOUL, Feb. 20 (Korea Bizwire) – Chinese online shopping platform Temu came under fire for its aggressive marketing tactics to lure customers in South Korea, industry sources said Tuesday. The direct purchase app, run by Chinese company PDD Holdings, has emerged as one of the popular shopping destinations for budget-conscious Korean consumers by giving away [...]
SEOUL, Feb. 20 (Korea Bizwire) – Samsung and LG are poised to introduce their all-in-one washer-dryer units to the South Korean market, sparking interest among consumers looking for innovative solutions in the home appliance sector. This new product category, which eliminates the need to transfer laundry from a washing machine to a dryer, is expected to [...]