SEOUL, Aug. 30 (Korea Bizwire) — The South Korean government provided more than 10,000 workers, including around 8,400 foreign workers, for local shipbuilders in the first half of 2023 in an effort to ease pandemic-related labor shortages, the industry ministry said Wednesday. A total of 10,104 South Korean and foreign workers were employed by shipbuilders [...]
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) — Retail sales in South Korea rose 5.9 percent on-year in July as more people enjoyed outdoor activities for summer vacation amid eased antivirus curbs, the industry ministry said Tuesday. The combined sales of 25 major offline and online retailers came to 14.73 trillion won (US$11.12 billion) last month, compared [...]
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. 28 (Korea Bizwire) – The Korea Meteorological Administration (KMA) has developed an array of specialized weather services to cater to diverse user needs. These encompass customized forecasts tailored for orchardists, predictions for solar power generation based on insolation, and weather insights for prominent tourist attractions. Among these segments, orchardists rely heavily on KMA [...]
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 [...]