SEOUL, Feb. 26 (Korea Bizwire) — HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE) said Monday it has received a 1.43 trillion-won (US$1.08 billion) liquefied natural gas (LNG) ship order from the Oceania region. Four LNG ships will be built at the shipyard of Hyundai Samho Heavy Industries Co. in Yeongam, 308 kilometers south [...]
SEOUL, Feb. 26 (Korea Bizwire) — POSCO International Corp., the trading unit of South Korea’s leading steelmaker POSCO, said Monday it will expand its overseas traction motor core production capacity to secure a new growth driver. In a recent board meeting, POSCO International decided to build the No. 2 traction motor core plant in Mexico [...]
SEOUL, Feb. 26 (Korea Bizwire) — SPC Group, a South Korean food and beverage company, said Monday its bakery brand Paris Baguette has opened its first outlet in Hawaii in its global expansion strategy. Paris Baguette has opened the Bishop Street outlet, the first in Hawaii and 160th in the United States, in Honolulu, the [...]
SEOUL, Feb. 26 (Korea Bizwire) – In a recent ruling, the Seoul Administrative Court dismissed the argument of an electronic cigarette liquid importer, Company A, that its product should not be classified as tobacco because it was extracted from the stem, not the leaves, of the tobacco plant. The importer had been importing e-cigarette liquid made [...]
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 [...]