SEOUL, July 7 (Korea Bizwire) — South Korean shipbuilders stayed far behind their Chinese rivals in new global orders to place second worldwide in June, industry data showed Friday. Local shipyards clinched a combined 380,000 compensated gross tons (CGTs) in new orders last month, accounting for 14 percent of the global total at 2.76 million [...]
SEOUL, July 7 (Korea Bizwire) — GS Engineering & Construction Co.’s decision to reconstruct the apartment complex, where an underground parking lot collapsed, is known to be driven by the determination of its top management, industry sources said Thursday. The company initially issued a written apology after the Ministry of Land, Infrastructure, and Transport briefed [...]
SEOUL, July 6 (Korea Bizwire) — During the past six years of Beijing’s pressure on Seoul regarding the latter’s hosting of a U.S. THAAD anti-missile system, South Korean conglomerates have witnessed shrinking sales at their Chinese subsidiaries, a corporate tracker said Wednesday. CEO Score analyzed sales reports of 113 Korean companies in China, which revealed [...]
SEOUL, July 6 (Korea Bizwire) — Hyundai Glovis Co. said Thursday it has signed a partnership with a Dutch nonprofit organization to work together to remove plastic waste from the oceans as part of its commitment to making a sustainable environment. Under the partnership signed with Ocean Cleanup, Hyundai Glovis will install cameras on its [...]
SEOUL, July 6 (Korea Bizwire) — Jinro, one of the most popular Korean soju brands, has been named this year’s Supreme Brand Champion by a British magazine, Jinro’s maker said Thursday. Jinro won the accolade in the annual report issued by The Spirits Business, according to HiteJinro Co. This is the first time Jinro has [...]
SEOUL, July 6 (Korea Bizwire) — Shares in GS Engineering & Construction Corp. tumbled nearly 20 percent Thursday morning, one day after the government blamed the major builder for the April collapse of an apartment parking lot. The land ministry announced Wednesday that GS Engineering & Construction’s poor management from design to quality control was [...]
SEOUL, July 6 (Korea Bizwire) — Overseas orders for industrial plants won by South Korean builders spiked more than 40 percent on-year in the first half of 2023 on brisk demand from the Middle East and Africa, data showed Thursday. Local builders clinched US$13.05 billion worth of plant orders from abroad in the January-June period, [...]
SEOUL, July 6 (Korea Bizwire) — HD Hyundai Heavy Industries Co., the world’s leading shipbuilder by orders, said Wednesday it has developed an eco-friendly heating, ventilation, and air conditioning (HVAC) system for ships using ammonia as a refrigerant. HD Hyundai Heavy has won an approval in principle (AIP) for the system from the American Bureau [...]
SEOUL, July 5 (Korea Bizwire) — McDonald’s Korea said Wednesday it will expand the number of its stores in South Korea to 500 by 2030 as it unveiled its new burger for this year. The South Korean unit of the U.S. fast-food giant will open eight new drive-thru stores this year, 10 more ordinary stores [...]
SEOUL, July 5 (Korea Bizwire) — As domestic TV home shopping channels continue to struggle with a declining number of viewers, efforts are underway to retain viewers for as long as possible. In April, GS Shop introduced a special 20-minute program called “Late Night Hot Deal” during its Saturday prime time show, featuring a range [...]