SEOUL, May 29 (Korea Bizwire) — In the area of methanol-powered ships, which have emerged as a game changer in the shipbuilding industry, competition is heating up between South Korea and China. HD Hyundai Heavy Industries Co. held a keel-laying ceremony last week to place the first block of a methanol dual fuel container ship [...]
SEOUL, May 26 (Korea Bizwire) — Major electronics companies in South Korea are grappling with weak financial performance and rising labor costs, while automakers have experienced a relative decline in labor costs, a market research firm said Thursday. The Korea CXO Institute conducted an analysis of labor cost changes at major conglomerates between 2018 and [...]
SEOUL, May 26 (Korea Bizwire) — The retailer has formed a partnership with South Korea’s largest Buddhist sect to introduce a unique dumpling product inspired by those traditionally served in temples. CJ Cheiljedang announced on Friday their launch of “Temple-style Wanggyoja,” a collaborative creation with Doban HC, the business holding company of the Jogye Order [...]
SEOUL, May 25 (Korea Bizwire) — After an on-site inspection of Fukushima’s contaminated water conducted by a team that excluded civilian experts, concerns have arisen regarding Japan’s push to resume seafood imports from Fukushima. The verification of the contaminated water is nearly impossible, making it highly likely that Japan’s next move will involve lifting the [...]
SEOUL, May 25 (Korea Bizwire) — South Korea’s top steelmaker POSCO Holdings Inc. said Thursday it has dedicated a “giga steel” processing plant in eastern China in a bid to meet future demand for the steel product. The plant, located at its Chinese processing center in Suzhou in Jiangsu province, is aimed at preempting the [...]
SEOUL, May 25 (Korea Bizwire) — Major South Korean cable maker Taihan Cable & Solution Co. said Thursday it has won a US$65 million contract in Kuwait. The deal calls for Taihan Cable & Solution to install 330-kilovolt underground cables connecting substations in Kuwait City in order to meet growing electricity demand in the Kuwaiti [...]
SEOUL, May 23 (Korea Bizwire) — Major South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. (DSME) was rebranded as Hanwha Ocean Co. on Tuesday, opening a new era as a unit of Hanwha Group, the seventh-largest conglomerate in the country. The embattled shipyard also appointed Kwon Hyuk-woong, president of Hanwha’s support division, as its [...]
SEOUL, May 23 (Korea Bizwire) — The rivalry between Yonsei University and Korea University has extended to the shelves of CU outlets, with a new competition arising after the convenience store chain started selling baked goods featuring the names and logos of these universities. The rivalry between these two colleges, founded over 100 years ago, [...]
SEOUL, May 19 (Korea Bizwire) — Galleria Department Store announced on Thursday that it would open a unique popup store in its luxury hall, focusing on the concept of ‘tech’. Organized by Xorbis, a developer of digital exhibition and media technology, the popup store will offer visitors the opportunity to experience the Sketcher X robot, [...]
JEJU, May 18 (Korea Bizwire) — Jeju Island has achieved the top rank in kiwi production in South Korea. Last year, Jeju had 335 hectares of kiwi cultivation, producing 8,711 tons of kiwis. Although the cultivation area is second to Jeollanam-do, Jeju’s production exceeded it. Jeju’s kiwi production accounted for 43.8% of the national total. [...]