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Daewoo E&C Wins US$963 mln Plant Deal from Oman

Daewoo E&C Wins US$963 mln Plant Deal from Oman

SEOUL, Aug. 7 (Korea Bizwire) — Daewoo Engineering & Construction Co., a major South Korean builder, said Monday that it has clinched a US$963 million deal to build process units of refinery facilities in Oman. Under the deal with Duqm Refinery Petrochemical Industries Co., a joint venture between Daewoo Engineering and Tecnicas Reunidas of Spain [...]

SK E&C signs Deal to Modernize Iranian Oil Plant

SK E&C signs Deal to Modernize Iranian Oil Plant

SEOUL, Aug. 6 (Yonhap) — SK Engineering & Construction Co., a South Korean builder, said Sunday that it has signed a US$1.6 billion deal with an Iranian company to carry out an oil refinery modernization project. Under the agreement with Tabriz Oil Refining Co., an affiliate of Parsian Oil and Gas Development Group Co., the [...]

Lotte Units Suffer Earnings Setbacks on THAAD Fallout

Lotte Units Suffer Earnings Setbacks on THAAD Fallout

SEOUL, Aug. 3 (Korea Bizwire) — Subsidiaries of South Korean retail giant Lotte Group saw their earnings tumble in the second quarter, data showed Thursday, stung by China’s retaliation over Seoul’s decision to deploy an advanced U.S. missile defense system. In early March, Lotte agreed with the Seoul government to swap its golf course in [...]

Daewoo Shipbuilding Hands Over Submarine to Indonesian Navy

Daewoo Shipbuilding Hands Over Submarine to Indonesian Navy

SEOUL, Aug. 2 (Korea Bizwire) — Daewoo Shipbiulding & Marine Engineering Co., a major shipyard here, handed over a 1,400-ton diesel-electric submarine to the Indonesian Navy on Wednesday, becoming the first South Korean company to export a submarine. The company said it held a ceremony at its Okpo shipyard on Geoje Island off the southern [...]

SK hynix Most Profitable among Listed Firms in Q2

SK hynix Most Profitable among Listed Firms in Q2

SEOUL, Aug. 2 (Korea Bizwire) — Chip giant SK hynix Inc. posted the highest operating margin among large-gap companies in the second quarter of the year on its strong semiconductor business, data showed Wednesday. The consolidated operating margin of SK hynix, the crown jewel of South Korea’s No. 3 conglomerate SK Group, came to 45.6 [...]

Galaxy S8 Series Wins Environment Certificate in U.S.

Galaxy S8 Series Wins Environment Certificate in U.S.

SEOUL, Aug. 1 (Korea Bizwire) — Samsung Electronics Co. said Tuesday its Galaxy S8 and Galaxy S8 Plus smartphones won a top-level certificate from an environmental evaluation conducted in the United States. The South Korean tech giant said the smartphones won the Gold rating from the Electronic Product Environmental Assessment Tool (EPEAT), approved by the [...]

S. Korea to Provide Numerical Weather Prediction Expertise to China

S. Korea to Provide Numerical Weather Prediction Expertise to China

SEOUL, Jul. 31 (Korea Bizwire) — The Korea Meteorological Administration (KMA) said Monday that it will hand over its numerical weather prediction (NWP) technology that it developed for the 2018 PyeongChang Winter Olympics to China, the host of the 2022 Winter Games. “To that end, a Korea-China NWP model cooperation workshop will be held at [...]