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 [...]
SEOUL, Aug. 7 (Korea Bizwire) — South Korea emerged as the world’s fifth-largest market for the German luxury auto brand Mercedes-Benz in the first half of the year thanks to its high popularity among local motorists, data showed Monday. Mercedes-Benz sold 37,723 vehicles in South Korea in the January-June period, up a whopping 54 percent [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Aug. 2 (Korea Bizwire) — More than 90 percent of small merchants plan to lay off workers because of the expected minimum wage increase next year that is disapproved by nearly all of them, a survey showed Wednesday. In the survey carried out by the Korea Federation of Micro Enterprise from July 21-28, 92.4 [...]
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 [...]
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 [...]
SEOUL, Jul. 31 (Korea Bizwire) — GS Retail Co., a major convenience store chain operator, said Monday it has signed an agreement with a Vietnamese company to make inroads into the Southeast Asian market. The Korean firm said it signed a deal with SonKim Group in Ho Chi Minh City on Thursday to set up [...]