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Merger Between Hyundai Heavy Industries and Daewoo Shipbuilding to Generate Synergy

Merger Between Hyundai Heavy Industries and Daewoo Shipbuilding to Generate Synergy

SEOUL, Feb. 1 (Korea Bizwire) — It is expected that a merger between Hyundai Heavy Industries Co. and Daewoo Shipbuilding & Marine Engineering Co. will create massive synergy not only in the South Korean shipbuilding industry, but also in maritime defense. Both companies are listed as major manufacturers of naval vessels and submarines, in charge [...]

South Korean Defense Industry Falls Short in Creating Job Opportunities

South Korean Defense Industry Falls Short in Creating Job Opportunities

SEOUL, Sept. 26 (Korea Bizwire) – The South Korean defense industry has been found to contribute little to creating job opportunities despite accounting for 10 percent of government spending, a new report has claimed. According to the new report by the Korea Institute for Industrial Economics & Trade released on Sunday, despite receiving 10 percent of [...]

Policy Planning Panel to Explore Ways to Stamp Out Corruption in Defense Industry

Policy Planning Panel to Explore Ways to Stamp Out Corruption in Defense Industry

SEOUL, May 24 (Korea Bizwire) — The chief of the presidential policy planning advisory panel said Tuesday that it would explore ways to stamp out deep-seated corruption in the defense industry, long blamed for eroding the country’s military capabilities. During a regular press briefing, Kim Jin-pyo also said the panel would seek a “comprehensive” approach [...]

South Korea Hosts its Largest Military Expo for Ground Forces

South Korea Hosts its Largest Military Expo for Ground Forces

GOYANG, South Korea, Sept. 8 (Korea Bizwire) – South Korea is hosting its largest defense expo for ground forces at Goyang’s KINTEX (Korea International Exhibition & Convention Center). Dubbed Defense Expo Korea 2016, this is the second exhibit of its kind after the inaugural event in 2014, and will be attended by some 400 defense [...]

DSME Will Provide Business Consulting to World’s No. 3 Defense Firm in Britain

DSME Will Provide Business Consulting to World’s No. 3 Defense Firm in Britain

SEOUL, July 31 (Korea Bizwire) — Daewoo Shipbuilding & Marine Engineering announced that it has signed a contract to provide complete diagnosis and consulting service for enhancing efficiency in shipyard operations, with BAE Systems Surface Ships Ltd. of Britain. The main purpose of this agreement is to conduct diagnosis on BAE’s shipbuilding business and dockyard operation system [...]