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S. Korea’s Factory Utilization Rate Falls to Lowest Level Since Asian Financial Crisis

S. Korea’s Factory Utilization Rate Falls to Lowest Level Since Asian Financial Crisis

SEOUL, Nov. 11 (Korea Bizwire) — South Korea’s factory utilization rate has fallen to the lowest level since the Asian financial crisis fueling concerns that the economy is showing signs of slowing down, observers said Sunday. Data by Statistics Korea showed the average capacity utilization ratio of factories standing at 72.8 percent in the January-September [...]

SK Telecom Develops Combined Heat and Power System for Hyundai Factory

SK Telecom Develops Combined Heat and Power System for Hyundai Factory

SEOUL, Jul. 13 (Korea Bizwire) — SK Telecom revealed yesterday that it had developed two systems for Hyundai Motor’s Ulsan factory, allowing the facility to be more efficient with its energy consumption. One is a combined heat and power system and the other, a factor energy management solution. The combined heat and power system will [...]

Samsung Group Eyes Jump in Vietnam Sales

Samsung Group Eyes Jump in Vietnam Sales

HANOI, May 18 (Korea Bizwire) – South Korea’s top conglomerate Samsung Group expects sales of Samsung Electronics Co. and three other units in Vietnam to spike more than 30 percent on-year in 2017 on its strong smartphone business, sources said Wednesday.  Samsung Electronics, Samsung Display Co., Samsung Electro-Mechanics Co. and Samsung SDI Co. are targeting [...]

Samsung Electronics Considers Building New Plant in U.S.: Executive

Samsung Electronics Considers Building New Plant in U.S.: Executive

SEOUL, March 9 (Korea Bizwire) – Samsung Electronics Co. has been considering building a new plant in the United States in line with its “mid to long-term base strategy,” a senior executive said Thursday.  Seo Byung-sam, vice president of Samsung’s home appliance unit, made the remarks at a meeting with reporters in Seoul, after the [...]

Hyundai Motor Says “May Consider” Expanding U.S. Factory, but Only If Necessary

Hyundai Motor Says “May Consider” Expanding U.S. Factory, but Only If Necessary

SEOUL, Jan. 17 (Korea Bizwire) – South Korea’s largest automaker Hyundai Motor Group may consider building additional production facilities in the United States, but only when or if a future rise in demand there requires it to do so, group officials said Tuesday.  The remarks came after foreign news outlets, citing Hyundai Motor Group President [...]

Wages for Hyundai’s U.S. Employees Trail Korean Counterparts

Wages for Hyundai’s U.S. Employees Trail Korean Counterparts

SEOUL, Nov. 8 (Korea Bizwire) – The domestic wage deal between Hyundai Motor Company and its labor union has been settled for the time being, but the burden of personnel expenses continue to stranglehold the automaker, even in its overseas operations.  According to Hyundai and U.S. media reports, production workers at Hyundai Motor Manufacturing Alabama [...]

Quake Triggers Safety Concerns, Halting Production Facilities

Quake Triggers Safety Concerns, Halting Production Facilities

SEOUL, Sept. 13 (Korea Bizwire) – A number of South Korean businesses were forced to halt their production and assembly lines for safety inspections Tuesday, one day after a powerful quake rocked the country.  Nearly a dozen major industrial facilities, including a power plant, had their operations halted after a 5.8-magnitude earthquake jolted the nation, [...]