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Hyundai Heavy Fined 970 mln Won for Unfair Trade

Hyundai Heavy Fined 970 mln Won for Unfair Trade

SEOUL, July 26 (Korea Bizwire) — South Korea’s largest shipbuilder, Hyundai Heavy Industries Co., was fined 970 million won (US$805,000) for unfair trade with its subcontractors, the country’s antitrust watchdog said Sunday. The fine levied on Hyundai Heavy is the biggest-ever for acts of misusing technologies from other companies. Hyundai Heavy has stolen technologies used [...]

Hyundai Heavy Announces Autonomous Sailing Technology

Hyundai Heavy Announces Autonomous Sailing Technology

SEOUL, April 10 (Korea Bizwire) — South Korea’s top shipyard Hyundai Heavy Industries Group announced Thursday that it has successfully applied core technology for autonomous sailing to a large-sized vessel. The group installed Hyundai Intelligent Navigation Assistant System (HiNAS), a cutting-edge navigation aid system, on a 25-ton bulk carrier owned by local shipper SK Shipping [...]

KT, Hyundai Heavy Join Hands for 5G-based Smart Factory

KT, Hyundai Heavy Join Hands for 5G-based Smart Factory

SEOUL, Nov. 7 (Korea Bizwire) — Major telecom operator KT Corp. and leading shipbuilding conglomerate Hyundai Heavy Industries Group said Thursday they will step up collaboration to develop advanced smart factory solutions based on the 5G network to improve efficiency and safety. In May, the two companies signed a memorandum of understanding to join forces [...]

Hyundai Heavy Shareholders OK Split-up Plan amid Harsh Labor Opposition

Hyundai Heavy Shareholders OK Split-up Plan amid Harsh Labor Opposition

SEOUL/ULSAN, May 31 (Korea Bizwire) — Shareholders of Hyundai Heavy Industries Co. on Friday approved the company’s split-up plan ahead of a proposed merger with a smaller local shipbuilder amid fierce opposition from its labor union. The split is the first step in the process of Hyundai Heavy’s planned merger with Daewoo Shipbuilding & Marine [...]

Hyundai Heavy’s Merger Faces Critical Juncture Next Week amid Backlash

Hyundai Heavy’s Merger Faces Critical Juncture Next Week amid Backlash

SEOUL, May 26 (Korea Bizwire) — Tensions are mounting ahead of Hyundai Heavy Industries Co.’s planned shareholders meeting next week as unionized workers remain staunch in their opposition to the company’s split-up plan for a merger with a small local shipbuilder, industry sources said Sunday. Hyundai Heavy shareholders are set to approve splitting of the [...]