SEOUL, June 16 (Korea Bizwire) — KT Corp., a major South Korean telecommunications firm, on Tuesday said it will acquire a 10 percent stake in a robotics unit of shipbuilding giant Hyundai Heavy Industries Group to enhance its competitiveness in smart factory and robot solutions. KT said it will acquire the stake in Hyundai Robotics [...]
SEOUL, June 10 (Korea Bizwire) — Hyundai Heavy Industries Co., a major shipyard, will enhance its presence in the warship market as part of efforts to boost sales, its parent, Korea Shipbuilding & Offshore Engineering Co., said Wednesday. The company said a 26,000-ton warship, named Aotearoa, built by the shipbuilder left Ulsan, southeast 414 kilometers [...]
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 [...]
SEOUL, Dec. 21 (Korea Bizwire) — Korea Shipbuilding & Offshore Engineering Co. said Saturday it plans to set up a joint venture to build engines with Saudi Aramco in March next year in the latest move to strengthen their cooperation. The JV will break ground for the plant in the King Salman International Complex for [...]
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 [...]
SEOUL, Oct. 6 (Korea Bizwire) — Hyundai Heavy Industries Co., South Korea’s top shipbuilder, is likely to have a lengthy standoff with its labor union over this year’s wage deal, industry watchers said Sunday, adding a burden to its already struggling business. Hyundai Heavy has held 16 rounds of wage negotiations with the union since [...]
SEOUL, Jul. 23 (Korea Bizwire) — Hyundai Heavy Industries Co., South Korea’s largest shipbuilder, will file a suit for damages this week against its labor union over disruptive action at the company’s shareholders meeting in May and illegal strikes, company officials said Tuesday. Hyundai Heavy claimed it lost 9.2 billion won (US$7.8 million) due to [...]
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 [...]
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 [...]
GEOJE, May 15 (Korea Bizwire) — The Korean Metal Workers’ Union and union members from Daewoo Shipbuilding and Marine Engineering Co. (DSME) submitted a petition to the Fair Trade Commission on Tuesday, claiming that the merger between Hyundai Heavy Industries Co. and DSME undermines free competition and would create an oligopoly in South Korea’s shipbuilding [...]