SEOUL, July 29 (Korea Bizwire) — Nearly four out of 10 South Korean manufacturers are currently using artificial intelligence (AI) technology, a survey showed Wednesday. According to a survey conducted by global public cloud service operator Google Cloud of 1,154 executives at manufacturers in seven countries, only 39 percent of Korean firms replied that they [...]
SEOUL, July 8 (Korea Bizwire) — To get faster to an electric future, automakers need lighter, faster-charging batteries, and South Korea wants to take a leading role in the global battery race amid a major technological shift in the automotive industry. South Korea, China and Japan produce most of the world’s EV batteries, but auto [...]
SEOUL, Nov. 30 (Korea Bizwire) — A series of new coronavirus outbreaks have been reported at major industrial plants amid growing concerns about production losses, companies said Monday. COVID-19 infections have affected production and sales at local manufacturers this year. Kia Motors Corp., the country’s second-biggest carmaker, suspended two of its three plants in Gwangju, [...]
SEOUL, Nov. 22 (Korea Bizwire) – Nearly two-thirds of South Korean manufacturing firms believe that the business environment will not change much under the forthcoming Joe Biden administration in the United States, a poll showed Sunday. According to a survey conducted by the Korea Chamber of Commerce and Industry (KCCI), 65.3 percent of local manufacturers [...]
SEOUL, March 19 (Korea Bizwire) – South Korean companies operating in Europe are on high alert after the European Union (EU) imposed a 30-day entry ban on travelers outside the bloc to stem the spread of the novel coronavirus, industry sources said Thursday. The European Union (EU)has decided to shut its borders and enforce travel [...]
SEOUL, Feb. 2 (Korea Bizwire) — The new coronavirus-triggered angst appears to be spilling over to the Korean corporate realm as the global supply chain is feared to face some disruptions amid the rapid spread of the novel coronavirus in China, industry watchers said Sunday. With the new coronavirus killing more than 300 people in [...]
SEOUL, Jan. 31 (Korea Bizwire) — South Korean manufacturers, led by carmakers, appear to be beginning to feel the pinch of the rapid spread of the new coronavirus, with possible disruption to production and plant operations around the corner, industry sources said Friday. Hyundai Motor Co. and other major manufacturers have been operating plants in [...]
SEOUL, Sept. 5 (Korea Bizwire) — South Korean companies are making progress with localizing production of materials essential for semiconductors and displays, which were previously imported from Japan before restrictions were imposed on them by the Japanese government. A local company recently succeeded in developing ultra-pure hydrogen fluoride, which was one of the materials that [...]
SEOUL, Feb. 11 (Korea Bizwire) — Inventory of South Korean manufacturers has increased to its highest point in 10 years, data showed Monday, a likely sign of a dulled economy. Figures obtained from the Korea Center for International Finance and Statistics Korea put the inventory-to-sales ratio in December last year at 116 percent. The number [...]
SEOUL, Nov. 28 (Korea Bizwire) — An absolute majority of South Korean manufacturers with offshore plants are not considering returning home due mainly to the need to expand overseas markets, a poll showed Wednesday. The survey of 150 such manufacturing companies, taken by the Korea Economic Research Institute (KERI), showed 96 percent of respondents have [...]