Industry | BusinessKorea

Tuesday, February 28, 2017

Industry

The Fair Trade Commission of South Korea gave its final approval of Samsung Electronics’ acquisition of Harman on February 27.
No Problem in Fair Trade
28 February 2017 - 12:00pm
The Fair Trade Commission of South Korea gave its final approval of Samsung Electronics’ acquisition of Harman on February 27. “We informed Samsung Electronics of the fact after determining that the...
Starting with the third improvement of the blast furnace 3, POSCO will replace the electric furnace 3 in the plant 2.
Steel Facility Upgrade
28 February 2017 - 11:45am
POSCO will invest about 1.05 trillion won (US$921.11 million) to upgrade its facility in Pohang steel mill this year. Starting with the third improvement of the blast furnace 3, the company will...
Hyundai Heavy Industries, which jettisoned the non-shipbuilding business by means of the split-up, will be able to flexibly respond to the shipbuilding industry crisis based on slim organization.
For Enhanced Competitiveness
28 February 2017 - 11:30am
Hyundai Heavy Industries suffering from the worst order drought has completed a process of dividing the company swiftly and decisively. This means that the company changed their business structure...
Samsung SDI supplied the batteries for energy storage system (ESS) to California of the US, which is the world’s largest supply deal in the industry and accounts for 40% of the electric ESS market in the U.S.
Largest Ever Supply
27 February 2017 - 4:45pm
Samsung SDI supplied the batteries for energy storage system (ESS) to California of the U.S. It is the world’s largest supply deal in the industry, which accounts for 40 percent of the electric ESS...
South Korea came in first out of 45 countries in the trademark category of the 2016 International IP Index.
Attention to Property Right
27 February 2017 - 4:45pm
The Korea Intellectual Property Office announced on February 26 that South Korea came in first out of 45 countries in the trademark category of the 2016 International IP Index recently released by...
Hyundai Merchant Marine decided to increase the limit on the total nominal value of its convertible bonds from 800 billion won (US$680 million) to 2 trillion won (US$1.7 billion).
Money Flow-in
27 February 2017 - 4:30pm
Hyundai Merchant Marine held an extraordinary general meeting of shareholders on February 24 at its headquarters located in Seoul and decided to increase the number of shares to be issued from 600...
South Korea’s household debt-to-GDP ratio showed an increase of 7.7 percentage points to reach 90%.
Explosive Household Debt
27 February 2017 - 4:30pm
The Korea Institute of Finance announced on February 26 that South Korea’s household debt-to-GDP ratio was 90% at the end of June last year, when the figure was 87.6% for Britain, 78.8% for the...
SK Hynix is plagued by a negative outlook from Credit Suisse (CS again after “USB shock.”
Uncertain Future
27 February 2017 - 4:15pm
SK Hynix is plagued by a negative outlook from Credit Suisse (CS), another major investment bank in Europe, again after “USB shock.” As CS released a report that SK Hynix is highly likely to fail in...
Negotiations for a free trade agreement (FTA) between S. Korea and the Gulf Cooperation Council (GCC) is expected to be resumed within this year.
FTA with Middle East
27 February 2017 - 4:15pm
It is expected that negotiations for a free trade agreement (FTA) between South Korea and the Gulf Cooperation Council (GCC), which were halted in 2009, will be resumed within this year. The GCC has...
Sonangol needs to secure a charter in order for DSME to deliver two drillships and secure the liquidity of 1 trillion won (US$879.89 million).
Relief of Financial Crunch?
24 February 2017 - 12:00pm
Angola's state-run oil company Sonangol are having the last minute negotiation with ExxonMobil Corp., a U.S.-based oil major, on charter contracts for two drillships delievered from Daewoo...
Hyundai Motor and its sister company Kia Motors outclassed Germany’s BMW and Audi, Lincoln, Volvo and other brands in a used car quality survey done on Feb. 22 (local time) by JD Power.
Second-hand Car Quality
24 February 2017 - 11:45am
Hyundai Motor and Kia Motors recorded the best-ever records in a used car quality survey by JD Power with the highest authority in the United States. The two Korean automakers outclassed Germany’s...
Kolon Sport to Establish Joint Venture for Sportswear Biz with China’s ANTA
Expansion to Chinese Market
24 February 2017 - 11:30am
Kolon Sport, an outdoor gear and clothing brand of Kolon Industries FnC, will establish a joint venture with ANTA, the largest sportswear maker in China, targeting the Chinese market in earnest. The...

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