Industry | BusinessKorea

Monday, January 22, 2018


China is seeking to undertake the One Belt, One Road project in the African region where they are struggling, under the name of Daewoo E&C.
Tool for Breakthrough?
26 December 2017 - 9:45am
The Chinese government is showing a move to acquire and use Daewoo Engineering & Construction Co. for the One Belt, One Road project, an ambitious attempt to recreate some of the economic...
Kim Sang-jo, Commissioner of The Korea Fair Trade Commission (KFTC).
Reversing Merger Guideline
22 December 2017 - 10:45am
The Korea Fair Trade Commission (KFTC) determined on December 21 that Samsung SDI has to additionally sell its 4.04 million or so shares in Samsung C&T in order to do away with the circular...
VONO Soup Production in Korea
22 December 2017 - 10:30am
Nongshim Co. will set up a joint venture with global food firm Ajinomoto Co. to manufacture Vono Soup in South Korea. The company announced on December 21 that it has signed an agreement to set up a...
An aerial view of PT. Arbe Styrindo plant in Indonesia.
Post-China Strategy
22 December 2017 - 10:30am
After Lotte Group suffered a huge loss due to China’s economic retaliation against South Korea over the deployment of the U.S. Terminal High Altitude Area Defense (THAAD) missile system, Chairman...
Unified into ‘Combo 1’
22 December 2017 - 10:15am
Quick charge methods different depending on electric vehicles will be unified into one. The Korean Agency for Technology and Standards announced on December 21 that the agency would announce the...
Sohn Jae-il, CEO of Hanwha Land Systems (right), is shaking hands with Mette Sørfonden, director of the NDMA after signing an export contract at the Norwegian Ministry of Defense on December 20 (local time).
Export of Weapons to Norway
22 December 2017 - 10:15am
Hanwha Land Systems, a defense subsidiary of the Hanwha Group, announced on December 21 that the company inked a contract to export 24 K9 Self-Propelled Guns and six K10 Ammunition Resupply Armored...
Joint Development with SoundHound
22 December 2017 - 10:15am
A voice-recognition personal assistant service will be deployed in new models of Hyundai Motor, Kia Motors and Genesis set to roll out as early as 2019. Hyundai Motor Group announced on December 21...
The US House of Representatives’ addition of a clause on the base erosion and anti-abuse tax (BEAT) is still making Korean companies tense.
Another Concern amid Relief
22 December 2017 - 10:00am
Concern over the long-term weakening of Korean businesses’ competitiveness is growing as the corporate tax rates of Korea and the US were reversed while Korean companies were relieved as the US’...
The Korea Maritime Corporation and Hyundai Merchant Marine (HMM) will inject more than 3 trillion won (US$2.77 billion) into ordering a total of 20 ships, including nine 20,000 TEU-class ULCVs and 11 vessels with capacities of over 13,000 TEU.
Korea Maritime Corp to Be Launched
22 December 2017 - 9:45am
As the “Bill on the Establishment of the Korea Maritime Corporation (KMC),” which was proposed by Rep. Lee Gae-ho of the ruling Minjoo Party of Korea, passed the Legislation and Judiciary Committee...
The technology export of Kolon Life Science’s degenerative arthritis drug “Invossa” worth approximately US$400 million to Japan is in peril, while HanAll Biopharma entered into an around  US$500 million export deal of new drug candidate.
Export of New Drug Technologies
21 December 2017 - 12:15pm
Amid local bio pharmaceutical companies’ active development of new drug technologies, the Korean bio pharmaceutical industry shows mixed results in new technology exportation. The technology export...
Domestic shipping companies are joining in introducing the blockchain technology in their operation of ships. .
Blockchain Craze in Shipping Industry
21 December 2017 - 11:45am
The era of containers equipped with Internet of Things (IoT) sensors that automatically check the related data is arriving. Denmark-based Maersk Line, a shipping giant in the global market, joined...
South Korea has imported an increasing amount of crude oil this year from the US and Asian countries to reduce its dependence on crude oil imports from the Middle East.
Serving Two Ends
21 December 2017 - 11:30am
South Korea’s crude oil, petroleum product, LNG, LPG and coal imports from the United States totaled US$4.009 billion from January to November this year, up 148.2% from a year ago, according to the...


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