SEOUL, Sept. 26 (Korea Bizwire) — POSCO International Corp. said Tuesday it has signed a preliminary agreement with a U.S. grain company to push for a joint venture and other related investment in the grain supply. The joint venture framework agreement, signed with Bartlett and Company, commit the two companies to establishing a joint venture [...]
SEOUL, Sept. 26 (Korea Bizwire) — Hyundai Steel Co., South Korea’s No. 2 steelmaker, decided Tuesday to set up a steel pipe subsidiary as part of efforts to boost competitiveness by streamlining its business portfolio. The plan, which was approved at a board meeting, calls for completing the establishment of the envisioned subsidiary by the [...]
SEOUL, Sept. 26 (Korea Bizwire) – The midsize SUV market is gaining popularity in Korea, and it’s influencing the way cars are manufactured. Currently, SUV factories are working at full throttle, churning out a large number of vehicles, while production facilities dedicated to manufacturing sedans are experiencing a slowdown in output. This situation is evident at [...]
SEOUL, Sept. 25 (Korea Bizwire) — U.S. wireless chipmaker Broadcom Inc. said Monday it plans to seek an appeal against the South Korean regulator’s decision to slap a 19.1 billion-won (US$14.3 million) fine for its unfair business practices against Samsung Electronics Co. In a statement, Broadcom said it was “disappointed” over the Fair Trade Commission’s (FTC) decision, [...]
CHANGWON, Sept. 23 (Korea Bizwire) – K Shipbuilding, in collaboration with Doosan Robotics, has successfully developed welding automation equipment that utilizes collaborative robots to engrave characters onto ship hulls. This achievement was announced by the company on Friday. Collaborative robots, designed to operate alongside humans and engage in physical interactions with them, played a pivotal role [...]
SEOUL, Sept. 22 (Korea Bizwire) – The price of matsutake mushrooms from Gangwon Province, renowned for their exceptional quality, is skyrocketing as the Chuseok holiday approaches. Matsutake mushrooms, often referred to as “aristocratic mushrooms,” are coveted for their rarity and distinct flavor. Among them, Yangyang matsutakes from Yangyang, Gangwon Province, are regarded as treasures, commanding a [...]
SEOUL, Sept. 22 (Korea Bizwire) – A recall order has been issued for imported electric kickboards, including those from Xiaomi that Coupang imports from China, due to potential electric shock and fire risks. In addition, strollers, toys and name stickers commonly used by elementary school students at the start of new semesters were also recalled. This [...]
SEOUL, Sept. 22 (Korea Bizwire) – The Korea Fair Trade Commission (KFTC) has ruled that the U.S. semiconductor company Broadcom acted unfairly by forcing unfavorable long-term contracts (LTAs) on Samsung Electronics and disrupting the supply of smartphone components. As a result, the KFTC has provisionally imposed a fine of 19.1 billion won on Broadcom’s U.S. headquarters. [...]
SEOUL, Sept. 21 (Korea Bizwire) — Smartphone shipments in South Korea declined more than 13 percent on-year in the second quarter, recent data showed Thursday, as demand remained sluggish over economic uncertainties. The total shipment came to approximately 2.8 million units for the April-June period, down 13.2 percent from a year ago, as “demand for [...]
SEOUL, Sept. 21 (Korea Bizwire) — Major South Korean shipbuilder Hanwha Ocean Co. said Thursday it has signed an agreement with three foreign institutions on the development of a large liquefied carbon dioxide carrier. The deal calls for Hanwha Ocean and the institutions to share their know-how and experiences to develop a 40,000-cubic-meter liquefied CO2 [...]