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Reporter : Park Jae-hyuk
Thu, October 6, 2022 | 06:47
KSOE wins 7 eco-friendly ship orders worth $1.5 billion
Korea Shipbuilding & Offshore Engineering (KSOE) signed a 1.6 trillion won ($1.1 billion) contract with Maersk of Denmark for six 17,000-TEU methanol-powered container ships and another deal worth 476 billion won with U.S.-based Excelerate Energy for a 170,000-cubic-meter liquefied natural gas floating storage and regasification unit (LNG-FSRU), the shipbuilder said Wednesday.
Companies | 2022-10-05 15:29
Ruling party questions POSCO's preparedness for Typhoon Hinnamnor
Lawmakers of the ruling People Power Party (PPP) raised questions at Tuesday's National Assembly audit on whether POSCO had taken proper countermeasures last month against Typhoon Hinnamnor, which flooded the steelmaker's main plant in Pohang, North Gyeongsang Province.
Companies | 2022-10-04 20:46
Hyundai Glovis acquires GEAA to sell used cars in US
Hyundai Glovis has acquired a 100 percent stake in Pennsylvania-based Greater Erie Auto Auction (GEAA) to operate a used car auction dealership in the U.S., the company said Tuesday. The logistics unit of Hyundai Motor Group plans to reinforce GEAA's sales networks in Cleveland and Pittsburgh by taking advantage of GEAA's popularity in Pennsylvania and its lower prices compar...
Companies | 2022-10-04 14:49
Samsung to mass-produce 1.4-nano chip by 2027
Samsung Electronics will mass-produce 1.4-nanometer chips by 2027, after introducing its 2nm process by 2025 with enhanced gate-all-around (GAA)-based technology, the conglomerate said Tuesday. The Korean tech giant's announcement hinted at fiercer competition with its chief rival, Taiwan's TSMC, which also unveiled its own plan earlier this year to mass-produce 1.4-nm chips ...
Tech | 2022-10-04 11:58
KDB criticizes DSME union for defending incumbent management
Korea Development Bank (KDB) expressed concerns over Daewoo Shipbuilding & Marine Engineering's (DSME) unionized workers, who reportedly decided to ask Hanwha Group to allow the shipbuilder's incumbent management to stay in office, even after the conglomerate becomes its largest shareholder.
Companies | 2022-10-02 15:34
Minority shareholders call for maritime ministry to privatize HMM
Oceans and Fisheries Minister Cho Seung-hwan has drawn criticism from minority shareholders of HMM, formerly known as Hyundai Merchant Marine, because of his recent remarks that the ministry is not considering privatizing the profit-making shipping company in the near future. Raising concerns over the possibility of the delayed privatization deteriorating HMM's valuation amid...
Companies | 2022-10-02 13:28
Korea could suffer huge losses as Russia sanctions inhibit satellite launches
Korea is feared to lose a total of 47.2 billion won ($33 million) paid to Russia in deposits for contracts to use Russian rockets to put Korean satellites into orbit, according to an independent lawmaker, Thursday.
Tech | 2022-09-29 16:01
Dunamu CEO cries foul over politicians' skepticism of cryptocurrencies
Dunamu CEO Lee Sirgoo urged politicians to reform the current regulations on digital assets in line with international standards, without hesitating to express his concerns over lawmakers and government officials maintaining negative views concerning blockchain and cryptocurrencies.
Cryptocurrency | 2022-09-29 13:46
Companies halt large investments amid deepening economic downturn
Fears of a perfect storm of a strong U.S. dollar, soaring inflation and rising interest rates have forced a growing number of major conglomerates here to postpone or retract their investment plans domestically and overseas, according to industry officials, Wednesday. With the Korean currency weakening to a 13-year low of 1,440 won against the U.S. dollar during intraday tradi...
Companies | 2022-09-28 15:20
Volvo launches electric excavator in Korea despite concerns over practicality
Volvo Construction Equipment (Volvo CE) has dismissed concerns among industry insiders about the insufficiency of its electric construction equipment ― compared to conventional diesel machines ― showing its confidence regarding the quality and performance of the ECR25 compact electric excavator, which was displayed in Seoul, Wednesday, for the first time in Asia.
Companies | 2022-09-28 14:38
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Typhoon Noru hits the Philippines forcing thousands to evacuate
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