Companies
Shipbuilding industry
S.Korea maintains global lead in shipbuilding industry
Thanks to winning the most orders this year, South Korea’s shipbuilding industry has solidified its lead in the global shipbuilding market for the third year in a row.Recently Korean shipbuilders have been on a winning streak, securing lucrati
Dec 27, 2020 (Gmt+09:00)
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Semiconductors
Samsung overtakes TSMC as top chipmaker by market cap
Samsung Electronics Co. has reclaimed its throne as the world's largest semiconductor company, overtaking global foundry giant Taiwan Semiconductor M...
Dec 27, 2020 (Gmt+09:00)
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Streaming service competition
SoftBank-backed Coupang enters Korea’s competitive video streaming arena
South Korea’s e-commerce giant Coupang Corp. has thrown down the gauntlet to compete against Netflix Inc. and other local streaming service pro...
Dec 24, 2020 (Gmt+09:00)
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Satellite communications
Hanwha Systems to invest $30 mn in US communications firm Kymeta
Hanwha Systems Co., the defense industry arm of Hanwha Group, has decided to invest 33.2 billion won ($30 million) in Kymeta Corp., a US satellite co...
Dec 24, 2020 (Gmt+09:00)
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Overseas orders
Daewoo E&C wins $3.1 bn in orders from Iraq, Mozambique
Daewoo Engineering & Construction Co. has racked up two orders totaling $3.1 billion from Iraq and Mozambique to build a port and an LNG train, r...
Dec 24, 2020 (Gmt+09:00)
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Factory suspension
Ssangyong Motor to briefly halt production at main plant
South Korea’s Ssangyong Motor Co. is temporarily suspending production at its main plant due to disruptions of auto parts supplies from its con...
Dec 23, 2020 (Gmt+09:00)
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Future mobility
LG Electronics, Magna to launch $1 bn EV gear JV
LG Electronics Inc. and Magna International Inc. will form a $1 billion joint venture to build electric car components as the tech companies tap into...
Dec 23, 2020 (Gmt+09:00)
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Interview
D.CAMP eyes tech startups for global expansion
D.CAMP, South Korea's largest non-profit foundation for startups, is on the lookout for domestic tech startups with the potential to go big in globa...
Dec 23, 2020 (Gmt+09:00)
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F&B industry
Bibigo mandu sets milestone in Korean food industry
South Korea's food and beverage giant CJ CheilJedang Corp. has become the first domestic food company to have a single item pull in over 1 trillion...
Dec 22, 2020 (Gmt+09:00)
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Shipbuilder stake sale
Hanjin Heavy set for sale to Dongbu-led consortium
A South Korean consortium led by construction firm Dongbu Corp. has been picked as the preferred negotiator to buy a controlling stake in cash-strapp...
Dec 22, 2020 (Gmt+09:00)
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Shipbuilding outlook
Korean shipbuilders sailing toward order target; shares on uptick
Shares of South Korea’s shipbuilders have been neglected in the market, lagging growth and value stocks, as orders for new ships almost stalled...
Dec 22, 2020 (Gmt+09:00)
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Post Lee Kun-hee
Samsung heirs may face record-high $10 bn inheritance tax bill
The Samsung Group heirs, including Samsung Electronics Co.'s de facto leader Jay Y. Lee, may be looking at a record-high $9.9 billion inheritance ta...
Dec 22, 2020 (Gmt+09:00)
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Eco-friendly energy
Hanwha Solutions to raise $1 bn to boost eco-friendly energy businesses
Hanwha Solutions Corp. is preparing to raise 1.2 trillion won ($1.1 billion) through rights issues to shore up new growth drivers, particularly its ...
Dec 22, 2020 (Gmt+09:00)
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Insolvency protection
Ssangyong Motor files for court receivership, misses loan repayment
Ssangyong Motor Co. has filed for court receivership after the South Korean unit of India’s Mahindra and Mahindra Ltd. missed a 60 billion won ...
Dec 21, 2020 (Gmt+09:00)
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Power plants
Doosan Heavy clinches $562 mn Guam power plant deal
Doosan Heavy Industries & Construction Co. has clinched an order to build a combined cycle power plant in Guam from a consortium of Korea Elect...
Dec 21, 2020 (Gmt+09:00)
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Urban mobility
Autonomous driving startup 42dot plans Level 4 self-driving in Seoul
42dot, a South Korea-based autonomous driving startup, plans to launch a Level 4 self-driving service in some areas of Seoul next year.The company sa...
Dec 21, 2020 (Gmt+09:00)
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Blockchain technology
Finhaven to launch world's first blockchain-powered exchange
Canada-based fintech startup Finhaven is set to launch Finhaven Private Markets, the world's first blockchain-powered securities exchange using digit...
Dec 21, 2020 (Gmt+09:00)
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Refinery
S-Oil to speed up push into chemical business
S-Oil Corp., 63.4% owned by Saudi Aramco, will more than double its petrochemical production capacity over the next decade to further expand beyond t...
Dec 21, 2020 (Gmt+09:00)
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Lotte World Tower
Sunset paints crimson sky over Seoul
Bravehearted visitors enjoy a scenic sunset view from Lotte World Tower's Sky Bridge, an 11-meter bridge connecting the two steel peaks of the ci...
Dec 18, 2020 (Gmt+09:00)
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Achievements
Hanjin chairman receives honorary gold medal from France
Hanjin Group Chairman Cho Won-tae has been awarded an honorary medal from the French government for the company’s diplomatic contribution, acc...
Dec 18, 2020 (Gmt+09:00)
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Games
Kakao Games injects $173mn into S.Korean game company
Kakao Games Corp. has injected around 190 billion won ($173 million) into South Korean game company Neptune Corp., pouring in nearly half the procee...
Dec 18, 2020 (Gmt+09:00)
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Robotics
See Spot trot: Hyundai Motor wows crowd with robotic dog
This is Spot, the four-legged robot developed by Boston Dynamics Inc. – the US robotics company acquired by Hyundai Motor Co. earlier this mont...
Dec 18, 2020 (Gmt+09:00)
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Battery cooperation
LG Energy Solution, Indonesia sign MOU on battery cooperation
LG Energy Solution, the battery unit of LG Chem Ltd., has signed a memorandum of understanding with the Indonesian government’s investment auth...
Dec 18, 2020 (Gmt+09:00)
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Cloud management
Korea’s cloud management firm Bespin Global considers Nasdaq listing
Bespin Global, a South Korean cloud technology consulting and management company, is considering listing its shares on the US tech-heavy Nasdaq marke...
Dec 17, 2020 (Gmt+09:00)
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Robotaxis
Hyundai Motor JV to launch robotaxi services in US by 2023
Hyundai Motor Group's autonomous driving joint venture Motional and US-based ride-hailing company Lyft have joined forces to offer robotaxi services...
Dec 17, 2020 (Gmt+09:00)
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Foundry deals
Samsung clinches 2nd deal to make Nvidia’s latest gaming chips
Samsung Electronics Co. will manufacture Nvidia Corp.’s latest gaming chips in the second such contract of the year from the US chipmaker, as t...
Dec 17, 2020 (Gmt+09:00)
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PC games
Neptune rises as dark horse in global game industry
A South Korean game company is hoping to shake up the global game landscape with its latest title, Eternal Return: Black Survival, a PC game that ha...
Dec 17, 2020 (Gmt+09:00)
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Shipbuilding industry
Hyundai Heavy hits jackpot again, clinches $915 mn ship orders
South Korea's major shipbuilding companies are on a winning streak, securing lucrative contracts to build liquefied natural gas (LNG) carriers, Very...
Dec 16, 2020 (Gmt+09:00)
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Pre-IPOs
Naver Webtoon taps foreign investors ahead of US listing
Global webtoon (digital comics) platform Naver Webtoon is paving the way to a listing in the US market, reaching out to foreign investors for pre-IP...
Dec 16, 2020 (Gmt+09:00)
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Executive reshuffles
Hyundai Motor Chairman's inner circle promoted to key leadership
Hyundai Motor Group has carried out a massive reshuffling among its key affiliates, with members of Chairman Chung Euisun's inner circle promoted to...
Dec 16, 2020 (Gmt+09:00)
