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SK Innovation

24 July 2013 - 11:05am

SK Innovation held an investment conference on May 14 and announced that it decided to expand the second flexible copper clad laminate (FCCL) production lines in the Jeungpyeong Industrial Complex located in North Chungcheong Province. An FCCL is a key material for flexible printed circuit boards (FPCBs) that are used in smart phones, tablet PCs, etc. 

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Computer image of the large-scale jack-up rig that Samsung Heavy Industries will construct.

Samsung Heavy Industries

24 July 2013 - 11:00am

Samsung Heavy Industries (SHI) has made inroads into the world’s large-scale jack-up rig market which is emerging as the shipbuilders’ new revenue source these days.

SHI announced on June 12 that it signed a contract with Norway’s Statoil to construct two large scale jack-up rig units for offshore drilling in the North Sea. The contract value is known as about US$ 1.3 billion (about 1,464.4 billion won). The contract includes an option of two more units, which represents the possibility of winning an additional order of two units.

Jack-up rig is an offshore drilling facility...

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Employees of Ssangyong E&C are demonstrating against KAMCO’s decision at the front of KAMCO headguarters.

Ssangyong E&C

24 July 2013 - 10:53am

Ssangyong Engineering & Construction (Ssangyong E&C) submitted a high-intensity self-rescue plan to the creditors in September last year after it failed all of the five M&A attempts to overcome the liquidity crisis. Then, Ssangyong E&C implemented radical personnel restructuring. Half of its executive members were held responsible for the crisis and left the company, and about 30% of its 1,200 employees (including short-term contract workers) were laid off. 

Ssangyong E&C'...
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Japanese Cars

24 July 2013 - 10:38am

Riding on a weaker yen, Toyota’s low-price approach is getting a good response in Korea. Toyota said on June 3 that it offered discounts of up to 7 million won last month and its May sales rose 53% year-on-year and 128% from a month ago.

For the same period, five Korean car makers sold an average of 1.2% less year-on-year at home. Hyundai and Kia made early debut of their 2014 new models at 200,000 to 300,000 won lower prices than before, but failed to draw attention due to Toyota’s blow-out sale. Toyota said it will keep the momentum in June, too, by maintaining the maximum...

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Imported Cars

24 July 2013 - 10:17am

It has been found that the monthly sales of imported cars in Korea set a new record thanks to such factors as the currency exchange rate and the FTA in spite of the domestic economic recession. Local automakers are paying keen attention to the trend with the sales being expected to continue going up for a while. 

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Semiconductors

24 July 2013 - 10:04am

Semiconductor manufacturers’ investment into plants and equipment will likely be made at a snail’s pace. There is slim chance of market share competition because nothing but smart devices is driving up demand for semiconductors and the semiconductor manufacturers seem happy with gains from the stabilized market prices for now. The equipment suppliers are under severe stress to come up with strategies to survive the current market situation where the 2-year-long investment downturn continues even further and the Japanese yen keeps undervalued.

According to industry sources on May 28...

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LG Display opened a play therapy center for disabled children in Vietnam on May 22.

LG Display

23 July 2013 - 6:04pm

LG Display is turning itself into a role model of corporate social contribution overseas. 

Approximately 600 employees of the company have participated in its outreach program in Quoc Oai, Vietnam since April this year, building a rehabilitation center for the disabled and a play therapy center for physically handicapped children. The opening ceremony was held on May 22, and attended by personnel from the Vietnamese government and around 30 of the company’s executive and staff members, including labor union leader Seok Ho-jin. 

The company selects so-called innovation leaders...

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Gastech 2012 was held in London, UK.

Gastech 2014

23 July 2013 - 4:31pm

Driving awareness of innovation and advancement in gas technologies, Gastech Conference & Exhibition brings its Centres of Technical Excellence (CoTEs) to Korea in 2014.

The rise in energy demand worldwide has put significant pressure upon the energy industry to ensure security of supply. Natural gas has become the preferred energy source for manycountries looking to secure energy supply and lower emission levels. While theindustry is pushing the boundaries to increase gas production, there is only so much that can be done with current technologies.

Technological...

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