Search Results | BusinessKorea

Friday, January 19, 2018

Search Results:

South Korea made the biggest growth against China and Japan in the amount of new orders in 2017.

Highest Growth among Global Players

10 January 2018 - 10:15am
Jung Min-hee

The amount of new orders received by South Korean shipyards stood at 6.45 compensated gross tonnage (CGT) last year, up 198.6 percent from a year ago. South Korea made the biggest growth against China and Japan. The country took second place in terms of amount of order backlog after China, falling short of 274 CGT. South Korea also came in second in terms of orderbook value by a head, remaining at the same levels thanks to its high value added vessel contracts.

According to British shipbuilding and marine industry tracker Clarkson Research Services on January 9, the amount of global...

read more
GM Korea CEO Kaher Kazem hopes the company focus on turning our Korean business around and create a sustainable future based on profitability.

After 25 Rounds of Negotiations

10 January 2018 - 10:00am
Jung Min-hee

GM Korea Co. has reached an agreement with its workers union on a wage package for the year 2017 in eight months. Its labor and management will also immediately launch discussions for a follow-on wage and collective bargaining agreement and draw a conclusion within February. 

In a vote held for two days from January 8 to 9, 69.2 percent, or 8,534, of 12,340 union members who cast ballots supported the tentative agreement signed by the company and the union last month, said GM Korea on January 9.

GM Korea and its labor union have had 25 rounds of negotiations after the first...

read more
Samsung Electronics Co. has been excluded from the MSCI KOREA ESG Leaders Index of Morgan Stanley Capital International (MSCI).

Due to Absence of Head

10 January 2018 - 9:45am
Yoon Yung Sil

Samsung Electronics Co. has been excluded from the MSCI KOREA ESG Leaders Index of Morgan Stanley Capital International (MSCI), the world's largest index firm. The MSCI removed the company from the index on the grounds that an exhaustive social controversy surrounding Samsung Electronics has had negative effects on business management after the Choi Soon-sil political scandal.

According to the MSCI and investment banking industry sources on January 8, Samsung Electronics was excluded from the MSCI KOREA ESG Leaders Index. ESG stands for Environmental, Social and Governance and it is...

read more
Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Affairs Authority, visited South Korea as a special envoy and met with Chief Presidential Secretary Lim Jong-seok.

Conflicts Solved?

10 January 2018 - 9:30am
Jung Suk-yee

Chief Presidential Secretary Lim Jong-seok and Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Affairs Authority, met with each other in Seoul on January 9. 

According to them, South Korea and the UAE are going to communicate more with each other, for even closer bilateral relations, by means of diplomatic and national security meetings as well as economic ministerial meetings and those between special envoys.

Al Mubarak expressed his interest in South Korea’s alternative energy and solar power generation technology as well as nuclear power plants and...

read more
CoinMarketCap, excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity on January 8 (local time),

Excluded from Global Price Calculation

10 January 2018 - 9:30am
Yoon Yung Sil

The value of global cryptocurrencies plummeted after an influential index excluded South Korean exchanges from its data of price average calculations. It showed that every digital currency is priced at a 30 percent premium in South Korea.

“This morning we excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity,” CoinMarketCap, arguably the most prominent global index of cryptocurrency prices based in the US, wrote on Twitter on January 8 (local time). CoinMarketCap sums up real-time...

read more
LG House Hold & Health’s royal-themed cosmetics brand ‘Whoo’, which was released in 2003, have recorded an annual sales growth of nearly 40 percent from 2004.

Annual 40% Growth on Average

9 January 2018 - 10:30am
Choi Mun-hee

LG Household & Health Care Ltd. announced on January 8 that its royal-themed cosmetics brand ‘Whoo’ surpassed 1.4 trillion won (US$1.31 billion) in sales last year. Its fermented cosmetics brand ‘Su:m’ also achieved sales of more than 380 billion won (US$355.81 million).

Whoo, which was released in 2003, have recorded an annual sales growth of nearly 40 percent from 2004. In particular, it has shown a remarkable growth in sales from 2006 after actress Lee Young-ae was chosen as its model. Its sales grew from 100 billion won (US$93.63 million) in 2009 to 800 billion won (US$749....

read more
The Wall TV of Samsung Electronics unveiled on January 7

World’s First Micro-LED TV

9 January 2018 - 10:15am
Cho Jin-young

Samsung Electronics held Samsung First Look 2018 in Las Vegas on January 7 (local time) and unveiled The Wall TV, a 146-inch modular TV incorporating micro-LEDs, in front of more than 300 reporters.

The Wall TV is the world’s first TV that uses micro-LEDs. The micrometer-sized LEDs function as light sources in the TV so it does not have to be equipped with any backlight and color filter. Samsung Electronics explained that The Wall TV is the display that currently provides the most excellent image quality.

“We are focusing on QLED and micro-LED TVs at the same time,” the...

read more
LS Cable & System CEO Myung No-hyun (second from left) is giving instructions while checking a plant in Donghae that he visited last January as part of the opening ceremony.

Different Strategy by Region

9 January 2018 - 10:00am
Jung Min-hee

According to industry sources on January 8, LS Cable & System (LS C&S) in a slump for a long time in recent years made an impressive turnaround with sales of an estimated 3.5 trillion won or US$3.15 billion (on a consolidated basis), last year. The company is painting a rosy picture that if this trend holds, its sales will exceed 4 trillion won (US$3.6 billion) this year and the company will be able to achieve "its second take-off."

On January 2, chairman Koo said in his New Year message, "We should expand our overseas business by operating profit-oriented business such as...

read more
South Korean Director General for KORUS FTA Negotiations Yoo Myung-hee arrived at the Washington Dulles International Airport on January 4 (local time).

Negotiations Kicked Off

9 January 2018 - 9:45am
Jung Suk-yee

The Ministry of Trade, Industry & Energy announced that the first round of negotiation for KORUS FTA revision took place for hours on January 5 at the Office of the United States Trade Representative (USTR). Director-General Yoo Myung-hee led the South Korean side in the negotiation with the U.S. side headed by Michael Beeman, Assistant USTR for Japan, Korea, and APEC.

Their opinions clashed in the first round. The U.S. demanded elimination of non-tariff barriers with regard to automobiles and stricter rules of origin when it comes to automobiles and steel while mentioning...

read more
There is a growing move also in Korea to file lawsuits in connection with security flaws in Intel’s central processing units (CPUs).

Class Action Against Intel

9 January 2018 - 9:45am
Cho Jin-young

There is a growing move to file lawsuits in connection with security flaws in Intel’s central processing units (CPUs) including law firm Damwoo’s preparation for a class action lawsuit.

According to industry sources on January 8, Damwoo set up a website for a class action lawsuit against Intel which came under heavy fire due to its CPU security flaws, and is receiving applications for class action lawsuits.

"The high-tech team of law firm Damwoo is composed of experts on computer and IT technology laws and has conducted in-depth legal reviews of the seriousness of the ‘...

read more

Pages

Copyright 2013 BusinessKorea Co., Ltd.
301 Samdo Building, 12-1
Yeoido-dong, Yeongdeungpo-gu
Seoul, Korea 150-010
Tel: +82-2-578-3220
Fax: +82-2-578-3224
Email: contact@businesskorea.co.kr

 
 

Web design by: