As a consequence of the aftermath of the Russia-Ukraine war, Samsung Heavy Industries has suspended the production of blocks and components for 10 out of 15 liquefied natural gas (LNG) carriers contracted with a Russian shipyard. This move aligns with the international community’s collaborative effo
The number of mergers and acquisitions (M&As) involving major corporations in the country this year has more than halved compared to last year.On Dec. 20, CEO Score, a corporate data research institute, revealed that the number of M&As this year has reached 60. This information is based on quarterly
Daewoo Engineering & Construction (E&C) announced that Chairman Jeong Won-ju, having completed his schedule in Singapore, proceeded to Indonesia, which is celebrating the 50th anniversary of diplomatic relations with Korea. In Indonesia, he continued discussions with key stakeholders to explore busi
Daewoong Pharmaceutical announced on Dec. 1 that it has signed a contract to export Enavogliflozin, a SGLT-2 inhibitor, to a total of six countries in Russia and the Commonwealth of Independent States (CIS) region in association with the Russian pharmaceutical company JSC Pharmasyntez. The contract,
Daewoo E&C announced that its chairman, Jung Won-ju, visited Singapore on Nov. 27 and 28 to meet with the CEOs of Keppel Land and Capitaland Investment, subsidiaries of Temasek Holdings, one of the world’s largest sovereign wealth funds, to discuss collaborative opportunities in global real estate d
Hanwha Ocean has recently entered into a research and development service contract with the Defense Technology Quality Institute for the design of new “magnet-reducing equipment for submarines,” the company announced on Nov. 29. This equipment is designed to reduce the magnetic field generated by su
The Board of Audit and Inspection of Korea (BAI) is reportedly closely examining whether there were any unfair privileges taken or solicitation involved in the process of the government’s shares returning to the private sector. This scrutiny pertains to the massive policy fund-supported restructurin
Korea Hydro & Nuclear Power (KHNP) submitted its final bidding documents for participation in the new nuclear power plant construction project to ČEZ’s subsidiary Elektrárna Dukovany II (EDU II) on March 31. The Czech government runs ČEZ.The project is to build one 1,200 MW nuclear power plant in th
The number of fatalities at the construction sites of the top 100 construction companies was recorded as twenty in the third quarter of this year.On Oct. 30, the Ministry of Land, Infrastructure, and Transport revealed that the number of fatalities at the sites of the top 100 construction companies
Daewoo E&C announced on Oct. 25 that it is promoting its entry into the Eastern European nuclear power plant market in earnest.Demand for nuclear power generation has been growing again in Europe recently due to energy price uncertainties, increasing orders of nuclear power plants and related fields
Medytox's lawsuit against Hugel at the U.S. International Trade Commission (ITC) over botulinum toxin matters appears set to exclude one of its key issues: the strain dispute.According to industry sources on the 5th, during last month's evidence investigation procedure, the ITC ordered Medytox to su
The Korean shipbuilding industry, going through a severe labor shortage, is expanding its use of robots at shipyards. Korean shipbuilders are actively developing robots as a tool to boost competitiveness, as they believe that robots can increase their productivity and prevent accidents at workplaces
Daewoong Pharmaceutical is rapidly securing its position in the market by consecutively acquiring patents related to the treatment of autoimmune diseases. The company announced on Oct. 4 that it has registered three patents related to autoimmune disease treatments over the past six months.To date, D
Recent findings from the Ministry of Land, Infrastructure, and Transport’s Dispute Resolution Committee for Construction Defect Inspections indicate that GS Engineering & Construction has received the highest number of construction defects among construction companies over the past four years.MOLIT
Seven South Korean construction companies, including Samsung C&T and Hyundai Engineering & Construction, have been selected as “Top 100 Global Construction Giants.”On Sept. 20, the global consulting group Deloitte released its “2022 Global Construction Giants” report, announcing that seven South Kor
HD Hyundai Heavy Industries, Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering), and Samsung Heavy Industries, the top three in the domestic shipbuilding industry, have finalized this year’s wage and collective bargaining agreements in a timely manner. With an enhanced production capac
Amid controversies surrounding shoddy construction such as missing rebar in apartments, attention has been drawn to apartment defects. A recent analysis revealed that among the 15 companies that received the most apartment defect judgments over the past five years, five ranked within the top 10 in c
The achievement pace of order targets for South Korea’s “Big 3” shipbuilders has shown a slowdown compared to previous years. This development is attributed to a decrease in orders compared to last year and the impact of selective orders due to limited dockyard capacity.According to shipbuilding ind
Hanwha Ocean will build global production centers for submarines in North America (Canada) and Europe (Poland). The company has recently reorganized its submarine-related specialty ship organization to focus on domestic and international submarine orders worth a total of 80 trillion won.On Aug. 30,
Hanwha Ocean (formerly Daewoo Shipbuilding & Marine Engineering) is preparing to raise funds amounting to around 2 trillion won. This move is proactive investment in defense and other sectors in preparation for the future.On Aug. 22, Hanwha Ocean announced, “We are reviewing various ways to raise fu