A growing number of global enterprises are apparently trying to check the influence of the Korean semiconductor industry by supporting Chinese companies.According to major overseas media outlets including the New York Times on June 24, Qualcomm will provide technical support to the Semiconductor Man

The National Pension Fund (NPS) is set to freeze the plan for a merger between SK C&C and SK Holdings based on the judgment that it could undermine the share value of SK Holdings. The possibility of merger is, however, expected be high, despite NPS opposition.The NPS said on June 24 that its Special

On June 24, Samsung Electronics closed at 1.302 million won (US$1,173) per share in the stock market, losing 1.44 percent in a day and failing to continue to rise for the fifth consecutive trading session. During the session, its stock price reached as low as 1.291 million won (US$1,163) per share.T

Hyundai Engineering & Construction (Hyundai E&C) unveiled on June 24 that it has won a deal worth US$719 million to build a seawall and other facilities in East Timor.The deal was jointly won by Hyundai Engineering Company, another affiliate of Hyundai Motors Group. This is the first contract that t

On June 22nd, the Seoul Central District Court ordered Elliott’s legal representative, Nexus, to submit the original of a document that analyzes the value of Samsung C&T Corp. and Cheil Corp. The legitimacy of this document was called into question by Samsung C&T's legal team the day before. The

Tesla, a leader in the global electric vehicle (EV) industry, is building large-scale lithium-ion battery manufacturing facilities in Nevada with Panasonic. The plant is put into operation next year and its annual production capacity is to be increased to 50 GW in 2020. In the meantime, LG Chem and

Global automakers are focusing on producing lighter and more fuel-efficient vehicles by utilizing alternative materials such as aluminum, magnesium, and plastic. Steelmakers, in response, are trying to reduce the weight of their products so that their profits are not affected by the new trend in the

The shipbuilding industry is wary of a continuous decline in “newbuilding” prices. According to Morgan Stanley, the price is forecast to keep dropping until next year.The newbuilding price index went up from 126 to 140 between November 2012 and June last year. However, it has declined all the way si

SK Holdings and SK C&C will hold a general shareholders’ meeting on June 26 and decide whether or not they will grant permission for the merger in order to start as an integrated corporation. Even though there are variables, including the National Pension Service exercising their shareholder’s right

Daewoo Shipbuilding & Marine Engineering (DSME) could become the world’s number one in terms of the number of orders awarded. The company has already ranked first in terms of an accumulated order backlog among single dockyards and is closing the gap with Hyundai Heavy Industries, which is still numb

Korea Western Power (KOWEPO) announced on June 23 that Egbin Thermal Power Plant Unit 5, which is located in Lagos, Nigeria, has started normal operations after an overhaul.The Egbin Thermal Power Station is the largest power generating station in West Africa, with an installed capacity of 1320 MW c

The Korea Railroad Corporation (Korail) announced on June 23 that it has successfully completed a contract with the Pakistani National Logistics Cell (NLC), which was signed in July 2012, to repair and export second-hand diesel locomotives.The national railroad operator has delivered 10 used trains

Hyundai Motor Co. began constructing its fifth factory in China to meet the future demand for compact cars in the world’s largest auto market.Hyundai, which already started building its fourth plant in the Chinese city of Changzhou in April, announced its plan to construct a fifth plant in the south

Securities companies are adjusting their Q2 profit estimates for the Mobile Communications (MC) Division of LG Electronics one after another, as the performance of the flagship handset G4 is likely to be lower than expected.For instance, Daishin Securities and Korea Investment & Securities recently

GS Engineering & Construction announced on June 22 that it has won two contracts to build a plant and infrastructure at home and abroad, respectively. The deals amount to a total of 667.6 billion won (US$606.74 million).The 311.3 billion won (US$282.92 million) domestic project is ONE-Project, which

Samsung C&T claims that documentary evidence Elliott Management submitted for their litigation over a merger between Cheil Industries and itself was falsified.On June 21, Samsung C&T asked the Seoul Central District Court to tell the American hedge fund to submit the original document for evidence h

Daewoo Shipbuilding & Marine Engineering (President Chung Sung-rip) announced on June 17 that its new demand prediction platform and maintenance, repair & operation (MRO) services for ships was selected as a smart service pilot project using big data, which was proposed by the Ministry of Science, I

Duckshin Housing, the nation’s leading deck plate supplier, announced on June 22 that it has completed a plant for Duckshin Vina, its subsidiary in Vietnam, and started the full-fledged operation of production lines. It is the first in the nation’s deck plate industry and the first overseas producti

Global biopharmaceutical company Medytox has decided to build its manufacturing plant in Osong, North Chungcheong Province, and is expected to boost the regional economy.North Chungcheong Province announced on June 22 that it signed a contract with Medytox at the meeting room in the provincial gover

Lotte Engineering & Construction (E&C) Co. recently won a US$230 million (250 billion won) deal to build a gas-fired combined cycle power plant in Indonesia.The company held the contract signing ceremony on June 19 to build the Grati gas-fired combined cycle power plant at Indonesia's state-run