JW Pharmaceutical announced on Nov. 13 that it has launched Euvipharm JSC, a wholly owned subsidiary in Long An Province, Vietnam, in a “New Challenge Day” ceremony.JW Pharmaceutical signed a deal in September to take over 100 percent of Euvipharm. This is the first time a Korean company acquired 10

With Korea’s vehicle output falling rapidly, the number of employees in the automobile industry declined by about 10,000 this year. That is, about 1,000 workers per month have left the industry. As the automobile industry, which is a foundation of the Korean manufacturing industry, undergoes a crisi

Incheon International Airport Corp. (IIAC) has organized an international seminar on navigational safety facilities.The theme of the 28th International Seminar on Aviation Safety Facilities held at the Grand Hyatt Incheon on Nov. 12 was how to build a Korean-style navigation system using innovative

Samsung Heavy Industries’ labor and management representatives have recently visited Malaysia together to attend an event organized by the company’s client. It is a stark contrast to situations at other Korean shipbuilders that are still suffering from labor conflicts.Nam Joon-woo, president of Sams

Korean shipbuilders regained first place in order receipt in October by sweeping 86 percent of the world's shipbuilding orders. Chinese shipbuilders took only 10 percent of the orders in October. Korean shipbuilders solidified their number one position in cumulative orders by October this year.G

Daewoo Engineering and Construction (E&C) announced on Nov. 12 that it has signed an agreement with Saipem, an Italian oil and gas industry contractor, to establish a strategic partnership in the global onshore oil and gas business, in particular, the LNG business.Under the agreement, the two compan

HDC Hyundai Development Co. took over Asiana Airlines by suggesting a price of approximately 2.4 trillion won whereas the other bidders suggested less than two trillion won. It is too early to pop the champagne though. HDC and its partner Mirae Asset Daewoo are supposed to deal with important issues

Korea’s electric vehicle (EV) exports for this year have more than doubled from those of 2018 as EV sales by Hyundai Motor Co. and Kia Motors Corp. are expanding in major markets such as the United States and the European Union.Korea’s EV exports amounted to US$2,566 million in the January-October p

Hanwha Aerospace president Shin Hyun-woo recently said that the company is mapping out a plan to build a third factory in Vietnam to make airplane engine parts for Rolls-Royce.The company has recently signed a contract with Rolls Royce, a global aviation engine manufacturer, to supply engine parts a

Korea Electric Power Corp. (KEPCO) and Korea East-West Power Co. (EWP) announced on Nov. 11 that they have signed a power sales contract with Guam Power Authority.Under the contract, a consortium formed by KEPCO and EWP will build and operate Ukudu 198 MW Combined Cycle Power Plant and sell the elec

POSCO Chemical announced on Nov. 11 that it has decided to invest 125.4 billion won in expanding its capacity to produce anode materials for secondary batteries. This is an investment for the second-phase expansion of the company's second anode material plant.POSCO Chemical has completed the fir

Hyundai Motor Group has developed the industry's first technology that can greatly reduce road noises.The automaker announced on Nov. 11 that it will apply the new technology, dubbed Road-noise Active Noise Control (RANC), to new Genesis models.RANC analyzes noises from roads in real time and ge

Cracks were reportedly found on 13 out of 150 Boeing 737 Next Generation (NG) planes operated by Korea’s airlines, prompting the Korean government to ban the operation of all the 737 models. Korean Air, and Jeju Air and other low-cost carriers (LCC) which are operating Boeing’s 737NG jets are likely

Korean Air CEO Woo Ki-hong said on Nov. 11 that the South Korean government’s excessive regulations and excessively customer-oriented policies led to the current issues related to Asiana Airlines.“Trade disputes between South Korea and Japan have deteriorated South Korean airlines’ business conditio

Korean producers of copper foil, an essential material for electrical vehicle (EV) batteries, have begun to expand production facilities in line with rising demand. However, as Korean battery makers have begun to expand their production facilities, copper foil supply may not be able to keep up with

POSCO International announced on Nov. 10 that it has signed a contract with McDermott of the United States on a basic design for the third-phase development of its Myanmar gas field.POSCO International selected two companies, Hyundai Heavy Industries and McDermott, in October as basic design compani

With the IMO 2020 sulphur regulations set to go into effect from next year, the price difference between bunker C oil, a type of residue oil, and gasoline, kerosene and diesel is widening. Demand for bunker C oil, a fuel with a high sulphur content, is sharply decreasing in the marine fuel market.Ac

Yuhan Corp. announced on Nov. 7 that it has signed a joint research agreement with Cyclica, a Canadian biotech company.Through the deal, the Korean company can use Cyclica's advanced artificial intelligence (AI)-based candidate discovery platform. It is expected to be able to secure new drug can

Hyosung Group chairman Cho Hyun-jun met Mexican President Andres Manuel Lopez Obrador to discuss business cooperation. Hyosung TNS landed an order for 8,000 units of automated teller machine (ATM) needed for the Mexican government's “Rural ATM Project.”Cho thanked President Obrador for giving Hy

The sale of Asiana Airlines is expected to be a competition between the Aekyung and HDC Hyundai Development Company consortiums as the KCGI-BankerStreet PE consortium failed to find a strategic investor. Aekyung’s consortium partners are Stonebridge Capital and Korea Investment & Securities while HD