South Korean builder Daewoo Engineering & Construction and Vietnam’s NBX Green Park, an affiliate of YSL Group, signed a memorandum of understanding to jointly develop the Nam Binh Xuyen Green Park Industrial Zone located in Vinh Phuc, Vietnam, the companies said Thursday. The NBX Green Park Industrial zone is a large-scale real estate development project authorized by the Vietnamese government last year. The plot of land of nearly 300 hectares will include industrial and commercial

Korean CMO mulls building more labs overseas, open to M&A opportunities

Tech-savvy candidates preferred by businesses wanting to accelerate pandemic-triggered digitalization, says Manpower Korea

Authorities order reconstruction of collapsed apartment building after demolition

CEO says Genesis working on next EVs, watchers say it could be GV90

South Korea is expected to become the biggest investor in chip fabrication facilities this year, a global industry association said Thursday. According to SEMI, a global industry association representing the electronics manufacturing and design supply chain, South Korea is forecast to rank at the top of fab equipment spending this year, followed by Taiwan and China. Global fab equipment spending is predicted to increase 10 percent from last year to reach an all-time high of $98 billion, the SE

Genesis, the luxury brand of Hyundai Motor Co., said Thursday it targets a 10 percent on-year increase in sales this year spurred by new models. Genesis aims to sell 220,000 units globally this year, up from 200,000 sold last year, Hyundai Motor President and Chief Executive Chang Jae-hoon told reporters on the sidelines of the G90 sedan's launching event.  "Helped by improved product lineup and increased SUV models, Genesis already made it to the top 10 luxury brands, beating (Hon

BMW, Mercedes-Benz and two other companies will voluntarily recall more than 4,200 vehicles to fix faulty components, the transport ministry said Thursday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems with vehicle components. The four companies, including Audi-Volkswagen Korea and Porsche Korea, are recalling a combined 4,247 units of 12 different models, the Ministry of Land, Infrastructure and Transport said in a statement. The problems i

Korea’s top health and beauty retailer CJ Olive Young said Wednesday it aims to land a million customers overseas with the US and Canada being the target markets.  The firm said its online platform Olive Young Global, launched in 2019, now ships Korean beauty products to some 150 countries around the world. Over the past six months alone, sales from the platform posted an almost 20-fold surge, the firm said without offering specific figures. Membership also soared to some 300,000 use

South Korea’s top steel maker Posco said Wednesday that it has succeeded in producing neon, a rare gas mainly used for making chips, at its Gwangyang steel mill, becoming the first Korean firm to do so. “It is very meaningful to achieve the complete localization of neon, which was a long-cherished task in the industrial gas market, in cooperation with TEMC, a small but strong Korean company,” Vice President Yoo Byung-ok said during the ceremony. “Through ESG business

CATL, hit hardest by the cuts, likely to up the ante overseas, especially in Europe

Samsung Electronics dispatched chartered flights to Las Vegas to bring home some 20 staff members and executives who tested positive for COVID-19 at the CES 2022 trade show, according to industry sources Wednesday. The majority of the infected Samsung officials returned to South Korea late Tuesday night, while the remaining officials arrived around noon on Wednesday. Most of the officials reported minor or no symptoms. After arrival, they were transferred to a quarantine facility for medical

Posco, South Korea's top steelmaker, said Wednesday that it logged its largest earnings ever last year on the back of strong demand for key products and high prices. Its operating income stood at 9.2 trillion won ($7.73 billion) last year on a consolidated basis, compared with an operating profit of 2.4 trillion won a year earlier, the company said. Sales amounted to 76.4 trillion won, up 32.1 percent from a year earlier, it added. Posco showed a stellar performance in the second and third qu

European Union regulators are set to veto Hyundai Heavy Industries Co.'s proposed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering Co., citing monopoly issues, industry sources said Wednesday. Within this week, the EU's antitrust regulator will likely announce its decision to block the merger of the South Korean shipbuilders, arguing the tie-up could create a monopoly in the LNG ship market amid rising energy prices, a person familiar with the matter told Yonhap New

Biotech company’s share price jumps nearly 30 percent on the back of global license agreement