Samsung C&T Corp., the construction unit of Samsung Group, said Friday it has won a $604 million ($448) deal to build a section of Singapore's Mass Rapid Transit (MRT) system. Under the deal with the Land Transport Authority, Samsung C&T will build Hougang interchange station and tunnels for the Cross Island Line, the city state's eighth MRT line. The Land Transport Authority said the deal also covers the construction of additional and alteration works to the existing Hougang station a

Daewoo Shipbuilding & Marine Engineering said Friday it launched a shipyard simulation system based on a game engine for optimized operations. According to DSME, it utilized the Unity game engine and constructed a 3D version of its actual shipyard. Inside the simulated space, DSME developed an algorithm that provides optimized transporter routes and block assembly. DSME aims to further advance the simulation system by applying cloud computing and machine learning technologies. Also, th

South Korea's two major automotive light-emitting diode (LED) makers saw their revenues increase last year despite an overall market slump amid the pandemic, a report showed Friday. Seoul Semiconductor Co. and Samsung Electronics Co. maintained their status as the world's fifth- and seventh-largest automotive LED suppliers, respectively, in 2020, but their market shares and sales grew, according to market researcher TrendForce. Seoul Semiconductor's revenue jumped 3.2 percent to $130 million

South Korean power plant builder Doosan Heavy Industries & Construction Co. said Friday it has completed the construction of its second plant for wind power generators in the country. The plant in Changwon, 398 kilometers southeast of Seoul, will assemble and test 5.5-megawatt wind power generators, Doosan Heavy said. With the plant, Doosan Heavy will be able to produce 30 wind power generators annually, the company said. With its wind power business starting in 2005, Doosan Heavy has b

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Friday it has clinched a 637 billion-won ($562 million) order from a Taiwanese company to build five container carriers. The deal signed with Wan Hai Lines calls for Korea Shipbuilding to start delivering the 13,200-twenty foot equivalent unit (TEU) vessels in the first half of 2023, Korea Shipbuilding said in a regulatory filing. The container carriers will be built by Hyundai Heavy Industries Co., the company said. Hopes for a

Samsung Heavy Industries Co. said Friday it has obtained a 2.8 trillion-won ($2.5 billion) order from a Panamanian company to build 20 container carriers. Under the deal, Samsung Heavy Industries will deliver the 15,000-TEU vessels, on which energy saving devices will be mounted, by June 2025, the shipbuilder said in a regulatory filing. Samsung Heavy Industries has won a combined $5.1 billion in orders to build 42 ships so far this year, achieving 65 percent of its annual order target of $7.8

Samsung Electronics Co. said Friday it has developed a new System-on-a-Chip (SoC) that can improve the performance of 5G networks in collaboration with US chip designer Marvell Technology Ltd. The South Korean tech giant said the new SoC will be used in the company's network equipment, such as massive multiple-input multiple-output (MIMO) and other radios, and plans to introduce the product in the second quarter of the year. An SoC refers to an integrated circuit that integrates entire or most

Samsung Display Co. dominated the global smartphone display panel market last year, a report showed Friday, as it posted record revenue amid the pandemic. The affiliate of Samsung Electronics Co., the world's largest smartphone producer, represented half of the worldwide smartphone panel market last year in terms of revenue, according to market researcher Strategy Analytics. The global smartphone display panel market grew 7 percent on-year to $43 billion in 2020. Samsung Display was follow

　China’s imports of South Korean products last year stayed nearly the same as the previous year despite the novel coronavirus pandemic, a report showed, as the world’s second-largest economy bought more consumer goods like cosmetics. 　China imported $173.5 billion worth of goods from South Korea in 2020, only 0.03 percent down from 2019, according to the report from the Korea Trade-Investment Promotion Agency. 　China spent $10 million or more on each of 59 items from South Ko

Intel’s plan to reenter the foundry business could be an indication of reshoring chip manufacturing back to the US, a key strategic move that would have ramifications on the local economy, which depends largely on chip sales. After announcing the plan to spend $20 billion on building two new fabrication plants in Arizona, Intel CEO Pat Gelsinger told BBC, “Having 80 percent of all supply in Asia simply isn’t a palatable manner for the world to have its view of the most crit

Shin Hak-cheol, chief executive and vice chairman of LG Chem, on Thursday vowed to get proper compensation from SK Innovation for stealing its battery technologies. “We can’t easily let go of this case for the general good of global companies that are developing technologies on the belief of fair competition and clients who make purchases on the belief they were lawfully made,” Shin said at the company’s general shareholders meeting held at the headquarters building in

GC Wellbeing announced Thursday that GCWB204, its new drug material for treating cancer cachexia, has shown efficacy in preventing muscle reduction. GC Wellbeing, jointly with the convergence medical team led by professor Woo Dong-cheol of Asan Medical Center, published the results of the research in global academic journal Metabolomics, according to the company. The joint research team focused on analyzing the effects of GCWB204 on main biomarkers from animal samples that underwent muscle

Jailed tycoon, refusing to accept special treatment, said to have put up with pain, delaying diagnosis

SK Innovation took a CT scan of LG Energy Solution’s electric vehicle batteries in a potential attempt to use it in its legal dispute with the local rival, industry sources told The Korea Herald. SK Innovation requested a research facility in South Korea to take CT images of its own batteries and LG Energy Solution’s. This was while their battery trade secret case was ongoing in the US. “SK Innovation took the images to compare the inner structures of its pouch-type batte

South Korea will nurture the local industry for next-generation power chips as a new strategic investment for future chip leadership, the government said Thursday. At the seventh meeting on innovative growth, the Ministry of Trade, Industry and Energy unveiled a blueprint that contains measures to establish an ecosystem for next-generation power chips ranging from key technologies to product development and mass production. Built to handle high voltages and large currents without damage, p