[THE INVESTOR] Hanwha Defense Systems aims to increase its turnover more than four times to 2.3 trillion won (US$2.01 billion) in 10 years, the company announced on July 20. At a ceremony held in Changwon, South Gyeongsang Province, the firm stated a new vision of becoming a global defense industry leader that provides dependable total defense solution. Hanwha Defense states a new visionThis is the first initiative made public since the former Doosan Defense Systems & Technology was taken over b

[THE INVESTOR] Creditors, led by the state-run Korea Development Bank, plans on giving some breathing room to Hanjin Shipping to stay afloat, by extending the due date of its corporate rehabilitation program. KDB and other banks will convene a meeting sometime this week to extend the initial Aug. 4 deadline by a month for Hanjin Shipping, according to sources.  The move will help the ailing shipper to gain more time to improve its financial status to avoid court receivership. Earlier in May, the

[THE INVESTOR] Hyundai Elevator has signed a joint venture agreement with Turkey’s STFA Group in Istanbul on July 19 local time to launch its local operations, it announced on July 20. The Korean company has taken over 51 percent stake in the Turkish group’s subsidiary HMF Asansor and will launch Hyundai Elevator Turkey, aiming to develop the country as “the second home market” and make inroads into Europe as well.  Hyundai Elevator headqarter in Ichon“It will top the country’s market share and

[THE INVESTOR] Hyundai Heavy Industries has won an additional contract to supply two vacuum vessel sectors, the key component of the multibillion-dollar project International Thermonuclear Experimental Reactor, the company said on July 19. Under the US$101.6 million deal, HHI will build two of the nine vacuum vessel sectors (No.7 and 8) that make up the main body of the ITER, the world’s largest nuclear fusion machine being built in Cadarache, southern France. Each vacuum vessel sectors measures