[THE INVESTOR] China’s shipbuilding industry is expanding into cruise ships, while South Korean shipyards are held back by lack of experience. Only July 7, China Daily reported that China State Shipbuilding (CSSR) and Italian shipbuilder Fincantieri Cantieri Navali Italiana will establish a joint venture in Hong Kong. The JV will spend 25 billion yuan (US$3.74 billion) building five luxury cruise liners.The work will be carried out by Shanghai Waigaoqiao Shipbuilding, which has established a spe

[THE INVESTOR] Incheon International Airport, South Korea’s main international gateway, is facing an uphill battle to become Asia’s top air hub as its share of transit passengers continued to dip for three consecutive years. According to Incheon International Airport Corp., the number of transit passengers during the first half of the year stood at 3.58 million, which is a 4.1 percent drop from 3.74 million tallied during the same period last year.The statistics show that the number of stopover

[THE INVESTOR] LIG Nex1 will build an advanced weapons plant in Gimcheon, North Gyeongsang Province, the defense equipment maker said on July 7.A memorandum of understanding regarding the plans was signed with Gimcheon government. Under the plans, LIG Nex1 will complete the construction work by 2023.  Gimcheon Mayor Park Bo-saeng (left) and LIG Nex1 CEO Lee Hyo-koo hold up the memorandum of understanding at the signing ceremony held in Gimcheon, South Gyeongsang Province on July 7. LIG Nex1Accor

[THE INVESTOR] The Korean government on July 7 said that it will work with concerned organizations to ensure that Hanwha Q CELLS’ plant expansion project is completed on schedule. Hanwha Q CELLS, Hanwha Group’s solar power generation unit, is currently expanding its plant producing materials for solar panels in Jincheon, North Chungcheong Province. Although the project is due for completion in July 2017, the lack of infrastructure in the area is expected to pose hurdles. The expanded plant requi

[THE INVESTOR] A large entertainment complex that combines shopping, K-pop and children’s entertainment will be built in Uijeongbu, Gyeonggi Province, as part of the government’s investment-boosting drive. According to the plans revealed on July 7, the central government will support Uijeongbu’s plans that will see the construction of a 620,000-square-meter complex in the area just north of Seoul. The project is scheduled for completion in 2018, and 382.4 billion won (US$ 330.8 million) will be

[THE INVESTOR] The government will increase its support for R&D in steel, petrochemical and shipbuilding industries as part of its strategy to improve exports and investments. Key R&D areas specified in the plans, revealed on July 7, include that for developing lightweight steel for automobiles, developing plastics with structural strength matching that of steel, and developing eco-friendly ship-related technologies. Posco's Finex steel millFor the steelmaking industry, the government hopes that