Category: Manufacturing Machinery

  • DSME clinches shipbuilding order from Greece-based company

    DSME clinches shipbuilding order from Greece-based company

    Daewoo Shipbuilding and Marine Engineering (DSME) has clinched an order to build a 173,400-cubic-meter liquefied natural gas floating storage and regasification unit (LNG-FSRU) from Greece-based Maran Gas Maritime, a deal providing financial relief to Korea’s debt-ridden shipbuilder. Maran Gas Maritime is an affiliate of Greece’s largest shipping company Angelicoussis Shipping Group, and it is the […]

  • HHI to be separated into six businesses

    HHI to be separated into six businesses

    Hyundai Heavy Industries will be divided into six independent businesses, the company said Tuesday, in a major reshuffle to cut its debt and improve its financial health. The shipbuilder said it received approval from the executive board to separate the company into six businesses: shipbuilding, marine business and engine; oil and green energy; electronics; construction […]

  • Korea to invest 500 bln won to foster robot industry in coming 5 yrs

    Korea to invest 500 bln won to foster robot industry in coming 5 yrs

    South Korea will spend a total of 500 billion won ($450 million) in the coming five years to foster the robot industry as a new growth engine for Asia’s fourth-largest economy, the trade ministry here said Tuesday. “The robot industry has emerged as a new technology frontier that will give a fresh boost to the […]

  • Seoul shares end lower after BOJ's disappointing decision

    Seoul shares end lower after BOJ's disappointing decision

    South Korean shares closed lower Friday as investors remained cautious following the disappointing stimulus measures made by the Bank of Japan. The Korean won rose against the U.S. dollar. After choppy trading, the benchmark Korea Composite Stock Price Index lost 4.91 points, or 0.24 percent, to 2,016.19. Trade volume recorded 361.38 million shares worth 4.96 […]

  • Hyundai Mobis Q2 profit jumps 13% on SUV sales

    Hyundai Mobis Q2 profit jumps 13% on SUV sales

    [THE INVESTOR] Hyundai Mobis on July 28 said that it posted a 13 percent increase in second-quarter operating profit from a year earlier, thanks to favorable currency rates and improved supply to sport utility vehicles. South Korea’s largest automotive parts supplier affiliated with Hyundai Motor Group reported the April-June operating profit of 784.7 billion won […]

  • Korea to carry out feasibility study on port project in Egypt

    Korea to carry out feasibility study on port project in Egypt

    South Korea will conduct a feasibility study on redeveloping the historic port city of Alexandria in Egypt, the maritime affairs ministry here said Wednesday. The research will be into the technical feasibility of the development of the Egyptian seaport, along with detailed plans to raise funds, according to the Ministry of Oceans and Fisheries. Alexandria, […]

  • Hyundai Heavy signs US$40m robot supply deal

    Hyundai Heavy signs US$40m robot supply deal

    [THE INVESTOR] Hyundai Heavy Industries announced on July 12 that it signed a US$ 40 million robot supply contract with the Chinese subsidiary of Taiwanese display producer Chunghwa Picture Tubes. Under the contract, Hyundai Heavy will supply about 300 robots designed for transporting LCD glass panels. The robots will be deployed at CPTF Visual Display’s […]

  • LG Electronics to announce earnings guidance on July 8

    LG Electronics to announce earnings guidance on July 8

    THE INVESTOR] LG Electronics is expected to announce its second-quarter earnings guidance on July 8. Local analysts estimate the company’s operating profit to stand at about 594.7 billion won (US$517 million). The Korean tech giant started releasing its quarterly earnings guidance since the first quarter this year. Analyst say that despite the lukewarm sales of […]

  • Malibu Hybrid misses low-pollution certification

    Malibu Hybrid misses low-pollution certification

    [THE INVESTOR] GM Korea’s Malibu Hybrid has failed to obtain a low-pollution certification, making it ineligible for tax benefits on eco-friendly cars, government and industry sources. On July 3, GM Korea notified through its website that benefits for purchasing hybrid vehicles are not applied to the Malibu Hybrid. According to the Ministry of Environment, the […]

  • Drop in Korea's exports to China extends to record streak in May

    Drop in Korea's exports to China extends to record streak in May

    South Korea’s exports to China continued to shrink from a year earlier in May, tying the record streak of 11 months of decrease, industry data showed Thursday. Outbound shipments to China came to US$9.93 billion won last month, down 9.1 percent from the same month last year, according to the data from the Korea International […]