Tag: madeinkorea

  • 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 […]

  • Finance minister vows efforts to contain Brexit uncertainties

    Finance minister vows efforts to contain Brexit uncertainties

    Korea’s finance minister pledged all-out efforts Monday to minimize the fallout from Britain’s recent decision to leave the European Union. “The government will thoroughly manage risks so as to help limit an increase in uncertainties sparked by Britain’s exit from the EU,” Yoo Il-ho told a joint press conference where he was joined by other […]

  • Doosan Heavy bags W220b deal

    Doosan Heavy bags W220b deal

    [THE INVESTOR] Korea’s top power equipment maker Doosan Heavy Industries & Construction said on June 27 that it has bagged a 220 billion-won (US$185 million) deal to build a desalination plant in Iran. Under the deal with the Iran-based Sazeh Sazan, the firm will construct the facility by October 2018. The Korean company will also […]

  • Korea-US FTA triples auto imports from US

    Korea-US FTA triples auto imports from US

    [THE INVESTOR] The number of automobiles imported from the US has more than tripled since the Korea-US free trade agreement took effect. According to local automotive industry data, the number of vehicles imported from the US went from 13,669 units in 2011 to 49,096 units in 2015, rising by a factor of 3.6. The Korea-US […]

  • Park calls for watertight crisis management system over Brexit

    Park calls for watertight crisis management system over Brexit

    President Park Geun-hye on Monday called on her government to maintain a “watertight” crisis management system to minimize the potential negative ramifications from Britain’s decision to leave the European Union. In her first public statement following last week’s referendum in Britain, Park also ordered the government to take “all necessary measures” to stabilize the local […]

  • Korea's terms of trade improves in May

    Korea's terms of trade improves in May

    South Korea’s terms of trade improved from a year earlier in May due to steeper declines in import prices compared to drops in export prices, central bank data showed Friday. The terms of trade index for products came to 101.73 last month, compared with 100.75 a year earlier, according to preliminary data from the Bank […]

  • N.K. claims success in ballistic missile test

    N.K. claims success in ballistic missile test

    North Korea on Thursday claimed its intermediate-range ballistic missile soared as high as 1,400 kilometers during Wednesday’s test, with its leader Kim Jong-un boasting the country now has the “overall, practical” ability to strike U.S. military bases throughout the Pacific. State media said the missile, formally Hwasong-10, or better known as Musudan, climbed 1,413.6 kilometers […]

  • 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 […]

  • Samsung unveils new budget tablet model

    Samsung unveils new budget tablet model

    amsung Electronics Co., South Korea’s top tech firm, released the updated version of its budget tablet series, the Galaxy Tab A, on Tuesday, saying it guarantees a better connection with entertainment. The Android-based “2016 Galaxy Tab A” features a 10.1-inch full HD-level display, a 1.6 GHz octa-core processor, 2GB of RAM and a microSD card […]

  • Bank deposits on rise despite record low interest rates

    Bank deposits on rise despite record low interest rates

    Deposits at South Korea’s major commercial banks grew at a fast clip last week despite significant cuts in interest rates paid by local banks following a rate cut by the central bank, market data showed Sunday. Outstanding deposits held by the country’s five major lenders gained over 10 trillion won ($8.52 billion) in just one […]