SEOUL, Jun. 7 (Korea Bizwire) — Hyundai Rotem Co., a South Korean railway system and plant equipment maker, said Friday its U.S. unit has received a 241.4 billion-won (US$175.8 million) order for double-deckers in the United States. Hyundai Rotem USA Corp. has obtained the order from the Massachusetts Bay Transportation Authority (MBTA), the company said [...]
SEJONG, Jun. 7 (Korea Bizwire) — A potential discovery of oil and gas reserves off South Korea’s East Sea is “highly prospective,” Vitor Abreu, the owner of the U.S. geoscience research company Act-Geo behind the project, said Friday, citing the presence of hydrocarbons in the offshore fields. “So to summarize … the basin is highly [...]
SEOUL, Jun. 6 (Korea Bizwire) –Domestic pharmaceutical firms in South Korea are increasingly joining forces with former competitors to develop new drugs, marking a shift in strategy. While co-marketing existing products or outsourcing manufacturing has been common practice, collaborations now extend to the realm of novel drug development. Last month, Ildong Pharmaceutical secured Dong-A Socio [...]
CHUNCHEON, Jun. 5 (Korea Bizwire) –A proposal to develop Camp Page, a 520,000 square meter former United States military base in the heart of Chuncheon, has sparked a bitter divide within the local community, pitting residents who support the project against those who demand a restart of the process. The site, which has remained largely [...]
SEOUL, Jun. 5 (Korea Bizwire) – The Conrad Seoul hotel in the Yeouido financial district has been sold for over 400 billion won, marking the largest single hotel transaction in South Korea this year, according to JLL, the global real estate services firm that advised on the deal. The sale represents the second-largest hotel transaction in [...]
SEOUL, Jun. 5 (Korea Bizwire) –Doosan Bobcat, a leading manufacturer of compact construction equipment, has inaugurated a new production facility dedicated to mini excavators at its Chennai plant, the company announced on June 5. After nine months of construction, Doosan Bobcat has completed an 11,300-square-meter mini excavator production line within the existing premises of its [...]
SEOUL, Jun. 5 (Korea Bizwire) –Hyundai Motor Company has introduced the 2025 Grandeur, a revamped version of its flagship sedan, the company announced on June 5. Since its debut in 1986, the Grandeur, once nicknamed the “executive car,” has been Hyundai’s signature sedan. Last year, it solidified its position as a best-selling vehicle in South [...]
SEOUL, June 5 (Korea Bizwire) – Samsung C&T Corporation has launched an outdoor robot delivery service catering to residents of Raemian apartments that makes use of the Dilly delivery robot. With just a click, the service fetches food and beverages from nearby stores and transports them directly to the apartment complex. The pilot program is currently [...]
SAN DIEGO, Jun. 4 (Korea Bizwire) – Samsung Biologics, a leading biopharmaceutical company, has unveiled a new platform and customized brand to strengthen its contract development and manufacturing organization (CDMO) capabilities in the biotech drug development arena. At the 2024 BIO International Convention in San Diego, the company introduced its new CDMO platform, S-Tensify, designed to [...]
SEOUL, Jun. 4 (Korea Bizwire) — The owner of U.S.-based geoscience research company Act-Geo said Tuesday he was traveling to South Korea to discuss Seoul’s newly envisioned offshore oil and gas exploration project on the east coast. On Monday, President Yoon Suk Yeol said South Korea will push to embark on the project in the [...]