Samsung Electronics announced on Tuesday that it has begun its London Olympics promotion campaign. The promotion campaign sponsored by Samsung Electronics, which is the event’s official mobile telecom sponsor, will be held under the theme “Everyone’s Olympic Games.”The company also began the process of selecting the runners for the torch relay. Samsung Electronics plans to select young people from

Industry June 14, 2011

Korea Aerospace Industries on Monday held a reception marking the export of its T-50 trainer jets to Indonesia.The T-50 is the country’s first supersonic jet developed in collaboration with the U.S. defense giant Lockheed Martin. The project took 2 trillion won ($1.8 billion) and 13 years to produce the T-50.  T-50. (Korea Aerospace Industries)Under the $400 million contract, signed last month, wi

Industry June 13, 2011

Zhangjiagang Pohang Stainless Steel, a China-based stainless steel subsidiary of POSCO, on Monday completed the facility expansion project that pushes up its annual production capacity to 1 million metric tons.Located in Zhangjiagang, Jiangsu Province, Zhangjiagang Pohang Stainless Steel or ZPSS is 82.5 percent held by POSCO. The remaining 17.5 percent is held by China’s Shagang Group. POSCO also

Industry June 13, 2011

POSCO and its subsidiaries will aim to become “loved companies,” the companies announced in a ceremony Thursday.According to POSCO’s agenda, a loved company is one that satisfies all concerned parties including society, employees, clients, investors, suppliers and environment, while at the same time sharing cultural programs and company values with them. “The way forward for POSCO is (to become) a

Industry June 9, 2011

SK C&C will likely acquire shares to put brokerage house under chairman’s controlAs the deadline for complying with fair trade laws approaches, the IT services provider SK C&C appears likely to acquire SK Securities Co. shares held by other SK Holdings companies. Under the current Monopoly Regulation and Fair Trade Act, a non-financial holding company is unable to hold stakes in a financial compan

Industry June 9, 2011

City car sales rose to a new record during the first five months of the year, industry data showed Wednesday. According to the Korea Automobile Manufacturers Association, 75,495 units of city cars ― automobiles with engine displacements of up to 1 liter ― were sold here during the first five months of the year.Compared to the same period last year, the figure is an increase of 16.4 percent. In com

Industry June 8, 2011

(Left) Hyundai Heavy Industries CEO Lee Jai-seong(Right) Samsung Heavy Industries CEO Roh In-sikKorean shipbuilders dominate global market with Hyundai Heavy challenging SamsungThe competition in the market for drillships is heating up with Hyundai Heavy Industries Co. threatening Samsung Heavy Industries Co.’s dominance. As drillships represent something of a golden egg for shipbuilders, a drills

Industry June 8, 2011

Works on the country’s first plant for producing synthetic natural gas got underway at POSCO’s steelworks in Gwangyang, South Jeolla Province on Tuesday.Synthetic natural gas is a synthetic fuel with an identical composition to natural gas. It is produced by gasifying coal under high pressure and temperature.The plant is scheduled for completion at the end of 2013, and will be capable of producing

Industry June 7, 2011