New Delhi, April 20 (IANS) Lee Jae-yong, Executive Chairman of Samsung Electronics, on Monday took a selfie with Prime Minister Narendra Modi and South Korean President Lee Jae Myung, during a state luncheon at the company’s Noida facility.The gesture highlighted Samsung’s local manufacturing capabilities in India and came after the bilateral summit between the two leaders.Lee and Modi also interacted with business leaders from both countries, according to a statement from the South Korean p…
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Seoul, March 9 (IANS) South Korean companies are seeking responsive measures to cope with soaring international oil prices as turmoil in the Middle East continues, industry sources said on Monday, while the government called for efforts to stabilise domestic fuel prices.Major companies here, including Samsung Electronics Co., SK Group, Hyundai Motor and Hanwha Group, have held emergency meetings over the past few days to monitor the volatility in the global energy market and come up with ways to…
Seoul, March 8 (IANS) Unionised workers at Samsung Electronics are set to begin a vote later this week on whether to launch a strike, industry sources said on Sunday, amid controversy after a union warned that employees who refuse to participate in the walkout could face disadvantages.The company’s three largest unions, which represent a combined estimated 89,000 of the tech giant’s roughly 130,000 employees, will hold the vote from Monday through March 18 on whether to stage a general strike fo…
Seoul, Jan 23 (IANS) South Korean President Lee Jae Myung said Friday that public support is crucial for the government’s push for balanced regional growth, as it seeks to ease excessive concentration in the Seoul metropolitan area and foster new growth engines nationwide. Lee made the remarks as his administration is striving to develop five major regional hubs — the Seoul metropolitan area, the southeast, northeast, central and western regions — along with three special self-governing provin…
Seoul, Jan 19 (IANS) SK Bioscience Co, the biotech arm of South Korea’s SK Group, on Monday launched its new global research and development (R&D) centre west of Seoul to enhance the efficiency of its vaccine research, the company said.SK Bioscience officially began operations of its Global Research & Process Development (R&PD) Centre in Songdo, an international business district in the western port city of Incheon. The $255.7 million facility also serves as the company’s new headqua…
Seoul, Dec 30 (IANS) South Korean President Lee Jae Myung will make a State Visit to China early next week for summit talks with Chinese President Xi Jinping, Cheong Wa Dae said Tuesday, with the leaders expected to discuss ways to strengthen strategic cooperation and bilateral economic ties. Lee is scheduled to depart for Beijing on Sunday for summit talks with Xi. On next Tuesday, Lee will travel to Shanghai before returning home on Wednesday, presidential spokesperson Kang Yu-jung said in a b…
Seoul, Dec 29 (IANS) South Korea must move fast to secure global competitiveness in artificial intelligence (AI) through aggressive investments in 2026, the country’s leading business lobbies said on Monday, highlighting AI as a key growth sector for the nation.”In order to secure global-level competitiveness in the AI and green transformation sectors, it is essential to build the capability to pursue major investment projects swiftly,” Chey Tae-won, chairman of the Korea Chamber of Commerce and…
Seoul, Dec 29 (IANS) The antitrust regulator said on Monday it has decided to fine 48 furniture manufacturers and suppliers for allegedly colluding in bids for built-in furniture ordered by construction companies.The companies will be fined a combined 25 billion won (US$17.4 million) for colluding to predetermine winning bidders or bid prices between September 2013 and May 2022, according to the Fair Trade Commission (FTC), reports Yonhap news agency.The FTC said the collusion was widespread, oc…