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Harim Selected as Preferred Bidder for South Korea's Largest Shipping Company HMM

Harim Selected as Preferred Bidder for South Korea's Largest Shipping Company HMM

In a significant development for South Korea's shipping industry, Harim Group Consortium has been chosen as the preferred bidder for acquiring HMM (formerly Hyundai Merchant Marine), the country's largest shipping company. This move paves the way for the formation of a mega national shipping line, equipped

Why Are Busan's Department Stores Transforming into Mixed-Use Complexes?

Why Are Busan's Department Stores Transforming into Mixed-Use Complexes?

In recent years, the city of Busan has witnessed a significant shift in its urban landscape. Prominent department stores and shopping malls, once the epicenter of retail activity, are increasingly being transformed into mixed-use developments. This trend reflects a broader move toward integrating residential, commercial, and recreational spaces within single

South Korea's Shipbuilding Renaissance Faces Workforce Challenges

South Korea's Shipbuilding Renaissance Faces Workforce Challenges

South Korea's shipbuilding giants are riding the wave of a resurgent industry, amassing significant orders throughout the year. However, the surge has illuminated a significant workforce gap, raising concerns about their ability to fulfill the booming demand in the long run. According to Clarksons Research, a UK-based shipping

Surge in Japanese Steel Imports Stirs Concerns in South Korea

Surge in Japanese Steel Imports Stirs Concerns in South Korea

SEOUL — Recent data reveals a significant influx of high-quality, hot-rolled steel plates from Japanese steel companies into the South Korean market, igniting concerns about the stability of the domestic steel industry. With a devalued yen in play, Japan's steel exports to Korea have surged, offering both quality and

BNK Kyongnam Bank Embezzlement Scandal: The Largest in Korean Financial History

BNK Kyongnam Bank Embezzlement Scandal: The Largest in Korean Financial History

In a startling revelation, the Financial Supervisory Service (FSS) announced that the recent real estate project financing (PF) scandal involving BNK Kyongnam Bank has reached a staggering 298.8 billion won ($224 million). This marks the most substantial embezzlement in the annals of the Korean financial market, surpassing the previous

Evergrande's Economic Quake: China's Property Crisis Spills Over Borders

Evergrande's Economic Quake: China's Property Crisis Spills Over Borders

In a dramatic turn of events, China's property titan, Evergrande Group, once hailed as the country's second-largest developer, lodged a bankruptcy petition in New York on Thursday. This move traces back to the severe debt crisis the company faced in 2021, which has since rippled across

South Korea’s Semiconductor Cluster Dilemma

South Korea’s Semiconductor Cluster Dilemma

South Korea, as a powerhouse in the global semiconductor industry, has recently launched an ambitious project, the "semiconductor cluster," set to invigorate its leadership position. A total of 120 trillion won will be invested in this project over the next decade, aiming to establish specialized industrial parks for