Samsung Heavy Industries wins order for 3 LNG carriers

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Samsung Heavy Industries wins order for 3 LNG carriers

Samsung Heavy Industries said yesterday it has secured a 664 billion won ($603 million) order to build three liquefied natural gas (LNG) carriers.

The world’s third-largest shipbuilder said the newly developed carriers are projected to transport shale gas that is produced in the United States to Asia. The company said it expects to win more orders as the Federal Energy Regulatory Commission in the United States approved the country’s shale gas export project, which needs about 90 ships to operate the business.

About 60 more ships are required, according to the company, which said it expects to win more than 30 shipbuilding contracts a year as the United States has expanded its gas export to Australia and East Africa.

Shinsegae Group to invest W11B into company for 5 years

Shinsegae Group, a major retail conglomerate, said yesterday it will inject 11 billion won into the company over the next five years to boost shared growth with its suppliers and SMEs.

The group signed an agreement with the Korean Commission for Corporate Partnership at the Korea Chamber of Commerce and Industry in Seoul yesterday. The group said that E-Mart, the nation’s largest discount chain, will provide 8.5 billion won, while Shinsegae Department Store will invest 2.5 billion won - the largest amount pledged in the local retail industry for the promotion of shared growth. Shinsegae Group said it aims to expand suppliers from 5,000 to 7,000 by 2024, while increasing jobs from 60,000 to 100,000.
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