Daewoo International Corp. said Sunday it has begun infrastructure work for a gas project in Myanmar after completing drilling and production tests. The Korean resources developer will establish seabed platforms, onshore terminals and pipelines at two offshore fields in the Southeast Asian country in collaboration with Hyundai Heavy Industries Co., aiming to begin production in May 2013. “The p...

Samsung Electronics Co. made a proposal to Apple Inc. to resolve their patent dispute in Australia regarding touch-screen technology, a Sydney court was told Sept. 30. Samsung lawyer David Catterns didn’t give details about the proposal, and Apple will need time to consider it, Apple lawyer Steven Burley told the court. Catterns’s proposal is a bid to end the last dispute over patent technology...

Weak demand from overseas and continued stock exodus to bring current account down further An increasingly worse outlook for Korea’s major trading partners is throwing more doubt on the debt and inflation-saddled economy. Analysts expect the current account surplus to continue shrinking as demand drops this month and losses on stocks mount. “Growth outlook in the U.S. and other advanced econom...

Ssangyong Engineering and Construction Co. announced Sunday that it has won a $57.8 million contract to build part of a condominium complex in Vietnam. Under the contract, issued by a subsidiary of the Singaporean real estate developer Keppel Land, Ssangyong E&C will build three of the 12 residential buildings in the Riviera Point Condominium complex in Ho Chi Minh City in southern Vietnam. Ssa...

Local condiment maker Sempio Foods Co. said Friday it would unveil its soy sauce cotton candy on Sunday. In Japan, ice cream and candies that use soy sauce have already been enjoyed. But it is the first time in the world that cotton candy has been made of soy sauce, the company said. Based on the idea that saltiness adds sweetness in flavor, Sempio, best known for its soy sauce products, starte...

Major department stores on Friday expressed concerns about antitrust authorities’ inspections into their shared-growth efforts with smaller businesses that could start as early as on Oct. 4. Early last month, the Fair Trade Commission reached an agreement with 12 department stores, supermarket chains and home-shopping channels to lower their commission fees by 3 to 7 percent from October. Start...

The Korea Consumer Agency on Friday urged Koreans to refrain from using humidifier sterilizers, which have been blamed for mysterious deaths of five infants and a pregnant woman. The Korea Centers for Disease Control and Prevention is looking into 28 cases of lung disease with an unidentified cause that occurred at a university-affiliated hospital in Seoul since 2004. Many of them were reported ...