Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
3
Korean language teaching expert says demand has outstripped supply
-
4
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
5
Conscripting women to lead to 'more babies,' claims military think tank
-
6
Who is pollster roiling politics with claims of government string-pulling?
-
7
Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
-
8
Taking away phones during school hours not a human rights violation: watchdog
-
9
Korea launches antidumping probe into Chinese steel
-
10
[Grace Kao] Why K-pop lip-syncing doesn’t bother me
-
Refiners' H1 exports hit all-time high of $27.95b on higher oil prices, demand recovery
The exports of petroleum products by major refiners in South Korea hit a record high of $27.95 billion in the first half of this year on the back of higher oil prices and strong demand recovery amid eased COVID-19 restrictions, data showed Tuesday. The outbound shipments by SK Energy Co., GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Co. represent a 97.6 percent increase from a year earlier and surpassed the previous record high of $27.7 billion in 2012, according to a latest report by the Ko
July 26, 2022
-
LG Energy Solution joins hands with Huayou Cobalt to build battery recycling plant
LG Energy Solution Ltd. (LGES) said Tuesday it has signed a joint venture agreement with a Chinese mining company to build a battery recycling plant to secure raw materials for lithium-ion battery components. The joint venture deal with Zhejiang Huayou Cobalt Co. will commit the two companies to build two factories to extract nickel, cobalt and lithium -- key components for lithium-ion batteries used in electric vehicles -- from scrap batteries and used batteries, the South Korean battery maker
July 26, 2022
-
Daewoo E&C develops property technology for work efficiency, customer satisfaction
South Korean company Daewoo Engineering & Construction will apply property technology it has developed to its construction procedures to optimize work efficiency and customer satisfaction, according to the company on Monday. Property technology is currently recognized as a game changer in the real estate market, utilizing the latest technologies such as big data, artificial intelligence and virtual reality to carry out real estate-related work more efficiently. Daewoo E&C’s pro
July 25, 2022
-
AmCham resumes Washington Doorknock program
The American Chamber of Commerce in Korea will resume the “Doorknock” program this year after a three-year hiatus caused by the COVID-19 pandemic, it said Monday. AmCham’s delegation of top-level executives, including AmCham Chairman and CEO James Kim, will be in Washington D.C. from this Wednesday to Friday to meet with key figures of the Biden Administration and Congress, it added. The delegation has secured more than 25 senior-level meetings with officials from various sec
July 25, 2022
-
GS E&C stresses green tech projects in sustainability report
GS Engineering and Construction said Monday it has released its annual sustainability report for 2022, introducing its environmental, social and corporate governance-related activities. In the report, the South Korean builder said it had launched its Research Institute for Future Technology in March. Through its continued investment in future technology, GS E&C said it had developed water saving, biogas facility modulation, carbon dioxide to hydrogen conversion, and eco-friendly water desal
July 25, 2022
-
Samsung Card's net rises 12 pct in H1 on increased consumer spending
Samsung Card Co., a major South Korean credit card firm, said Monday its net profit increased in the first half of this year, helped by recovery in consumer sentiment amid the pandemic. Samsung Card's consolidated net profit stood at 315.9 billion won ($241 million) in the January-June period, up 12 percent from a year earlier, according to the firm's regulatory filing. Operating profit increased 12.1 percent to 426.1 billion won, with sales revenue rising 10 percent to 1.94 trillion w
July 25, 2022
-
Korea’s postal chief attends alliance meeting in Spain
Korea Post chief Son Seung-hyun, attended the Kahala Post Group chief executive officers meeting held in Madrid on Thursday, the nation’s postal service provider said. The Kahala Post Group is an international alliance of postal administrations created in 2002 to promote international mail delivery and to carry out strategic projects. It currently has 11 member states. The effects of COVID-19 on international mail, and methods to improve its quality were discussed at the meeting, said K
July 25, 2022
-
Citibank Korea shares currency solutions for corporate clients
Citigroup’s Korean unit Citibank Korea shared its foreign exchange solutions and outlook on the global economy at the Economic Outlook and Market Solutions Seminar held in Seoul on Wednesday. The seminar aimed to have specialists give their latest outlook on the volatile global economy and foreign exchange markets to improve its corporate clients using its global market platforms. Some 20 chief executive officers and finance heads of major multinational companies participated in the ev
July 24, 2022
-
Posco shifts to emergency mode over potential global recession
South Korean steel giant Posco Group has put itself on an emergency management footing, its holding company said Sunday, as business units across the group brace for weaker profits amid an expected slowdown of the global economy. The decision came in a Thursday meeting of Chairman Choi Jeong-woo and other top executives of Posco Group, Posco Holdings Inc. said. Posco Holdings said the group's top executives reviewed risk factors for each major businesses unit, such as steel, infrastructure,
July 24, 2022
-
Hyundai, Kia record robust sales growth in Vietnam, Indonesia in H1: associations
Hyundai Motor Co. and its affiliate Kia Corp. recorded robust on-year sales growth in Vietnam and Indonesia in the first half of 2022, delivering strong performances in the markets traditionally dominated by Japanese automakers, local industry associations' data showed Sunday. The combined sales of Hyundai Thanh Cong Manufacturing Vietnam and THACO Kia -- the South Korean automakers' joint ventures in Vietnam -- reached 71,882 in the January-June period, up 29.3 percent from a year ago
July 24, 2022
-
Asiana resumes Incheon-Beijing route after 2 years
Asiana Airlines Inc., South Korea's second-biggest carrier, resumed its Incheon-Beijing route Saturday after suspending it for more than two years due to the COVID-19 pandemic. An Asiana plane carrying 141 passengers left Incheon International Airport in the morning and arrived at Beijing Capital International Airport, the company said. Before the pandemic, the Incheon-Beijing route was a key route between the two countries used by some 1.1 million passengers annually. It was suspended
July 23, 2022
-
AmCham welcomes Yoon’s policy to expand corporate tax breaks
The American Chamber of Commerce in Korea on Friday welcomed the Yoon Suk-yeol administration’s policy to expand corporate tax breaks, which are aimed at promoting active investments and job creation. “AmCham greatly appreciates the willingness of the Korean Government to listen and promptly respond to the concerns and recommendations of AmCham and the foreign business community,” Chairman and CEO of AmCham Korea James Kim said in a statement. “I also appreciate that th
July 22, 2022
-
DSME creditor warns of bankruptcy over shipyard strike
Daewoo Shipbuilding & Marine Engineering may face a court-ordered rehabilitation process unless action is taken on a monthlong strike there, the company’s main creditor Korea Development Bank said Friday. “It would be more difficult for DSME to repay its debts as the strike drags on … we’re not going to help the builder unless it gets back to work,” an executive at the state-run bank said, suggesting that the country’s third-largest shipbuilder would hav
July 22, 2022
-
SK On, Ford, ECOPRO to jointly invest in US cathode facility
South Korean battery maker SK On Co. said Friday it has partnered with Ford Motor Co. and a domestic cathode firm to jointly invest in a cathode materials production facility in the United States. SK On said it has recently signed a letter of intent with Ford and ECOPRO BM Co. to start the construction of the plant in late 2023. The three companies have yet to decide on the ratio of their investments and the plant site. The cathode materials to be produced in the plant will be supplied to BlueOv
July 22, 2022
-
LG Energy Solution to supply more batteries to Ford
South Korean battery maker LG Energy Solution is poised to bolster business cooperation with US carmaker Ford. LG Energy Solution said Friday that it would provide more batteries for Ford, which has recently seen growing demand for its electric vehicles, such as the Mustang Mach-E and E-Transit. The battery maker has been supplying batteries for these two models since the second half of 2020. To supply more batteries to Ford, the battery maker will double its battery assembly lines in its bat
July 22, 2022
-
Samsung weighs building 11 more chip plants in US over next two decades
Samsung Electronics Co. floated an idea of investing nearly $200 billion to build 11 more chip plants in the United States over the next two decades, documents filed with the state of Texas showed Friday. The proposed investment is described in South Korean tech giant's applications filed with the Taylor and Manor school districts, seeking tax breaks for the potential construction of 11 new chip fabrication facilities in the state -- nine in Taylor and two in Austin. Samsung already has a g
July 22, 2022
-
Tale of 2 tournaments for S. Korea at East Asian football competition
After only one match each, the ongoing East Asian football competition has been a tale of two tournaments for the South Korean men's and women's teams. The women's team, coached by Colin Bell, suffered a 2-1 loss to Japan to open the East Asian Football Federation (EAFF) E-1 Football Championship in Japan on Tuesday. With that, hopes of ending a 17-year title drought at the EAFF event all but evaporated. The men's side, with Paulo Bento in charge, blanked China 3-0 in their f
July 22, 2022
-
Hyundai Mobis Q2 net income up 15% to W769.7b
Hyundai Mobis Co., South Korea's leading auto parts maker, said Friday its second-quarter net profit rose 15 percent from a year earlier on shareholding gains from its affiliates. Net profit for the three months ended in June climbed to 769.7 billion won ($587 million) from 669.6 billion won in the same period of last year, the company said in a statement. "Equity gains from affiliate Hyundai Motor Co. gave a boost to the bottom line in this past quarter," a company spokesman said
July 22, 2022
-
NCSoft’s Universe attracts with its exclusivity
Online game developer NCSoft’s K-pop fan community platform Universe is garnering attention with its exclusivity and communicative functions, the company said Thursday. Launched last January, Universe is currently functioning as a global K-pop fandom platform where fans can watch original content starring their favorite artists and communicate directly with them. Universe provides a variety of exclusive features such as web entertainment shows, music videos and audio for its users. As o
July 21, 2022
-
Samsung SDI to invest W1.7tr in 2nd plant in Malaysia
Samsung SDI held a ground-breaking ceremony on Thursday for its new cylindrical battery-making plant in Malaysia. The company will invest 1.7 trillion won ($1.3 billion) in the new battery factory to have its construction finished by 2025 in response to the growing demand for cylindrical batteries. Starting from 2024, a year before the factory’s scheduled completion, the battery maker will manufacture cylindrical batteries known as 21700, which are a 21-millimeter-wide and 70-millimeter-
July 21, 2022