Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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S. Korea, Singapore seal supply chain agreement
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Netflix, streaming platforms come under fire for loose ratings
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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K-pop CEOs sidestep key issues at National Assembly audit
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Kia Q3 net jumps on base effect, chip woes remain
Kia Corp., South Korea's second-biggest carmaker, said Wednesday its third-quarter net profit rose sharply due to a lack of one-off costs, but chip shortages remain a major concern for the carmaker. Net profit for the three months ended in September jumped more than eightfold to 1.135 trillion won ($970 million) from a net profit of 133.68 billion won in the year-ago period. Operating profit jumped more than six times to 1.327 trillion won in the third quarter from 195.23 billion won a year a
Oct. 27, 2021
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Oci Q3 net income up 2829.7% to W177.6b
Oci Co. on Wednesday reported its third-quarter net profit of 177.6 billion won ($151.8 million), up 2829.7 percent from a year earlier. The company said in a regulatory filing that it posted 194.6 billion won in operating profit for the quarter, compared with 18.1 billion won a year ago. Sales rose 89.9 percent to 888.7 billion won. (Yonhap)
Oct. 27, 2021
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Samsung Electro-Mechanics Q3 net profit up 47.3% to W353.5b
Samsung Electro-Mechanics Co. on Wednesday reported its third-quarter net income of 353.5 billion won ($302 million), up 47.3 percent from a year earlier. The company said in a regulatory filing that it posted 457.8 billion won in operating profit for the quarter, compared with 307.4 billion won a year ago. Revenue rose 20.6 percent to 2.68 trillion won. The operating profit was 5.6 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of
Oct. 27, 2021
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8 Harim affiliates fined W3.8b for providing undue biz favors to Orpum
South Korea's antitrust regulator said Wednesday it has imposed a combined fine of 3.8 billion won ($3.3 million) on eight affiliates of Harim Co. for providing undue business favors to Orpum Co., wholly owned by the poultry-processing firm. Those affiliates, including Farmsco, Sunjin, Jeilfeed and other livestock companies, had provided "excessive economic profits" to Orpum by purchasing livestock-related drugs solely from the Harim subsidiary at higher prices than the market price f
Oct. 27, 2021
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Number of women execs at major firms tops 300 this year
The number of female executives at South Korea's top 100 firms increased in 2021 from a year earlier to surpass the 300 mark for the first time, data showed Wednesday. Those leading companies in Asia's fourth-largest economy had a combined 322 women executives as of end-June this year, up 36 from last year, according to the data from local headhunter UnicoSearch. The figure accounts for 4.83 percent of all high-level seats offered by the major companies. The number of those firms' female exec
Oct. 27, 2021
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Chiefs of Samsung SDI, Stellantis meet in Hungary following US battery plant deal
The chiefs of South Korean battery maker Samsung SDI Co. and global automaker Stallantis N.V. have met in Hungary, company officials said Wednesday, days after announcing a partnership to build an electric vehicle (EV) battery plant in the United States. The meeting between Samsung SDI CEO Jun Young-hyun and Carlos Tavares, CEO of Stellantis, came after the two companies announced a plan to jointly build an EV battery plant in the US, with the production to begin in the first half of 2025. It
Oct. 27, 2021
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Hyundai-Rotem Q3 net profit up 36.3% to W6.2b
Hyundai-Rotem Co. on Wednesday reported its third-quarter net income of 6.2 billion won ($5.3 million), up 36.3 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period fell 74.6 percent on-year to 7.9 billion won. Revenue increased 2.5 percent to 710.4 billion won. The operating profit was 70.1 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The es
Oct. 27, 2021
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Korea Zinc Inc Q3 net profit up 17.5% to W200.3b
Korea Zinc Inc. on Wednesday reported its third-quarter net profit of 200.3 billion won ($171.6 million), up 17.5 percent from a year earlier. The company said in a regulatory filing that operating profit for the July-September period fell 0.6 percent on-year to 265.8 billion won. Revenue increased 22.2 percent to 2.41 trillion won. The operating profit was 1.3 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The
Oct. 27, 2021
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Pan Ocean Q3 net income up 325.2% to W179b
Pan Ocean Co. on Wednesday reported its third-quarter net income of 179 billion won ($153.4 million), up 325.2 percent from a year earlier. The company said in a regulatory filing that operating profit for the July-September period rose 204.1 percent on-year to 191.3 billion won. Revenue increased 109.4 percent to 1.32 trillion won. The operating profit was 21.5 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. T
Oct. 27, 2021
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Samsung SDS Q3 net profit up 23.9% to W199.4b
Samsung SDS Co. on Wednesday reported its third-quarter net profit of 199.4 billion won ($170.8 million), up 23.9 percent from a year earlier. The company said in a regulatory filing that it posted 222 billion won in operating profit for the quarter, compared with 219.8 billion won a year ago. Sales rose 13.9 percent to 3.38 trillion won. The operating profit was 3.8 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agenc
Oct. 27, 2021
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Samsung to quickly finalize US fab investment: vice chairman
Samsung Electronics Co. will quickly decide on a foundry investment in the United States, a senior executive said Tuesday, as the South Korean tech giant seeks to become the world's No. 1 player in the logic chip and foundry sectors. Samsung Electronics, the world's No. 2 foundry firm behind Taiwan's TSMC, announced in May that it will build a $17 billion fab in the US Samsung's de facto leader Lee Jae-yong is widely speculated to visit the US, possibly next month, to finalize the site, with t
Oct. 26, 2021
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[KH Biz Forum] Forum maps out path forward for Korea post-pandemic
South Korean business representatives, policymakers and government officials gathered at the fourth Korea Herald Biz Forum on Tuesday to share insights on new trends of industries in the post-COVID-19 era. Under the theme “Shape of the Future: Trends to Rule Industries as World Rebounds from Pandemic,” this year’s forum was held at The Shilla Seoul and was livestreamed due to the COVID-19 pandemic. Among the speakers of the event were Lee Jeong-dong, professor of technolo
Oct. 26, 2021
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[KH Biz Forum] New business opportunity in metaverse imminent: SKT VP
The contactless trend in the COVID-19 era and development of digital technologies have accelerated the advent of the metaverse, opening up a new market with limitless business opportunities. People will spend more time in three-dimensional virtual spaces than they do on the two-dimensional internet, said Jeon Jin-soo, vice president of SK Telecom who is leading the firm’s venture into the metaverse world. “Metaverse is the next internet platform. All 2D information wil
Oct. 26, 2021
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Korea, US to set up hotline for semiconductor cooperation
Seoul and Washington have agreed to set up a hotline to discuss cooperation for the stable supply of semiconductors, and raised the level of an existing dialogue channel for industrial cooperation amid a worldwide shortage of chips. The South Korean government also repeatedly expressed concern over a recent US request for Samsung Electronics as well as other global chipmakers to provide information on their supply chains by Nov. 8, the Ministry of Trade, Industry and Energy said Tuesday. Seoul
Oct. 26, 2021
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[KH Biz Forum] COVID-19 is an opportunity and Korea better take it: National Assembly Speaker
National Assembly Speaker Park Byeong-seug said Tuesday that the global digital and green transformation triggered by the pandemic is a necessary growing pain for South Korea to join the post-COVID world order. In his congratulatory speech delivered at the fourth Korea Herald Biz Forum held at the Shilla Seoul under the theme “Shape of the Future: Trends to rule industries as world rebounds from the pandemic,” the speaker called for business executives, policymakers and opinion l
Oct. 26, 2021
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[KH Biz Forum] ‘Alternative energy alone won’t solve climate problem’
The world is talking about green energy to slash emissions and curb climate change. But without a drastic cut in the consumption of plastic and other waste, a net-zero economy just won’t happen, an environmental expert urged Tuesday. Speaking at the fourth Korea Herald Biz Forum on Tuesday, Hong Su-yeol, head of Resource Recycle Consulting, said the world needs to transition to a circular economy in which resources are used again and again in a closed loop and create no waste at all. &
Oct. 26, 2021
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[KH Biz Forum] Tech sovereignty ‘crucial’ in post-pandemic era
Technology plays a key role in a nation’s economic security, which is gaining ground as a new force behind the shifting world order, Seoul National University professor Lee Jeong-dong said Tuesday. “Defending a country was the basic concept of military security. However, with supply chains spanning across the globe now, it is only possible with economic security. And at the core of economic security is technological sovereignty,” said Lee, speaking at the fourth Korea Herald
Oct. 26, 2021
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ADT Caps renamed SK shieldus
ADT Caps Co., a security subsidiary of SK Telecom, said Tuesday it has changed its name to SK shieldus as it seeks to transform into a "life care platform" beyond a physical security service provider. CEO Park Jin-hyo said at an online conference that the company's goal is to increase sales in new growth industries, such as cloud computing and artificial intelligence, by fivefold by 2025. Park added that the firm aims to "change the existing business structure currently focused
Oct. 26, 2021
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Biz leaders of S. Korea, Japan to hold conference on economic cooperation
Business leaders of South Korea and Japan will hold an annual conference next week to discuss economic cooperation amid the prolonged chill in bilateral relations of the two countries. The 53rd conference, to be hosted by the Korea-Japan Economic Association, will take place via video links in Seoul and Tokyo next Tuesday, under the theme of "a future that Korea and Japan create together," according to the association. The event has been held every year since 1969 to discuss efforts
Oct. 26, 2021
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S. Korean oil refiners log increase in exports on reviving global demand
South Korean oil refiners posted the first on-year, third-quarter increase in exports in about 18 months, data showed Tuesday, on the back of reviving global demand amid an easing of COVID-19 pandemic curbs. The combined shipments of oil and petroleum products by SK Energy Co., GS Caltex Co. S-Oil Corp. and Hyundai Oilbank Co., reached 111.8 million barrels in the July-September period, up 0.6 percent from a year earlier, according to a report by the Korea Petroleum Association. This marked a
Oct. 26, 2021