Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Yoon set for talks with Marcos in Philippines
-
4
Can Jennie break the K-pop solo artist slump?
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
First lady’s Dior bag scandal to be at center of Assembly audit
-
7
Yoon honors veterans of Korean War in trip to Philippines
-
8
Seoulites celebrate coexistence at Wellness Seoul 2024
-
9
[KH Explains] Can G-Star level up?
-
10
[Lee Kyong-hee] Tone-deaf first lady causes chaos
-
Disciplinary actions against state-run firm employees increase 21%
The number of disciplinary actions taken by public corporations in South Korea against their employees increased by more than 20 percent over the past two years, according to a local corporate tracker on Sunday. According to a survey conducted by CEOScore, the total number of employees who faced disciplinary action at 36 public companies in 2019 was 705, a 21.6 percent increase from 580 cases reported in 2017. But the penalties imposed were less serious, with only 50 people facing dismissa
May 10, 2020
-
Hyundai Electric wins W35b deals from Saudi Arabia
Hyundai Electric and Energy Systems Co. said Sunday it has clinched two orders worth 35 billion won ($28.6 million) to supply power transformers and gas insulated switchgears to Saudi Electricity Co. and Saudi Arabia's state oil company Saudi Aramco. Hyundai Electric, a unit of shipbuilding giant Hyundai Heavy Industries Co., said the state-run utility order came to 23 billion won, while the rest came from Saudi Aramco. The latest contracts raised Hyundai Electric's deals in the oil-rich king
May 10, 2020
-
LG Polymers India expresses condolences over deadly gas leak
LG Polymers India, an affiliate of South Korean chemical giant LG Chem Ltd., on Saturday expressed condolences over a gas leak that killed 12 people as it vowed to provide an effective care package for the victims. LG Polymers India said it has created a special task force to help victims and families to resolve any issues and provide assistance to the bereaved families. "LG Polymers India would like to express our deepest condolences to everyone who has been affected and hurt by this in
May 10, 2020
-
SKC Q1 net profit nearly triples on one-off gains
SKC Co., a South Korean maker of chemicals and film products, said Friday that its net profit nearly tripled in the first quarter from a year earlier due to a stake sale. For the January-March period, SKC posted a net profit of 86.1 billion won ($70.5 million), a sharp increase from a profit of 23 billion a year earlier. SKC said the sale of its stake in SKC Kolon PI Inc., a maker of polyimide film used in displays, semiconductors and electric vehicles, boosted the company's bottom line. In
May 8, 2020
-
CJ CGV Q1 net loss widens sharply on virus
South Korea's top multiplex chain CJ CGV Co. said Friday its first-quarter net loss widened sharply from a year earlier due to the coronavirus outbreak. CJ CGV said in a regulatory filing that it lost 118.6 billion won ($97.3 million) in the January-March period, compared with a net loss of 8.6 billion won a year earlier. Yet, the first-quarter net loss was smaller than a shortfall of 213.5 billion won recorded in the previous quarter. Revenue nose-dived 47.6 percent on-year to 243.3 billion
May 8, 2020
-
LG Q1 net profit up 30.8% to W592.1b
LG Corp. on Friday reported its first-quarter net income of 592.1 billion won ($ 485.4 million), up 30.8 percent from a year earlier. Operating profit for the January-March period was 607.7 billion won, up 31.2 percent from a year ago, the company said in a regulatory filing. Revenue fell 2.6 percent to 1.58 trillion won. (Yonhap)
May 8, 2020
-
SK Chemicals swings to profits in Q1
SK Chemicals Co. on Friday reported its first-quarter net profit of 13 billion won ($10.7 million), swinging from a loss of 11.6 billion won a year earlier. Operating income for the January-March period was 8 billion won, up 119.2 percent from a year ago, the company said in a regulatory filing. Sales fell 20.9 percent to 252.5 billion won. (Yonhap)
May 8, 2020
-
Lotte Chemical shifts to loss in Q1 amid coronavirus
Lotte Chemical Corp., a major South Korean petrochemical company, said Friday that it swung to a net loss in the first quarter from a year earlier due to weak demand amid the coronavirus pandemic. For the January-March period, Lotte Chemical posted a net loss of 90 billion won ($73.7 million), shifting from a net profit of 224 billion won a year earlier, the company said in a regulatory filing. Lotte Chemical said the net loss is blamed on weak demand amid the coronavirus pandemic as well as
May 8, 2020
-
Celltrion posts 55% operating profit growth in Q1
Subcutaneous infliximab injection Remsima SC is towing Celltrion’s revenue in 2020, according to the company, Friday. Despite the COVID-19 scare dampening the global economy, Celltrion said in a regulatory filing that it saw a 68.2 percent on-year revenue growth and 55.4 percent on-year operating profit growth in the first quarter. Celltrion posted 372.8 billion won ($305.4 million) in revenue and 120.2 billion won in operating profit. Remsima SC is a subcutaneously injectable inflixi
May 8, 2020
-
COVID-19 boosts NHN’s Q1 performance
The COVID-19 pandemic is proving to be a boon for online service providers. Korea’s NHN, for one, posted a 59 percent increase in year-on-year net profit in the first quarter on the back of a strong performance by its online payment solution, Payco, and its online games. According to its regulatory filing on Friday, NHN posted revenue of 394.6 billion won ($323 million), up 6.5 percent on-year; operating profit of 28.3 billion won, up 30.2 percent on-year; and net profit of 17.6 billio
May 8, 2020
-
LG Chem says there was no second leak, still investigating cause
LG Chem is still investigating the gas leak in Visakhapatnam, India, that killed at least 11 and sent about 1,000 people to hospitals. “There was no second leak, but we have requested the police to evacuate the local residents in case the temperature within the tanks goes up,” said an LG Chem official, denying media reports suggesting more leaks were happening at the plant and that the number of casualties could grow. “We are currently undertaking necessary measures to cool
May 8, 2020
-
[Monitor] Online shopping jumps 11.8% amid staying home trend
The total volume of online and mobile shopping transactions jumped 11.8 percent in March compared to a year earlier amid the staying home trend, data by Statistics Korea showed. The total online shopping transactions stood at 12.58 trillion won ($10.2 billion), and it accounted for 28.2 percent of the entire retail sales including offline sales. Mobile shopping accounted for 67.3 percent of the total non-face-to-face shopping transactions, recording 8.47 trillion won in March. The figure is
May 8, 2020
-
Samsung’s compliance watchdog demands more details from heir
Samsung Electronics’ compliance monitoring committee on Thursday demanded heir Lee Jae-yong and group affiliates come up with more details of plans to root out illegal practices. The committee led by former Chief Justice Kim Ji-hyung held a meeting to discuss the televised public apology delivered by Vice Chairman Lee on Wednesday. In response to the committee’s recommendation in March, Lee made the apology about unlawful actions taken to smooth the power transfer from his
May 7, 2020
-
LG Chem unveils vision to leap into science realm
LG Chem announced Thursday its new vision to transform the company from providing materials and solutions to one connecting science to life. The company held a ceremony marking its first vision change in 14 years with LG Chem Vice Chairman Shin Hak-cheol presiding in the presence of some 20 staff and executives from each department. “So far, LG Chem has turned dreams into reality with the science around us and has accumulated, making unbreakable lids for cosmetic products and the wor
May 7, 2020
-
Posco promotes construction steel brand Innovilt as next-generation product
South Korean steel giant Posco said Thursday that it would focus all its capabilities on fostering its new construction steel brand, Innovilt, as its next-generation product. To that end, the company said it would cooperate with small but strong companies to advance its premium construction steel business, and that it ultimately hoped to establish a new ecosystem in the construction market. Posco launched Innovilt in November 2019. The construction steel brand is used in architectural struc
May 7, 2020
-
LG Chem vows thorough investigation into India factory gas leak
Following a gas leak at LG Polymers plant in southern India that has left at least nine dead and more than 300 of local residents hospitalized, LG Chem said Thursday that it will take all necessary measures to investigate the cause and prevent further damage to residents and workers. The accident occurred on Thursday at LG Polymers plant in the Visakhapatnam district of Andhra Pradesh state, according to news reports citing local police. “The gas leak at the factory has been contained a
May 7, 2020
-
Multiple, alternative sources necessary in disrupted global supply chain: experts
As the global pandemic has caused disruption in the global supply chain, companies should manage key suppliers, secure multiple and alternative sources and establish regional supply chains, experts said in a symposium held Thursday. The public-private joint video symposium in response to the global supply chain crisis was held jointly by the Industry Ministry and the Korean Production & Operations Management Society. The seminar aimed to find out the impact of the pandemic-led crisis on i
May 7, 2020
-
Celltrion’s Remsima SC launches in Netherlands
Subcutaneous rheumatoid arthritis treatment Remsima SC launched in the Netherlands, its third European market, Celltrion Healthcare said Thursday. Remsima SC is an under-the-skin injection of infliximab biosimilar that treats autoimmune diseases. So far, it is approved to treat RA indication, and is still in the process of adding inflammatory bowel disease indication. Celltrion Healthcare said it inked a partnership with the biggest Dutch private health insurance company CZ, who will return
May 7, 2020
-
[Monitor] NK's exports shrivel while imports rise
North Korea’s trade dependency on China continues to escalate while its exports have shrunk drastically from the 2017 sanctions, data from the Korea International Trade Association showed. The total trade volume for last year came at $2.945 billion, with exports worth $261 million and imports worth $2.684 billion. While exports declined 20.9 percent on-year, imports increased 15.6 percent. The reclusive state’s exports have plunged 94.3 percent compared to $4.562 billion in 2015,
May 7, 2020
-
KT&G donates COVID-19 test kits worth W100m to Indonesia
South Korean tobacco giant KT&G said Wednesday that it had donated 100 million won ($81,780) worth of COVID-19 test kits to Indonesia, where it has a corporate body. According to the company, it delivered the kits, which are made in Korea and can diagnose 6,300 people, via its overseas corporate body to the Indonesian National Board for Disaster Management on Tuesday. “We made the decision to support the country where our overseas office is located to lend help,” a KT&G
May 6, 2020