KHNP seeks shared growth with SMEs with new buying system

Korea Hydro & Nuclear Power Co., the state-run nuclear power plant operator, recently announced a plan to accelerate sustainable growth. The move is in line with the government’s ongoing efforts to promote shared growth with small-and medium-sized enterprises.KHNP said it had started with reorganizing and expanding related departments and was working to enhance technical competence and reform its purchasing methods.The company has come up with several measures to improve small firms’ cashflow. L

May 7, 2013

Cosmetics fair puts Korean beauty center stage

The secret to Korean-style beauty will be unlocked next month when the curtain is raised on the 2013 Cosmetics & Beauty Expo in Osong, North Chungcheong Province. Up to 2,000 buyers from 300 companies are to participate during the 24-day exhibition from May 3-26, with 1 million people expected to attend, the event organizers said.The event, the first of its kind, is designed to showcase how much Korean cosmetics makers have advanced, along with offering a stage for other global cosmetics manufac

April 11, 2013

SK Hynix makes overseas efforts for social contribution activities

SK Hynix is going overseas with its social contribution activities, launching global campaigns with a matching grant as well as employees’ donations.The world’s No. 2 memory chipmaker said that it has been gearing up efforts to increase its social contribution abroad in a bid to create a favorable workplace that emphasizes social welfare projects as well as employees’ happiness.The company has been launched a number of projects that include the word “happiness” in its operations since it was acq

April 11, 2013

Merck CEO named adviser on Gyeonggi investment

Juergen Koenig, CEO of Merck Korea, was appointed as adviser for promoting investment in Gyeonggi Province on Wednesday. The advisory panel, to serve until April 11, 2015, consists of 25 people such as executives in global high-tech companies, and experts in emerging capital markets and the service industry. “Attracting businesses to Gyeonggi Province is a key to creating more jobs; it is challenging, but at the same time very rewarding and contributes a lot to society,” said Gyeonggi Gov. Kim M

April 11, 2013

Shinhan backs compassionate finance

When Han Dong-woo took office as chairman of Shinhan Financial Group two years ago, his main concern was how to turn the company into one with sustainable growth in the global financial industry characterized by firms’ fast rises and falls.He found the answer by setting humanitarian finance as its core business philosophy and “planting the DNA of compassionate finance” into Shinhan employees.He created the slogan “compassionate finance,” meaning warm, customer-based professionalism in finance, t

March 29, 2013

Shinhan Bank’s ‘matrix’ yield gains despite slump

Shinhan Bank said Thursday that its “matrix operation,” or business coordination between banks and brokerages, has yielded considerable gains since it introduced the system last year. As a fresh business concept, the matrix was adopted by the country’s major banks with an affiliate brokerage firm, such as Shinhan Bank, Hana Bank and Woori Bank, as early as the beginning of 2012. Shinhan Bank is historically the first bank in Korea, originally established under the name Hanseong Bank in 1897. The

March 28, 2013

KB Kookmin Card pours effort into sharing

Among countless corporate social sharing programs, KB Kookmin Card’s social contributions specifically aim to bolster the nation as a whole. Embracing the core needs of all age groups and ethnicities is the essential part of the ambitious sharing project. KB Kookmin Card has been one of the “big 4” credit finance card companies, wielding power in the credit card and check card sectors in particular, since its launch in 2011.Applied to the sharing project is the company’s extensive experience dat

March 26, 2013

BAT Korea supports social sharing with Korean community

Companies’ social contributions are important in helping society stay healthy. Among different corporate management philosophies that abound in Korean society, British American Tobacco Korea has held on steadfastly to social responsibility.The company has over 1,000 employees and operates a manufacturing facility in Sacheon, South Gyeongsang Province.“Some people believe tobacco and social responsibility do not mix,” a BAT Korea spokesperson said. “Tobacco can involve risks, but those risks are

March 5, 2013

[Power Korea] POSCO pushes for future growth with energy, premium steel

in response to rising uncertainties in the global steel industry, POSCO’s top management unveiled its strategy for future growth at the beginning of 2012. According to the blueprint titled as the “POSCO Family Vision 2020,” POSCO will seek core business expansion from steel to energy and material. In the course of developing the renewed growth vision, POSCO acquired independent power provider Kyungin Energy, now POSCO Energy, in 2005, plant builder Sung Jin Geotec in 2010 and Daewoo Internationa

Feb. 4, 2013

[Power Korea] ‘POSCO Way’ path to global steel success

When asked which corporate brands represent Korea, Koreans are likely to pick Samsung, Hyundai Motor or LG without hesitation. In a survey in 2012 on what company Koreans loved, however, POSCO, the nation’s top steelmaker, came ahead of other conglomerates. Despite its privatization in 2000, POSCO has been considered a company for the citizens since its foundation in 1968 because of its history attributing to the nation’s economic miracle starting from scratch. Beyond Korea, POSCO has also grown

Feb. 4, 2013

RIM launches new name and BlackBerry 10

Canadian smartphone pioneer Research In Motion said it was changing its name as it launched its new BlackBerry 10 smartphone Wednesday.RIM, as it was sometimes called, produced the first wildly popular cell phone, called the BlackBerry, which has struggled to get out from under a wave of rivals that followed, most notably Apple with its iconic iPhone and a host of phones that use Google‘s Android operating system.The Canadian company Wednesday said it would adopt the name of its most familiar pr

Jan. 31, 2013

Samsung expects to post W200tr in sales

Samsung Electronics is expected to post up to 200 trillion won in annual sales based on a record-breaking year in 2012, the company said in a statement Tuesday.Last year, the company estimates that it recorded 201 trillion won of sales, while operating profit reached 29 trillion won. This was because in the fourth quarter, Samsung Electronics is seen to have posted sales of 56 trillion won and an operating profit of 8.8 trillion won. This indicates that sales rose by more than 7 percent compared

Jan. 8, 2013

POSCO launches new social enterprise

POSCO, the nation’s top steelmaker, launched a new social enterprise named POSCO HUMANS on Wednesday after merging POSWITH and Poseco Housing, both of which were social enterprises under the steel group, POSCO HUMANS said in a press release. “The merger deal came for synergy effect and management efficiency. The newly established social enterprise will focus on offering jobs for socially disadvantaged people, including disabled and multicultural family members,’’ the company said. POSWITH, estab

Jan. 8, 2013

Focus on core strengths key to survival of shipbuilder SPP

SACHEON, South Gyeongsang Province ― Contrary to concerns that idle shipyards in the nation’s southern coast are increasing due to lack of overseas orders since late 2008, the shipyard of SPP Shipbuilding in Sacheon is bustling. Each process required to build a vessel ― from steel sheet cutting to ship block manufacturing ― is in full swing. “We are lucky to have backlogs of orders that stretch to 2013,” SPP Shipbuilding CEO Kwak Han-jeong said in an interview with The Korea Herald.  SPP Shipbui

Nov. 13, 2012