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The Korea Herald

Industrials

May 15, 2019
38 firms newly make list of top 500 firms in 2018

A total of 38 firms newly made the list of South Korea’s top 500 companies by sales in 2018, with Samsung Electronics retaining the No. 1 spot, a corporate tracker said on May 15. The newcomers included fiber manufacturer Hyosung TNC, which placed 163rd, the highest among them, according to CE...
May 15, 2019
LS Cable’s Poland plant begins production

LS Cable & System, South Korea’s leading wire and cable manufacturer, said Wednesday its new Polish plant has started production as it aims to expand its presence in the European market. The company became the first Korean cable maker to have a production base in Europe after completing constr...
May 14, 2019
Korea lags behind China in April shipbuilding orders

South Korea ranked second for a second straight month in April in terms of new shipbuilding orders, falling far short of orders won by Chinese rivals, industry data showed on May 14. In April, Korean shipbuilders secured orders totaling 280,000 compensated gross tons to build seven ships, accou...
May 14, 2019
Lotte invests cumulative $4b in US

Lotte Group, South Korea’s retail-to-chemicals conglomerate, has been accelerating its move to tap deeper into the United States, the world‘s largest economy, with its cumulative investments reaching some $4 billion in production facilities and other areas, industry sources said on May 14. In...
May 09, 2019
KT&G’s net profit rises 11% on increased overseas sales

KT&G, South Korea’s dominant tobacco company, said on May 9 its first-quarter net profit rose 11 percent from a year earlier on increased overseas sales. Net profit for the January-March quarter rose to 276 billion won ($235 million) from 249 billion won in the year-ago period, the company sai...
May 08, 2019
Hanwha Chemical’s net profit dips 59% in Q1

Hanwha Chemical said May 8 its first-quarter net profit plunged 59 percent from a year earlier due to increased oil prices. Net profit for the January-March period fell to 120 billion won ($125 million) from 293 billion won a year ago, the company said in a statement. “In the first quarter...
May 07, 2019
Asiana to remove nonprofitable routes, first class cabins

Asiana Airlines said on May 7 it will streamline its international routes and stop operating first class cabins in September to cut costs ahead of its planned sales. The firm said it will suspend operations of the nonprofitable routes from Incheon to Khabarovsk and Sakhalin in Russia and Delhi ...
May 07, 2019
Jeju Air’s net profit up in Q1 on fleet expansion, Asian routes

Jeju Air, South Korea’s biggest low-cost carrier by sales, on May 7 said that it posted a 14 percent on-year jump in first-quarter net profit on an expanded fleet and focus on Asian routes. Net profit for the January-March period climbed to 42 billion won ($36 million) from 37 billion won a ye...
May 02, 2019
HHI swings to black in Q1

Hyundai Heavy Industries said on May 2 it swung to black in the first quarter of the year from a year earlier. Net profit reached 17.3 billion won ($14.8 million) in the January-March period on a consolidated basis, compared with a loss of 132 billion won a year earlier, the company said in a r...
May 02, 2019
Asiana Airlines offers early retirement ahead of sale

Troubled carrier Asiana Airlines said on May 2 it has offered a voluntary retirement program in an effort to make itself more attractive ahead of its planned sale. The early retirement offer covers Asiana employees with 15 years or more of continuous service at South Korea’s No. 2 airline. ...
May 01, 2019
Korean Air to reduce first class cabins from June

Korean Air said on May 1 it will start reducing first class cabins on some international routes next month in a move to operate routes effectively and boost profitability. Airlines traditionally have three travel classes -- first, business and economy. Korean Air has provided three travel c...
April 29, 2019
Dividend payouts by Korean firms grow 9.2% in 2018

Dividends paid by local listed firms grew from a year earlier last year, with their average dividend payout ratio also rising, industry data showed on April 29. The total amount paid by 753 local firms listed on the main bourse Kospi came to about 30.4 trillion won ($26.3 billion) last year, up...
April 29, 2019
Operating profit of major listed firms down 50% in Q1

The combined operating profit of listed firms is estimated to have nearly halved in the first quarter, mainly due to a slump by chipmakers and other market behemoths, data showed on April 29. According to the data, the combined operating profit of 40 listed firms is estimated at 15.5 trillion w...
April 28, 2019
Kogas to invest W4.7tr in hydrogen industry by 2030

Korea Gas Corp. is to set aside 4.7 trillion won ($4.06 billion) to build hydrogen infrastructure and develop related technologies by 2030 as part of the nation’s push toward next-generation energy, according to the state-run natural gas company on April 28. Kogas’ hydrogen plan comes as a foll...
April 28, 2019
Samsung SDI learns about innovation from Busan-based fish cake firm

Samsung SDI, the nation’s second-largest battery maker, sought to learn from a local fish-cake maker based in Busan, in an effort to innovate its operation and business strategies. Executives and employees of Samsung SDI looked at the example of family-run fish-cake maker Samjin Eomuk, which has...

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