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The Korea Herald

Industrials

April 02, 2019
No. of shareholders using e-voting triples this year

The number of shareholders using electronic voting during this year’s general meetings nearly tripled from the previous year, data showed on April 2. Around 106,000 shareholders signed on to use e-voting as of the end of March, up 194 percent from the previous year, according to the data from ...
April 01, 2019
EV battery sector emerges as S. Korea’s new growth engine

It might be too early to declare that the electric vehicle battery sector, especially lithium-ion, is South Korea’s new growth engine -- on par with semiconductors that propelled the economy forward -- but analysts here are highly optimistic. In 2018, the top three EV battery manufacturers -- LG ...
March 31, 2019
Kumho Asiana creditors demand asset sell-off, solid loan repayment plan

Despite the voluntary departure of the Kumho Asiana chairman last week, the main creditors of the conglomerate, which owns South Korea’s second-largest air carrier Asiana Airlines, have demanded that it sell off its high-value assets and draw up a solid loan repayment plan to improve liquidity. T...
March 31, 2019
Supply glut, tariffs weigh on Korean steelmakers

A continued oversupply of global steel products and growing protectionism around the world are weighing on South Korean steelmakers already struggling to find fresh growth engines for the future. Global steel production capacity last year stood at around 2.23 billion tons, down 0.3 percent from th...
March 28, 2019
Kumho-Asiana chairman to quit over audit uproar

Kumho-Asiana Group said on March 28 its chairman will resign from key managerial posts, holding himself responsible for the recent controversy over an audit report for Asiana Airlines. Park Sam-koo will step down as group chairman and CEO of flagship Asiana Airlines and Kumho Industrial, the gr...
March 27, 2019
Big firms’ outside directors rubber-stamp key decisions

Outside directors at South Korea’s major listed firms voted for nearly all agenda items for board meetings in 2018, sparking suspicions that they serve as mere rubber stamps, a corporate tracker said on March 27. According to CEO Score, independent directors at 251 listed units of 57 conglomer...
March 27, 2019
More than 40% of S. Korean firms have plans to expand investments in 2019

More than 40 percent of South Korean manufacturing firms have plans to expand facility investments this year despite rising concerns over an economic slowdown, a central bank report showed on March 27. According to the report by the Bank of Korea, 41.3 percent of 252 surveyed manufacturers said...
March 27, 2019
SK hynix wins nod to build chip cluster

SK hynix on March 27 won approval for its plan to build a semiconductor cluster in the Seoul metropolitan area as the government decided to lift development regulations in the region. The update on the project, valued at 120 trillion won ($136 billion) came after the Ministry of Trade, Industry...
March 27, 2019
SK Innovation to spend W430b on LiBS plant in Poland

SK Innovation said on March 27 that it will invest 430 billion won ($380 million) to build a lithium-ion battery separator plant in Poland, in a bid to meet growing demand for electric vehicle batteries. The company, also a major EV battery maker, said it plans to start the construction of the ...
March 21, 2019
SK Innovation to spin off electronic materials unit

SK Innovation said on March 21 that its shareholders have approved a plan to spin off a unit that focuses on the development of information and electronic materials. The spin-off underscores its commitment to fostering its new growth engine, SK Innovation said. With the latest move, SK Inno...
March 20, 2019
Regulators say competition key to approving HHI-DSME deal

The head of the German antitrust regulator has said a key issue in deciding the fate of the acquisition of Daewoo Shipbuilding & Marine Engineering by Hyundai Heavy Industries is whether the deal restricts competition. Andreas Mundt, president of Germany’s Federal Cartel Office, made the comme...
March 19, 2019
Air Busan tops LCC customer satisfaction survey

Air Busan topped other low-cost carriers in customer satisfaction in the National Customer Satisfaction Index survey, the company said on March 19. The carrier beat five rivals to earn the highest scores in most of the six categories, which mainly cover customer satisfaction, recognition, and l...
March 18, 2019
Duty-free sales hit new monthly high in Feb.

Sales at South Korean duty-free stores hit a new monthly high in February on increased purchases by Chinese tourists during the Lunar New Year holiday, industry data showed on March 18. The combined sales of local duty-free shops reached a new monthly record of 1.74 trillion won ($1.53 billion)...
March 15, 2019
S. Korea bans B737 Max flights for 3 months

South Korea joined other countries to ban all Boeing 737 Max aircraft from its airspace due to safety concerns, the Transport Ministry said on March 15. The ministry issued a Notice to Airmen to inform pilots and airline operators of its decision to ban the Boeing aircraft from its airspace for...
March 14, 2019
Korean Air to hold off B737 Max 8 operations till safety concerns are resolved

Korean Air said on March 14 that it will not operate B737 Max 8s to be delivered in the coming months until safety issues are fully settled. The carrier was scheduled to add the passenger jets made by Boeing to its fleet from May. Earlier this week, Eastar Jet, one of South Korea’s budget ...

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