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The Korea Herald

Industrials

March 12, 2019
Seoul Semiconductor wins top award in lighting sector

Seoul Semiconductor , a leading LED firm in South Korea, said on March 12 it has received the 2019 LEDs Magazine Sapphire Award for its Acrich NanoDriver Series ultraminiature LED drivers. The award, aimed at recognizing the advancement of lighting technology, is presented annually by US lighting...
March 11, 2019
CJ ENM teams up with BTS’ label to launch new band

Korean entertainment giant CJ ENM announced on March 11 it has teamed up with Big Hit Entertainment, the management agency of the sensational K-pop boy band BTS, to launch an idol band on the global music scene. The two firms established a joint venture named Belif Lab, aiming to unveil a new K...
March 07, 2019
Shipbuilders urge steelmakers to refrain from raising prices

Local shipyards called on steelmakers on March 7 to refrain from raising prices of thick steel plates used to build vessels until their businesses are back on track, claiming that any increase will lead to a burden they cannot cope with at present. “Hikes in steel plate prices exert a consider...
March 07, 2019
Korean refiners expect earnings improvement

Korean oil refiners, led by SK Innovation, are expecting their earnings to improve down the road on the back of a rise in refining margins, industry sources said on March 7. SK Innovation and other refiners, including GS-Caltex and S-Oil, reported weaker-than-expected earnings in the fourth qua...
March 06, 2019
Gov’t to release more info on harmful substances in e-cigarettes

Korea’s government said on March 6 it is pushing to release more information on various harmful substances found in e-cigarettes. The Ministry of Food and Drug Safety said it plans to come up with an analytical method that will allow the general public to easily access and check hundreds of ch...
March 06, 2019
KHNP taps Turkish nuclear plant market with SMEs

The state-run Korea Hydro & Nuclear Power Co. on March 6 vowed to penetrate deeper into the Turkish market for nuclear plant equipment along with 22 small-and medium enterprises. KHNP said its export affiliate, Korea Nuclear Partners, organized a delegation to participate in the International N...
March 06, 2019
Korea biz lobby chief asks gov’t to strengthen safety net for growth

The chief of a major Korean business lobby on March 6 urged the government to take a multi-pronged approach to help tackle low growth and the widening income gap facing the country. In a statement sent to a conference held by Sustainable Growth Initiative, a think tank set up by the Korea Chamb...
March 03, 2019
Oil refiners appear passive toward government’s hydrogen drive

Despite the South Korean government’s ambitious announcement on creating a hydrogen economy this year, oil refiners appear to be taking a passive stance toward the plan, citing questions over profitability when jumping into the hydrogen business. In January, the government announced its road map ...
February 28, 2019
Cigarette sales up 15% in Jan.

Sales of cigarettes in Korea rose 14.6 percent in January from a year earlier, data showed on Feb. 28, despite an anti-smoking campaign and higher prices. Korean smokers purchased 292 million 20-cigarette packs in January, compared with 254.8 million in the same period last year, according to data...
February 28, 2019
SK E&C wins deal to build oil storage facility in UAE

SK Engineering & Construction, an affiliate of the country’s top refiner SK Innovation, said on Feb. 28 that it has won a US$1.2 billion deal to build an oil storage facility in the United Arab Emirates. The firm said it has already started building an underground oil storage bunker in the mounta...
February 28, 2019
Samsung chairman, son remain top dividend recipients

The father and son of Samsung Group owning family remained the top two recipients of dividends this year, with the total payouts by conglomerates expected to hit a record, an analysis by a corporate tracker showed on Feb. 28. Lee Kun-hee, the hospitalized second-generation chief of Samsung Group w...
February 27, 2019
Korea’s sports market grows, but profitability drops

Korea’s sports market grew in 2017, but its profitability went down, a report by the Sports Ministry showed on Feb. 27. The number of companies in the industry was reported at 101,207 in 2017, up 6.3 percent from the previous year, according to the report released by the ministry. The market size...
February 26, 2019
Production index for restaurants dips by biggest margin in 2018

The production index for restaurants dropped by the largest margin to date last year, state data showed on Feb. 26, showing the weakness of the business segment that self-employed people heavily rely on. The index dropped to 94 last year from 97.2 a year earlier, the biggest fall since record keep...
February 26, 2019
DSME workers to go on strike against sale to HHI

Unionized workers at Daewoo Shipbuilding & Marine Engineering plan to go on strike on Feb. 26 in a show of opposition to the planned sale to Hyundai Heavy Industries. Last week, workers at DSME approved a walkout against the proposed deal. The shipbuilder’s union said its workers at the Geoje yar...
February 24, 2019
GS Group chairman urges new executives to break mold

At a GS Group dinner banquet held at Elysian Resort Jeju on Feb. 22, Chairman Huh Chang-soo gave a speech to newly appointed executives, sharing his know-how and advising them to set high goals and take bold actions. In front of new executives of GS Group, Huh addressed the volatile economic envir...

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