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The Korea Herald

Industrials

October 16, 2024
Posco Group Chairman joins WSA executive committee

South Korean steel giant Posco Group announced Wednesday that Chairman Chang In-hwa has joined the executive committee of the World Steel Association. The World Steel Association, consisting of 155 members ranging from global steelmakers to research institutes, aims to enhance profitability in the...
October 16, 2024
British activist fund takes aim at SK to unlock value

London-based activist investor Palliser Capital is on its way to challenge South Korean chip-to-energy conglomerate SK Group, having secured a stake of over 1 percent in its investment arm SK Square. Having built a stake in SK Square over the past two years, the British activist fund is pushing fo...
October 15, 2024
Manpower Korea sees robust growth in RPO service sales

Manpower Korea, the Korean unit of global human resources service company ManpowerGroup, said Tuesday that its recruitment process outsourcing, or RPO, service has seen robust growth since its debut 10 years ago. When the RPO service was first introduced in Korea in the early 2000s, they mainly se...
October 15, 2024
Herald Business Forum envisions future with AI

Other experts on AI also showcased how AI technology was used in emerging industry sectors including mobility and robotics. "The use of AI in the field of material development is essential. ... Material development typically takes a decade, and for key materials, it can take up to three decades, m...
October 15, 2024
Hanwha eyes another shipyard takeover in US

Hanwha Group, South Korea’s defense-to-energy conglomerate, is looking to expand its shipbuilding and maritime businesses in the United States as it appears to be contemplating a second American shipyard acquisition. Mike Smith, who was appointed as the CEO of Hanwha Defense USA in August, a US s...
October 15, 2024
LS Electric forays into Vietnam’s smart factory solutions market

LS Electric forged a partnership with Becamex, an industrial development firm in Vietnam, in a bid to enter the booming smart factory solutions market. The companies signed a memorandum of understanding on Monday, outlining ways to advance smart factory businesses in Vietnam’s manufacturing secto...
October 15, 2024
Hyosung chair meets Vietnamese PM in Hanoi

Hyosung Group Chairman Cho Hyun-joon met with Vietnamese Prime Minister Pham Minh Chinh in Hanoi on Monday, seeking government support for the chemical, textile and construction conglomerate’s new business ventures in Vietnam. The meeting focused on Hyosung’s ongoing investments and potential ex...
October 15, 2024
KT&G calls W2tr buyout offer ‘unilateral’

Singapore-based activist fund Flashlight Capital Partners has offered to acquire Korea Ginseng Corp., an affiliate under South Korea's dominant tobacco company KT&G, at the price of nearly 2 trillion won ($1.47 billion). KT&G called it a “unilateral” offer. Korea Ginseng Corp., under the wings o...
October 14, 2024
Tender offer closed for Korea Zinc, signaling prolonged proxy fight

Though the tender offer bid for Korea Zinc lodged by the alliance of MBK Partners and Young Poong wrapped up on Monday, the power struggle over the world's largest zinc smelter is likely to evolve into a prolonged proxy fight, stretching out until the next shareholder's meeting. The offer for Kore...
October 14, 2024
Coupang completes Gwangju hub to enhance Rocket Delivery

Currently, Coupang operates two other logistics centers in Gwangju’s Pyeongdong industrial complex, dedicated to storing and delivering fresh food products, with around 650 employees. "By prioritizing the employment of the people of Gwangju, we aim to energize the local job market and actively su...
October 14, 2024
SPC Group appoints ex-Shinsegae exec as new CEO

South Korean bakery giant SPC Group announced Monday that it has nominated Executive Managing Director Lim Byung-sun as its new CEO. Lim, a business management specialist, has previously served as an executive at Shinsegae Group and its affiliates, including Shinsegae Casa and its department store...
October 14, 2024
[From the Scene] Kurly joins beauty retail war as new growth driver

Kurly, the South Korean e-commerce company, is ramping up efforts to expand its beauty platform Beauty Kurly as a key pillar of its business alongside its flagship overnight grocery delivery service. As part of this initiative, Kurly hosted the Beauty Kurly Festa 2024, which ran from Thursday to S...
October 13, 2024
SK heiress weds Chinese American entrepreneur

SK Chairman Chey Tae-won's second daughter Chey Min-jung, 33, tied the knot with Chinese American entrepreneur Kevin Huang in a private wedding in Seoul, where some 500 guests, including the country's top business leaders, gathered for the celebration. Amid their ongoing divorce suit, Chey Tae-won...
October 13, 2024
Lotte chief vows sustainable cacao sourcing in Ghana

Lotte Group Chairman Shin Dong-bin, alongside executives from the group's Korean and Japanese subsidiaries, visited Ghana to support the sustainable sourcing of cacao, a key ingredient in their signature chocolate product. As part of the Sustainable Cocoa Bean Project, a joint initiative by Lotte'...
October 13, 2024
S. Korea, Laos vow to combat deforestation together

South Korea's forest agency announced Thursday that it has established a cooperative organization with Laos to enhance joint efforts in combating deforestation and promoting sustainable forest management. The organization, the REDD+ Cooperation Center, focuses on reducing emissions from deforestat...

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