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The Korea Herald

Industrials

November 12, 2018
Korea’s top renewable battery firms to create W100b fund

[THE INVESTOR] Korea’s big three rechargeable battery makers have agreed to create a fund to jointly develop next-generation battery technologies and foster related industries, the industry ministry said on Nov. 12. The companies -- LG Chem, Samsung SDI and SK Innovation -- signed a memorandu...
November 12, 2018
Italy’s Alcantara to expand collaboration with Korean firms

[THE INVESTOR] Italian luxury fabric manufacturer Alcantara said on Nov. 12 it will increase partnership with Korean companies as it moves to expand its presence globally. The firm has been making inroads into the Korean market for the past two to three years through its collaboration with loc...
November 09, 2018
3M vice chair appointed LG Chem CEO

[THE INVESTOR] LG Chem said on Nov.9 that it has named a top executive of US industrial giant 3M as its new vice chairman and CEO. Shin Hak-cheol, vice chair and executive vice president of 3M, is the “the right person” to respond to rapidly changing business environments while leading a ...
November 04, 2018
SK hynix develops world’s first 4D NAND flash

[THE INVESTOR] SK hynix has developed the world’s first 4D NAND flash memory using both Charge Trap Flash and Peri Under Cell technologies, with a plan to start mass production this year, according to the chipmaker on Sunday. SK hynix said it developed 96-layer 512-gigabyte NAND flash, named CT...
November 02, 2018
CJ CGV seeks to boost market share in Vietnam via IPO

[THE INVESTOR] CJ CGV Vietnam Holdings said on Nov. 2 it will further expand its presence in Vietnam by maximizing funds from its planned listing in Korea this month. The cinema chain based in Vietnam is scheduled to go public on Seoul‘s main KOSPI bourse on Nov. 16. It plans to issue 5.71 mi...
November 01, 2018
KEPCO CEO eyes biz expansion abroad

[THE INVESTOR] The state-run Korea Electric Power Corp. is accelerating its overseas presence as part of a move to diversify its portfolio and create new growth drivers, its chief executive said on Nov. 1. “KEPCO’s business model centers on providing electricity in the domestic market and it...
October 28, 2018
STX Marine Service wins US$500m deal to restore, operate plant in Iraq

[THE INVESTOR] Korea's STX Marine Service said on Oct. 28 that it has secured a contract to restore and run diesel-fueled electric power plants in Iraq. The ship management service and power plant operation and maintenance (O&M) company said the US$500 million deal is a five-year work project on ...
October 28, 2018
KT to pick 5G network equipment supplier

[THE INVESTOR] KT said on Oct. 28 it will announce its fifth-generation (5G) network equipment supplier as early as this week. "We will make the announcement soon. It is possible to be delivered within a week," said KT Chairman Hwang Chang-gyu during his meeting with reporters in Boston. Hwang ad...
October 23, 2018
LG Chem to invest W2tr to build EV battery plant in China

[THE INVESTOR] LG Chem said on Oct. 23 that it will invest 2.1 trillion won (US$1.80 billion) by 2023 to build electric vehicle batteries in China in the latest move to meet growing demand for batteries for zero-emissions cars. Korea’s top chemical company said it has broken ground for a thre...
October 23, 2018
POSCO’s net profit rises 17% on shareholding gains in Q3

[THE INVESTOR] POSCO, the world’s fourth-biggest steelmaker by output, said on Oct. 23 its third-quarter net profit rose 17 percent from a year earlier on shareholding gains from affiliates. In the third quarter that ended on Sept. 30, net profit jumped to 1.058 trillion won (US$931 million) ...
October 21, 2018
Korea Gas Corporation confident of retaining leadership in natural gas

[THE INVESTOR] The Korea Gas Corporation, a public natural gas company, is seeking to solidify its leadership in the natural gas and liquefied natural gas business with continued investment at home and abroad. The company currently provides natural gas to more than 90 percent of the nation’s re...
October 15, 2018
Korean Air chief indicted for embezzlement

[THE INVESTOR] Hanjin Group and Korean Air Chairman Cho Yang-ho was indicted for several charges including embezzlement and breach of trust on Oct. 15 without detention. Cho, 69, is accused of causing losses to the airline by embezzling some 19.6 billion won (US$17.30 million) from company fun...
October 15, 2018
Schindler sues Korean gov’t over Hyundai Elevator

[THE INVESTOR] Schindler Group, the second-largest shareholder of Hyundai Elevator, has officially filed for an investor state dispute settlement against the Korean government seeking US$300 million in compensation for losses over its approval of paid-in capital increase of the Korean lift maker f...
October 14, 2018
Heads of Hanwha, Heritage Foundation call for stronger US-Korea alliance

[THE INVESTOR] The chiefs of South Korea’s Hanwha Group and the US-based Heritage Foundation called for efforts to strengthen the US-Korea alliance during a meeting in Seoul on Friday, the conglomerate said Sunday. Hanwha Chairman Kim Seung-youn and Heritage Foundation founder and former preside...
October 10, 2018
SK Innovation targets 30% car battery market share by 2030

[THE INVESTOR] SK Innovation said on Oct. 10 it will put a bigger focus on its battery business to achieve a 30 percent share of the global car battery market by 2030. In the January-August period, SK Innovation churned out a total of 428.9MWh of car battery products, sharply up from 160MWh a ...

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