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The Korea Herald

Industrials

June 08, 2020
International experts denounce WHO for lacking innovation

A group of independent experts has criticized the World Health Organization for its stance on new technology in the tobacco and vaping industry, calling the organization backward-looking and saying it lacks innovation. The experts, who claim no conflicting links to the tobacco or vaping industry, ...
June 05, 2020
Air carriers struggle to launch China routes amid strengthened landing criteria

Korean air carriers that have been gradually starting to resume their international routes amid slower spread of COVID-19 are facing hurdles to operating China routes over authorities’ strengthened landing conditions, according to industry sources on Friday. According to full service carrier Ko...
June 04, 2020
EU resumes HHI-DSME merger review, likely by September

The European Commission has resumed the screening of Hyundai Heavy Industries’ acquisition of Daewoo Shipbuilding & Marine Engineering after temporarily suspending the review amid the coronavirus pandemic, according to the commission on June 4. The EC said the “provisional deadline” of the scr...
June 03, 2020
LG Chem batteries to power Vietnam’s first-ever EV

LG Chem said on June 3 it will power Vietnam’s first-ever electric vehicle, which can travel up to 500 kilometers on a single charge. According to LG Chem and local media, Vietnam’s first domestic carmaker VinFast will load its first EV models with lithium-ion batteries manufactured by LG Chem....
June 02, 2020
Hanwha Asset bets on e-commerce, data, health care stocks amid coronavirus

Seoul-based Hanwha Asset Management said on June 2 it is betting on new growth opportunities of companies dedicated to e-commerce, data infrastructure and health care by creating a fund investing in such stocks at home and abroad. The strategy comes amid consumer concerns about face-to-face conta...
May 19, 2020
Hanwha Solutions expands to solar power software business

Hanwha Solutions said on May 19 it has invested in a solar power software company, diversifying its business portfolio that is currently focused on hardware such as solar power cells and modules. This is the first investment finalized by the Hanwha Group affiliate since Vice President Kim Dong-kw...
May 15, 2020
Kepco swings to profit in three years in Q1 thanks to cheap oil

Korea Electric Power Corp. said on May 15 that it recorded 430.6 billion won ($350.1 million) in operating profit in the first quarter this year, swinging back into the black in three years. The state-run utility witnessed 430.6 billion won in operating profit, a 1-trillion-won increase on-year f...
May 14, 2020
Hanjin KAL decides to inject W300b in cash-strapped Korean Air

Hanjin KAL said Thursday it will inject 300 billion won ($244.3 million) in Korean Air by selling its assets and through mortgage loans, one day after the airliner’s board decided to raise 1 trillion won by selling new stocks as part of a self-rescue plan. The parent company of Korean Air curre...
April 28, 2020
Coronavirus gives bargaining power to EV battery makers

The novel coronavirus outbreak has ruffled the power dynamics of the buyer-and-seller relationship between European automakers and South Korean battery makers, according to industry sources and market watchers. Though electric vehicle battery manufacturers are typically in a position to lure orde...
April 28, 2020
LG Chem goes into black in Q1 on improved core business performance

South Korean chemical and battery firm LG Chem on April 28 reported a swing to operating profit of 236.5 billion won ($192.7 million) in the first quarter by minimizing losses in its battery business. The Korean battery manufacturer cut its operating loss in the battery business by 80 percent to ...
April 23, 2020
SK hynix reports earnings surprise amid high server demand

SK hynix, the second-largest memory chipmaker in the world, announced an earnings surprise on April 23, with a 239 percent on-quarter increase in its operating profit in the first quarter. Despite concerns about a coronavirus downturn in the global economy, the South Korean chipmaker posted 7.19 ...
April 17, 2020
SK E&S sells entire stake in China Gas Holdings

SK E&S has sold its entire stake in a Chinese private gas company to prevent a liquidity crisis as demand in the energy market plunged since the global coronavirus pandemic. The energy unit of SK Group said it sold all of its 10.25 percent stake (535 million shares) in China Gas Holdings through ...
March 18, 2020
[Advertorial] LG Chem vows to create sustainable social value in outreach efforts

Leading chemicals company LG Chem said it is joining the UN Sustainable Development Goals to enhance the value of society and environment with its eco-friendly, energy and youth education corporate social responsibility programs. Education for young generation One of the company’s efforts includ...
February 17, 2020
LG Chem gets default win in US ITC suit after SK Innovation’s contempt of court

The US’ International Trade Commission has made a default judgment in favor of LG Chem in its suit against SK Innovation, LG Chem said on Feb. 16, hinting that the end is near in the legal tug-of-war between the two Korean battery makers. A default judgment occurs when a court rules in favor of ...
February 07, 2020
Hanjin KAL decides to give board of directors right to pick chairman

Hanjin KAL, the holding company of Hanjin Group, held a board meeting on Friday, to have the chairman of the board of directors be elected by the board to separate the position of its company president and the board chair. The board also decided to reorganize the hotel and leisure business that f...

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