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The Korea Herald

Industrials

September 10, 2018
SK hynix to build US$300m hospital in China: report

[THE INVESTOR] SK hynix is reportedly injecting US$300 million into building a general hospital in China by 2022, raising speculation that SK Group could make a big push for its nascent bio and health care business in the burgeoning market. According to Korea Economic Daily on Sept. 10, the deci...
September 10, 2018
Vietnam’s VinFast signs MOU with LG Chem

[THE INVESTOR] Vietnam’s VinFast Trading and Production said it has a signed an initial agreement with LG Chem for provision of batteries for its electric scooters and electric cars. LG Chem will also supply batteries for electric buses, smartphones and other products in the Vingroup‘s ecosy...
September 10, 2018
Kolon Industries eyes expansion of aramid plant

[THE INVESTOR] Kolon Industries, Korea’s top textile and chemical materials maker, said on Sept. 10 it will expand the capacity of its domestic aramid factory by 50 percent within two years. The company said it plans to expand the annual capacity of the plant in Gumi, about 260 kilometers sou...
September 09, 2018
Six-largest steel firms fined W100b over price fixing

[THE INVESTOR] Korea’s six-largest steel companies were fined a combined total of 119 billion won (US$105 million) by the antitrust watchdog over charges of fixing the prices of steel rebars, officials said Sept. 9. According to the Fair Trade Commission, the six steel producers fixed prices by ...
September 09, 2018
LG Chem holds global recruiting event in US

[THE INVESTOR] LG Chem , the chemicals and biopharma business unit of Korea’s fourth-largest conglomerate LG Group, said Sept. 9 that its management executives including Vice President and CEO Park Jin-soo visited Los Angeles to recruit talent from around the globe. Every year since taking offi...
September 07, 2018
Head of Asiana’s IT unit named new CEO

[THE INVESTOR] The head of Asiana IDT, the information and communications technology unit of Kumho Asiana Group, has been named the new president of Asiana Airlines, officials said on Sept. 7. Han Chang-soo will lead Korea’s second-biggest full-service carrier. The appointment came a day afte...
September 07, 2018
HHI CEO calls for sacrifice, concessions from employees

[THE INVESTOR] The head of Hyundai Heavy Industries called on employees to make sacrifices and concessions to keep afloat the troubled offshore facilities business on Sept. 7. The world’s biggest shipbuilder by sales suspended work at its offshore facilities in August as orders have dried up....
September 07, 2018
POSCO wins US environmental certificate

[THE INVESTOR] Korea’s leading steelmaker Posco has won an environmental certificate for its corrosion-resistant steel product from a US authentication agency, industry sources said on Sept.7. The product, named Posco magnesium alloy coating (PosMAC), obtained an environmental product decla...
September 03, 2018
POSCO to invest W45tr won to fuel growth

[THE INVESTOR] POSCO, the world’s fifth-biggest steelmaker by output, said on Sept. 3 it will invest 45 trillion won (US$40.4 billion) up till 2023 to fuel new growth. For the next five years starting in 2019, POSCO will spend 26 trillion won on upgrading its steelmaking facilities, 10 trilli...
August 31, 2018
KOTRA names new ombudsman for foreign investors

[THE INVESTOR] The Korea Trade-Investment Promotion Agency (KOTRA) said on Aug. 31 it has named the former procurement chief as ombudsman for foreign investors. Kim Sung-jin, former head of the Public Procurement Service, will serve as the trade body’s go-to person for handling business diffi...
August 30, 2018
Korean manufacturers’ outlook rebounds for Sept.

[THE INVESTOR] Korean manufacturing businesses’ expectations for the coming month rebounded on improved prospects in the chemicals and auto industries, central bank data showed on Aug. 30. The business survey index of manufacturers came to 77 for September, up from a 19 month-low of 73 record...
August 28, 2018
Hyosung chairman confirms solid ties with China’s Zhejiang province

[THE INVESTOR] Neither the lingering concerns over THAAD nor Washington’s persistent demands on denuclearizing North Korea could keep the governor of Zhejiang province away from Hyosung, one of South Korea’s 30 largest companies. On Aug. 25, Hyosung Group Chairman Cho Hyun-joon sat down with Yu...
August 27, 2018
Dayou Winia’s air purifier recognized as outstanding product in US

[THE INVESTOR] Dayou Winia, a Korean home appliances maker, said on Aug. 27 its portable air purifier, the Winia Spowasher, was recognized as one of the best appliances by a US evaluator. The evaluator TWICE named the product one of the best home care products on the market. The Winia Spowash...
August 26, 2018
GS to invest W20tr, hire 21,000 over next 5 years

[THE INVESTOR] Over the next five years Korea’s chemical and energy giant GS Group will invest 20 trillion won (about $18 billion) and create 21,000 new jobs to promote growth and market competitiveness, company representatives said on Aug. 26. The investment, 4 trillion won each year, is 25 per...
August 24, 2018
SK Innovation to invest W820b won in Chinese battery plant

[THE INVESTOR] SK Innovation said on Aug. 24 it will invest 820 billion won (US$730 million) in a battery plant in China, a move aimed at meeting growing demand for car batteries. In a joint venture with BAIC Motor Corp. and Beijing Electronics Holding, SK Innovation plans to build the 7.5 gig...

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