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US-based chemical firm Dupont on Jan. 9 announced its plan to invest $28 million in South Korea to build a production line for photoresist, which can potentially help Asia’s No. 4 economy reduce its dependence of the key industrial material on Japan amid their trade spat.Under the project, Roh...
Jeju Air, South Korea’s biggest low-cost carrier, said Dec. 18 it has signed a deal to acquire Eastar Jet to cement its leading status in the budget carrier market. The LCC will acquire a 51.17 percent stake in Eastar Jet for 69.5 billion won ($60 million) and sign a share purchase agreement ...
LG Uplus Corp., South Korea‘s No. 3 mobile carrier, on Dec. 15 said that it plans to invest 2.6 trillion won (US$2.2 billion) over the next five years to offer upgraded services after the country’s science ministry approved its acquisition of the country‘s top cable TV operator. ...
The number of executives at South Korea’s top 30 conglomerates fell 0.5 percent compared to 2015, amid a slowing economy, data showed Dec. 11. The data compiled by CEOScore, a research firm that tracks conglomerates, showed that the number of executives at 262 companies affiliated with the co...
Some 80 percent of firms listed on the local stock market expect their earnings to improve in the current quarter compared to a year, data showed on Dec. 10. According to the data compiled by market tracker FnGuide, combined operating profit of the 217 companies listed on the main bourse was estima...
Hanwha Systems, the defense industry unit of Hanwha Group, said Monday it has partnered with a US innovation platform to explore joint business opportunities. The company has signed a “strategic partnership” with Plug and Play, the world’s leading innovation platform for startups...
Hanwha Systems announced on Dec.8 that its $25 million investment in US-based air taxi startup Overair has got final approval from authorities.The two companies plan to jointly develop personalized aerial vehicles following the US Committee on Foreign Investment’s greenlight. Ov...
SK Innovation said Dec. 5 that it has built its first electric vehicle battery cell manufacturing plant in China. The completion ceremony for BEST -- a joint venture established by SK Innovation, Beijing Automotive Group and Beijing Electronics -- in Changzhou in the eastern Chinese province of Jia...
SK Innovation said Dec. 4 it has signed a six-year deal with Swiss-based Glencore PLC to secure supplies of cobalt, a key material used in EV batteries. Under the agreement, SK Innovation will receive a total of 30,000 tons of cobalt, which is enough to make batteries for 3 million EVs, from Swiss...
Doosan Bobcat said Dec. 3 it will acquire the zero-turn mower business of US grounds care equipment manufacturer Schiller Grounds Care. Under the agreement, Doosan Bobcat will acquire Schiller Grounds Care’s manufacturing facility in Wisconsin and its three brands of grounds care equipment -...
ULSAN -- SK Energy, an affiliate of SK Innovation, is set to complete the construction of its vacuum residue desulfurization facility in January, in time for the implementation of tighter environmental regulations. In response to heightening environmental concerns and growing harmful emissions from ...
S-Oil, headquartered in Seoul and wholly owned by Saudi Aramco, is unlikely to be affected by concerns about lower fuel prices and stricter environmental rules, according to analysts.The new International Maritime Organization rules -- IMO 2020 -- lowering the limit of sulfuric content in bunker fue...
South Korean steel firm Posco said on Dec. 1 that it would offer incentives to socially responsible firms from Monday as part of its own efforts to contribute to society. Socially responsible firms refer to companies that are recognized as such under three laws established to encourage entrepre...
GS Energy, a unit of energy and retail conglomerate GS Group, said Nov. 28 it has partnered with a Vietnamese asset management firm to build a power plant fired by liquefied natural gas there to tap into the local electricity market. The company has signed an initial agreement with VinaCapital Inve...
Large South Korean companies’ ability to service their debts worsened sharply in the first nine months of this year due to plunging profits, a corporate tracker said Nov. 27. The interest coverage ratio for 241 out of the country’s top 500 firms averaged 5.08 as of end-September, compar...
LG denies decision to pull out of 4th battery plant with GM
Lotte Duty Free wins rights to run Melbourne Airport shops
Hyundai-Kia EVs post double-digit market share in Europe
Korean biotech lobby expresses concerns over Biden executive order
Import car sales hit record high in 2022
Key takeaways of eased rules for foreign investors
Popeyes makes strong Korean comeback
Hyundai surpasses 1 million EV sales
January 27, 2023
