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Major South Korean companies are scrambling to minimize any possible fallout from the Wuhan coronavirus by pulling their staff out of China and curbing trips there, industry sources said Tuesday. Hyundai Motor Co. and its affiliate Kia Motors Corp. plan to evacuate family members of hundreds of th...
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, Rohm ...
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 w...
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 Ministry ...
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 con...
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 es...
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 and corpora...
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. Overair, previousl...
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...
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 Sw...
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 fro...
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 ...
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 entreprene...
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 ...
KB chief stresses role of finance in net-zero transition
Hyundai to produce Ioniq 5 with Indonesia’s batik design
[Bio USA] Samsung Biologics hints at sales push for new plant
LS Cable & System to build Korea's largest offshore wind farm
[Contribution] Uniting for safer food: enhancing global cooperation in food safety systems
Export dependency on China wanes
Airplane's exit door should not be difficult to open: survey
Ex-BMW designer joins Kia as exterior styling chief