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The Korea Herald

Industrials

January 29, 2020
Korean firms scrambling to minimize fallout from Wuhan virus

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...
January 09, 2020
DuPont to invest $28m in S. Korea to build material production line

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 ...
December 18, 2019
Jeju Air to acquire Eastar Jet for expansion

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...
December 15, 2019
LG Uplus to invest 2.6 tln won after takeover of No. 1 cable TV operator

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 ...
December 11, 2019
Number of C-suite employees at top 30 groups falls 0.5% over 4 years

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...
December 10, 2019
More than two-thirds of listed firms expect earnings improvement in Q4

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...
December 09, 2019
Hanwha Systems partners with US startup

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...
December 08, 2019
Hanwha’s investment in Overair gets all-clear signal for takeoff

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...
December 05, 2019
SK Innovation completes EV battery cell plant in China

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...
December 04, 2019
SK Innovation, Glencore sign 6-year cobalt supply deal

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...
December 03, 2019
Doosan Bobcat to acquire Schiller Grounds Care’s zero-turn mower biz

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 -- ...
December 01, 2019
SK Energy to complete vacuum residue desulfurization in Jan.

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...
December 01, 2019
New IMO rules, lower fuel prices unlikely to affect S-Oil: analysts

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 ...
December 01, 2019
Posco to support socially responsible firms via preferential bidding system

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...
November 28, 2019
GS Energy to build LNG plant in Vietnam

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 ...

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