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Korean budget carrier Eastar Jet founder Lee Sang-jik, who is also a member of the ruling Democratic Party of Korea, said Monday that the ownership family will contribute all their shares, worth around 41 billion won ($34.2 million), to Eastar Jet to “save the company,” amid growing uncertainty i...
Asiana Airlines held an extraordinary shareholders meeting on June 15, and voted to raise capital by increasing shares and issuing convertible bonds. The South Korean flag carrier put to a vote its decision to revise its articles of association, calling for an increase in the total number of issu...
SK Innovation’s wholly owned subsidiary SK IE Technology, which makes separators for electric vehicle batteries, said on June 9 it will seek an initial public offering. Separator is one of the four key components of a lithium-ion battery, along with the cathode, anode and electrolyte. Accordin...
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, ...
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...
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...
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....
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...
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...
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...
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...
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...
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 ...
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 ...
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 ...
Hyundai Motor officially becomes KT’s largest shareholder
MBK defends Korea Zinc bid, refutes Chinese capital accusation
GS Caltex supplies eco-friendly fuel to Japan’s Narita Airport
Samsung CEO introduces ‘bold growth’ as new target
Hyundai Glovis to gain momentum as global car carrier shortage persists
LG Electronics partners with Ricoh to bolster B2B push