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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 ...
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, compared wit...
BUSAN -- Some 75 trade agencies from 10 Southeast Asian countries gathered at the ASEAN-ROK Business Expo for a two-day investment seminar as part of the commemorative summit held in Busan, the Korea Trade-Investment Promotion Agency said Nov. 26. The seminar, dubbed Invest ASEAN 2019, featured bo...
The number of newly established firms in South Korea fell nearly 7 percent in the first nine months of the year on a one-off factor, data showed Nov. 25. A total of 945,322 new businesses were set up in the January-September period, down 6.7 percent from a year earlier, according to the data fr...
Air New Zealand on Nov. 25 began flight services to South Korea to absorb growing travel demand from Asia’s fourth-biggest economy. On Nov. 23 (local time), Air New Zealand flight NZ75 departed Auckland International Airport for Seoul’s Incheon International Airport for the first time in more...
Samsung Heavy Industries, the world’s second-biggest shipbuilder by orders, said Nov. 25 it has received a $1.5 billion LNG carrier order. Under the deal with an unidentified client in the Eurasian region, Samsung will build the LNG carrier by September 2022, the company said in a regulatory f...
After a brutal downturn this year, South Korea’s memory chip industry is expected to start recovering in 2020, led by growth in demand for 5G-enabled devices and the resumption of investments in data centers, according to industry observers on Nov. 24. “The fundamentals of the semiconductor indu...
SK Energy said Nov. 20 its solar power facilities will begin commercial operations in the upcoming months as the company further expands its presence in the environment-friendly energy market. The company said its truck service station in Changwon, South Gyeongsang Province, will produce electr...
Korean Air flight KE 905 collided with another plane on the taxiway in Frankfurt, Germany, on Saturday, delaying the subsequent flight bound for Incheon, the air carrier said Sunday. The incident involving the flight that departed from Incheon occurred Saturday at 6:20 p.m. (local time). While wa...
Doosan Bobcat Inc., a construction equipment unit of Doosan Group, said Sunday it has set up a global center in the US for business cooperation across the globe. The Global Cooperation Center built in Minnesota will serve as the “control tower,” which will develop new products and share the comp...
A consortium led by cosmetics-to-airline conglomerate Aekyung Group and two other consortia have submitted final bids for Asiana Airlines, industry sources said Nov. 7. The Aekyung-Stone Bridge Capital consortium, the HDC-Mirae Asset Daewoo consortium and the consortium of Korea Corporate Gover...
Major telecom operator KT and leading shipbuilding conglomerate Hyundai Heavy Industries said Nov. 7 they will step up collaboration to develop advanced smart factory solutions based on the 5G network to improve efficiency and safety. In May, the two companies signed a memorandum of understandi...
LG Chem on Nov.7 opened its new petrochemical tech center to boost its competitiveness in the sector. The company said its petrochemical tech center in Osan, some 50 kilometers south of Seoul, has been completed after investing 110 billion won ($94 million). The facility replaces its previous t...
Bank of Korea eyes rate cut after US Fed's historic pivot
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