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South Korea’s biggest mobile carrier SK Telecom said on June 16 it will develop the sixth-generation network technology with Nokia and Ericsson, as the Korean government seeks to enhance economic ties with Nordic countries. The telecom firm signed memorandums of understanding for research and de...
An Incheon court on June 13 issued suspended prison terms to the widow and elder daughter of the late Korean Air Chairman Cho Yang-ho for smuggling luxury goods by making use of the airline’s planes. The Incheon District Court sentenced the late chairman’s wife, Lee Myung-hee, 70, to six mont...
SKC, a chemical unit of SK Group, said on June 13 it has decided to acquire KCF Technologies, the world’s top producer of copper foil for lithium-ion batteries, in a bid to diversify its business portfolio. The South Korean firm said it will buy a 100 percent stake in KCFT, currently owned by ...
LG Chem said on June 13 it will establish an electric vehicle battery joint venture with Geely Automobile Holdings in China in a push to tap deeper into the neighboring country’s fast-growing EV market. Under their agreement signed in Ningbo, Zhejiang province, China, LG Chem and Geely agreed ...
South Korea’s increasingly stringent environmental regulations are hobbling its steel industry, already beset by falling sales and rising raw material prices. Last week, three regional governments representing South Chungcheong Province, North Gyeongsang Province and South Jeolla Province insiste...
South Korea’s tech giants including Samsung Electronics and SK hynix are increasingly on edge over the ongoing economic brinkmanship between the United States and China, in light of a reported warning from Beijing not to cooperate with the Trump administration’s China ban, according to indust...
The value of Big Hit Entertainment, the agency of the global K-pop sensation BTS, is estimated to be more than $1 billion, a local researcher said on June 6. According to a report released by the Hyundai Research Institute, the value of the agency is estimated at between $1.1 billion to $2 bill...
South Korea’s activist fund Korea Corporate Governance Improvement is likely to take legal action on the possible irregularities in Hanjin KAL ’s succession process. KCGI seeks to nominate an inspector to look into whether heir apparent Cho Won-tae was nominated as chairman of Hanjin Group “i...
Corporate sales and profit growth slowed last year in the face of the decelerating export growth, while corporate financial health improved on reduced borrowing, central bank data showed on June 4. In 2018, sales of nonfinancial companies here rose 4.2 percent, slowing from a 9.9 percent on-yea...
An annual meeting of the world’s largest organization for air carriers kicked off June 2 for the first time in Seoul, bringing some 1,000 market leaders from 290 air carriers together to discuss the future of air transport under the theme “The Vision for the Future.” Dubbed the aviation industr...
South Korean battery maker LG Chem said June 2 its vice chairman hosted the firm’s first-ever recruitment event in Europe over the weekend, as part of efforts to search for global talent. On June 1, Vice Chairman and CEO Shin Hak-cheol hosted the event in Frankfurt, Germany, attended by 30 underg...
Asiana Airlines on June 1 hosted a meeting of CEOs from Star Alliance member carriers for the first time in Seoul, to strengthen efforts in elevating the brand value of the world’s largest global airline alliance. The gathering was held on the sidelines of the International Air Transport Associat...
BUSAN – The city of Busan and Singapore’s Changi Airport Group on June 1 signed a memorandum of understanding to increase the air transport volume between Busan and Singapore and strategically support trade, business and tourism. The partnership between Busan and Changi Airport comes as Korea’s...
South Korea’s state pension operator cut the number of listed firms in which it has a stake of 5 percent or more in the first quarter of the year in an apparent bid to boost its investment returns, a corporate tracker said on May 29. The National Pension Service owned 5 percent or more of 281 ...
South Korea’s listed firms saw their financial health worsen in the first quarter of the year, data showed on May 27, amid an economic slowdown. The average debt-equity ratio of 640 companies listed on the main Kospi bourse, came to 110.7 percent as of end-March, sharply up 6.37 percentage poi...
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