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Experts discuss measures to tackle severe drought DAEJEON -- Scientists, government officials and representatives of global environmental organizations gathered in Daejeon City on Thursday to discuss water shortage around the world and possible response measures at the 2019 International Drought F...
Hanwha Q Cells said on May 23 it topped Britain’s solar module market in 2018 for the second straight year. Its market share in the sector stood at 13.6 percent last year, up 3.8 percentage points from 2017, the company said, citing industry data compiled by market tracker EuPD Research. T...
Energy-to-telecom conglomerate SK Group said on May 16 it will invest $1 billion in Vietnam’s leading conglomerate in a bid to expand its presence in the Southeast Asian market. SK Group said it has signed a deal to buy a 6.1 percent stake in Vingroup, with the deal also calling for a strategi...
A total of 38 firms newly made the list of South Korea’s top 500 companies by sales in 2018, with Samsung Electronics retaining the No. 1 spot, a corporate tracker said on May 15. The newcomers included fiber manufacturer Hyosung TNC, which placed 163rd, the highest among them, according to CE...
LS Cable & System, South Korea’s leading wire and cable manufacturer, said Wednesday its new Polish plant has started production as it aims to expand its presence in the European market. The company became the first Korean cable maker to have a production base in Europe after completing constr...
South Korea ranked second for a second straight month in April in terms of new shipbuilding orders, falling far short of orders won by Chinese rivals, industry data showed on May 14. In April, Korean shipbuilders secured orders totaling 280,000 compensated gross tons to build seven ships, accou...
Lotte Group, South Korea’s retail-to-chemicals conglomerate, has been accelerating its move to tap deeper into the United States, the world‘s largest economy, with its cumulative investments reaching some $4 billion in production facilities and other areas, industry sources said on May 14. In...
KT&G, South Korea’s dominant tobacco company, said on May 9 its first-quarter net profit rose 11 percent from a year earlier on increased overseas sales. Net profit for the January-March quarter rose to 276 billion won ($235 million) from 249 billion won in the year-ago period, the company sai...
Hanwha Chemical said May 8 its first-quarter net profit plunged 59 percent from a year earlier due to increased oil prices. Net profit for the January-March period fell to 120 billion won ($125 million) from 293 billion won a year ago, the company said in a statement. “In the first quarter...
Asiana Airlines said on May 7 it will streamline its international routes and stop operating first class cabins in September to cut costs ahead of its planned sales. The firm said it will suspend operations of the nonprofitable routes from Incheon to Khabarovsk and Sakhalin in Russia and Delhi ...
Jeju Air, South Korea’s biggest low-cost carrier by sales, on May 7 said that it posted a 14 percent on-year jump in first-quarter net profit on an expanded fleet and focus on Asian routes. Net profit for the January-March period climbed to 42 billion won ($36 million) from 37 billion won a ye...
Hyundai Heavy Industries said on May 2 it swung to black in the first quarter of the year from a year earlier. Net profit reached 17.3 billion won ($14.8 million) in the January-March period on a consolidated basis, compared with a loss of 132 billion won a year earlier, the company said in a r...
Troubled carrier Asiana Airlines said on May 2 it has offered a voluntary retirement program in an effort to make itself more attractive ahead of its planned sale. The early retirement offer covers Asiana employees with 15 years or more of continuous service at South Korea’s No. 2 airline. ...
Korean Air said on May 1 it will start reducing first class cabins on some international routes next month in a move to operate routes effectively and boost profitability. Airlines traditionally have three travel classes -- first, business and economy. Korean Air has provided three travel c...
Dividends paid by local listed firms grew from a year earlier last year, with their average dividend payout ratio also rising, industry data showed on April 29. The total amount paid by 753 local firms listed on the main bourse Kospi came to about 30.4 trillion won ($26.3 billion) last year, up...
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