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The combined operating profit of listed firms is estimated to have nearly halved in the first quarter, mainly due to a slump by chipmakers and other market behemoths, data showed on April 29. According to the data, the combined operating profit of 40 listed firms is estimated at 15.5 trillion w...
Korea Gas Corp. is to set aside 4.7 trillion won ($4.06 billion) to build hydrogen infrastructure and develop related technologies by 2030 as part of the nation’s push toward next-generation energy, according to the state-run natural gas company on April 28. Kogas’ hydrogen plan comes as a foll...
Samsung SDI, the nation’s second-largest battery maker, sought to learn from a local fish-cake maker based in Busan, in an effort to innovate its operation and business strategies. Executives and employees of Samsung SDI looked at the example of family-run fish-cake maker Samjin Eomuk, which has...
Asiana Airlines , South Korea’s distressed No. 2 carrier, was placed on a watchlist for a possible downgrade by a Korean credit rating agency on April 23, despite its creditors’ plan to extend a 1.6 trillion won ($1.4 billion) relief package the same day. Related: Asiana share price soars on K...
Asiana Airlines’ share price soared over the daily limit of 30 percent to end at 7,280 won ($6.41) on April 15 following news that its largest shareholder, Kumho Industrial, had decided to sell off the airline to fight a cash crunch. Along with the airline, other affiliates of Kumho Asiana Group...
Cash-strapped Kumho Asiana Group is expected to submit a set of fresh self-rescue measures soon, including selling off its flagship unit, in a desperate move to get additional financial help from its creditors, industry sources said on April 15. Kumho Asiana and its nine creditors, led by the s...
Cash-strapped Kumho Asiana Group might be close to selling Asiana Airlines, after its restructuring plan was rejected by its creditors, industry sources said on April 12. A local media outlet reported that the group has decided to sell Asiana Airlines, a day after its creditors, including the stat...
The top financial regulator on April 11 expressed frustration about the self-rescue plan submitted by the cash-strapped Kumho Asiana Group, calling for its founding family to show sincerity in its appeal to save its flagship Asiana Airlines. Financial Services Commission Chairman Choi Jong-ku m...
South Korean entertainment companies are expected to post solid profit growth this year despite the scandal centered on a K-pop boy band member, a local market tracker said on April 11. According to forecasts by FnGuide, the operating profit for the big three labels -- S.M. Entertainment, JYP Ente...
Debt-ridden Kumho Asiana Group called on its creditors to inject 500 billion won ($439.17 million) to address its liquidity crisis through a business revamp plan it submitted to the state-led Korea Development Bank, according to the KDB on April 10. Related: Kumho Asiana creditors demand asset se...
A South Korean civic activist group on April 10 urged tougher regulations for disclosing the real estate assets of conglomerates to prevent speculation and price hikes. Related: Real estate assets of 5 conglomerates valued at W80tr Officials of Seoul-based Citizens’ Coalition for Economic Justi...
LG Chem said on April 9 that it has raised $1.56 billion by selling debts overseas to finance the expansion of its production facility. The company said demand for the debt amounted to $10.5 billion, the largest for any debt offering by a South Korean firm in overseas markets. The debt offe...
Doosan Infracore said on April 9 that it has showcased a 5G remote controllable excavator at an international trade fair in Germany. The excavator in Incheon, west of Seoul, South Korea was successfully operated via the latest super high speed network from a control station in Munich, where the...
Korean Air Chairman Cho Yang-ho has died from a chronic disease in the United States, the company said on April 8, just weeks after he was removed from the carrier’s board. The company said Cho passed away in the US, adding that he had been suffering from a lung cancer. The death followed ...
SK Innovation, a latecomer to the electric vehicle battery market, joined the ranks of the world’s top 10 players in terms of sales, industry data showed on April 4. According to the data by SNE Research, a market researcher on renewable energy, SK Innovation, also the country’s leading oil r...
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