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To blame or not to blame the performance of South Korea’s power generator on the anti-nuclear power policy? This question has emerged yet again following news of Korea Electric Power Corp.’s quarterly loss last week. State-owned Kepco said its operating loss reached 298.6 billion won ($248 milli...
South Korea’s Hanwha Q Cells topped the US residential solar module market in the first quarter, industry data showed Aug, 20. Hanwha Q Cell’s market share in the sector stood at 27 percent in the first three months of the year, sharply up 15.4 percentage points from a year earlier, according...
South Korea’s two full-service carriers said Aug. 19 they will suspend some domestic cargo services beginning in October as parts of efforts to trim its ballooning losses. Starting Oct. 1, Korean Air and Asiana Airlines said they plan to halt cargo delivery services at the country’s three reg...
South Korean brokerages have cut their third-quarter earnings forecasts for about 61 percent of major listed firms due to a Seoul-Tokyo trade spat, a market tracker said Aug. 19. Local securities companies expected 61.2 percent of the 224 companies listed on the main stock market, or 137, to se...
Incheon International Airport Corp. said on Aug.18 it has signed a memorandum of understanding with Indonesia’s state-run airport operator Angkasa Pura I for cooperation in overseas airport projects. The signing ceremony, attended by IIAC CEO Koo Bon-hwan, President Director of AP I Faik Fahmi an...
Delta Air Lines said on Aug. 1 it has increased its stake in Hanjin KAL, the parent company of Korean Air, in what it called a just investment. In a report to the bourse operator, the Korea Exchange, Delta said it increased its stake in Hanjin KAL to 5.13 percent from 4.3 percent. “The pur...
Samsung C&T, a construction affiliate of Samsung Group, has been named the top builder in South Korea for six straight years in terms of building capacity, data showed July 29. The company took the top slot among the 61,559 local construction firms evaluated, according to the Ministry of Land, ...
SONGDO, Incheon – As vehicles increasingly shift from gasoline to electric power, attention is turning to whether lighter materials such as carbon fiber reinforced polymers and aluminum will replace steel in car parts, frames and bodywork. But South Korean steel giant Posco thinks there is hope f...
Hyundai Motor Group’s logistics arm Hyundai Glovis is widening its overseas presence by opening its first Southeast Asian office in Vietnam. Hyundai Glovis Vietnam, which was launched on July 25, will serve as a bridgehead for the company to expand its business in the region, the firm said. The ...
Doosan Corp., the holding company of Doosan Group, said on July 24 the construction of its battery cooper foil plant in Hungary has officially begun. Doosan held a groundbreaking ceremony for the plant in Tatabanya Industrial Park in northwestern Hungary. The plant, which is expected to be comp...
Posco said on July 23 that its second-quarter net profit increased mainly due to the robust performance of its affiliates. Net profit reached 681.4 billion won ($577 million) in the April-June period on a consolidated basis, up 17 percent from a profit of 580 billion won a year earlier, the com...
Hyundai Heavy Industries, South Korea’s largest shipbuilder, will file a suit for damages this week against its labor union over disruptive action at the company‘s shareholders meeting in May and illegal strikes, company officials said on July 23. The firm claimed it lost 9.2 billion won ($7....
South Korea is sparing no efforts to persuade the international community this week to help press Japan withdraw its export restrictions on high-tech materials and impugn Tokyo’s reasoning behind its retaliatory measures. Early this month, Japan announced it would curb exports on Korea’s high-te...
Doosan Corp., a major fuel cell power systems developer in South Korea, said on July 16 it has signed an agreement with British fuel cell technology firm Ceres Power to co-develop a solid oxide fuel cell power system. Under the agreement signed in Seoul, Doosan and Ceres will jointly develop SO...
Lotte Chemical said on July 15 it will establish a petrochemical joint venture with GS Energy. The two companies signed an agreement to form a JV, tentatively named Lotte-GS Chemical Co., this year to produce chemical compounds like bisphenol A (BPA) and C4 fraction. Lotte Chemical will hav...
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