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The Korea Herald

Industrials

August 21, 2019
Kepco’s losses pile up amid debate over anti-nuclear power policy

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...
August 20, 2019
Hanwha Q Cells tops US residential solar module market in Q1

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...
August 19, 2019
Korean Air, Asiana to reorganize cargo services amid losses

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...
August 19, 2019
Q3 profit outlook for 61% of listed firms cut on Japan trade row

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...
August 18, 2019
Incheon Airport expands overseas business portfolio

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...
August 01, 2019
Delta increases stake in Korean Air‘s parent firm

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...
July 29, 2019
Samsung C&T retains top spot in builder rankings

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, ...
July 28, 2019
How to keep use of steel in future cars

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...
July 28, 2019
Hyundai Glovis opens first SE Asia office in Vietnam

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 ...
July 24, 2019
Doosan breaks ground for copper foil plant in Hungary

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...
July 23, 2019
Posco’s net profit up 17% in Q2

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...
July 23, 2019
HHI to file damages suit against labor union

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....
July 21, 2019
Korea to make all-out efforts to lift Japan’s export restrictions

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...
July 16, 2019
Doosan to co-develop solid oxide fuel cell power systems with Ceres

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...
July 15, 2019
Lotte Chemical, GS Energy to invest W800b in petrochemical JV

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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