South Korean companies are taking measures to keep fine dust from infiltrating into certain sensitive production facilities or to reduce their own emissions amid worsening dust pollution, industry sources said on Mar. 6, 2019.Manufacturers of semiconductors, TVs and home appliances are stepping up e
South Korean oil refiners, led by SK Innovation Co., are expecting their earnings to improve down the road on the back of a rise in refining margins, industry sources said on Mar. 7, 2019.SK Innovation and other refiners, including GS-Caltex Corp. and S-Oil Corp., reported weaker-than-expected earni
Hyundai Motor Co., South Korea's top automaker, said on Mar. 6, 2019 that it is reviewing an option to suspend one of its five plants in China to counter a slump in its sales in the world's largest auto market."We are reviewing a set of measures for plant operations in China to stay competi
South Korea's government said on Mar. 5, 2019 it kicked off the International Textile Fair in Daegu jointly with municipal authorities, inviting hundreds of textile and fashion firms from around the globe.The Ministry of Trade, Industry, and Energy and the Daegu metropolitan government is hostin
Slightly over 1 in 100 executives at South Korea's top 30 conglomerates are women, data showed on Mar. 5, 2019, pointing to a high C-suite glass ceiling in Asia's fourth-largest economy.As of end-September last year, 256 units of the leading business groups had 21 female directors, a mere 1.
South Korea is moving to designate fine dust concentrations as a disaster in law, part of its countermeasures to the nation's worsening air pollution problem, officials said Tuesday. If fine dust pollution is legally recognized as a disaster, the government will work out concrete criteria for da
Hundreds of private preschools nationwide postponed the start of the spring semester Monday in protest of the government's plan to scrutinize their use of state subsidies to prevent misappropriation.The institutions affiliated with the Korea Kindergarten Association (KKA) went ahead of their col
On Feb. 27, 2019, the Korean-German Chamber of Commerce and Industry (KGCCI) held the kick-off event for its fifth ‘Innovation Awards’, to announce the beginning of their search for this year’s most innovative companies.The ‘KGCCI Innovation Awards’, which marks its fifth year, was initiated in 2015
South Korea's industry ministry said on Feb. 22, 2019 it met officials from the European Commission and requested a positive review on easing safeguard measures against steel products that went into effect this month.Earlier this month, the European Union decided to impose a 25 percent tariff on
South Korea's industrial output edged up 0.8 percent in January from a month earlier due in part to increased production of cars and the service sector, government data showed on Feb. 28, 2019.The data compiled by Statistics Korea showed the output of cars rose 3.5 percent in January from a mont
Sejong University and Sejong Research Institute jointly held the Sejong Forum entitled “Where are we on our journey to the Fourth Industrial Revolution?” on February 4, 2019. Jeongwon Yoon, Country Director of World Wide Public Sector, Amazon Web Services (AWS) Korea, attended the event as a guest s
The de facto leader of the United Arab Emirates (UAE) visited Samsung Electronics Co.'s chipmaking plants just south of Seoul on Tuesday and met with Lee Jae-yong, vice chairman of the South Korean tech giant.Crown Prince of Abu Dhabi Mohammed bin Zayed Al-Nahyan arrived here earlier in the day
Samsung Electronics Co. on Feb. 21, 2019 unveiled its latest flagship smartphone, the Galaxy S10, along with a 5G variant, expanding its product lineup to better target the premium market.The South Korean tech giant introduced four variants of the Galaxy S10 with new features, expanded storage and m
Unionized workers at Hyundai Heavy Industries Co., the world's largest shipyard by sales, voted on Feb. 20, 2019 to strike in opposition to the planned takeover of Daewoo Shipbuilding & Marine Engineering Co., heralding a bumpy road for the mega deal between the two shipyards.Earlier this week,
South Korea's industry ministry said on Feb. 20, 2019 it hosted conferences in Australia and New Zealand to induce businesses from Oceania to make more foreign-direct investment (FDI) in Asia's fourth-largest economy.The Ministry of Trade, Industry and Energy said while Australia and New Zea
South Korea's industry ministry on Feb. 20, 2019 announced its first batch of locations to establish what it calls smart industrial zones, which will utilize high-end information and communication technologies to improve companies' productivity.The Ministry of Trade, Industry and Energy said
South Korea's finance minister said Wednesday that Seoul will become the first country in the world to start commercial operations of fifth-generation mobile network services next month.Hong Nam-ki made the announcement at a meeting with senior officials on innovation-led growth in Seoul.
This is the fifth installment in a series of articles on the major business groups of Korea by Business Editor Kim Tae-moon with the business/economics reporters of The Korea Post media. The article will also be published by the four other media outlets of The Korea Post, including www.koreapost.co.
Daewoo Shipbuilding & Marine Engineering Co., a major shipyard here, said Friday it has received an order to build a liquefied natural gas ship for a Greek company.Daewoo Shipbuilding will build the 174,000 cubic meter LNG carrier for Maran Gas Maritime Inc., the gas shipping unit of Angelicoussis S
Kumho Tire Co., South Korea's second-largest tiremaker, said Thursday its vice president Jeon Dae-jin has been named its new chief executive officer (CEO). Kumho Tire, controlled by Chinese tiremaker Qingdao Doublestar Co., said its board members approved Jeon's promotion to presiden