Hyundai Samho Heavy Industries Co. said on April 19, 2019 that it has clinched a deal to supply container cranes for a major port construction project in Singapore.The South Korean shipbuilder, an affiliate of Hyundai Heavy Industries Group, said it recently signed a contract with Singpore's PSA
South Korea agreed with the Philippines to launch bilateral free trade talks soon as part of efforts to bolster economic ties, Seoul's trade ministry said Wednesday.South Korea's Trade Minister Yoo Myung-hee met her Philippine counterpart, Ramon Lopez, during a visit to Manila, where the two
The heir apparent of logistics-centered Kumho Asiana Group said on April 16, 2019 that the sale of its flagship unit, Asiana Airlines Inc., is open to any investors as he vowed to make his utmost effort to save the cash-strapped conglomerate.Pressured by its creditors, Kumho Asiana on April 15, 2019
Cash-strapped Kumho Asiana Group said Monday that it will put its flagship Asiana Airlines Inc. up for sale to secure a fresh loan from creditor banks, sending shares in the carrier sharply higher.The group's decision to sell Asiana Airlines came after creditors, led by the state-run Korea Devel
South Korean telecom firm KT Corp. and Kakao Corp.'s transportation unit said Monday they will collaborate to develop a new mobility platform to tap into the great potential of the rising technology segment. The telecom operator and Kakao Mobility signed a memorandum of understand
Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipyard, said on April. 10, 2019 that it has secured a deal to build a liquefied natural gas carrier.Under the deal with Maran Gas Maritime Inc., the gas shipping unit of Angelicoussis Shipping Group, Daewoo Shipbuilding will delive
VinFast Trading and Production Ltd (a subsidiary of Vingroup) and LG Chem Ltd (a subsidiary of South Korean LG Group) on April 5, 2019officially announced the establishment of their joint-venture company for battery pack production following international standards.The plant is located in VinFast’s
A devastating fire has engulfed the northeastern border town of Goseong, leading to one death, at least 11 injuries, and damage to numerous buildings and houses. According to the Gangwon Fire Headquarters, the fire broke out on a roadside in Goseong, around 210 kilometers northeast of Seoul, at arou
Samsung Electronics Co. said Friday its operating earnings likely plunged in the first quarter from a year earlier amid falling memory chip prices and weak demand for display panels. The operating profit was estimated at 6.2 trillion won (US$5.45 billion) in the January-March period, a 60.4 percent
South Korea's three major mobile carriers on Apr. 3, 2019 celebrated the world's first commercialization of a 5G network as they opened new mobile services for honorary customers.According to industry insiders, SK Telecom Co. the nation's top mobile carrier, began its 5G mobile service a
SK Innovation Co., 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 Apr. 4, 2019.According to the data by SNE Research, a market researcher on renewable energy, SK Innovation, also the country's lead
The state-run energy corporation of the United Arab Emirates (UAE) lodged a protest against Korea Hydro & Nuclear Power's decision to remove experts from the Barakah nuclear plant, a lawmaker said on Apr. 3, 2019.The Emirates Nuclear Energy Corp. (ENEC) sent a letter to the Korea Electric Power
South Korea's industry ministry said on Apr. 3, 2019 it will take active steps to lead the standardization of technologies in hydrogen power generation in line with the new energy vision the government announced in January.Under the plan, South Korea will make efforts to lead standardization of
South Korea's exports moved down 8.2 percent in March from a year earlier, government data showed Monday, due to falling global prices of chips coupled with the slowing Chinese economy. Outbound shipments came to US$47.1 billion for March, down from the $51.3 billion tallied a year earlier, acco
A South Korean public company has been in talks with a local bank, an insurance firm and a brokerage firm to create a US$100 million fund for infrastructure projects in Eurasia, an official said on Mar. 27, 2019.The Korea Overseas Infrastructure & Urban Development Corp. (KIND) is trying to attract
South Korea's industry ministry said on Mar. 28, 2019 an agreement has been reached with its Chinese counterpart to work together on reducing their dependency on coal-based power plants and seek more environmentally-friendly energy sources that can help reduce fine dust.The Ministry of Trade, In
Outside directors at South Korea's major listed firms voted for nearly all agenda items for board meetings in 2018, sparking suspicions that they serve as mere rubber stamps, a corporate tracker said on Mar. 27, 2019.According to CEO Score, independent directors at 251 listed units of 57 conglom
South Korea's finance minister said on Mar. 27, 2019 that SK hynix Inc.'s semiconductor cluster could create some 17,000 new jobs as he vowed to ensure construction will start by 2021.Hong Nam-ki outlined the government's resolve to support the massive project at a meeting aimed at revit
A Seoul court refused a prosecution request early Tuesday for a warrant to arrest a former environment minister on charges that she abused her power by forcing those considered critical of the incumbent administration to step down from their posts. The Seoul Eastern District Court ruled that Kim Eun
KT Corp., a South Korean mobile carrier, operated a de-facto lobby team of politicians, ranking government officials, retired police officers and other influential figures following the inauguration of its chairman, Hwang Chang-gyu, in early 2014, a lawmaker said Sunday. The firm has paid a total of