South Korea's 81 business groups posted a 46 percent on-year jump in their combined operating profit last year, helped by strong results on the part of leading players, a local corporate monitoring website said Wednesday.As of Friday, businesses that have released their preliminary earnings repo
South Korea's energy ministry said Wednesday it will make concerted efforts with the local nuclear industry and related associations to submit a winning proposal for Saudi Arabia's first nuclear power project, which is expected to select a contractor by the end of this year.The Ministry of T
South Korea will take proactive measures to boost exports to keep the growth momentum going despite rising protectionist policies by major trading partners and fewer working days in February, the trade ministry said Tuesday.The Ministry of Trade, Industry and Energy expected the export growth will s
The government said Monday that it will strengthen the punishment for big companies that steal technology owned by small and medium enterprises (SMEs) in the latest move to create a fair market.The measures -- released after a consultative meeting with the ruling party -- would make big companies pa
Businessmen from South Korea and Uzbekistan held a meeting in Tashkent on Monday to push for greater cooperation between the two nations, Seoul's finance ministry said.The meeting, also attended by government officials from the both sides, including South Korean Finance Minister Kim Dong-yeon, w
General Motors Co. will shut down one of its four car assembly plants in South Korea by the end of May due to lower demand for its vehicles, the local unit of the U.S. carmaker said Tuesday.The plant to be closed is in Gunsan, 270 kilometers south of Seoul. It has been underutilized, running at 20 p
South Korea's auto exports rose 10.4 percent in January from a year earlier, led by upbeat sales of SUVs and eco-friendly cars, government data showed Tuesday.A total of 196,835 units worth US$3.24 billion were shipped abroad in the first month of this year, up from 178,371 units in January the
Korean Air Lines Co., South Korea's largest national flag carrier, said Tuesday that it will enhance security for flights to the United States starting this week.Under the measures set to begin Thursday, all passengers on U.S.-bound flights from Incheon International Airport are required to go t
Nearly 30 subsidiaries of South Korea's family-controlled conglomerates may be newly subject to a ban on inter-affiliate trading when the nation's antitrust watchdog toughens a related rule, a market tracker said Wednesday.In a policy report last month, the Fair Trade Commission said it will
SK Group said Sunday the proportion of exports in its total sales reached a record high last year, on the back of the brisk performance of its energy and chip businesses.South Korea's third-largest business group booked combined sales of 139 trillion won (US$127.9 billion) in 2017. Overseas sale
In his New Year’s speech, Chairman Cho, who was appointed Hyosung CEO last year, delivered three key messages to his employees for 2018.First, he emphasized focus on all management activities for the company to be client and market oriented. The number of competitors is rapidly surging, he said, and
Last month Ambassador of Brazil H.E. Mr. Luis Fernando Serra, among Korean companies successfully working in the Brazilian market, expressed his deep gratitude to Hana Micron. This is due to the fact that Hana Micron managed to lay the basis for the Brazilian semiconductor industry by implementing K
Employees of South Korea's two major semiconductor manufacturers are set to receive big bonuses this month for their strong performance last year amid the global boom for chip industries, industry sources said Friday.Samsung Electronics Co. workers in the semiconductor sector will receive annual
South Korea's chief economic policymaker said Wednesday that the government would provide full support for new businesses sought by large firms through deregulation and other measures so they can create more jobs.In a meeting with senior executives of Hyundai Motor Group, including Hyundai Motor
The South Korean government said Wednesday it will step up efforts to promote consumption of local agricultural products ahead of next month's Lunar New Year in line with its implementation of the revised anti-graft law.The Ministry of Agriculture, Food and Rural Affairs announced a set of measu
South Korea's deficit in kimchi trade reached US$47.28 million last year, up 11 percent from the year before, as cheap products from China flooded in, customs office statistics showed Wednesday.Last year's deficit is the largest since the Korea Customs Service began to track data in 2000. Da
The annual operating profit of Starbucks Coffee Korea Co., the local unit of the U.S. giant, surpassed the 100 billion-won (US$94 million) mark for the first time last year, driven by solid demand from young consumers, industry sources said Tuesday.The operating profit of the coffee chain, which is
South Korean steelmaker POSCO said Monday its steel plant in Indonesia turned a profit after four years of operation, with accumulated sales exceeding 10 million tons.PT Krakatau POSCO, an integrated steel mill jointly set up by POSCO and Indonesia's state-run steel firm Krakatau Steel, shifted
The global chip market is anticipated to grow at a slower pace in the coming years through 2022, data showed Sunday, signaling the end of the unprecedented boom period.According to the data compiled by IC Insights, the global chip market is expected to grow 5.1 percent annually over the 2017-2022 pe
South Korea's top automaker Hyundai Motor Co. said Sunday the company aims to revitalize its sales in the United States by releasing eight new sports utility vehicle by 2020."(The company's) sales in the U.S. has been falling for the fifth consecutive years, as we failed to cope with market