Korea’s auto output, exports in May see year-on-year increases.The Ministry of Trade, Industry and Energy announced on June 13 that the Korea’s automobile production increased 4.1 percent to 366,152 vehicles in May compared to the same period last year.This growth in output was mostly attributable t
Samsung Electronics Co. has been facing a double whammy of the weak memory chip and smartphone market, as well as uncertainties from a trade war between the United States and China, so it is the right moment for its senior management to discuss ways to deal with the rising business challenges.Starti
South Korea's jobless rate remained flat at 4 percent in May from a year earlier, and job additions again exceeded the 200,000 mark, government data showed Wednesday.The number of employed people reached 27.32 million in May, an increase of 259,000 from the same month in 2018, according to the d
Energy-to-telecom conglomerate SK Group has announced to invest US$ 1 billion in Vietnam's leading conglomerate to expand its position in the Southeast Asian market.SK Group stated that they have decided to buy a 6.1 percent stake in Vingroup, which will also resutl in strategic partnership betw
Unionized workers at Hyundai Heavy Industries Co. set out to protest on Thursday against a merger which will result in a split up of the company.The unionized workers began their 4 hour protest at the company's headquarters in Ulsan, approximately 400km southeast of Seoul. They will go ahead wit
LG Chem Ltd., South Korea's top chemicals company, has been chosen to supply EV batteries to Swedish automotive company Volvo Car Group.LG Chem stated that it has successfully signed a multiyear contract with Volvo to supply lithium ion batteries. The batteries will also be used for Volvo’s elec
The chief of Renault Samsung Motors Corp., the South Korean unit of Renault SA of France stated on Wednesday that the Korean R&D center will need to play a key role.Dominique Signora said Renault Technology Korea will play a vital role for the French automotive company under the expansion of Renault
The first quarter net profit fell 13.7% compared to its previous year for Daewoo Shipbuilding & Marine Engineering Co., a major South Korean shipbuilder due to a decline in sales.Their balance sheet for Q1 this year states that net profit reached 195 billion won for the period January-March in contr
Dongkuk Steel Mill Co, South Korea's third-largest steelmaker has returned to making profit in the first quarter of 2019. The main reason was due to reduced valuation loss form its Brazilian Steel mill which they have a large amount of stake in.For the period January-March, net profit was 700 mi
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
The chief of South Korea's major public broadcaster MBC was questioned by the labor ministry early Tuesday over allegations that he violated labor laws and unfairly exerted influence over personnel affairs at the company based on political bias.Kim Jang-kyom, president and CEO of MBC, appeared a
The Citibank Korea Inc. (CEO Jin-Hei Park, www.citibank.co.kr) was awarded Mobile Banking Initiative of the Year for Korea on July 25, 2017 for its mobile app from the renowned Asian Banking & Finance magazine, host of the 2017 ABF Awards. An awardee was selected from each country in Asia.Citibank K
A-Ha Waterproof Technology Co., Ltd, a provider of world-level waterproof technology specializing in leakage prevention, is recognized in the international communities, such as the United States and China.Since its unique ‘dry adhesive complex sheets waterproof method’, a waterproofing technology, w
“KOREEL has seen its shipments to the U.S. increasing by a whopping 1,800 percent to date since acquiring the AEO (Authorized Economic Operator) certificate from the government,” Oh Hyun-Kyu, president of KOREEL Co., Ltd., one of South Korea’s top industrial reel manufacturers, spoke in capitals in
The following are excerpts from an interview with CEO Patrick Johansson of Ecricsson-LG conducted by The Korea Post media.—Ed.Question: What are your strong points and competitive edge over you competitors in Korea and around the world?Answer: One of our core competencies is the industry's
Korea Electric Power Corporation (KEPCO) launched on June 15, 2017 initial pressurization and trial operation of a 28MW solar photovoltaic power plant in Chitose, Hokkaido, Japan. This is KEPCO’s first solar photovoltaic power plant combined with energy storage system (ESS) built overseas, generatin
Hyundai Motor, a global leading automaker, supported the Second Annual Conference of the Asian Infrastructure Investment Bank (AIIB) recently held in the resort island of Jeju by providing 110 transport vehicles.Prior to the annual meeting of the AIIB board of governors held on June 16~18, 2017 at t
A continuing supply shortage of the latest smartphone made by Samsung Electronics Co. is leaving many of the early buyers in South Korea without a new phone in their hands, as the tech giant has failed to predict demand and ready stock in time, industry sources said Saturday. Samsung began t
Troubled Daewoo Shipbuilding & Marine Engineering Co. has to implement bold self-restructuring efforts and win more shipbuilding deals at reasonable prices in order to stand on its own feet, as its creditors are set to inject another batch of cash into the shipyard soon, analysts said Saturday.Holde