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The Korea Herald

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Industrials

Jan. 22, 2025
Hanwha heir strengthens US network at Trump’s inauguration

Hanwha Group Vice Chairman Kim Dong-kwan explores defense, shipbuilding cooperation with top US officials in Washington DC Hanwha Group Vice Chairman Kim Dong-kwan met with top US officials under the new Trump administration to bolster the Korean conglomerate’s global network as he attended the US president's inauguration ceremony in Washington DC earlier this week. According to Hanwha on Wednesday, Kim participated in a candlelight dinner at the National Building Museum the day before the cerem
Jan. 22, 2025
Samsung Biologics hits W4.5tr sales milestone

Samsung Biologics has made history by becoming the nation's first biotech company to hit 4 trillion won ($2.78 billion) in annual sales. The company reported on Wednesday consolidated annual sales of 4.54 trillion won and an operating profit of 1.32 trillion won for 2024. Sales increased by 23 percent compared to the previous year, while operating profit grew by 19 percent. On a standalone basis, Samsung Biologics recorded nearly 3.5 trillion won in annual sales, driven by strong performances fr
Jan. 22, 2025
Hanjin sets sales record for 2024

Korea’s logistics giant Hanjin Group achieved record sales of over 3 trillion won ($2.09 billion) last year, driven by its burgeoning global logistics business. The parent company of Korea's flag carrier Korean Air announced Wednesday that its 2024 sales reached 3.14 trillion won, up 7.4 percent on-year. Hanjin Group attributed its record-high sales to an increase in international forwarding volume, along with higher air and maritime cargo rates. Additionally, the company expanded its global net
Jan. 22, 2025
Samsung C&T reports solid 2024 growth on diversified business portfolio

Despite ongoing uncertainties in the global business environment, Samsung C&T achieved solid sales results, driven by its diverse business portfolios and competitive strengths, continuing its growth trend from the previous year. In 2024, Samsung C&T recorded sales of 42.1 trillion won ($28.96 billion), reflecting a 207 billion won increase, and an operating profit of 2.98 trillion won, up by 114 billion won from the previous year. The construction division posted sales of 18.65 trillion won and
Jan. 22, 2025
Why Trump is courting Korea for Naval shipbuilding efforts

Rise of China’s naval forces may trigger Trump administration to outsource building military ships in Korean shipyards Anticipation for Korean shipbuilders continues to build up as the second Trump administration is actively seeking ways to revamp its naval fleet to countermeasure China’s overwhelmingly dominant shipbuilding sector and formidable maritime forces. After the US president mentioned Korea’s cooperation in the maintenance, repair and overhaul, or MRO, business in a call with now susp
Jan. 22, 2025
US overnight stockbroker Blue Ocean opens office in Seoul

Blue Ocean ATS, an alternative trading service that bridges the gap between the trading hours in South Korea and the US, has set up an office in Seoul, in light of a system shutdown in August that left local investors in frustration. Blue Ocean Technologies, the operator of the exchange platform, announced Wednesday it has established a new office in Yeouido, western Seoul, known as the financial hub of Seoul. It explained the Seoul office will serve as a key base for Blue Ocean's operations acr
Jan. 22, 2025
Eximbank to offer W200b loan support for supply chain firms

The Export-Import Bank of Korea, or Eximbank, announced Wednesday it has signed a memorandum of understanding with the Korea Credit Guarantee Fund (Kodit) and the Korea Technology Finance Corporation (Kibo) to launch a financial support program aimed at stabilizing supply chains. The new initiative combines Eximbank’s loans with guarantees from the two institutions to provide financial relief for small and medium-sized enterprises and mid-tier companies involved in supply chain projects. The pro
Jan. 22, 2025
S-Oil shares tteokguk to celebrate Seollal

Korean oil refiner S-Oil on Wednesday held a donation event where the company shared tteokguk, or rice cake soup, with local residents in need to celebrate the Lunar New Year, Seollal. The event, held at Yeom-li Social Welfare Center in Mapo-gu, western Seoul, was attended by S-Oil CEO Anwar al-Hejazi, along with around 30 employees of the company. The tteokguk, served by the volunteers, is a traditional New Year dish symbolizing a fresh start. This year, the holiday falls on Jan. 29. “S-Oil has
Jan. 22, 2025
Korea Zinc proxy battle shapes up ahead of shareholder meeting

After a monthslong ownership battle between Korea Zinc’s current management and the MBK Partners-Young Poong alliance, shareholders of the world’s largest zinc smelter are expected to decide the company’s fate this week. At an extraordinary general shareholders meeting on Thursday, Korea Zinc Chair Choi Yoon-beam and his proxy fight rival, the MBK-Young Poong coalition, will seek to add their respective nominees to Korea Zinc’s board. The two parties’ competition for a stake in Korea Zinc, which
Jan. 22, 2025
Resort operator Sono Hospitality eyes T'way Air takeover

Korea’s leading resort operator, Sono Hospitality Group, has formally begun efforts to acquire management control of the local budget airline T’way Air with the aim of leveraging the aviation sector as a key growth engine. Sono International Co., the holding company of Sono Hospitality Group, announced on Wednesday that it plans to actively participate in T’way Air’s management. Its efforts include demanding operational improvements, seeking access to the shareholder registry and submitting shar

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