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Kia, South Korea's second-biggest carmaker, said Friday it will invest 38 trillion won ($28 billion) in future mobility solutions by 2028, while strengthening its gasoline hybrid vehicle lineup amid slowing sales of electric vehicles. The planned investment over the next five years is revised up f...
LG Electronics said Friday its operating profit for the first quarter of this year fell more than 10 percent from a year earlier due to rising costs and intensifying competition. Its first-quarter operating profit came to 1.33 trillion won ($984.9 million), down 11 percent from 1.5 trillion won a ...
Hanwha Aerospace, a South Korean defense company, said Friday it will focus on the defense and aviation business after spinning off two affiliates by September. Hanwha Aerospace will spin off its two wholly owned units -- artificial intelligence solutions firm Hanwha Vision and semiconductors equi...
Electric vehicle sales in South Korea plunged 25 percent in the first quarter from a year earlier, while gasoline hybrid model sales jumped 46 percent during the same period, according to a market tracker Friday. From January to March, the country's EV registrations fell to 25,550 units from 34,18...
South Korean tech giant Samsung Electronics said Friday its operating profit for the first quarter is estimated to have shot up more than tenfold on rebounding demand for memory chips, beating market expectations. The world's biggest maker of memory chips expected a first-quarter operating profit ...
By Moon Joon-hyun ( mjh@heraldcorp.com ) The Korea Herald
CJ Foodville, the operator of bakery chain Tous Les Jours and a subsidiary of South Korean food giant CJ Group, achieved its highest-ever operating profit of 45.3 billion won ($33.6 million) last year. Some 60 percent of the profit stemmed from overseas ventures in key markets like the United State...
The Korea Agro-Fisheries & Food Trade Corp. on Thursday said it has been recognized by the US-based New York Festivals Advertising Awards for its environmental, social and governance efforts, marking the first time a Korean government agency has won in the ESG category. The Korea Agro-Fisheries & ...
S-Oil announced Thursday that it has become the first refinery in South Korea to achieve three International Sustainability & Carbon Certification (ISCC) certificates: ISCC CORSIA, ISCC EU, and ISCC PLUS. This certification, also known as the Carbon Offsetting and Reduction Scheme for Internationa...
LG Energy Solution (LGES), South Korea's leading battery maker, said Thursday it has begun the construction of its $5.5 billion battery plant in Arizona, with an aim to start operations in 2026. LGES plans to produce 46-Series cylindrical batteries for electric vehicles (EVs) and lithium iron phos...
Jill Vidal, Renault's design director, introduced the all-electric crossover Renault Scenic E-Tech and its launch in the Korean market next year. He particularly emphasized its sustainable design, which incorporates up to 24 percent recycled materials and is 90 percent recyclable, including the bat...
Hyundai Motor Group has become the largest shareholder of the nation's telecom giant, KT Corp. -- a rare move that is driving speculation about the carmaker's investment strategy and the possible impacts on KT's business direction. The change came as the National Pension Service, previously the la...
Hyosung TNC, the fiber production unit of South Korean industrial giant Hyosung Group, said Wednesday it will invest 1 trillion won ($740 million) in Vietnam to establish a new spandex material plant. Hyosung TNC secured approval for the investment from the Vietnamese government during a city deve...
South Korean builders Samsung E&A and GS Engineering & Construction have secured a contract worth a combined total of $7.2 billion for the construction of a substantial gas plant in Saudi Arabia, the two companies announced Wednesday. The landmark deal represents the largest plant construction agr...
HD Hyundai Marine Solution, an industry leader in ship life cycle maintenance formerly known as Hyundai Global Service, has set forth a revenue-doubling strategy within a five-year horizon, as it gears up for what is expected to be Korea's largest initial public offering in the first half of 2024. ...
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