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Hanwha Solutions said on May 19 it has invested in a solar power software company, diversifying its business portfolio that is currently focused on hardware such as solar power cells and modules. This is the first investment finalized by the Hanwha Group affiliate since Vice President Kim Dong-kw...
Korea Electric Power Corp. said on May 15 that it recorded 430.6 billion won ($350.1 million) in operating profit in the first quarter this year, swinging back into the black in three years. The state-run utility witnessed 430.6 billion won in operating profit, a 1-trillion-won increase on-year f...
Hanjin KAL said Thursday it will inject 300 billion won ($244.3 million) in Korean Air by selling its assets and through mortgage loans, one day after the airliner’s board decided to raise 1 trillion won by selling new stocks as part of a self-rescue plan. The parent company of Korean Air curre...
The novel coronavirus outbreak has ruffled the power dynamics of the buyer-and-seller relationship between European automakers and South Korean battery makers, according to industry sources and market watchers. Though electric vehicle battery manufacturers are typically in a position to lure orde...
South Korean chemical and battery firm LG Chem on April 28 reported a swing to operating profit of 236.5 billion won ($192.7 million) in the first quarter by minimizing losses in its battery business. The Korean battery manufacturer cut its operating loss in the battery business by 80 percent to ...
SK hynix, the second-largest memory chipmaker in the world, announced an earnings surprise on April 23, with a 239 percent on-quarter increase in its operating profit in the first quarter. Despite concerns about a coronavirus downturn in the global economy, the South Korean chipmaker posted 7.19 ...
SK E&S has sold its entire stake in a Chinese private gas company to prevent a liquidity crisis as demand in the energy market plunged since the global coronavirus pandemic. The energy unit of SK Group said it sold all of its 10.25 percent stake (535 million shares) in China Gas Holdings through ...
Leading chemicals company LG Chem said it is joining the UN Sustainable Development Goals to enhance the value of society and environment with its eco-friendly, energy and youth education corporate social responsibility programs. Education for young generation One of the company’s efforts includ...
The US’ International Trade Commission has made a default judgment in favor of LG Chem in its suit against SK Innovation, LG Chem said on Feb. 16, hinting that the end is near in the legal tug-of-war between the two Korean battery makers. A default judgment occurs when a court rules in favor of ...
Hanjin KAL, the holding company of Hanjin Group, held a board meeting on Friday, to have the chairman of the board of directors be elected by the board to separate the position of its company president and the board chair. The board also decided to reorganize the hotel and leisure business that f...
Major South Korean companies are scrambling to minimize any possible fallout from the Wuhan coronavirus by pulling their staff out of China and curbing trips there, industry sources said Tuesday. Hyundai Motor Co. and its affiliate Kia Motors Corp. plan to evacuate family members of hundreds of th...
US-based chemical firm Dupont on Jan. 9 announced its plan to invest $28 million in South Korea to build a production line for photoresist, which can potentially help Asia’s No. 4 economy reduce its dependence of the key industrial material on Japan amid their trade spat. Under the project, Rohm ...
Jeju Air, South Korea’s biggest low-cost carrier, said Dec. 18 it has signed a deal to acquire Eastar Jet to cement its leading status in the budget carrier market. The LCC will acquire a 51.17 percent stake in Eastar Jet for 69.5 billion won ($60 million) and sign a share purchase agreement w...
LG Uplus Corp., South Korea‘s No. 3 mobile carrier, on Dec. 15 said that it plans to invest 2.6 trillion won (US$2.2 billion) over the next five years to offer upgraded services after the country’s science ministry approved its acquisition of the country‘s top cable TV operator. The Ministry ...
The number of executives at South Korea’s top 30 conglomerates fell 0.5 percent compared to 2015, amid a slowing economy, data showed Dec. 11. The data compiled by CEOScore, a research firm that tracks conglomerates, showed that the number of executives at 262 companies affiliated with the con...
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