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Sat, July 2, 2022 | 20:59

Unionized truckers' strike extends to 6th day

The national strike by unionized cargo truckers under the Korean Confederation of Trade Unions (KCTU) is expected to continue for the time being, as a ten-hour round of negotiations between the transport ministry and key KCTU officials failed to reach an agreement, Saturday, according to industry watchers, Sunday.

Lee Kyung-min | 2022-06-12 16:30

Samsung Electronics rated world's 22nd largest company by market cap

Samsung Electronics, Korea's leading tech firm, was the world's 22nd-largest company in terms of market capitalization, down seven notches from a year earlier, data showed Sunday.

2022-06-12 16:07

Tech expert to lead McKinsey Korea

McKinsey & Company Senior Partner Song Seung-heon will start leading the global management consultancy's Korea office from Monday as its new managing partner, the company said, Sunday. He has advised leading companies in the automotive, engineering and construction sectors, guiding successful turnarounds and performance transformation programs, since he joined McKinsey in 2002

Park Jae-hyuk | 2022-06-12 16:04

Samsung chief visits Germany to seek cooperation with carmakers, semiconductor-related firms

Samsung Electronics Vice Chairman Lee Jae-yong visited Munich, Germany reportedly to seek cooperation with automakers and semiconductor-related firms. Munich hosts the headquarters of BMW and semiconductor-related firms such as Siemens, according to company officials. Lee's chartered flight, which arrived in Budapest, Hungary, on June 7, departed for Munich the following day.

Kim Hyun-bin | 2022-06-12 15:17

Kumho Petrochemical heir to join board of directors

Kumho Petrochemical plans to appoint Chairman Park Chan-koo's oldest son, Senior Executive Vice President Park Jun-kyung, as the new executive director next month in an apparent attempt to accelerate a family succession. The petrochemical firm said in its regulatory filing Friday that it will hold an extraordinary general meeting of shareholders on July 21 to vote on the prop...

Park Jae-hyuk | 2022-06-12 14:54

McDonald's seeks to sell Korean unit amid intensifying competition

McDonald's is moving to sell its Korean branches as more companies enter the overly-crowded fast food market here, the company said Friday. The U.S. fast food giant first attempted to dispose of its Korean business back in 2016 but failed to do so as potential buyers opted out, due to high sales prices and other reasons. Mirae Asset Securities has been selected as a sales man...

Kim Jae-heun | 2022-06-11 10:44

Hyundai, Kia suffer disruptions due to truckers' strike

Recently built cars are being driven one by one out of automotive factories, due to a lack of transport trucks amid an ongoing strike by cargo truckers, according to industry officials Friday.The government issued temporary permits enabling the carmakers to do so, in order to shorten delays in deliveries of the new cars to customers.

Baek Byung-yeul | 2022-06-10 17:47

Korean food firms succeed in Vietnam by targeting young people

Korean food firms have been riding high on the popularity of hallyu, or the Korean wave, in Vietnam, building a loyal customer base among young people there, according to company officials Friday. More than half of the Vietnamese population are under 35 and one out of four people there are under 15.

Kim Jae-heun | 2022-06-10 16:54

Yoon says labor, management should resolve disputes themselves

President Yoon Suk-yeol said Friday that disputes between labor and management should be resolved by the parties involved without government intervention. Yoon made the remark as thousands of unionized cargo truckers continued a nationwide strike for the fourth day to demand basic wage guarantees amid soaring fuel prices.

2022-06-10 11:55

30 unionized truckers detained for alleged business interference

30 unionized truckers detained for alleged business interference

Thirty striking truckers have been taken into police custody since the start of their walkout for allegedly obstructing the business of non-striking truck drivers and other charges, officers said Friday. The members of the Cargo Truckers Solidarity, under the wing of the Korean Confederation of Trade Unions, have been apprehended across the country since the union began the w...

2022-06-10 10:07

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