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Wed, May 18, 2022 | 21:05

WeWork vows to offer Korea-specific services

WeWork Korea, a local unit of multinational office-sharing company WeWork, vowed to offer Korea-specific services at a time when many companies are improving flexibility to their workplace operations as the country recovers from the COVID-19 pandemic, according to the head of the Korean branch, Tuesday.

Baek Byung-yeul | 2022-05-17 16:54

3 employees steal 3 billion won from Amorepacific for crypto investment

Amorepacific apologized Tuesday, after it was reported that three of its employees had embezzled a combined 3 billion won ($2.3 million) to invest in stocks and cryptocurrencies, as well as for illegal gambling. “Through our recent internal audit, we discovered the embezzlement by our employees and disciplined them,” the company said in a statement.

Park Jae-hyuk | 2022-05-17 16:20

SeAh cooperates with Orano, KEPCO in nuclear fuel storage business

SeAH Besteel will advance into the nuclear power plant market by strengthening partnerships with domestic and foreign nuclear companies. The company announced it had signed a memorandum of understanding (MOU) with Orano TN and KEPCO E&C to cooperate in the dry spent nuclear fuel storage business. Under the MOU, the three companies agreed to strengthen mutual cooperation throu...

Kim Hyun-bin | 2022-05-17 16:08

Korean Air, Asiana fly high, LCCs continue to struggle

Korean Air and Asiana Airlines performed better than expected in the first quarter of the year on the back of their robust cargo transport businesses, but Jeju Air and other low cost carriers (LCCs) in Korea continued to lose money due to stagnant passenger flight numbers amid the prolonged COVID-19 pandemic, according to industry analysts, Tuesday.

Kim Hyun-bin | 2022-05-17 16:04

Money-losing SK on scrambles to hire capital market experts

SK on, the electric vehicle battery manufacturing subsidiary of SK innovation, has been rushing to hire capital market experts from law firms, investment banks and consulting firms after failing again to make money in the first quarter, according to industry officials, Tuesday. Last month, the company appointed foreign attorney Park Sung-uk from law firm Yoon & Yang as the vi...

Park Jae-hyuk | 2022-05-17 15:50

Kakao Mobility partners with Miki Taxi for Guam service

Kakao Mobility, Korea's leading taxi-hailing company, said Tuesday it has forged a business partnership with Miki Taxi, a major taxi operator in Guam, to provide ride-hailing services in the U.S. Pacific territory.

2022-05-17 13:52

4 in 10 listed firms cut workforce in 2021 amid pandemic

Almost four in 10 Korean listed companies trimmed their workforce in 2021 from a year earlier amid the prolonged COVID-19 pandemic, a private think tank said Tuesday.

2022-05-17 10:29

Top 500 firms' sales surpass 700 trillion won in Q1

The combined first-quarter sales of major firms in Korea surpassed the 700 trillion-won ($545 billion) mark for the first time ever on strong performances by semiconductors, electronics, petrochemicals and auto manufacturers, a corporate tracker said Tuesday.

2022-05-17 09:45

India's wheat export ban feared to raise prices of bread, instant noodles

India's wheat export ban has been causing concerns over possible hikes in the prices of instant noodles, bread and other processed products made from the grain in Korea in the coming months, according to industry officials, Monday. India is the world's second-largest wheat exporter after China. Korea imports 51 percent of its milled wheat from the United States and the rest f...

Kim Jae-heun | 2022-05-17 08:40

Wheat importers in Asia scramble for supplies after Indian export ban

Young chaebol owners bring new management styles

A new generation of chaebol leaders in their 30s and 40s have come to the fore in management by focusing on new growth engines to fuel future growth, according to industry watchers Monday. The young CEOs have been expanding their business portfolios in new growth sectors ranging from space and healthcare to blockchain.

Kim Hyun-bin | 2022-05-16 17:34

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