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Wed, May 18, 2022 | 22:54

Hyundai to confirm building of $7 bil, US plant during Biden Asia visit: sources

Hyundai Motor Group is expected to announce next week that it's building a massive electric vehicle plant near Savannah, Georgia, according to a U.S. official familiar with the anticipated announcement. Hyundai is finalizing those plans as President Joe Biden is set to travel to South Korea next week as part of his first visit to Asia since his inauguration.

2022-05-13 10:56

Hanwha Solutions to spend 380 bil. won for advanced solar cell technology

Hanwha Solutions said Thursday it is spending 380 billion won ($294.7 million) to build facilities for advanced solar cell technology in South Korea and the United States.

2022-05-12 20:41

One Store CEO criticized for flip-flopping on IPO

Lee Jae-hwan, the CEO of SK Group's mobile app market subsidiary One Store, is facing fierce criticism over flip-flopping regarding the firm's botched initial public offering (IPO), according to industry officials, Thursday. On Monday, Lee told reporters that One Store would push ahead with the IPO under any circumstances, but two days later, it announced that it would withdr...

Baek Byung-yeul | 2022-05-12 17:11

Coupang's operating loss narrows in Q1

Coupang reduced its operating loss in the first quarter of the year for the first time since it went public in March 2021, while breaking another sales record. Its operating loss fell to $209.2 million, down by 23 percent from $449.7 million (580.1 billion won) in the fourth quarter of 2021, according to the regulatory filing revealed by the company, Thursday.

Kim Jae-heun | 2022-05-12 17:08

Posco International CEO visits Uzbekistan to check global supply chain

Posco International CEO Joo Si-bo visited Uzbekistan from May 9 to 12 to check the company's global supply chain there, while meeting with Governor Bozorov Hayitbayevich of the region of Fergana to discuss their plans to establish a raw cotton cluster in the Central Asian country, the company said, Thursday. The cotton cluster refers to the Uzbekistan government's project to ...

Kim Jae-heun | 2022-05-12 17:07

KT sees operating profit jump to 12 year high in Q1

KT recorded its largest operating profit in 12 years thanks to strong performances across its media, mobile commerce and enterprise services, according to its regulatory filing Thursday.The firm's operating profit climbed to 626.6 billion won for the January-March period, an increase of 41.4 percent from the same period a year earlier.

Kim Hyun-bin | 2022-05-12 16:28

Tax burden soared under Moon administration

The Moon Jae-in administration increased the corporate income tax rate during its five-year term (2017 to 2022), while five other advanced countries maintained or lowered tax rates during the same period, making it harder for Korea companies to compete with global rivals, a report showed Thursday.

Kim Hyun-bin | 2022-05-12 16:28

SK's IPO drive hits snag amid bearish market

SK Group's strategy to go public with as many subsidiaries as possible so as to raise cash has hit a snag, after failing to list SK Shieldus and One Store on the local bourse over the past week amid bearish market conditions, according to industry officials, Thursday.

Baek Byung-yeul | 2022-05-12 16:28

Top 1,000 firms' sales hit new high in 2021 amid pandemic

Korea's major listed firms saw their sales jump more than 16 percent to an all-time high in 2021 despite the prolonged COVID-19 pandemic, a corporate tracker said Thursday.

2022-05-12 14:19

Ourhome Chairperson Koo Cha-hak dies at 92

Koo Cha-hak, chairperson of Korean food service company Ourhome, died Thursday of chronic ailments, his family said. He was 92.

2022-05-12 09:53

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