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Tue, November 29, 2022 | 17:54
Saudi crown prince expected to meet chaebol tycoons
Saudi Arabia's Crown Prince Mohammed bin Salman is set to visit Korea next week and speculation abounds on whether he will meet with chaebol tycoons to discuss business partnerships for the kingdom's $500 billion eco-friendly NEOM City project, according to industry officials, Friday. The crown prince is scheduled to visit Seoul on Nov. 17 and stay for one night at the Lotte ...
Concerns grow over Korean firms' soaring investments in US due to IRA
Experts are calling for increased government support to help boost domestic investment, especially in the electric vehicle (EV) and battery sectors, to secure global supply chains that could better counter the U.S. Inflation Reduction Act (IRA), according to industry officials, Friday. The Korea Economic Research Institute (KERI), an affiliate of the Federation of Korean Indu...
E-commerce giant Coupang makes profit in Q3, first since 2014
E-commerce giant Coupang recorded its first quarterly profit since 2014 after finding success introducing its ultrafast delivery service, Rocket Delivery, and investing heavily in technology, according to company officials, Thursday. “We developed a logistics network that integrates technology, delivery fulfillment (integrated logistics) and last mile delivery (the final deli...
Used car sales plummet amid soaring interest rates, economic downturn
The local used car market is starting to cool off as the economic downturn and soaring interest rates are leading to a sharp decrease in sales of secondhand cars nationwide, according to industry officials, Thursday.
Hanwha Group chief and his sons meet Heritage Foundation founder
Hanwha Group Chairman Kim Seung-youn met with Edwin John Feulner Jr., founder of the conservative American think tank, the Heritage Foundation, and discussed a wide array of current issues, including global economic issues and diplomatic events, as well as ways to enhance friendly relations between Korea and the U.S., the company announced, Wednesday. The dinner meeting took ...
Samsung chief visits partner firm's smart factory in Busan
Samsung Electronics Chairman Lee Jae-yong visited Dong-A Plating, a medium-sized company located in Noksan National Industrial Complex in Busan, the company said, Tuesday. After becoming chairman of Samsung Electronics on Oct. 27, Lee visited a partner company in Gwangju as his first on-site management destination. For his second visit, he toured Dong-A Plating in Busan, wher...
Porsche customers, dealers left in dark after abrupt halt of Taycan shipments
Porsche customers and dealers are increasingly frustrated with the German luxury car brand after it abruptly halted the delivery of its electric vehicle (EV) model, the Taycan, according to customers and industry officials, Tuesday. Customers and dealers alike have been left in the dark for over a month not knowing why the delivery of vehicles has been suspended since the end...
Lobby groups call for tax cut to increase investments, employment
Six major business lobby groups submitted a request to the National Assembly for the swift passage of a pending corporate tax reduction bill so that companies can better respond to the expected economic downturn next year, according to the business community, Monday.
Korea advised to bring smart grid tech to Vietnam, Indonesia, India, Philippines
Domestic companies operating smart grid businesses are advised to enter Vietnam, Indonesia, India and the Philippines to enhance their performance in a market, which shows annual growth of 18.2 percent, according to Korea International Trade Association (KITA) report released, Monday.
POSCO International to invest $2.67 billion in 3 years after POSCO Energy merger
POSCO International, which is set to merge with POSCO Energy, unveiled a plan to invest 3.8 trillion won ($2.67 billion) by 2025 to become a global energy company, during a company shareholders' meeting, which was held on Friday.
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