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Reporter : Kim Hyun-bin
Fri, September 22, 2023 | 23:58
POSCO Int'l to enter palm oil refining business in Indonesia
POSCO International has decided to enter the palm oil refining business in Indonesia as part of their bold investments in core businesses such as energy, food and eco-friendly parts, the company said, Tuesday. The company announced that it recently decided to invest $200 million in the palm oil refining business in Indonesia.
POSCO E&C starts 1st apt reconstruction project in Gangnam with Hauterre brand
POSCO E&C was finally selected as the construction company for an apartment reconstruction project in Bangbae-dong in southern Seoul's Gangnam District. This will be the first site to construct POSCO E&C's new Hauterre premium apartment brand launched last July.
'No debris from US satellite fell over Korean Peninsula'
No debris from Earth Radiation Budget Satellite's (ERBS) - a U.S. observation satellite that reentered the planet's atmosphere today - fell over the Korean Peninsula, Monday, according to the Ministry of Science and ICT, which had sent a series of text messages warning residents not to go outside. “So far, no special damage has been reported," an official at the science minis...
Earnings shocks set to rock more Korean companies
Samsung Electronics and LG Electronics have been hit directly by the global economic downturn, and their performances in the fourth quarter of 2022 recorded negative earnings surprises of 70 percent and 90 percent, respectively, from the same period the year before. Their sluggish performance is expected to continue for the sector and industry officials believe other companie...
CJ CheilJedang to conduct large-scale expansion into new markets
CJ CheilJedang plans to expand its global presence in K-Food by entering into new markets other than the existing ones in the U.S., Europe and Japan, according to the company Sunday. CJ CheilJedang has decided to advance into Canada, Australia, Thailand, Indonesia and Malaysia.
Gov't to shorten visa procedures for foreign shipbuilding workers
The government plans to shorten drastically the visa administrative procedures for foreign workers employed by domestic shipbuilders from the current four months to one month as the shipbuilding industry grapples with chronic workforce shortages, officials said Friday. The move comes as the government looks to resolve the labor shortage in the domestic shipbuilding industry. ...
Chipmakers enter downturn amid recession worries
Samsung Electronics and other semiconductor makers are expected to face greater difficulties going forward as demand for memory and other chips continues to decline amid a deepening economic downturn, according to company officials and analysts, Friday. “The outlook for the semiconductor industry does not look very bright for 2023. Even foundry demand, which was good last yea...
Hyundai Motor Group aims to surpass Stellantis in US
Hyundai Motor Group overtook Honda for fifth place in sales in the U.S market and is aiming to take over the fourth spot surpassing Stellantis, according to industry officials, Thursday. Hyundai Motor is closely chasing Stellantis, which ranked fourth in sales, selling 1,553,485 vehicles, or 79,261 more. In the fourth quarter of last year, Hyundai Motor recorded sales of 386,...
Korean battery makers losing ground to Chinese rivals
The global market shares of the three main domestic battery makers - LG Energy Solution (LGES), SK On, and Samsung SDI - are declining. All three companies continued their growth trend, but could not compete with Chinese firms' triple-digit growth taking up larger global market shares.
KSOE withdraws IPO of Hyundai Samho Heavy Industries amid sluggish stock market
Korea Shipbuilding & Offshore Engineering (KSOE) decided not to take Hyundai Samho Heavy Industries public due to a rise in economic uncertainties that has seen stock prices plummet, according to industry officials, Wednesday. According to DART, a repository of Korea corporate filings, KSOE will purchase 4,647,201 shares of Hyundai Samho Heavy Industries held by private equit...