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Reporter : Kim Hyun-bin
Sun, December 3, 2023 | 10:41
Korean steelmakers brace for EU carbon border tax
Korean steelmakers and other companies exporting goods to Europe are expected to pay a new carbon border tax in the second half of 2023 as the European Union plans to make it more expensive to export steel, cement, fertilizers, aluminum, electricity and hydrogen to the continent, according to industry officials Thursday. Companies importing those goods into the EU will also b...
Companies | 2022-12-15 16:02
Hy 'fresh managers' pose threat to Coupang in delivery market
Hy, formally known as Korea Yakult, is rapidly transforming into a logistics distribution company, evolving as a key competitor to Coupang, the country's largest e-commerce firm specializing in next-day delivery, according to industry officials, Wednesday.
Companies | 2022-12-15 08:30
Hanwha, Hyundai Heavy scions to compete in shipbuilding industry
Hanwha Solutions Vice Chairman Kim Dong-kwan and HD Hyundai CEO Chung Ki-sun, who are well-known for their friendship, are set to compete in the global shipbuilding market, according to industry officials, Wednesday. So far, Hanwha has not competed in any industry with HD Hyundai, which owns Korea's largest shipbuilder Hyundai Heavy Industries and several other smaller shipya...
Companies | 2022-12-14 17:01
Taekwang criticized for aiding Heungkuk Life Insurance
Controversy is surrounding Taekwang Industrial as it looks to increase capital for Heungkuk Life Insurance through a board meeting. Shareholders and civic groups are calling on Taekwang Industrial to withdraw from the discussions, calling the move a breach of trust as the company has no affiliation with Heungkuk Life, according to industry officials, Tuesday.
Companies | 2022-12-13 17:00
BYD set to sell electric vehicles in Korea
China's BYD, the world's third-largest electric vehicle (EV) producer after Tesla and Volkswagen, is preparing to commence sales in Korea, according to industry officials, Tuesday. The move comes six years after the Chinese automaker established a Korean unit. BYD recently opened an official Korean website and a sales office in Seoul last month, in addition to an existing off...
Companies | 2022-12-13 15:41
Korean, Chinese businesses urge governments to boost exchanges
Korean and Chinese businesspeople agreed to bolster exchanges by strengthening a 1.5-track dialogue platform consisting of both the private and public sectors, and to promote cooperation in the second phase of Korea-China free trade agreement negotiations, industrial cooperation and carbon neutrality, according to the Korea Chamber of Commerce and Industry (KCCI), Monday. The...
Companies | 2022-12-12 16:59
Hyundai Motor seeks to expand presence in Brazil
Hyundai Motor is on the verge of achieving a double-digit sales share of the Brazilian market for the first time. According to statistics from the Brazilian Automobile Dealers Association, Monday, Hyundai sold a total of 171,312 vehicles in the Brazilian market between January and November this year, achieving a 9.8 percent share. In terms of sales by brand, it ranks fourth a...
Companies | 2022-12-12 16:55
Hanwha, KDB to ink main acquisition contract for DSME this week
Hanwha Group will sign a main contract to acquire Daewoo Shipbuilding & Marine Engineering (DSME) this week, according to industry officials, Sunday. If the acquisition process is completed in the first half of next year as scheduled, the reorganization of Hanwha Group's business structure centering on the two pillars of defense and eco-friendly energy is expected to be compl...
Companies | 2022-12-11 16:47
Hyundai, Kia set to achieve record EV sales in Europe this year
Hyundai Motor and affiliate Kia are expected to see electric vehicle (EV) sales reach a record high in Europe this year, with each selling more than 200,000 eco-friendly cars in that market in 2022. According to the European Automobile Manufacturers Association (ACEA), Sunday, Kia sold 200,984 EVs in the European market as of the end of October. Kia sold 13,132 EVs in Europe ...
Companies | 2022-12-11 14:38
LG releases electronic face mask in Korea
LG Electronics belatedly introduced its electronic face mask due to the late implementation of government safety regulatory standards for electronic masks. However, the launch of its product on the local market comes a little late as the government is considering lifting the indoor mask mandate by March next year, according to industry officials Thursday. Although electronic ...
Companies | 2022-12-08 16:14
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