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Reporter : Park Jae-hyuk
Fri, August 19, 2022 | 22:41
Yoon confident about Korea hosting World Expo 2030
President Yoon Suk-yeol showed his confidence about Korea hosting World Expo 2030 Wednesday, saying that the country can excel in its capability and infrastructure. “I'm confident that we have much greater competitiveness in capability and infrastructure than Saudi Arabia,” the president said during a press conference held to mark his first 100 days in office. “During bilater...
Businesses disappointed by Yoon's slower-than-expected reforms over past 100 days
Business lobby groups urged the Yoon Suk-yeol administration on Wednesday to accelerate efforts to step up deregulatory measures, although they positively assessed the president's market-oriented stance. Their suggestions were made as the president held a press conference earlier on Wednesday to mark his first 100 days in office.
Korean builders desperate for foreign construction workers
Domestic builders are in talks with the government about increasing the supply of foreign construction workers amid an intensifying shortage of laborers at construction sites, according to industry officials, Tuesday. In response to a request from the Korea Specialty Contractors Association (KOSCA) last month for eased regulations on hiring foreign construction workers, the M...
HiteJinro headquarters occupied by unionized cargo truckers
Unionized cargo truck drivers raided HiteJinro's headquarters building in Seoul, Tuesday, occupying the ground floor and hanging banners from the rooftop in protest against the liquor maker's refusal to raise delivery fees. According to the police, some 70 members of the Cargo Truckers Solidarity entered the building abruptly at 6 a.m., briefly hindering HiteJinro employees f...
Conflict reignites over relocation of POSCO Holdings to Pohang
POSCO Group has been in dispute once again with residents of Pohang, North Gyeongsang Province, over its plan to relocate POSCO Holdings headquarters and its R&D center from the capital region to the southeastern port city by March next year. Although POSCO Group plans to deal with the relocation plan at the general meeting of its holding firm's shareholders early next year, ...
Will Hyundai Motor Group reorganize Mobis for governance reform?
Hyundai Mobis, an auto parts subsidiary of Hyundai Motor Group, is said to be pushing ahead with spinning off modules and components manufacturing units, raising speculation that the restructuring is intended for the automotive group's governance reforms. According to industry officials, Monday, Hyundai Mobis informed its executives last Thursday of its plan to focus more on ...
Is sale of Hanon Systems losing momentum?
Hanon Systems' worsening profitability and credit rating have caused concerns among some market insiders about a possible setback in its major shareholders' yearlong attempt to sell the company, according to industry officials, Thursday. The auto parts supplier announced on Wednesday that its second-quarter operating profit dropped 40.2 percent year-on-year to 60.1 billion wo...
Korean builders desperate for oil money
Korean construction companies have ramped up efforts to win more large-scale infrastructure orders from oil-rich Middle Eastern countries, including nuclear power plants, in a bid to achieve earnings recoveries and growth momentum abroad. The move comes as the government has vowed to expand support for construction projects in foreign markets, particularly Middle Eastern coun...
HMM's heyday ends earlier than expected
HMM, formerly known as Hyundai Merchant Marine, is expected to face difficulties in its privatization, due to the growing skepticism about its performance later this year, according to securities analysts, Thursday. The cash-strapped company, which is currently under the control of creditors led by the state-run Korea Development Bank (KDB), posted its second-quarter operatin...
Korea's trade deficit with China likely to continue
Korea's reliance on intermediate goods imported from China is expected to make it more difficult for Asia's fourth-largest economy to overcome its trade deficit with the world's most populous country, according to the Korea Chamber of Commerce and Industry (KCCI), Tuesday. In its latest report, the KCCI mentioned the rising imports of intermediate goods, supply chain difficul...
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