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Reporter : Park Jae-hyuk
Tue, May 30, 2023 | 17:17
Digital transformation expert nominated as next KT CEO
KT's board of directors unanimously recommended Yun Kyung-lim, head of the group transformation division, as the final candidate to replace outgoing CEO Ku Hyeon-mo, the telecommunications firm said Tuesday. The decision was made after in-depth interviews of four shortlisted candidates, all of whom are former and incumbent KT executives.
Will business tycoons get to meet Aramco chair at S-Oil's Ulsan plant?
All eyes are on whether the heads of major Korean conglomerates will be able to meet Aramco Chairman and Public Investment Fund (PIF) Governor Yasir Al-Rumayyan at Thursday's groundbreaking ceremony for S-Oil's 9 trillion won ($6.7 billion) “Shaheen” project in southern Korea. Shaheen, which means falcon in Arabic, involves the construction of Korea's largest petrochemical pl...
Will Samsung Heavy lose ground to Hanwha, HD Hyundai?
Samsung Heavy Industries is facing skepticism about its competitiveness, after its rivals decided recently to acquire manufacturers of engines for ships, in order to vertically integrate their shipbuilding supply chains, according to industry officials, Monday. Although the shipbuilding subsidiary of Samsung Group seeks to survive through its capability of building higher val...
Leadership vacuum looms large at KT
KT is rumored to have delayed its plan to appoint a new chief executive, due to the intensifying backlash from the presidential office and the ruling party against the telecommunication firm's recent shortlisting of candidates to replace outgoing CEO Ku Hyeon-mo, according to industry officials, Monday.
Korean battery makers diversify partners for joint ventures in US
Samsung SDI is set to establish a joint venture with General Motors, joining the latest trend of Korean electric vehicle (EV) battery makers diversifying their partnerships with global carmakers, according to industry officials, Sunday. The battery manufacturing unit of Samsung Group will reportedly sign a memorandum of understanding with the U.S. carmaker in the state of Mic...
Coupang expected to post operating profit in 2023
Coupang's continuous improvement in its profitability last year has led more securities analysts here to hold expectations for the Korean e-commerce giant to post an annual operating profit this year. Last Tuesday, the New York Stock Exchange-listed online retailer posted $83.4 million in operating profit during the fourth quarter of 2022. This followed the company turning a ...
Debate erupts over state intervention to curb price hikes
The Yoon Suk Yeol administration has sparked a controversy over its repeated intervention in markets intending to curb rising commodity prices. Critics point out that government intervention contradicts Yoon's campaign pledge to protect the free market economy. They raised suspicions that the administration's recent moves to pursue bigger government are intended for the rulin...
Conglomerates face backlash over differing bonuses at affiliates
SK, Hyundai Motor and other large business groups here have sparked protests again this year over their payment of bonuses to employees based on which affiliate they work for and how profitable it is, according to industry officials, Thursday.
Samsung, SK hynix in dilemma over US chip subsidies
Samsung Electronics and SK hynix took a cautious stance toward the U.S. government's latest announcement on the specifics of the CHIPS for America Funding Opportunity, saying that it is too early for them to decide whether or not to apply for the subsidies. Korean chipmakers have been worried about the fact that the U.S. incentive program includes rules that could endanger th...
Dongwha to invest over $70 million to build plant in Tennessee
Dongwha Electrolyte has determined the size of investments for its new electrolyte manufacturing plant in the U.S., as well as the factory's production capacity, the affiliate of Dongwha Enterprise, said Monday. The company will invest over $70 million to build the new manufacturing plant on a 162,000-square-meter site in Clarksville, Tennessee.