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Tue, November 29, 2022 | 17:14
Minority shareholders protest Poongsan's plan to split off munitions business
Poongsan is facing a growing backlash from minority shareholders over its plan to split off its flagship munitions business so the parent firm can focus on copper product manufacturing, according to industry officials, Friday. Earlier this month, Poongsan abruptly announced the split-off plan for Poongsan Defense, arguing that the structural reform will ultimately enhance bot...
For foreign business-friendly tax policies
American Chamber of Commerce in Korea (AMCHAM) Chairman James Kim, front row fourth from left, and National Tax Service (NTS) Commissioner Kim Chang-gi, front row third from left, pose with participants in a meeting at the Plaza Hotel Seoul, Friday. AMCHAM said its members requested more favorable tax treatment for foreign businesses here, so as to transform Korea into a regi...
US-China rivalry heats up over LG batteries
LG Science Park has become the latest battlefield for the intensifying tech war between the U.S. and China, as the conglomerate's R&D cluster in Seoul has emerged as a key destination for both countries' political leaders visiting Korea. Amid the fierce rivalry between the world's two largest economies over supremacy in the global supply chain, the political leaders appear to...
LG Uplus aims to export 'K-education' to global market
LG Uplus seeks to export “K-education” to the global market, based on the domestic popularity of its profitable child-oriented content service, the company said, Thursday. The telecommunications firm also plans to establish an e-commerce platform that can recommend instructors and educational products suitable for each child.
[INTERVIEW] Korean movies filmed with IMAX cameras coming soon
Despite having one of the world's most lucrative IMAX theaters in CGV Yongsan I-Park Mall in Seoul, Korea has never had a local Korean-language movie filmed with an IMAX camera, unlike neighboring China and Japan. The global popularity of “Parasite” and “Squid Game” have not stopped Korean filmmakers from hesitating to use the Canadian company's high-resolution camera. Since ...
[INTERVIEW] Korea warned against heavy sanctions on Apple, Google
An economist from a U.S. think tank has raised an issue with the Korean government's move to impose sanctions on Apple and Google for allegedly compelling the use of their own in-app payment systems. Michael Mandel, vice president and chief economist of the Progressive Policy Institute (PPI) which was described by the Washington Post as a “centrist Democratic institute,” sugg...
POSCO to resume typhoon-hit steel mill operations over Chuseok
POSCO plans to resume the operation of three blast furnaces at its main steel mill in Pohang, North Gyeongsang Province, starting this Saturday, as repairs have gone smoothly after Typhoon Hinnamnor swept through the region, the steelmaker said, Thursday.
Campaign to host World Expo in Busan heats up before Chuseok
Korea's largest conglomerates have strengthened their partnerships with the government ahead of the Chuseok holiday this weekend, in order to go all out for Busan's bid to host the World Expo 2030, according to the Korea Chamber of Commerce and Industry (KCCI), Thursday. The KCCI, serving as the headquarters of the civilian committee to support Busan's bid for the World Expo,...
KOIMA chairman meets with Chinese ambassador
Korea Importers Association (KOIMA) Chairman Kim Byung-kwan, left, poses with Chinese Ambassador to Korea Xing Haiming at the Embassy of China in Seoul, Thursday. They discussed ways to boost trade between the two countries, as well as the association's plan to send a delegation to China early next year to discuss supply chain diversification. Courtesy of KOIMA
Samsung, SK, LG brace for crisis with preemptive investments
Samsung, SK and LG have continued to expand their domestic and overseas manufacturing facilities despite the looming economic recession, in apparent attempts to overcome the crisis by making preemptive investments, according to industry officials, Wednesday. Although most companies have downsized their operations amid the uncertain business environment, the tech giants have d...
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