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Reporter : Park Jae-hyuk
Tue, November 29, 2022 | 16:58
Samsung chairman meets with Spanish prime minister
Samsung Electronics Chairman Lee Jae-yong met with Spanish Prime Minister Pedro Sanchez on Friday, during his visit to Korea this week for a summit with President Yoon Suk-yeol. Their meeting was held a few hours after the leaders of both countries sat face to face on Friday morning.
Lotte chairman unseen during Saudi crown prince's stay in Seoul
Lotte Group Chairman Shin Dong-bin was not seen during Saudi Crown Prince Mohammed bin Salman Al Saud's luxurious day-long stay at Lotte Hotel in downtown Seoul, where he met with Korean business tycoons on Thursday evening at the executive suite which costs 22 million won ($17,000) per night. Even before the de facto leader of Saudi Arabia came to Korea, there were rumors th...
Samsung, SK woo ASML to gain edge over rival TSMC
Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won accompanied President Yoon Suk-yeol for tea at the presidential office with Dutch Prime Minister Mark Rutte and ASML CEO Peter Wennink on Thursday. Their meeting took place an hour before the leaders of the two countries held a summit. According to the presidential office, Yoon asked ASML to make add...
HDC, Mirae Asset lose in $190-million lawsuit over failed Asiana takeover
HDC Hyundai Development Company and Mirae Asset Securities are not entitled to be refunded the combined 250 billion won ($190 million) they had paid previously for their acquisition of Asiana Airlines from its parent company, Kumho E&C, which eventually ended in failure, according to a court ruling, Thursday. The Seoul Central District Court accepted the request from Asiana a...
ASML to build repair, engineer training centers in Hwaseong
ASML, a Dutch semiconductor equipment firm known as the world's sole producer of extreme ultraviolet (EUV) lithography machines, will start the construction of its repair center and engineer training center in Hwaseong, Gyeonggi Province, Wednesday, by investing 240 billion won ($182 million) until 2025, according to the industry ministry, Tuesday.
Saudi crown prince accelerates S-Oil's transition to petrochemical sector
Saudi Arabia's Crown Prince Mohammed bin Salman's forthcoming visit to Korea this Thursday is expected to prompt Aramco-owned S-Oil to speed up its efforts for its vision of “oil to chemical,” according to industry officials, Tuesday. The refiner will reportedly hold a meeting of its board of directors at its Seoul headquarters on the day of the crown prince's arrival to Kore...
Dongwha opens R&D center
Dongwha Group Chairman Seung Myung-ho, fifth from left, cuts the ribbon with participants at the grand opening ceremony for Dongwha R&D Center in Incheon, Tuesday. The center was built for research in fine chemistry and electrolytes. From left are Donghwa R&D Center head Kim Jeong-soo, Dongwha Enterprise Senior Vice President Chae Kwang-byeong, Dongwha Group Vice Chai...
Sales of Burger King Korea, Mom's Touch in limbo
Uncertainties have been growing over the sales of the Korean units of McDonald's, Burger King and KFC, as well as Mom's Touch, as the current owners struggle to find interested buyers, according to industry officials, Monday. Since their current owners put the fast food franchises up for sale earlier this year, capital market insiders have regarded the firms as overvalued.
'Milkflation' effects seen across food industry
The sharpest-ever raw milk price hike has not only resulted in a rise in milk prices, but also caused worries over additional increases in the prices of dairy products, such as cheese, flavored milk, ice cream, bread and coffee. Binggrae, for example, announced on Friday that its flagship Banana-flavored Milk in a 240-milliliter plastic bottle will be sold for 1,700 won ($1.3...
Will refiners' profitability worsen further in Q4?
Korea's four largest oil refiners showed a sharp decline in their third-quarter operating profits, raising questions about the possibility of further deterioration in their profitability during the fourth quarter, according to industry officials, Sunday. The sum of their third-quarter operating profits was 2.7 trillion won ($2 billion), down 63.7 percent from the previous qua...
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