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Reporter : Park Jae-hyuk
Tue, May 30, 2023 | 17:57
China suspected of hampering Busan's World Expo bid
Concerns have been raised among Korean businesspeople, as China is said to be trying to thwart their ongoing efforts to win international support for Busan's bid to host the World Expo 2030, according to industry officials, Sunday. The world's second-largest economy has reportedly been asking developing countries to vote for the Saudi Arabian capital of Riyadh at November's m...
Samsung Electronics' labor union faces backlash for 'humiliating' company globally
Unionized workers of Samsung Electronics are facing growing criticism from their colleagues for tarnishing the company's international reputation in their pursuit of a sharper wage ...
Uncertainty remains over contributions by Japanese war crime firms to 'partnership fund'
The Federation of Korean Industries (FKI) and the Japan Business Federation (Keidanren) declined once again, Wednesday, to clarify whether Japanese firms accused of wartime forced labor will contribute to the Future Partnership Fund, established to support various cooperation projects.
Former Aramco Asia chief becomes S-Oil CEO
Former Aramco Asia CEO Anwar A. Al-Hejazi was appointed as the new head of S-Oil, Tuesday, after the refiner's shareholders and board of directors gave their approval. S-Oil is owned by Aramco.
GS E&C admits to faulty construction of apartment underground parking lot in Incheon
GS E&C apologized on Tuesday for last month's collapse of an apartment complex construction site in northern Incheon's Geomdan New Town, admitting that it had missed installing rebar in over 30 places of the destroyed underground parking lot's upper floor.
Saudi transport minister's visit raises hopes for more business deals
Saudi Arabian Minister of Transport and Logistics Services Saleh bin Nasser Al-Jasser started a three-day trip to Korea, Monday, prompting Korean firms to anticipate more lucrative orders from the oil-rich Middle Eastern country, in addition to Neom, a $500 billion smart city development project. On the first day of his visit, he signed a memorandum of understanding (MOU) wit...
IMM faces obstacles in selling Hyundai LNG Shipping to foreign firm
Korea's shipping industry officials urged the government on Monday to prohibit IMM Private Equity from selling Hyundai LNG Shipping to a foreign company, citing a potential threat to the nation's energy security. They made the request as the private equity firm (PEF) is said to be considering selling the shipping company to one of the potential buyers from the U.S., the U.K. ...
[INTERVIEW] Siemens Korea CEO vows full support for Busan's World Expo bid
When Siemens came to Korea for the first time in the 1950s, its mission was to help rebuild the war-torn country through projects to install power generation facilities, chemical plants, cement factories and cables. About a half-century after the opening of Siemens' liaison office here in 1967, Korea has grown to become one of the world's top 10 economies, playing major roles...
Celltrion chairman's shunned daughters seen as risk to company governance
Celltrion is facing uncertainties over Chairman Seo Jung-jin's potential handover of his management rights to his two sons, Celltrion Board Chairman Seo Jin-seok and Celltrion Healthcare Board Chairman Seo Joon-serk, as it was found recently that his two daughters from an extramarital affair had been recognized last year as his biological children, according to industry offic...
GS E&C, LH play blame game over apartment construction site collapse
GS E&C and Korea Land & Housing Corp. (LH) have drawn criticism for their attempts to shift the blame onto each other over the recent collapse of an apartment complex construction site in Incheon, according to industry officials, Thursday.
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