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Sat, June 3, 2023 | 00:35
POSCO International CEO meets with Lithuania's transport minister
POSCO International CEO and Vice Chairman Jeong Tak, right, poses with Lithuania's Minister of Transport and Communications Marius Skuodis at Grand Central in Seoul, Monday. The company said Tuesday that Jeong asked for Lithuania's support for Busan's bid to host World Expo 2030. They also discussed ways to use the Port of Klaipeda for stable export of grain from Ukraine. Cou...
POSCO in hot seat for granting treasury stocks to top executives
POSCO Group is facing a growing backlash over its recent decision to grant treasury stocks collectively worth nearly 10 billion won ($7.6 million) to Chairman Choi Jeong-woo and 27 other executives, according to industry officials Monday.
Wage bargaining kicks off at HD Hyundai
Unionized workers of HD Hyundai's five affiliates hold a press conference in front of the company's headquarters in Seongnam, Gyeonggi Province, Monday, to ask management not to hold wage talks separately with each affiliate's union. Courtesy of Korean Metal Workers' Union
Korean exports to Russia's neighbors soar after sanctions
Korean exports to Russia's neighboring countries have grown rapidly since the international community imposed sanctions against Moscow following its invasion of Ukraine in February last year, data showed Monday. Given that Korea's exports to Russia dropped sharply since the war began, experts assumed that Central Asian and Eastern European nations have been used for Korean ex...
Aramco Asia president named S-Oil CEO
S-Oil nominated Aramco Asia President Anwar A. Al-Hejazi as its new CEO. The Saudi Arabian Aramco-owned oil refiner said in its regulatory filing on Friday that it will hold an extraordinary general meeting of shareholders on May 9 to appoint him as a new executive director.
Concerns grow over LG Chem, SK on, POSCO partnering with Chinese firms
Legal experts in Korea have begun to sound the alarm regarding LG Chem, SK on and POSCO Group, warning them that their joint ventures, established here in Korea with Chinese firms, could be designated as foreign entities of concern under the U.S. Inflation Reduction Act (IRA).
Musinsa reports $540 million in revenue for 2022
Musinsa, one of Korea's leading online fashion platform providers, has continued rapid growth in sales, posting 708.3 billion won ($540 million) in annual revenue in 2022, up 54 percent from a year earlier, according to its regulatory filing, Thursday.
New US EPA rules draw mixed reactions from Korean companies
Korea's electric vehicle (EV) battery manufacturers have welcomed the Biden administration's stricter vehicle emission regulations, which could push EVs to account for at least 67 percent of new light-duty vehicle sales in the U.S. market by 2032, according to industry officials, Thursday. In contrast, domestic carmakers expressed concerns about potential difficulties in meet...
Greenpeace accuses HD Hyundai of aiding destruction in Amazon
HD Hyundai Construction Equipment, a subsidiary of HD Hyundai, has been embroiled in a conflict with Greenpeace, due to its excavators accounting for the largest proportion of construction equipment used for illegal gold mining in indigenous lands in the Amazon.
Eduwill grapples with increase in employee complaints related to labor conditions
Eduwill, a provider of online education services for adults who seek to become public servants or to get licenses for jobs, is facing growing complaints from employees about its series of measures to reduce welfare benefits, according to industry officials, Wednesday. Their complaints mainly resulted from the company's request to return to a five-day work week.
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