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Reporter : Park Jae-hyuk
Fri, June 2, 2023 | 23:12
KOTRA vows to be more vigilant about trade policies of foreign countries
The Korea Trade-Investment Promotion Agency (KOTRA) promised on Tuesday that it will preemptively collect information about each country's trade policies and market trends, as part of efforts to revitalize Korea's export trade.
Arms procurement agency paves way for Hanwha-DSME acquisition
The Defense Acquisition Program Administration (DAPA) told the Fair Trade Commission (FTC) last week that Hanwha Group's acquisition of Daewoo Shipbuilding & Marine Engineering (DSME) will not restrict competition in the warship market, according to government officials, Tuesday.
GS E&C saddled with most apartment defects among major builders
GS E&C was found to have been embroiled in conflicts most frequently among the nation's 10 largest builders over the past three years regarding defects in apartment buildings they built, according to land ministry data, Monday. Data given by the Ministry of Land, Infrastructure and Transport to Rep. Heo Jong-sik of the main opposition Democratic Party of Korea showed that the...
Zigbang lays off workers amid housing market slump
Zigbang, the operator of Korea's leading real estate brokerage app, is asking some of its employees to resign and offering them compensation packages equivalent to three months of wages, according to industry officials, Sunday. The request was reportedly made as the company's financial losses have grown rapidly over the past few years.
Lotte desperate to secure cash to dispel concerns over liquidity crisis
Lotte Group is going all out to raise more money from domestic financial firms, amid the conglomerate's continuous efforts to dispel worries among market insiders over the company's financial soundness, according to industry officials, Sunday. Last Friday, the group signed an agreement with KB Kookmin, Shinhan, Woori and Hana banks to draw a combined 5 trillion won ($3.8 bill...
LG Energy Solution posts earnings surprise in Q1
Korea's electric vehicle (EV) battery makers have begun to enjoy increased earnings due to the U.S. Inflation Reduction Act (IRA), which offers tax incentives for their production and sales in North America. While announcing on Friday that its first-quarter operating profit is estimated to have soared 144.6 percent year-on-year to 633.2 billion won ($480 million), LG Energy S...
Samsung's chip production cut expected to hasten earnings recovery
Samsung Electronics is expected to enjoy a steady recovery in its earnings during the second half of this year at the latest, according to domestic securities analysts, Friday. Such an optimistic outlook has been attributed mainly to the tech giant's latest decision to reduce the manufacturing volume of memory chips to a “meaningful level.”
From mines to mobility: 140-year-old partnership between Germany and Korea
From the bustling streets of Seoul to the winding roads of Berlin, Germany and Korea share a long history that goes back to 1883 when the Treaty of Chemulpo (present-day Incheon) was signed. This was part of Germany's industrialization and efforts to expand influence and trade in other regions of the world. However, due to historic twists and turns, the partnership between th...
Kyochon heralds 30,000 won fried chicken era
Kyochon F&B decided to raise its fried chicken prices by up to 3,000 won ($2.30) from April 3, despite the government's request for restaurant chains to refrain from hiking prices further, in order to reduce the burden on low-income households. Due to the decision, consumers will need to pay nearly 30,000 won, if they want to get fried chicken delivered from Kyochon.
LG Energy Solution boosts investments in Arizona factory
LG Energy Solution (LGES) said on Friday that it has decided to resume investments to build a cylindrical battery factory in the U.S. state of Arizona, in order to meet the demand of its global clients in the wake of the implementation of the Inflation Reduction Act.
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