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Biz & Tech

Manufacturing

Wed, April 14, 2021 | 23:49

Hyundai Motor Group moving toward governance restructuring

Hyundai Motor Group appears to be geared toward streamlining its governance structure, starting with an initial public offering (IPO) of its plant engineering affiliate Hyundai Engineering. On Wednesday, Hyundai Engineering confirmed that it sent major brokerage firms proposals for an IPO on the country's main KOSPI bourse.

2021-04-14 16:36

Top conglomerate chiefs hold 1st get-together after Chey's KCCI chairmanship

The leaders of the three of the country's four largest conglomerates had their first get-together recently to congratulate SK Group Chairman Chey Tae-won on officially beginning his term as the head of the Korea Chamber of Commerce and Industry (KCCI), the country's major business lobby group. Industry sources said Sunday that Chey met Chung Eui-sun of Hyundai Motor Group and...

2021-04-12 09:15

Samsung, SK request gov't for more support to overcome chip shortage

Local semiconductor companies have requested the government for aid in order to better overcome the global chip shortage. The Minister of Trade, Industry and Energy Sung Yun-mo hosted an event with major industry representatives from the Korea Semiconductor Industry Association (KSIA) and conglomerates officials at the Westin Chosun Hotel in Seoul, Friday to brainstorm ways t...

2021-04-09 16:47

Hyundai expands plant suspension on chip shortage

Nike ends lawsuit over Lil Nas X 'Satan Shoes,' which will be recalled

Nike Inc said on Thursday a Brooklyn company that made "Satan Shoes" in collaboration with the rapper Lil Nas X has agreed to voluntarily recall the shoes, as part of a legal settlement with the athletics giant. The settlement with MSCHF Product Studio Inc resolves a trademark infringement lawsuit that Nike filed last week over the black-and-red, devil-themed sneakers, which ...

2021-04-09 14:33

Celltrion founder is Korea's richest man: Forbes

The richest person in Korea is Celltrion Chairman Seo Jung-jin, according to Forbes's World's Billionaires List of 2021 revealed Tuesday (local time). The American business magazine estimated the assets of billionaires around the world based on a number of factors, including their company's stock price and exchange rates.

2021-04-08 16:50

Samsung Electronics enjoys 44% jump in Q1 operating profit

Samsung Electronics said Wednesday that it recorded an estimated 9.3 trillion won ($8.3 billion) in operating profit in the first quarter, up 44.2 percent from a year ago, on the back of solid sales of smartphones following the release of its flagship Galaxy S21 series. In a preliminary earnings report, the electronics giant estimated total sales to have jumped 17.5 percent t...

2021-04-07 17:01

Samsung expects Q1 earnings surprise on strong mobile, home appliance biz

Samsung Electronics on Wednesday expected a market forecast-beating earnings for the first quarter as its mobile business fared well, offsetting a relatively tepid performance from the semiconductor business. In its earnings guidance, the South Korean tech giant estimated its operating profit at 9.3 trillion won ($8.3 billion) for the first three months of the year, up 44.2 p...

2021-04-07 10:16

IMF projects stronger 2021 growth amid pandemic rebound

WASHINGTON - Accelerated vaccinations and a flood of government spending, especially in the United States, have boosted the outlook for the global economy, but more must be done to prevent permanent scars, the IMF said Tuesday.

2021-04-06 21:59

POSCO denies profitable gas project's alleged ties to Myanmar junta

POSCO denied allegations, Tuesday, that a highly profitable offshore gas field it operates in Myanmar is tied to the country's military junta and is being used to help fund the bloody crackdown on pro-democracy protesters. The Korean conglomerate said in a statement that the gas field, along with three among five businesses it runs in Myanmar, had been operating for 20 years ...

2021-04-06 16:58

POSCO Chemical to supply battery material for LG-GM joint venture

POSCO Chemical Co., an affiliate of South Korea's steel giant POSCO Group, said Monday it will provide a key material for Ultium Cells' rechargeable batteries for electric vehicles (EVs). POSCO Chemical said it will supply anodes, one part of lithium-ion batteries used in EVs, to Ultium Cells, a battery joint venture of South Korean battery maker LG Energy Solution Ltd. and A...

2021-04-05 14:52

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