The Korea Times

Online education stocks soar as gov't strengthens COVID-19 quarantine guidelines

A student takes online classes in Daegu. / Courtesy of the Daegu Metropolitan Office of EducationBy Kim Hyun-binShares of online education companies have been heading upward since the government recommended private learning academies to go online to help prevent the spread of COVID-19, according to stock market analysts Monday. Stock prices of online education-related stocks such as MegaMD, NE Neungyule, and YBM Net have shown an upward trend. MegaMD closed at 3,515 won up 8.82 percent, YBM Net at 4,955 won up 3.66 percent and NE Neungyule closed at 6,450 won up 8.59 percent at market close, Monday.The rise in stock prices of online education-related stocks seems to have been influenced by the news that the government is actively recommending distance learning in the wake of the COVID-19 resurgence. On July 27, the Ministry of Education announced the “Measures for Quarantine Control of Schools and Hagwons during Vacation,” which strongly recommends that private academies switch to online classes to prevent the spread of COVID-19 during the vacation period. As the summer v

Aug 2, 2022By Kim Hyun-bin

Online education stocks soar as gov't strengthens COVID-19 quarantine guidelines

Companies

Will Samsung and Lotte chiefs receive pardons?

By Kim Hyun-binExpectations are growing that President Yoon Suk-yeol will pardon Samsung Electronics Vice Chairman Lee Jae-yong and Lotte Group Chairman Shin Dong-bin on Aug. 15, National Liberation Day, to help companies deal with a range of downside risks, including high inflation and unfavorable exchange rates, according to industry officials, Monday.Yoon has been contemplating his first special pardon, which many believe will include amnesty for key business figures. Since taking office, Yoon has been emphasizing economic revitalization and stressing that the Korean economy is suffering from external difficulties."The absence of a leader is inevitably a burden on corporate management and as there are external difficulties surrounding businesses, there seems to be a good chance that pardons will be given,” an industry official said.Samsung Electronics Vice Chairman Lee Jae-yongThe Ministry of Justice plans to hold an amnesty review committee meeting around Aug. 9. Once the amnesty review committee selects a candidate, the selection is finalized after approval by the presiden

Aug 1, 2022By Kim Hyun-bin

Will Samsung and Lotte chiefs receive pardons?

Companies

Hyundai Motor faces more challenges in 2nd half

Hyundai Motor and Kia Corp. headquarters in Seoul / Courtesy of Hyundai Motor Group Carmaker's Q2 operating profit reaches 2.97 trillion won By Kim Hyun-binHyundai Motor will face more difficulties in the second half of the year due to ongoing global economic uncertainties, despite achieving record-breaking profits for the second quarter, Korea's largest carmaker said Thursday. “Global vehicle sales remain low due to disruptions in the supply of automotive parts and raw materials, including semiconductors, amid the Russia-Ukraine war and the COVID-19 pandemic. The recovery is progressing more slowly than expected,” a Hyundai Motor official said during a conference call held online.“At the same time, there are worsening external uncertainties, such as the recent increase in inflation, interest rate hikes and the resurgence of COVID-19. Global industrial demand this year was expected to recover to over 80 million vehicles at the beginning of the year, but these figure

Jul 21, 2022By Kim Hyun-bin

Hyundai Motor faces more challenges in 2nd half

Companies

SK Inc. to pay interim dividends at 1,500 won per share

SK building in Seoul / Korea Times fileBy Kim Hyun-binSK Inc. said Thursday that it will issue interim dividends for the fifth consecutive year to continue its shareholder return commitment. SK Inc. held a board meeting and decided to pay an interim dividend of 1,500 won ($1.14) per share matching its previous year, despite the uncertain business environment, Thursday. The total payment amount is similar to last year at 85 billion won.This marks the fifth consecutive year SK Inc. has paid interim dividends. After the first interim dividend of 1,000 won per share in 2018, the company has been consistently paying interim dividends in subsequent years.At the regular general shareholders' meeting in March, SK Inc. announced a stronger shareholder return policy to buy back 1 percent or more of its market cap each year through 2025.SK Inc. is concentrating on strengthening the competitiveness of its four core investment businesses, advanced materials, biopharmaceutical, green energy and digital technologies while building solid foundations and investing in future core industries.“Thi

Jul 21, 2022By Kim Hyun-bin

SK Inc. to pay interim dividends at 1,500 won per share

Companies

Controversy grows over broadcasting rights of KLPGA

By Kim Hyun-binA controversy has been growing over the broadcasting rights for the Korean Ladies Professional Golf Association (KLPGA) tour, as the bidding conditions offered by the Korea Ladies Professional Golf Tour (KLPGT) appear to favor local broadcaster SBS, which currently holds the broadcasting rights, according to industry watchers, Wednesday. JTBC Golf sent proof of its content to the KLPGT, which oversees the KLPGA tour, raising issues with the evaluation criteria. CJ's tvN Sports and SPOTV, which have comprehensive sports channels, also both oppose the bidding qualifications, saying, “It is unfair to limit the bid qualifications to golf-specialized channels.”According to KLPGT's bidding conditions, only SBS and JTBC, which have exclusive golf channels, are qualified to take part in the bidding process. However, the KLPGT rebutted the claims, stating, "The conditions necessary for the mid- to long-term development of Korean womens' golf are not favorable to a specific company." On July 11, the KLPGT announced it will receive bids for the selection of operators

Jul 20, 2022By Kim Hyun-bin

Controversy grows over broadcasting rights of KLPGA

Companies

LS Group fires up 'ambidextrous management' for growth

E1 completed the construction of an 8MW-class solar power generation complex in Jeongseon, Gangwon Province. Courtesy of LS GroupBy Kim Hyun-binLS Group is accelerating its “ambidextrous management” as it wants to expand both current and future growth opportunities amid the uncertain global business environment, according to LS officials, Wednesday. “Ambidextrous management” is an organizational strategy that promotes both main and new business simultaneously. It has been the management strategy of LS Group Chairman Koo Ja-eun, and aims to maintain a technological gap in fields such as electricity, power and materials, while boosting future growth opportunities such as renewable energy and electric vehicle (EV) charging.LS Group Chairman Koo Ja-eunChairman Koo delivered a special message saying, "We will further stimulate ambidextrous management," while speaking at the LS Executive Seminar held at the LS Tower Auditorium in Anyang, Gyeonggi Province, earlier this month. LS executive seminars have usually featured lecturers from outside of the company, but this

Jul 20, 2022By Kim Hyun-bin

LS Group fires up 'ambidextrous management' for growth

Companies

Hyundai, Rolls-Royce to develop all-electric propulsion for air mobility

Hyundai Motor Group Chairman Chung Euisun, right, poses with Rolls-Royce CEO Warren East after signing an MOU to bring all-electric propulsion and hydrogen cell technology to the advanced air mobility (AAM) market, at Supernal's booth at the Farnborough International Airshow in Hampshire, U.K., Monday. / Courtesy of Hyundai Motor GroupBy Kim Hyun-binHyundai Motor Group and Rolls-Royce are joining forces to bring all-electric propulsion and hydrogen cell technology to the advanced air mobility (AAM) market. The two companies signed a memorandum of understanding (MOU) on Monday and the partnership aims to bring together Rolls-Royce's aviation and certification capabilities and Hyundai Motor Group's hydrogen fuel cell technologies.Both companies share the vision of leading the way in the AAM market, delivering batteries and fuel cells to the urban air mobility (UAM) and regional air mobility (RAM) markets and advancing sustainable aviation.“We are pleased to partner with Rolls-Royce to draw upon their aviation and certification expertise to accelerate the development of hydrogen f

Jul 19, 2022By Kim Hyun-bin

Hyundai, Rolls-Royce to develop all-electric propulsion for air mobility

Companies

Renault Korea union set to hold strike

Renault Korea Busan plant / Courtesy of Renault KoreaBy Kim Hyun-binThe Renault Korea union is preparing to go on strike, filing for a labor dispute mediation with the National Labor Relations Commission (NLRC), Friday. The union announced in a two-day vote that ended on Thursday, 1,332, or 80.6 percent of 1,653 union members who participated in the vote, agreed on the industrial action to secure the legal right to strike. The union has a total of 1,852 members. Renault Korea CEO Stephane DeblaiseFollowing the decision by the union members, the union filed for a labor dispute mediation with the National Labor Relations Commission, Friday. As long as there are no major incidents, the union will have the right to strike legally from July 26, after 10 days of mediation by the commission."There will likely be one or two mediation meetings, but the company's position is not expected to change,” a union official said.Labor and management held the 5th main negotiations on July 7, but could not narrow their differences on the “multi-year collective bargaining agreement,” wh

Jul 16, 2022By Kim Hyun-bin

Companies

Samyang introduces new sweetener brand in global market

Samyang Corp. executives and employees who participated in the International Food Technology Expo in Chicago, pose for a commemorative photo at the event held during July 11 through July 13. Samyang unveiled the allulose-based brand Nexweet to the global market for the first time at this exhibition. Courtesy of Samyang Corp.By Kim Hyun-binSamyang Corp. is busy marketing its latest artificial sweetener in the global market.The chemical and food product manufacturer introduced Nexweet, an allulose sweetener, at the International Food Technology Fair (IFT 2022) that was held in Chicago, U.S. from July 11 to July 13.Allulose is a sugar found in figs and grapes. As it has a sweetness similar to sugar but zero calories, Samyang claims it is the best next-generation sweetener. The brand name Nexweet is a combination of next and sweet.Following the successful mass production of liquid allulose in 2016 with an enzyme it had developed, the company recently built a dedicated plant in Ulsan and started the production of crystalline (powdered) allulose. Crystalline allulose is easier to handle th

Jul 15, 2022By Kim Hyun-bin

Companies

Mercedes-Benz helps underprivileged children

Thomas Klein, chairman of Mercedes-Benz CSR Committee, left, poses with Busan Mayor Park Heong-joon, after the carmaker donated 250 million won ($192,000) to Busan Metropolitan City to support underprivileged children and teenagers in the southern port city, during an event held at city hall, Tuesday. The company raised a total of 530 million won during the 9th GIVE 'N RACE event on June 4 to 5. It also donated the remaining 280 million won to other community support organizations in the city. / Courtesy of Mercedes-Benz

Jul 12, 2022By Kim Hyun-bin

Kim Hyun-bin

Read more

Online education stocks soar as gov't strengthens COVID-19 quarantine guidelines

Will Samsung and Lotte chiefs receive pardons?

Hyundai Motor faces more challenges in 2nd half

SK Inc. to pay interim dividends at 1,500 won per share

Controversy grows over broadcasting rights of KLPGA

LS Group fires up 'ambidextrous management' for growth

Hyundai, Rolls-Royce to develop all-electric propulsion for air mobility

Renault Korea union set to hold strike

Samyang introduces new sweetener brand in global market

Mercedes-Benz helps underprivileged children

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