my timesThe Korea Times
lkm

Lee Kyung-min

Korea Times AI content 2 team Reporter

Value context and insight. lkm@koreatimes.co.kr

Go to EmailGo to URL

Read more

Companies

POSCO Holdings faces unfavorable outlook in Q3

By Lee Kyung-min The third-quarter earnings outlook of POSCO Holdings will not be as rosy as the second quarter's, as indicated by the falling prices of steel products over the past few weeks, according to market watchers, Thursday. This is compounded by a moderate increase in supply and concerns over an economic recession fanning an industrywide slowdown. Leading the bleak outlook is decreased demand due to prolonged COVID-19 lockdowns in Shanghai and seasonal weather factors including floods. Also at play is an increasing number of Chinese steelmakers resuming factory operations after the Beijing Winter Olympics ended.The downside risks failed to offset a raw materials sector boom brought on and sustained by the Russian invasion of Ukraine, leading to revisions of earlier upbeat market outlooks by many market watchers. POSCO Holdings said Thursday that its sales in the April-June period on a consolidated basis stood at 23 trillion won ($17.5 billion), up 25.7 percent from a year earlier. Operating profit came in at 2.1 trillion won, down 4.5 percent. Net income was 1.8 trillion won

Jul 21, 2022By Lee Kyung-min
POSCO Holdings faces unfavorable outlook in Q3
Companies

Firms, gov't join hands to turn Korea into 'semiconductor superpower'

Minister of Trade, Industry and Energy Lee Chang-yang, fourth from left, and key executives of local chip manufacturers pose after signing a memorandum of understanding to foster semiconductor experts at Dongjin Semichem in Hwaseong, Gyeonggi Province, Thursday. YonhapGov't to draw $259 billion investment over 5 years, nurture 150,000 experts By Lee Kyung-min The government will increase tax incentives and push for deregulations on Korean chipmakers to stimulate investments and turn the country into a global “semiconductor superpower,” according to related ministries, Thursday.It also plans to join hands with chip manufacturers to set up an academic organization this year to train and educate over 150,000 semiconductor experts over the next decade.These are part of measures unveiled by related ministries to foster the chip industry, hobbled by heavy taxes, regulations and a shortage of highly-skilled experts. The industry, finance, labor, infrastructure, environment, science and education ministries jointly announced the plan.In a meeting with heads of local chip makers,

Jul 21, 2022By Lee Kyung-min
Firms, gov't join hands to turn Korea into 'semiconductor superpower'
Companies

Gov't criticized for plan to relocate finance ministry to new building

An illustration of a new building in Sejong Government Complex Korea Times fileBy Lee Kyung-min A group of unionized public servants based in Sejong, an administrative city south of Seoul, is calling for the scrapping of plans by the interior ministry to spend over 10 billion won ($7.6 million) to relocate the finance ministry to a new building that is located within a 10-minute walk away, according to officials, Wednesday. The finance ministry is currently housed in building 4 of the Sejong Government Complex.The construction of the new building in the Complex was approved in 2020 with the aim of housing other ministries, excluding the finance ministry. But the plan frustrates other ministries that have been housed in rented commercial buildings for the past few years waiting for construction to finish. This is why the unionized workers say that moving the finance ministry to the new building has no merit and serves no purpose, other than to show the most powerful and the most influential group of policymakers in the nation that they can have their demands met. Further weakening the

Jul 21, 2022By Lee Kyung-min
Gov't criticized for plan to relocate finance ministry to new building
Companies

Energy ministry to set up 'nuclear energy export' bureau

Shin Hanul nuclear reactors in Uljin, North Gyeongsang Province Korea Times fileBy Lee Kyung-min The energy ministry is seeking to establish a bureau dedicated to facilitating the export of Korea's nuclear power generation systems. In the latest efforts to make better use of the much-maligned yet affordable and stable source of energy for economic growth, according to officials, Wednesday.Influencing the ministry's move is a global wave of increasing dependence on nuclear energy, sparked largely by energy crisis concerns due to heightened geopolitical uncertainties and subsequent volatile fluctuations in key commodity prices.Some left-leaning voices continue to highlight the deadliest possible scenarios, as witnessed in the past due to mismanagement of nuclear power facilities. They also included the thorny question of the radioactive waste conundrum. However, the ministry says the pro-nuclear energy policies will be defined first and foremost by safety and security.The Ministry of Trade, Industry and Energy is expected to create the new bureau, soon after the ongoing government's re

Jul 20, 2022By Lee Kyung-min
Energy ministry to set up 'nuclear energy export' bureau
Companies

KEPCO employees steal W7 bil. of electricity

A woman walks by gas meters in Seoul, June 30. Korea raised electricity and gas rates in July. Korea Times fileBy Lee Kyung-min A number of employees of debt-ridden state-run energy firm Korea Electric Power Corp. (KEPCO) have stolen almost 7 billion won worth of electricity over the past five years by manipulating metering equipment. The theft came to light as KEPCO already finds itself in financial trouble, with an operating loss for the first half of the year estimated at around 14 trillion won ($10.6 billion), according to market watchers, Tuesday.Data from WiseReport, a financial data provider, estimated KEPCO's operating loss for the April-June period to be 5.35 trillion won. This is less bleak of an outlook than the 6.2 trillion won operating loss projected by Hana Securities.Hana's figure together with the state-run entity's first-quarter operating loss of 7.78 trillion won raises the total up to 14 trillion won.Hana Securities said the recent increase in KEPCO's electricity prices tied to raw material and power-generation costs is unlikely to offset spiking global commodity

Jul 19, 2022By Lee Kyung-min
KEPCO employees steal W7 bil. of electricity
Companies

Infrastructure ministry vows to revive Korea's overseas construction boom

Minister of Land, Infrastructure and Transport Won Hee-ryong. Korea Times fileBy Lee Kyung-min The government will help builders win overseas construction contracts totaling $50 billion (65.8 trillion won) each year, as part of a broader policy initiative to revive the local industry that has yet to bounce back from years of stagnation, the infrastructure ministry said Monday. The Ministry of Land, Infrastructure and Transport said local builders with greater, more advanced capabilities will be able to meet overseas construction demands, especially from war-torn Ukraine and Iraq, among other countries in need of advanced city planning.The ministry said it can provide a “construction package” encompassing the establishment of railways, airports and cities. Also in demand will be, the ministry said, smart technology-mediated city planning and landscape building, an area of expertise Korea has nurtured over the past few years.“We will take a leap forward in overseas construction through what we have termed 'K-Smart Infrastructure,' set to be announced next month,&rdquo

Jul 18, 2022By Lee Kyung-min
Infrastructure ministry vows to revive Korea's overseas construction boom
Companies

DSME subcontractors face mounting pressure to end strike

Subcontractors of Daewoo Shipbuilding & Marine Engineering (DSME) hold a hunger strike in front of Korea Development Bank, Seoul, July 14. Korea Times filePresident calls for immediate halt of illegal occupation of dockyardBy Lee Kyung-min The ongoing strike by over 150 unionized subcontractors of Daewoo Shipbuilding & Marine Engineering (DSME) is rapidly losing ground, as indicated by a court-ordered fine that delegitimized the collective action, according to industry watchers, Monday. The ruling by the Tongyeong unit of Changwon District Court in South Gyeongsang Province is the latest blow to the strike that began June 2, compounded further by a number of the shipbuilder's partner firms being pushed to the brink of collapse.The court ruled July 16 that striking subcontractors occupying a dock at DSME's shipyard on Geoje Island should leave the premises or pay a fine of 3 million won ($2,270) a day to the shipbuilder.The court said the strike by unionized subcontractors is not a legitimate collective action seeking dispute mediation and added that the shipbuilder stands to

Jul 18, 2022By Lee Kyung-min
DSME subcontractors face mounting pressure to end strike
  • Yoon says 'waited long enough' for DSME strike to end
Companies

Calls mount to pardon Samsung and Lotte chiefs

Samsung Electronics Vice Chairman Lee Jae-yong / Korea Times file By Lee Kyung-min Calls are mounting to pardon Samsung Electronics Vice Chairman Lee Jae-yong and Lotte Group Chairman Shin Dong-bin, fanned by expectations of an economic recovery led by the private sector to navigate Korea's economy, which faces challenging downside risks both from within the country and abroad, according to market watchers, Friday.Many say President Yoon Suk-yeol should pardon the top corporate decision makers, who were indicted on bribery charges, in order to stimulate investments and create more jobs, helping the economy deal with the protracted COVID-19 pandemic and surging prices of goods and services.Most expect the presidential pardon will come on Aug. 15 Liberation Day. Whether political figures, including former President Lee Myung-bak and former South Gyeongsang Province Governor Kim Kyoung-soo, will be eligible for the special pardon remains to be seen.

Jul 15, 2022By Lee Kyung-min
Calls mount to pardon Samsung and Lotte chiefs
Companies

DSME subcontractors' union continues hunger strike seeking pay raise

Unionized subcontractors of Daewoo Shipbuilding & Marine Engineering (DMSE) hold a rally before starting a hunger strike in front of Korea Development Bank, Seoul, Thursday. Yonhap.By Lee Kyung-minA month-long strike by unionized subcontractors of Daewoo Shipbuilding & Marine Engineering (DMSE) has developed into a hunger strike after the workers failed to receive mediation or assistance from the labor and industry ministries a day earlier, according to industry watchers, Friday.Their collective struggle has been met by rallies held jointly by full-time regular workers of the shipbuilder based in Geoje Island, South Gyeongsang Province, as well as the island's residents.The full-time workers and island residents fear that the drawn-out protest by the hardline workers will come at the expense of a much-awaited recovery in Korea's leading manufacturing sector. Korean shipbuilders are one of the country's growth drivers and top global players, having secured 45 percent of the advance orders around the world in the first half of this year, after years of an industry-wide slowdown

Jul 15, 2022By Lee Kyung-min
DSME subcontractors' union continues hunger strike seeking pay raise
Companies

Samsung develops industry's fastest graphics DRAM

An image of Graphics Double Data Rate 6 (GDDR6) Synchronous Dynamic Random-Access Memory (DRAM) developed by Samsung Electronics. Courtesy of Samsung ElectronicsBy Lee Kyung-minSamsung Electronics has released a graphics DRAM that can process a download of 275 full high definition (FHD) movies in one second, the fastest in the industry, according to the global leader in memory chipmaking, Thursday.This is enabled by Graphics Double Data Rate 6 (GDDR6) Synchronous Dynamic Random-Access Memory (DRAM), a type of synchronous graphics random-access memory with high bandwidth. It has a “double data rate” interface, designed for use in graphics cards, game consoles and high-performance computing.The graphics DRAM market is expected to log double-digit growth every year, powered by soaring demand for high-performance computing (HPC) and autonomous vehicles.The firm said GDDR6 DRAM with a speed of 24 gigabits per second (Gbps) can process up to 1.1 terabytes (TB) of data per second if mounted on high-performing graphics cards.The operating speed was increased by over 30 percent co

Jul 14, 2022By Lee Kyung-min
Samsung develops industry's fastest graphics DRAM
previous page
173174175176177
next page

Top 5 stories

Korea Times
About Us
Introduction
History
Contact Us
Products & Services
Subscribe
E-paper
RSS Service
Content Sales
Site Map
Policy
Code of Ethics
Ombudsman
Privacy Policy
Youth Protection Policy
Terms of Service
Copyright Policy
Family Site
Hankookilbo
Dongwha Group
FacebookXYoutubeInstagram
CEO & Publisher: Oh Young-jinDigital News Email: webmaster@koreatimes.co.krTel: 02-724-2114Online newspaper registration No: 서울,아52844Date of registration: 2020.02.05Masthead: The Korea TimesCopyright © koreatimes.co.kr. All rights reserved.