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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.

Possible inter-Korean thaw sparks surge in reunification-related stocks

Stocks related to inter-Korean economic cooperation surged as signs of easing military tensions between North and South Korea emerged, market analysts said Thursday. According to the Korea Exchange, shares of Ananti closed at 9,870 won ($7.27), a whopping 26.7 percent increase from the previous day. The resort hotel operator previously built a golf course and resort in North Korea's Mount Geumgang. Hyundai Elevator, which holds a stake in Hyundai Asan — the company that owns the rights to the Mount Geumgang tourism project and the development of the Gaeseong Industrial Complex — also closed at 84,300 won, marking a 7.25 percent increase from the previous session. Other related stocks also posted strong gains. Good People, In the F and Ilshin Stone rose by 7.28 percent, 12.67 percent and 5.39 percent, respectively, due to their past operations in the Gaeseong Industrial Complex. The upward momentum was sparked by President Lee Jae-myung’s directive on Wednesday to suspend loudspeaker broadcasts toward the North. In response, North Korea halted its own propaganda broadcasts toward th

Jun 12, 2025By Lee Yeon-woo
Possible inter-Korean thaw sparks surge in reunification-related stocks

FTC rejects Korean Air’s mileage integration plan

The nation’s antitrust watchdog rejected Korean Air’s proposed plan to integrate mileage points with Asiana Airlines Thursday, citing concerns that the proposal may harm the interest of Asiana’s customers. Details for the mileage merger plan have not been disclosed, but the Fair Trade Commission (FTC) said the latest proposal by Korean Air needs to be “immediately revised and supplemented.” The agenda was one of the hot potatoes for the high-profile merger of the two carriers. This is because Korean Air’s mileage points are typically valued higher in the market. However, the flag carrier cannot apply the market value, as this will draw backlash from Asiana’s customers. There is also a strong possibility that the antitrust authority flatly denies such a move, citing the need to protect the rights of Asiana customers. The general view is that mileage points from Korean Air and Asiana Airlines will be integrated at a 1-to-1 ratio, following in the footsteps of similar overseas cases. For instance, Delta Air Lines and Northwest Airlines integrated their mileage points with the

Jun 12, 2025By Lee Min-hyung
FTC rejects Korean Air’s mileage integration plan

China’s Doublestar under increasing pressure to support Kumho Tire

Doublestar, the Chinese tire manufacturer that acquired Kumho Tire in 2018, is facing growing pressure to provide financial support to the Korean tire company, which was severely impacted by a devastating factory fire last month. Kumho Tire is still dealing with the aftermath of the fire that completely burned down one of its two production lines in the southwestern city of Gwangju. The loss is expected to result in a massive earnings drop for the company, and thousands of workers from the company and its partner firms are also at risk of losing their jobs. However, Doublestar, which holds a 45 percent stake in Kumho Tire, has kept a low profile, taking no specific actions to help stabilize the company's operations. In response, union members of Kumho Tire recently traveled to the Chinese city of Qingdao to meet with Doublestar’s management and urge them to take prompt action by supplying funds for the cash-strapped tire company. “Doublestar has not presented any alternative action plans regarding the latest factory fire, apparently because the Chinese firm is walking on eggshells ar

Jun 12, 2025By Lee Min-hyung
China’s Doublestar under increasing pressure to support Kumho Tire

ExclusiveGlass Lewis backs proposed probe into terminated Hanwha-REC Silicon deal

Glass Lewis, one of the world's most influential proxy advisers, has sided with minority shareholders of REC Silicon, who have locked horns with the Norwegian silicon materials maker's largest shareholder, Hanwha Group. In a report published Tuesday, the proxy adviser recommended that REC Silicon investors vote for a shareholder proposal to initiate an investigation into the termination of its supply agreement with Hanwha Q Cells in January. The termination followed the abrupt shutdown of REC Silicon's Moses Lake plant in the United States late last year, which led the company's stock price to plunge 50 percent on the first trading day of this year — from 3.59 Norwegian krone ($0.36) to 1.79 krone. "We believe the proposed investigation could strengthen the alignment of shareholder interests with those of the company's management through establishing evident compliance with the applicable laws and regulations discussed by the board," Glass Lewis said. According to REC Silicon's regulatory filing posted ahead of its annual general meeting of shareholders scheduled for June 25, four undi

Jun 12, 2025By Park Jae-hyuk
Glass Lewis backs proposed probe into terminated Hanwha-REC Silicon deal

PHOTO Free dental checkup service

A Haleon Korea official promotes a free dental checkup bus service in Nowon District, Seoul, Wednesday. In celebration of the 10th anniversary of Denture Day, the company partnered with the Korean Academy of Prosthodontics to offer free denture and prosthetic checkups, aiming to raise awareness of proper oral health care. Denture Day, observed on July 1, commemorates the implementation of revised national health insurance coverage for dentures. Courtesy of Haleon Korea

Jun 12, 2025By Nam Hyun-woophoto
[PHOTO] Free dental checkup service

PHOTO HD Hyundai launches OPV for Philippine Navy

Joo Won-ho, sixth from left, head of HD Hyundai Heavy Industries (HD HHI) Naval & Special Ships Business Unit, and Gen. Romeo Brawner, seventh from left, chief of staff of the Armed Forces of the Philippines, pose with participants in the launching ceremony of BRP Rajah Sulayman at the Korean shipbuilder's shipyard in Ulsan, Wednesday. The BRP Rajah Sulayman is the first of six offshore patrol vessels that HD HHI will deliver to the Philippine Navy by 2028. Courtesy of HD Hyundai

Jun 12, 2025By Park Jae-hyukphoto
[PHOTO] HD Hyundai launches OPV for Philippine Navy

Hanjin, LS deepen business ties to counter Hoban

Hanjin Group and LS Group are deepening their business alliance to counter Hoban Group’s aggressive stock purchases of the two firms. The move is aimed at fending off Hoban, best known for its construction business, which has engaged in a buying spree of shares in Hanjin KAL and LS Group. Hanjin KAL is the holding firm of Hanjin Group. Hoban Group recently increased its stake in Hanjin KAL to 18.46 percent, narrowing the gap to just 2.29 percentage points with Hanjin Group Chairman Cho Won-tae, who holds 20.75 percent. Hoban also acquired over a 3-percent stake in LS Group, posing a potential threat to the management rights of both firms. In response, Hanjin and LS signed three memorandums of understanding (MOUs) in April and May, in an apparent move to overcome the uncertain management environment. Last month, Korean Air, a flagship aviation business affiliate from Hanjin Group, decided to forge ties with LS Electric, which offers power equipment and smart factory consulting and maintenance services, in aerospace and defense at the International Maritime Defense Industry Exhibition. T

Jun 12, 2025By Lee Min-hyung
Hanjin, LS deepen business ties to counter Hoban

Hyundai Steel suspends operations at Pohang No. 2 plant amid industry slump

Hyundai Steel, Korea's second-largest steel manufacturer, has temporarily shut down its No. 2 plant in the southeastern city of Pohang, North Gyeongsang Province, due to a prolonged industry-wide slump, the company said Wednesday. The suspension took effect Saturday due to a lack of production volume amid a severe industry-wide demand contraction. A company official said future decisions will be made through discussions with the labor union. The latest move marks a reversal from Hyundai Steel's earlier decision. In November last year, the company, a unit of Hyundai Motor Group, announced a plan to close the plant due to low operations but later reversed it following strong opposition from the union. The company decided to scale down operations instead. However, continued weakness in global demand, compounded by sluggish domestic market conditions, has led to the latest decision for a full suspension of operations at the facility. The company has been dealing with a tough business environment this year, including steel tariffs imposed by Washington under U.S. President Donald Trump. Earli

Jun 11, 2025By Yonhap
Hyundai Steel suspends operations at Pohang No. 2 plant amid industry slump

SK On CEO highlights need for tech talent in battery industry

SK On CEO Lee Seok-hee Tuesday emphasized the importance of cultivating technology talent to drive the future of the battery industry during a lecture at the Korea Advanced Institute of Science and Technology (KAIST). Speaking to about 100 students and faculty at the research university in Daejeon, Lee said the company views hands-on experience in research and manufacturing as essential to long-term success. “The future of the battery industry ultimately depends on technology talent,” said Lee, who previously served as a professor of electrical engineering at KAIST from 2010 to 2012. “We place the highest value on hands-on experience in R&D and manufacturing.” Lee introduced SK On’s core identity as a growth-focused, innovation-driven company and presented its latest battery technologies, including high-voltage mid-nickel batteries and cell-to-pack solutions. He said the company’s products lead the industry in energy density, charging speed and safety. “The battery business is a technology-driven manufacturing sector,” he said. “We are committed to enhancing our technol

Jun 11, 2025By Park Jae-hyuk
SK On CEO highlights need for tech talent in battery industry

Jollibee ramps up expansion with Norang Tongdak, Compose Coffee acquisition

The Philippines' Jollibee Foods Corp. (JFC) is poised to take over a Korean fried chicken franchise, Norang Tongdak — translated literally as "yellow chicken" — following its acquisition last July of the Korean low-priced coffee shop chain Compose Coffee. Its aggressive expansion has been interpreted as a signal of its optimistic outlook for the Korean food and beverage industry, despite intensifying competition in a market with low entry barriers, high price sensitivity and poor brand loyalty. According to industry officials on Wednesday, JFC's Korean subsidiary was recently selected as the preferred bidder to acquire a 100 percent stake in Norang Food, the operator of Norang Tongdak, for about 130 billion won ($95 million) by August from two private equity firms — Corstone Asia and Q Capital Partners. The deal is reportedly backed by Elevation Equity Partners, another private equity firm that financed JFC's acquisition of the entire stake in Compose Coffee for about 470 billion won. "If this acquisition is finalized, it would signify increasing efforts by Jollibee Foods to expand

Jun 11, 2025By Park Jae-hyuk
Jollibee ramps up expansion with Norang Tongdak, Compose Coffee acquisition
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