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Biz & Tech

Manufacturing

Sun, March 29, 2020 | 21:56

LG to halt G series smartphone production

LG to halt G series smartphone production

LG Electronics will end production of its flagship G series smartphone and introduce a new mass premium product in the first half of the year, the company said Sunday. The move is aimed at better appealing to consumers and, in turn, overcome close to a five year deficit in the smartphone market.

Kim Hyun-bin | 2020-03-29 17:01

Uncertainties set to engulf Korea's key manufacturers

Uncertainties set to engulf Korea's key manufacturers

The COVID-19 pandemic has taken a major toll on key local industries forcing them to close overseas factories amid drastically dropping consumption.

Kim Hyun-bin | 2020-03-29 15:56

COVID-19 test kits of Korean companies get preliminary FDA approval

COVID-19 test kits of Korean companies get preliminary FDA approval

Three South Korean-made COVID-19 test kits have obtained preliminary approval from the U.S. Food and Drug Administration (FDA), the foreign ministry said Saturday. The initial FDA approval will immediately allow the manufacturers to sell the products in the United States, where confirmed coronavirus cases have surpassed 100,000, an official at the Ministry of Foreign Affairs ...

2020-03-28 19:34

KDB, Eximbank to offer W1 tril. to ailing Doosan Heavy

KDB, Eximbank to offer W1 tril. to ailing Doosan Heavy

The Korea Development Bank (KDB) and the Export-Import Bank of Korea (Eximbank) will offer a 1 trillion won ($822.8 million) line of credit to Doosan Heavy Industries & Construction to salvage the nuclear power equipment firm from its liquidity crunch.

Nam Hyun-woo | 2020-03-27 16:54

Moody's put Hyundai, Kia on downgrade review

Moody's put Hyundai, Kia on downgrade review

Fears over liquidity crunches are growing among top-tier firms in Korea, as credit ratings agencies are issuing negative outlooks on their credit amid the economic fallout of the COVID-19 outbreak.

Nam Hyun-woo | 2020-03-27 16:53

SolGent to export COVID-19 detection kits to US

SolGent to export COVID-19 detection kits to US

SolGent, a subsidiary of Korean genome sequencing company EDGC, will export its COVID-19 detection kits to the United States, where cases have been soaring over the past few weeks. SolGent told The Korea Times Thursday that it has signed a letter of intent (LOI) with several U.S. states, including New York, California and Nevada, to sell its kits (DiaPlexQ) for 1 million test...

Jung Min-ho | 2020-03-26 15:28

LG Chem offers helping hand

LG Chem offers helping hand

LG Chem employees pose with an official from the Community Chest of Korea after delivering a donation of 100 million won ($81,230), Tuesday. The company said its employees made a donation of 10,000 won each in a bid to help medical staff who are working for the recovery of coronavirus patients and virus-hit small business owners. / Courtesy of LG Chem

Baek Byung-yeul | 2020-03-25 17:19

Virus-hit firms cut back salaries of execs

Virus-hit firms cut back salaries of execs

A growing number of companies are cutting back salaries of their executives as part of their efforts to cope with the worsening business environment as the COVID-19 pandemic continues, according to company officials Wednesday.

Baek Byung-yeul | 2020-03-25 17:18

SK Holdings keeps dividend same despite weaker profits

SK Holdings keeps dividend same despite weaker profits

SK Holdings decided to keep its dividend ratio unchanged despite its net profit declining significantly.

Nam Hyun-woo | 2020-03-25 16:19

LSIS eyes overseas expansion with new name LS ELECTRIC

LSIS eyes overseas expansion with new name LS ELECTRIC

LS Industrial Systems (LSIS) has changed its corporate name to LS ELECTRIC, clarifying its determination to expand its electrical equipment business overseas, the company said Tuesday.

Baek Byung-yeul | 2020-03-24 17:02

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