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Thu, September 21, 2017 | 05:13

Biz & Tech > Heavy industries >

Samsung Heavy hires Australian safety expert

Samsung Heavy Industries has recruited an occupational safety engineer from Australia to beef up its tarnished image following a series of safety-related lapses in recent months. Korea’s third-largest shipbuilder said Monday it hired Peter Hayward as an executive director in charge of overseeing the firm’s safety-related matters. The company had been looking for an engineer w...

Heavy industries | 2017-09-18 16:05

Dongwha invites foreign employees to Korea

Dozens of foreign workers from Dongwha Group’s overseas branches went to the Traditional Crafts Center, one of the traditional Korean-style houses at Bukchon Hanok Village in Seoul, Tuesday last week. Wearing traditional Korean clothing, hanbok, the employees from Vietnam, Malaysia, Australia and India made traditional Korean paper dolls. Although some of them felt awkward ab...

Heavy industries | 2017-09-17 13:52

KOGAS to import gas from US, Iran

Korea Gas Corp. (KOGAS) is considering importing natural gas from the United States and Iran to diversify its import sources away from the Middle East and Africa. It also plans to explore opportunities to acquire gas field stakes in the two countries. “We will actively consider bringing natural gas from the U.S. as our supply contracts with Qatar and Oman are set to expire by...

Heavy industries | 2017-09-14 19:23

Fiat Chrysler, Mercedes-Benz to recall 4,419 vehicles

Fiat Chrysler Automobiles and Mercedes-Benz will recall over 4,000 vehicles sold in South Korea to replace faulty parts in air bags and seat belts, the transport ministry said Thursday.

Heavy industries | 2017-09-14 10:59

Creditors reject Kumho Tire self-rescue plan

Creditors of Kumho Tire rejected the cash-strapped tire maker’s self-rescue plan Tuesday, demanding it propose more drastic measures to bolster its sales and improve its financial health. Hours after Kumho Asiana Group submitted the 730 million won ($646 million) restructuring package, the state-run Korea Development Bank (KDB) and other creditors dismissed the package, calling it “insufficient.” According to creditors, Kumho Asiana Group Chairman Park Sam-koo proposed to secure 330 billion won through issuing new stock while selling off shares of the group’s construction affiliate. Taking a...

Heavy industries | 2017-09-12 17:56

KNOC, KOCOAL chiefs ordered to quit

Sources within the government said Monday it is considering dismissing the heads of state-run enterprises embroiled in alleged recruiting irregularities unless they voluntarily step down. Rumors are going around that the Ministry of Trade, Industry and Energy urged some of the chief executives to resign. These include Korea National Oil Corp. (KNOC) CEO Kim Jung-rae, Korea Co...

Heavy industries | 2017-09-11 16:28

POSCO to give more money to subcontractors

POSCO will gradually increase its spending on subcontractors by 100 billion won ($88 million) over the next three years to give more money to subcontracted workers. The nation’s top steelmaker said Sunday it recently accepted its subcontractors’ demands. More than 15,000 subcontracted workers at POSCO’s plants in Pohang, North Gyeongsang Province, and in Gwangyang, South Jeolla Province, are expected to benefit. The measure is expected to boost the areas’ economies.

Heavy industries | 2017-09-10 17:03

SK Innovation adopts cymatics art for new ads

SK Innovation unveiled its new advertisement expressed in the style of cymatics art last week, beginning its third public relations (PR) campaign, “Big Picture of Innovation.” Cymatics art is an art form, which visualizes sound waves passing through air, water and sand. The term cymatics is derived from a Greek word meaning “wave.” SILO Lab, a local performance group which cr...

Heavy industries | 2017-09-10 16:54

LIG Nex1 barred from bidding over radar scandal

LIG Nex1 has been banned from taking part in bids organized by the government and public institutions for three months, for allegedly fabricating documents on the performance assessment of its long-range radar. According to the local defense company on Sunday, the Defense Acquisition Program Administration (DAPA) imposed the restrictions after the Board of Audit and Inspectio...

Heavy industries | 2017-09-10 16:28

Daelim Group suspected of unfair practices

Korea’s Fair Trade Commission (FTC) is investigating Daelim Group for allegedly practicing unfair inside transactions favoring its subsidiaries. According to the antitrust watchdog agency, Monday, 20 investigators searched a head office of Daelim Cooperation, the holding company of which the Lee family owns 67.1 percent of shares, to secure evidence including the company’s account books.

Heavy industries | 2017-09-05 18:28

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