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Mon, April 19, 2021 | 15:28
LG Energy to chip in $950 million for EV battery plant with GM
LG Energy to chip in $950 million for EV battery plant with GM
South Korean battery maker LG Energy Solution said Friday it will spend 1.06 trillion won ($950 million) to build a battery factory in the United States with American automaker General Motors. In a regulatory filing, LG Energy, wholly owned by LG Chem, said that it and GM will each invest the same amount in their joint venture, Ultium Cells, to step up electric vehicle (EV) b...
2021-04-16 21:18
Pardon for imprisoned Samsung chief proposed
Pardon for imprisoned Samsung chief proposed
Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki, third from right, Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won, second from right, and Korea Enterprises Federation Chairman Sohn Kyung-shik, fourth from right, pose with other heads of business associations during a meeting hosted by the KCCI at its headquarters in central Seoul, Fr...
Yi Whan-woo | 2021-04-16 16:42
POSCO to terminate joint venture with firm backed by Myanmar junta
POSCO to terminate joint venture with firm backed by Myanmar junta
POSCO announced Friday that its affiliate, POSCO C&C, will terminate a joint venture with a firm backed by the military in Myanmar. The world's fifth-largest steelmaker has been under fire for its business ties with Myanmar's military junta that seized power in February. POSCO has claimed that the joint venture, Myanmar POSCO C&C (MPCC), is its only link to the military junta.
Yi Whan-woo | 2021-04-16 14:09
Korean consortium to produce Russia's Sputnik V vaccine for export
Korean consortium to produce Russia's Sputnik V vaccine for export
South Korean biotech company Huons Global said Friday that it has signed a technology transfer deal with Russia's sovereign wealth fund to produce a Russian COVID-19 vaccine in South Korea. Under the agreement with the Russian Direct Investment Fund, the Huons Global-led consortium will manufacture Sputnik V in South Korea.
2021-04-16 11:08
Hyundai Motor Group moving toward governance restructuring
Hyundai Motor Group moving toward governance restructuring
Hyundai Motor Group appears to be geared toward streamlining its governance structure, starting with an initial public offering (IPO) of its plant engineering affiliate Hyundai Engineering. On Wednesday, Hyundai Engineering confirmed that it sent major brokerage firms proposals for an IPO on the country's main KOSPI bourse.
Yi Whan-woo | 2021-04-14 16:36
Top conglomerate chiefs hold 1st get-together after Chey's KCCI chairmanship
Top conglomerate chiefs hold 1st get-together after Chey's KCCI chairmanship
The leaders of the three of the country's four largest conglomerates had their first get-together recently to congratulate SK Group Chairman Chey Tae-won on officially beginning his term as the head of the Korea Chamber of Commerce and Industry (KCCI), the country's major business lobby group. Industry sources said Sunday that Chey met Chung Eui-sun of Hyundai Motor Group and...
Yi Whan-woo | 2021-04-12 09:15
Samsung, SK request gov't for more support to overcome chip shortage
Samsung, SK request gov't for more support to overcome chip shortage
Local semiconductor companies have requested the government for aid in order to better overcome the global chip shortage. The Minister of Trade, Industry and Energy Sung Yun-mo hosted an event with major industry representatives from the Korea Semiconductor Industry Association (KSIA) and conglomerates officials at the Westin Chosun Hotel in Seoul, Friday to brainstorm ways t...
Kim Hyun-bin | 2021-04-09 16:47
  • Hyundai expands plant suspension on chip shortage
Nike ends lawsuit over Lil Nas X 'Satan Shoes,' which will be recalled
Nike ends lawsuit over Lil Nas X 'Satan Shoes,' which will be recalled
Nike Inc said on Thursday a Brooklyn company that made "Satan Shoes" in collaboration with the rapper Lil Nas X has agreed to voluntarily recall the shoes, as part of a legal settlement with the athletics giant. The settlement with MSCHF Product Studio Inc resolves a trademark infringement lawsuit that Nike filed last week over the black-and-red, devil-themed sneakers, which ...
2021-04-09 14:33
Celltrion founder is Korea's richest man: Forbes
Celltrion founder is Korea's richest man: Forbes
The richest person in Korea is Celltrion Chairman Seo Jung-jin, according to Forbes's World's Billionaires List of 2021 revealed Tuesday (local time). The American business magazine estimated the assets of billionaires around the world based on a number of factors, including their company's stock price and exchange rates.
Kim Jae-heun | 2021-04-08 16:50
Samsung Electronics enjoys 44% jump in Q1 operating profit
Samsung Electronics enjoys 44% jump in Q1 operating profit
Samsung Electronics said Wednesday that it recorded an estimated 9.3 trillion won ($8.3 billion) in operating profit in the first quarter, up 44.2 percent from a year ago, on the back of solid sales of smartphones following the release of its flagship Galaxy S21 series. In a preliminary earnings report, the electronics giant estimated total sales to have jumped 17.5 percent t...
Kim Hyun-bin | 2021-04-07 17:01
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Top 10 Stories
  • History of oranges in Korea may be bit too tangy for locals
  • Con man gets 18 months in prison for romance scam
  • Seoul City suffers e-scooter parking problem
  • Korea's Fukushima water protest finds no US support
  • Legal loophole allows sex doll shops to open around schools
  • Chip constraints create domino effect in Korea's auto industry
  • A home of one's own
  • The end of capitalism?
  • Ruling or fleeing North Korea's hell
  • New virus cases in 600s for 4th day as sporadic infections continue
DARKROOM
  • Ending 'Endless War'

    Ending 'Endless War'

  • Locust outbreak

    Locust outbreak

  • Death toll rises as protests continue in Myanmar

    Death toll rises as protests continue in Myanmar

  • Say 'NO' to racism (Part 2)

    Say 'NO' to racism (Part 2)

  • Say 'NO' to racism (Part 1)

    Say 'NO' to racism (Part 1)

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