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Biz & Tech

Manufacturing

Wed, April 21, 2021 | 04:47

Moderna considers establishing Korean affiliate

Moderna is considering establishing an affiliate in Korea, with the U.S.-based biotech company letting a local company handle the production of its COVID-19 vaccines, a leading local brokerage said, Tuesday.

Kim Yoo-chul | 2021-04-20 16:01

Korea suffering manufacturing job exodus

A recent report shows that over 72,000 manufacturing jobs went overseas last year, a figure that could have enhanced the country's 4 percent unemployment rate by 0.3 percentage points. Over the past decade, over 500,000 jobs are expected to have gone abroad.

Kim Hyun-bin | 2021-04-20 09:08

Colombia Embassy to host event to bolster bilateral ties with Korea

The Embassy of Colombia in Korea, along with the Chamber of Commerce of Bogota, are organizing the hybrid event “Colombia - Korea: Commercial Strategies for the Americas,” to be held on Wednesday from 8:00 to 10:30 a.m. (KST), at the Presidential Palace in Bogota. The event aims to strengthen bilateral relations between Korea and Colombia and expose the trade, investment and ...

Kim Jae-heun | 2021-04-19 17:36

Is Samsung Heavy seeking to cut 30% of employees?

Samsung Heavy Industries CFO Bae Jin-han has announced through in-house broadcasting that the company could suffer capital impairment and also hinted at the possibility of a major personnel restructuring and a walkout if the deficit continues.

Kim Hyun-bin | 2021-04-19 16:09

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

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 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

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 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

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

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