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Wed, April 25, 2018 | 23:14

Biz & Tech > Heavy industries >

Hanwha opens Washington DC branch for arms business

Hanwha Group, a South Korean conglomerate, said Wednesday it has established a branch in Washington D.C. near the Pentagon as part of efforts to emerge as a key player in the local arms market. The opening ceremony was held in the U.S. capital on Tuesday (local time) and attended by more than 70 dignitaries, it said.

Heavy industries | 2018-04-25 10:05

Glasses, nail art take off for Jeju Air crew

Jeju Air has broken a long tradition of the South Korean airline industry that strictly controlled flight attendants' appearance - by allowing them to wear glasses and nail art.

Heavy industries | 2018-04-24 14:51

Job losses from restructuring hit shipyard cities

Shipyard cities and surrounding areas suffered steep job losses over a one-year period from ongoing restructuring efforts, state data indicated Tuesday. Employment and job sector figures from Statistics Korea showed the number of workers in Geoje, a city in the southeastern South Gyeongsang Province that is home to major shipbuilding facilities, dropped 12,900 to 123,400 as o...

Heavy industries | 2018-04-24 14:41

Korean Air's brand value slides after latest family scandal

The brand value of Korean Air Lines Co. has been dropping since the latest scandal surrounding the owner family erupted, and it may be outranked by its rival, according to an appraisal website Tuesday. The "share price" of Korean Air in the brand stock market, as rated by Brandstock, ended at 473,000 won (US$439) on Monday, the lowest since 467,000 won of March 29 last year.

Heavy industries | 2018-04-24 10:12

Air Daegu has long way before flight

Air Daegu's pursuit of joining the ranks of the nation's rising budget carriers is expected to face more turbulence than its predecessors. The company, founded in 2015, is seeking to secure an air operator's certification from the government by early next year, promoting economic implications of creating jobs and reviving the sluggish regional economy. However, an aviation an...

Heavy industries | 2018-04-23 15:57

LG Chem to increase investment 53% to W3.8 trillion in 2018

LG Chem plans to invest 3.8 trillion won ($3.5 billion) for capital expenditures this year, a 52 percent increase year-on-year, to strengthen the competitive power of its existing businesses and nurture new business models. The nation's leading chemical firm spent a record-high 900 billion won on R&D last year, saying it will raise its investment in this area by more than 10 ...

Heavy industries | 2018-04-22 17:02

GM Korea to pull off surplus in 2020 if restructuring takes place

GM Korea Co. the local unit of leading U.S. automaker is capable of pulling off an overall surplus in its business operations in 2020 if all sides can agree to a comprehensive restructuring plan, a preliminary report said Sunday. According to financial market sources, the due diligence being carried out on the carmaker revealed GM Korea can avoid large scale layoffs of worker...

Heavy industries | 2018-04-22 10:31

Korean firm takes US gov't to court for anti-dumping duty action

South Korea's NEXTEEL Co. said Sunday that it has taken the U.S. Commerce Department to court for the "unfair levying" of antidumping duties on its products. The steelmaker said it is contesting the final ruling taken against its oil country tubular goods (OCTG) and asked U.S. Court of International Trade (CIT) to determine the validity of the 75.81 percent duties imposed on ...

Heavy industries | 2018-04-22 09:26

'KAL owners used planes to smuggle private goods'

Allegations over inappropriate practices of Korean Air heirless Cho Hyun-ah (Heather Cho) and Cho Hyun-min (Emily Cho) are raised one after another, with a fresh allegation claiming they used the flag carrier to smuggle luxury goods, furniture items and even foods.

Heavy industries | 2018-04-20 18:10

POSCO goes beyond steel

POSCO has been a backbone of Korea's industrial development. To enrich its portfolio, the country's largest steelmaker is now expanding its business in the non-steel sector.

Heavy industries | 2018-04-19 17:48

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