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Reporter : Park Jae-hyuk
Sun, November 27, 2022 | 15:06
HDC, Mirae Asset lose in $190-million lawsuit over failed Asiana takeover
HDC Hyundai Development Company and Mirae Asset Securities are not entitled to be refunded the combined 250 billion won ($190 million) they had paid previously for their acquisition of Asiana Airlines from its parent company, Kumho E&C, which eventually ended in failure, according to a court ruling, Thursday. The Seoul Central District Court accepted the request from Asiana a...
ASML to build repair, engineer training centers in Hwaseong
ASML, a Dutch semiconductor equipment firm known as the world's sole producer of extreme ultraviolet (EUV) lithography machines, will start the construction of its repair center and engineer training center in Hwaseong, Gyeonggi Province, Wednesday, by investing 240 billion won ($182 million) until 2025, according to the industry ministry, Tuesday.
Saudi crown prince accelerates S-Oil's transition to petrochemical sector
Saudi Arabia's Crown Prince Mohammed bin Salman's forthcoming visit to Korea this Thursday is expected to prompt Aramco-owned S-Oil to speed up its efforts for its vision of “oil to chemical,” according to industry officials, Tuesday. The refiner will reportedly hold a meeting of its board of directors at its Seoul headquarters on the day of the crown prince's arrival to Kore...
Dongwha opens R&D center
Dongwha Group Chairman Seung Myung-ho, fifth from left, cuts the ribbon with participants at the grand opening ceremony for Dongwha R&D Center in Incheon, Tuesday. The center was built for research in fine chemistry and electrolytes. From left are Donghwa R&D Center head Kim Jeong-soo, Dongwha Enterprise Senior Vice President Chae Kwang-byeong, Dongwha Group Vice Chai...
Sales of Burger King Korea, Mom's Touch in limbo
Uncertainties have been growing over the sales of the Korean units of McDonald's, Burger King and KFC, as well as Mom's Touch, as the current owners struggle to find interested buyers, according to industry officials, Monday. Since their current owners put the fast food franchises up for sale earlier this year, capital market insiders have regarded the firms as overvalued.
'Milkflation' effects seen across food industry
The sharpest-ever raw milk price hike has not only resulted in a rise in milk prices, but also caused worries over additional increases in the prices of dairy products, such as cheese, flavored milk, ice cream, bread and coffee. Binggrae, for example, announced on Friday that its flagship Banana-flavored Milk in a 240-milliliter plastic bottle will be sold for 1,700 won ($1.3...
Will refiners' profitability worsen further in Q4?
Korea's four largest oil refiners showed a sharp decline in their third-quarter operating profits, raising questions about the possibility of further deterioration in their profitability during the fourth quarter, according to industry officials, Sunday. The sum of their third-quarter operating profits was 2.7 trillion won ($2 billion), down 63.7 percent from the previous qua...
HD Hyundai boosts ties with Saudi Arabia
HD Hyundai CEO Chung Ki-sun, left, listens to Saudi Arabia Minister of Investment Khalid A. Al-Falih, second from right, at Four Seasons Hotel Seoul, Friday. HD Hyundai said Sunday that they talked about the progress of the company's collaboration with Aramco in shipbuilding and engine manufacturing, as well as ways for the Korean firm to support the “Saudi Vision 2030&...
Amazon-owned Twitch threatens to leave Korea due to regulations
Twitch, the world's leading video streaming platform owned by Amazon.com, announced abruptly on Thursday that it will stop providing VOD content services in Korea. The move is being perceived here as an attempt to protest the country's strict regulations.
POSCO Chemical builds world's largest cathode materials factory
POSCO Chemical held a ceremony on Thursday to celebrate the construction of its cathode materials factory in Gwangyang, South Jeolla Province, which can annually produce up to 90,000 tons of the core material for electric vehicle (EV) batteries.
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