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Reporter : Park Jae-hyuk
Sun, November 27, 2022 | 14:38
Kakao, SK in blame game over fire at data center
SK On, the battery manufacturing subsidiary of SK Group, is facing an allegation that a spark from its battery inside SK C&C's data center building in Seongnam, Gyeonggi Province, caused the worst-ever disruptions in Kakao's digital services last weekend, according to industry officials, Thursday. Kakao CEO Hong Eun-taek said at Wednesday's press conference that a lithium-ion...
LG beefs up efforts to comply with Biden's Made in America policies
LG appears to be making group-wide efforts to keep pace with U.S. President Joe Biden's initiatives to revitalize America's manufacturing industries, which have been more intense ahead of November's midterm elections, according to industry officials, Wednesday. Earlier this week, LG Group Chairman Koo Kwang-mo reportedly visited the U.S. state of Ohio to tour the No. 1 electr...
POSCO Group chairman to lead World Steel Association
POSCO Group Chairman Choi Jeong-woo was appointed as the 44th chairman of the World Steel Association (worldsteel) during its general assembly on Tuesday (local time) in Brussels, the group said Wednesday. Choi will represent the global steel industry, along with the association's two vice chairmen, India's Jindal Steel Works Chairman Sajjan Jindal and America's Nucor CEO Leo...
LG Chem to buy AVEO for $566 million to enter US anticancer drug market
LG Chem decided to acquire a 100-percent stake in Boston-based AVEO Pharmaceuticals for $566 million to expand its commercial footprint to the U.S. and diversify its pipeline with a broad range of oncology therapies, the Korean firm said Tuesday.
Labor minister lukewarm on US firms' requests to ease industrial accident law
U.S. businesspeople in Korea received a lukewarm answer from the labor minister of the business-friendly Yoon Suk-yeol administration, in response to their requests to ease the Serious Accidents Punishment Act (SAPA), which can send a company's CEO to jail if a fatal industrial accident occurs at the company's workplace.
Ohio attracts Korean firms concerned about US IRA, CHIPS Acts
The U.S. state of Ohio has stepped up the promotion of its business-friendly environment to attract Korean manufacturers of electric vehicles (EVs), batteries and semiconductors, amid their rapid expansion in North America so as to comply with the Inflation Reduction Act (IRA) as well as the CHIPS and Science Act.
SK, Kakao, Naver heads face grilling by lawmakers over unprecedented outage
The worst-ever disruption in Kakao's services, caused by a fire last Saturday at the company's main data center in Seongnam, Gyeonggi Province, has prompted lawmakers to summon the owners of the companies involved in the incident to a National Assembly audit as witnesses. The ruling People Power Party (PPP) and the main opposition Democratic Party of Korea (DPK) agreed on Mon...
Uncertainties grow over Korea's anticipated 2nd construction boom in Middle East
Concerns have emerged once again over potential risks inherent in construction projects in the Middle East, since Saudi Arabia's Crown Prince Mohammed bin Salman is said to be skipping his visit to Korea, which was expected to take place next month. Citing diplomatic sources, a local media outlet reported Monday that the Middle Eastern country's de facto leader decided to vis...
Skepticism rises over Korea's heavy reliance on Kakao
The longest-ever malfunction of Korea's most popular mobile messenger app, KakaoTalk, and its related services prompted users to rethink their heavy reliance on the tech firm. After a fire on Saturday damaged Kakao's main data center at SK C&C's building in Seongnam, Gyeonggi Province, users began looking for alternatives to Kakao's services, as the disruption has not only in...
KOTRA slammed for insufficient preparedness for US IRA
Lawmakers of both the ruling People Power Party (PPP) and the main opposition Democratic Party of Korea (DPK) leveled criticism at the Korea Trade-Investment Promotion Agency (KOTRA) for its insufficient preparedness for the U.S. Inflation Reduction Act (IRA). The agency's local office in Washington, D.C. was also criticized for being negligent in its duty to strengthen its p...
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