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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Business

Companies

Thu, March 23, 2023 | 10:31

OCI struggles to win support for spinoff plan

OCI struggles to win support for spinoff plan

OCI, a Korean polysilicon producer for solar power generation, is grappling with strong opposition to its plan to spin off the company into OCI Holdings, a holding firm for investments, and a new subsidiary named OCI, which will specialize in the chemicals business, according to industry officials, Friday.

Park Jae-hyuk | 2023-03-10 15:02

Burger King under fire for series of price hikes

Burger King under fire for series of price hikes

A 35-year-old office worker surnamed Jang in Seoul was surprised to find out the price of his favorite burger, the Whopper, reached nearly 7,000 won ($5.30). He said it feels like each time he visits local fast-food restaurants, he pays more than he did the previous visit. “I just read a news article that Burger King is raising their burger prices again.

Kim Jae-heun | 2023-03-10 08:29

Samsung scouts experts from TSMC, Apple, Qualcomm

Samsung scouts experts from TSMC, Apple, Qualcomm

Samsung Electronics is recruiting key workers from its rivals and top tech companies around the world, such as TSMC, Apple and Qualcomm, seeking to take the lead in the tech industry, according to the Korean electronics company and industry officials, Thursday. Samsung, which is trying to bolster its presence in the chip foundry business, recently recruited former TSMC engine...

Baek Byung-yeul | 2023-03-09 17:10

GS Retail faces police probe for selling butterbeer without butter

GS Retail faces police probe for selling butterbeer without butter

The Ministry of Food and Drug Safety (MFDS) has filed a complaint with the police against GS Retail on charges of violating the country's food labelling laws, according to the ministry Thursday. “Beurre Biere,” better known as butterbeer here, has been an instant hit at GS25 stores after its launch last September. GS25 is a convenience store brand operated by GS Retail.

Kim Jae-heun | 2023-03-09 17:04

Hyundai Motor unveils plan to develop Ulsan plant into future car hub during Yoon's visit

Hyundai Motor unveils plan to develop Ulsan plant into future car hub during Yoon's visit

President Yoon Suk Yeol visited Hyundai Motor's Ulsan plant and was briefed on the current status of the company, according to the automobile maker, Thursday.

Kim Hyun-bin | 2023-03-09 16:55

Civil servants reluctant to move to planned space agency in Sacheon

Civil servants reluctant to move to planned space agency in Sacheon

An increasing number of civil servants are expressing anxiety over their possible relocation to Sacheon, South Gyeongsang Province, where the government plans to establish a science ministry-supervised vice ministerial-level aerospace agency, separate from Korea Aerospace Research Institute (KARI).

Lee Kyung-min | 2023-03-09 16:54

Hankook Tire faces leadership vacuum after chairman's arrest

Hankook Tire faces leadership vacuum after chairman's arrest

Hankook Tire & Technology, a local tire manufacturer, is expected to see a slump in exports of its key products and delays in overseas investments after its CEO Cho Hyun-bum was arrested on charges of embezzlement and breach of trust for a combined amount of 20 billion won ($15 million), according to market watchers.

Lee Kyung-min | 2023-03-09 16:54

POSCO Holdings to undergo tax audit amid intensifying gov't pressure

POSCO Holdings to undergo tax audit amid intensifying gov't pressure

The National Tax Service (NTS) has decided to conduct a regular tax audit of POSCO Holdings later this month, causing speculation that it could prompt POSCO Group Chairman Choi Jeong-woo to step down voluntarily before he finishes his term in March next year, according to industry officials, Thursday.

Park Jae-hyuk | 2023-03-09 16:51

Groundbreaking for Shaheen project

Groundbreaking for Shaheen project

President Yoon Suk Yeol, center, shovels sand at a groundbreaking ceremony for S-Oil's 9.26 trillion won ($7 billion) “Shaheen” project at the Aramco-owned oil refiner's factory in Ulsan, Thursday. Shaheen, or falcon in Arabic, Saudi Arabia's national bird, involves the constructi...

Park Jae-hyuk | 2023-03-09 16:50

China's AliExpress to invest around $75.7 million in Korea

China's AliExpress to invest around $75.7 million in Korea

AliExpress Korea plans to invest about 100 billion won ($75.7 million) in Korea this year, the top executive said Thursday, as the online retailer backed by China's Alibaba Group is pushing to strengthen its presence in the growing cross-border shopping market.

2023-03-09 15:29

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