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Reporter : Park Jae-hyuk
Sat, December 3, 2022 | 02:31
HHI Group to present 'ocean transformation' plans at CES 2023
Hyundai Heavy Industries (HHI) Group plans to showcase its “ocean transformation” strategies aimed for fundamental changes to the use of the ocean during its second participation in the Consumer Electronics Show (CES) in Las Vegas, the company said Friday.
Is Korea overreacting to Tesla CEO's lip service?
Competition is heating up among municipalities to attract a Tesla Gigafactory to their regions, after the U.S. carmaker's CEO, Elon Musk, responded positively last month to President Yoon Suk-yeol's request to build an electric vehicle (EV) manufacturing plant in Korea. Automobile industry experts, however, have remained skeptical about the feasibility of constructing the fac...
New CEOs to lead SK Group's ICT units
SK Group carried out an annual reshuffle of CEOs at its affiliates, Thursday, indicating its intention to focus more on stable operations next year amid growing uncertainties in the global business environment. Most of the group's vice chairman-level executives - SK Inc. CEO Jang Dong-hyun, SK Innovation CEO Kim Jun and SK hynix CEO Park Jung-ho - maintained their positions.
Coupang to stop selling CJ products amid deepening price dispute
Coupang is in conflict with CJ CheilJedang over the sales of the food firm's flagship Hetbahn instant rice, Bibigo dumplings and kimchi on the e-commerce firm's platform, according to industry officials, Thursday. Last month, Coupang stopped ordering products from CJ CheilJedang.
Saudi minister visits Naver headquarters
A Saudi Arabian delegation led by Minister of Municipality, Rural Affairs and Housing Majed Al-Hogail paid a visit on Tuesday to Naver's headquarters building in Seongnam, Gyeonggi Province, which is named “1784” and designed to be friendly to robots, according to the Korean tech firm, Wednesday. The Saudi government delegation had 23 officials, including the minister and Dep...
POSCO workers to leave militant umbrella union
One of two unions at steelmaker POSCO agreed to withdraw from the Korean Metal Workers' Union (KMWU) under the Korean Confederation of Trade Unions (KCTU) in a vote held from Monday to Wednesday. After ballot counting started at 5 p.m., Wednesday, the union announced its withdrawal plan won the support of 69.9 percent of its members with a voter turnout of 58 percent. If the ...
Lotte Group's credit rating hit by cash-strapped construction unit
A persistent liquidity crunch at Lotte Group's construction unit prompted Korea's fifth-largest conglomerate to pour over 1 trillion won ($750 million) into Lotte E&C over the past month, despite a worsening credit outlook for other affiliates. In addition to fundraising from the group's affiliates and loans from banks, Lotte Group Chairman Shin Dong-bin's personal assets wer...
Hyundai Motorsport customer becomes double WTCR title winner
A customer of Hyundai Motorsport garnered both the driver and team champion titles at the 2022 World Touring Car Cup (WTCR), according to Hyundai Motor, Sunday. At the final round held last weekend at Jeddah Corniche Circuit in Saudi Arabia, Hyundai Motor's circuit racing car, the Elantra N TCR, also known as the Avante N TCR in Korea, enabled its driver and his teammates to ...
Shipbuilders vie to dominate autonomous navigation market
Competition is heating up among Korea's three largest shipbuilders to dominate the rapidly growing market for autonomous ships, according to industry officials, Sunday. Daewoo Shipbuilding & Marine Engineering (DSME) said last Tuesday that it succeeded in testing a DSME Autonomous Navigation-Vessel (DAN-V) near Jebu Island in Hwaseong, Gyeonggi Province, between Nov. 16 and 1...
Korean firms urged to invest in Canada to comply with US IRA
The implementation of the U.S. Inflation Reduction Act (IRA) could be a significant opportunity to enhance business partnerships between Korea and Canada, lawyers from both countries said at a forum co-hosted by the Korea Trade-Investment Promotion Agency (KOTRA) and the Canadian Chamber of Commerce in Korea (CanCham Korea), Thursday. The legal experts especially advised carm...
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