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Reporter : Lee Hyo-sik
Fri, September 22, 2023 | 01:16
Airlines reducing routes to China
Korean Air is joining Asiana Airlines in reducing the number of flights to China and operating smaller planes bound for the country in line with the declining number of Chinese visitors. Korea’s six low-cost carriers have also taken similar steps amid China’s escalating economic retaliation against Seoul’s deployment of a U.S. missile defense system, which has invited a strong backlash from the world’s second-largest economy. Since March when Korea decided to deploy the U.S. anti-missile Terminal High Altitude Area Defense (THAAD) battery, Chinese authorities have instructed travel agencies ...
Companies | 2017-09-19 10:28
Samsung Heavy hires Australian safety expert
Samsung Heavy Industries has recruited an occupational safety engineer from Australia to beef up its tarnished image following a series of safety-related lapses in recent months. Korea’s third-largest shipbuilder said Monday it hired Peter Hayward as an executive director in charge of overseeing the firm’s safety-related matters. The company had been looking for an engineer w...
Companies | 2017-09-18 16:05
Kumho chief hints at giving up Kumho Tire
Kumho Asiana Group will give up managerial control of its struggling tire unit if it fails to implement a self-rescue package, it said Thursday. This was the first time for the cash-strapped business group, headed by Chairman Park Sam-koo, to hint at letting go of Kumho Tire, a move seen as an attempt to pressure company lenders to accept its self-written restructuring plan. ...
Companies | 2017-09-14 19:32
KOGAS to import gas from US, Iran
Korea Gas Corp. (KOGAS) is considering importing natural gas from the United States and Iran to diversify its import sources away from the Middle East and Africa. It also plans to explore opportunities to acquire gas field stakes in the two countries. “We will actively consider bringing natural gas from the U.S. as our supply contracts with Qatar and Oman are set to expire by...
Companies | 2017-09-14 19:23
[INTERVIEW] Takeda Korea breaks conventions
Seniority-based personnel management, a rigid corporate culture and a homogenous workforce have been cited by many pundits as some of the attributes that define Japan Inc. But Takeda Pharmaceuticals, Japan’s largest drug company, refuses to be characterized as a typical corporate giant, according to the head of its Korean unit, who said it has embraced a multiracial workforce...
Companies | 2017-09-10 17:43
Kumho Tire to undergo stringent restructuring
Kumho Tire will likely undergo stringent restructuring as the head of Kumho Asiana Group vows to take all possible measures to get the struggling tire maker back on track. Kumho chief Park Sam-koo said he will mobilize all available resources to normalize its operations, in response to requests from the state-run Korea Development Bank (KDB) and other creditors to draw up a s...
Companies | 2017-09-07 16:32
KNOC CEO pressed to quit over jobs scandal
The head of the Korea National Oil Corp. (KNOC) is facing mounting pressure to resign amid a scandal over alleged recruitment irregularities. Union members at the state-run enterprise have been demanding CEO Kim Jung-rae quit for forcing subordinates to hire his acquaintances as senior managers early this year. The company has been reeling from snowballing losses following a ...
Economy | 2017-09-07 16:26
Italian chamber, Edrington promote Campari as pre-dinner cocktail
Edrington Korea and the Italian Chamber of Commerce in Korea (ICCK) have completed a campaign to promote Campari, a pre-dinner Italian cocktail, among local fine diners. In cooperation with 17 Italian restaurants in Seoul, Edrington, which imports Campari, and ICCK said Sunday that the Aperitivo Week campaign had been a success. The campaign was the first in the Reddy to Ital...
Companies | 2017-09-03 17:50
[INTERVIEW] FTC chief urges chaebol to institute 'self-reform'
Samsung, Hyundai Motor and other top family-controlled conglomerates should institute “self-reform” and create a fair, prosperous business ecosystem that also benefits subcontractors and workers who are socially vulnerable, the head of the nation’s antitrust agency said. Kim Sang-jo, since stepping up as chairman of the Fair Trade Commission (FTC) in June, has repeatedly pres...
Economy | 2017-09-01 03:00
S-Oil to double operating profit to W3 tril. by 2025
S-Oil has pledged to double its operating profit to 3 trillion won ($2.65 billion) by 2025 and help increase its market cap to 25 trillion won, becoming the most competitive and respected refiner in the Asia-Pacific region. To achieve such goals, the company will implement its five core values; excellence, passion, integrity, collaboration and sharing. It will also mobilize a...
Companies | 2017-08-31 18:33
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More than 2,800 killed by earthquake in Morocco
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