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Reporter : Lee Hyo-sik
Mon, December 11, 2023 | 01:15
Companies remain reluctant to support PyeongChang Olympics
Samsung, Hyundai Motor and other large business groups remain reluctant to support the PyeongChang Olympics, as the Choi Soon-sil scandal still makes them uneasy about buying game tickets or donating merchandise. In particular, Samsung Group and Lotte Group have been distancing themselves from the major global sporting event, as their chiefs are on trial for giving money to Choi. She is a friend of disgraced former President Park Geun-hye, and is alleged to have used the PyeongChang Olympics to extract money from companies. In the past, businesses actively purchased tickets in large numbers ...
Economy | 2017-11-23 19:40
SK expands, Hyundai Oilbank shrinks
SK Innovation, Korea's largest refiner, has expanded its market share here over the past year as it signed a series of gasoline and diesel supply contracts with Korea Expressway Corp. But Hyundai Oilbank continues to lose market shares to its rivals in line with its struggling parent company, Hyundai Heavy Industries (HHI), which has been coping with prolonged shipbuilding industry slump. According to refiners Wednesday, SK's market share rose to 34.08 percent in September from 31.59 percent three months earlier as it began supplying gasoline and diesel in the third quarter to Korea Expressw...
Companies | 2017-11-22 16:56
KDB in dilemma over Daewoo E&C sale
Korea Development Bank (KDB) is facing a dilemma over its attempt to sell a controlling stake in Daewoo Engineering & Construction (E&C) as potential bidders are unwilling to pay what the bank wants for the sale. The state-run real estate developer LH's decision to ban Daewoo from bidding for public construction projects has further dampened investor sentiment, according to industry analysts. They say the state-run bank has to accept what the highest bidder offers if it wants to dispose of its 50.75 percent stake in the builder. Or it could nullify the sale process if it cannot get the bidde...
Companies | 2017-11-22 16:48
CU opens first overseas store in Iran
BGF Retail, which runs the country's largest convenience store chain CU, has opened its first overseas store in Iran, embarking on its global expansion campaign. CU became Korea's first convenience store franchise to set up an outlet abroad. In August, its rival GS25 said it would open a store in Vietnam, but has not yet done so. BGF Retail plans to open more shops in the Mid...
Companies | 2017-11-21 16:10
Gov't to penalize farms for bird flu outbreak
Gov't to penalize farms for bird flu outbreak. The government plans to penalize chicken and other poultry farms infected with avian influenza if they are found to be negligent of preventing the outbreak of the highly infectious virus, the top agriculture policymaker said Monday.
Economy | 2017-11-20 16:50
KAL-Delta joint venture alerts Asiana
The growing trans-Pacific partnership between Korean Air and Delta Air Lines is expected to deal a blow to Asiana Airlines as the two Sky Team members jointly offer more convenient flight schedules and cheaper tickets, industry analysts said Monday. In June, Korean Air and Delta signed an agreement to set up a “joint venture” to manage their flights between Asia and North Ame...
Companies | 2017-11-20 16:43
Field narrowing for Daewoo E&C bidders
The field has narrowed to a handful of players seeking to acquire a controlling stake in Daewoo Engineering & Construction (E&C) from the state-run Korea Development Bank (KDB), financial industry sources familiar with the issue said Friday.They are Hoban Construction, a mid-tier builder based in the southwestern part of the country, U.S. investment company TRAC and two other...
Companies | 2017-11-17 14:36
S-Oil's sustainability
S-Oil CEO Othman Al Ghamdi, right, poses with Korea Exchange (KRX) CEO Jung Ji-won after receiving a grand prize during the 2017 ESG Award ceremony at the KRX on Yeouido, Thursday. ESG stands for environment, social responsibility and governance. The ESG award is given to companies that build an exemplary corporate governance structure, conduct sustainable business practices ...
Companies | 2017-11-16 21:39
Viewing commercials leads to donations
SK Innovation has launched a new public relations campaign by linking the number of views of its commercials to the size of its donations. The company said Thursday it will decide how much money it will donate in accordance with how many clicks its commercials garner on YouTube, Facebook and other social media platforms. The country's largest refiner plans to offer donations ...
Companies | 2017-11-16 21:37
New KITA chief vows to support small exporters
The new head of the Korea International Trade Association (KITA) has pledged to mobilize all resources to help small exporters bolster their overseas shipments, as demand grows for made-in-Korea products across the globe. KITA Chairman Kim Young-joo also told reporters Thursday the export promotion body will bridge the government and the private sector, adding it will proacti...
Economy | 2017-11-16 19:15
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