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Reporter : Lee Kyung-min
Sat, June 3, 2023 | 07:47
Activist funds push KT&G to address thorny issues at shareholders' meet
A group of activist funds filed an injunction against KT&G, Friday, in a move to table a set of thorny issues that have largely been dismissed by the Korean cigarette and ginseng product manufacturer, according to market watchers.
LG Innotek seeks mutual growth with SMEs, promotes ESG goals
LG Innotek held an event promoting mutual growth with its small partner firms at LG Science Park in Magok, Seoul, Thursday, the electronic components manufacturing affiliate of LG Group said Friday. About 50 people attended the event, including CEO Jeong Cheol-dong and other management officials. They discussed ways to foster long-term business relationships to benefit both s...
LGES, Ford to build joint battery plant in Turkey
LG Energy Solution (LGES), Ford, and Koc Holding signed a non-binding memorandum of understanding (MOU) to form a new joint venture, in order to create one of Europe's largest commercial electric vehicle (EV) battery cell facilities near Ankara, Turkey, the firm said Wednesday. The new joint venture will be located in an industrial zone in Baskent, near Ankara.
Hyundai Mobis, Hyundai Steel workers demand higher bonus
Unionized workers at Hyundai Mobis, the car parts manufacturing affiliate of Hyundai Motor Group, are demanding higher bonuses, saying theirs are lower compared to their counterparts at Hyundai Motor and its sister firm Kia, according to market watchers, Wednesday. Workers at Hyundai Steel, the steel manufacturing affiliate of Hyundai Motor Group, are also demanding bonuses, ...
Businesses protest passage of 'yellow envelope' bill by Assembly committee
Business associations expressed deep concern, Tuesday, over the opposition-led passage of the so-called “yellow envelope” bill, which limits employers' claims for compensation against losses caused by labor strikes. Critics say the bill will encourage irresponsible and reckless collective actions by the country's labor unions.
Ssangyong E&C completes construction of luxury hotel in Dubai
Ssangyong E&C has completed the construction of Dubai's new high-end express hotel, Atlantis The Royal, according to the firm, Tuesday. The high-rise hotel has 795 rooms with 44 floors and luxurious facilities including 94 swimming pools. It took about eight years to build. The firm won the order in Dubai, United Arab Emirates (UAE) in December 2015.
SK biopharmaceuticals struggles to stay afloat amid plunge in profits
SK biopharmaceuticals, the drug manufacturing affiliate of SK Group, is struggling despite brisk sales of its epilepsy drug cenobamate, data showed Monday. The epilepsy drug sold under the brand names Xcopri in the U.S. and Ontozry in the European Union, is a medication used to treat the partial-onset of seizures in adults.
Korea urged to secure more nuclear waste disposal sites
Korea should promptly outline plans to build a greater number of nuclear waste disposal facilities, in an immediate measure to fortify radioactive waste management capabilities, experts said Monday.
[INTERVIEW] 'Hallyu elevates Korean dining to premium status'
Korea will be able to establish a strong presence in the global high-end dining industry, propelled by the growing international influence of noted cultural and entertainment figures, according to the country's top agriculture policymaker. In a recent interview with The Korea Times, Minister of Agriculture, Food and Rural Affairs Chung Hwang-keun said the popularity and power...
Korean Air cornered over new mileage program
Korean Air, the country’s largest carrier, is coming under increasing pressure to revise the new frequent flyer mileage program, cornered by an intensifying scrutiny of the government and the ruling party seeking to court voters frustrated by the recent spike in living costs, market watchers said Sunday.