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Wed, November 30, 2022 | 09:34
FTC to take stern measures against Kakao, Hankook Tire
Kakao Corp. and Hankook Tire are in the crosshairs of Fair Trade Commission (FTC) Chairman Han Ki-jeong, who pledged Monday to implement strict measures against the scandal-ridden IT and tire manufacturing giants. Han's drive seeks to rein in the growing online platform monopoly of Kakao and the corrupt corporate practices of Hankook in granting cost advantages to its affilia...
Samsung SDI, Sungkyunkwan University to nurture 100 battery experts by 2032
Samsung SDI, the battery manufacturing affiliate of Samsung Group, and Sungkyunkwan University will establish joint courses whereby 100 young promising undergrads will be educated and trained to develop their interests and careers in the secondary battery industry over the next decade, the firm said Sunday. The program is the latest in a series of future growth strategies out...
President naming campaign aides to head public energy firms stirs controversy
Criticism has intensified over President Yoon Suk-yeol's appointments of a slew of unqualified political figures as the heads of state-run energy firms, as a reward for campaigning for him in the last presidential election, according to market watchers, Sunday. Choi Yeon-hye, a former lawmaker of the conservative Liberty Korea Party, a predecessor of the ruling People Power P...
Korea partners with Saudi Arabia for growth
Korea is fortifying cooperation with Saudi Arabia, a prospective partner in the expansion of Korea's key industries including construction, shipbuilding and marine engineering, according to the trade and land ministries, Thursday. The areas of joint cooperation will include digital and smart infrastructure building, intellectual property rights, culture, hydrogen energy, smar...
Government to inspect 35 risk-prone mines
A total of 35 risk-prone mines will undergo strenuous on-site inspections before the year's end, as part of efforts to prevent cave-ins, the industry ministry said Wednesday. The 35 among 325 mines nationwide are where deaths and serious injuries of workers have been reported within the last three years.
POSCO International, NongHyup Feed team up for stable animal feed supply
POSCO International, a trading affiliate of steel giant POSCO, is strengthening its cooperation with NongHyup Feed, an animal feed manufacturing affiliate of the National Agricultural Cooperative Federation, for a stable supply of key input produce materials, according to the two firms, Wednesday.
KEPCO to borrow from banks to stabilize bond market
Commercial lenders will grant up to 10 trillion won ($7.2 billion) in loans to Korea Electric Power Corp. (KEPCO) before the year's end, to limit further financial market dislocation sustained by top-rated, government-guaranteed bonds issued by the state-run energy firm, according to market participants, Wednesday. The government-recommended measure is intended to help KEPCO ...
K-Chips Act in limbo due to DPK's 'anti-biz' politicking
The competitive edge of the local chip industry will fall behind its global peers, as stunted by the blind push of the Democratic Party of Korea (DPK) against a bill introduced to foster the growth driver industry, according to market watchers, Tuesday. The main opposition party claims the bill is designed only to “cut taxes for the rich.” Further fueling concerns is Korea's ...
Korea braces for winter energy crisis
Korea is expected to grapple with soaring energy prices this winter, as evidenced by about a 40 percent spike in heating costs this year, brought on by elevated global key commodity prices in the wake of Russia's invasion of Ukraine, according to market watchers, Monday. Further advancing the grim outlook is the rapid weakening of the Korean currency against the U.S. dollar, ...
KORAIL hit for worker's death, derailment
Land Minister Won Hee-ryong called for a fundamental and complete overhaul of Korea Railroad Corp. (KORAIL), the state-run rail operator, Monday, after a train had derailed late Sunday. The accident that caused injuries to at least 34 passengers came less than a day after a maintenance worker died while working, Nov. 5.
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