State spending on strategic industries to surge 43% next year Noh Kug-lae, president of LG Chem’s petrochemical operations (right) and Han Seung-uk, chairman of Dansuk Industrial, pose after signing a head of agreement at Dansuk Industrial headquarters in Siheung, Gyeonggi Province, Thursday. The two agreed to form a joint venture and build South Korea’s first

State spending on strategic industries to surge 43% next year SEOUL, Sept. 2 (Yonhap) -- HMM Co., South Korea's biggest container shipper, and its labor union struck a wage deal Thursday, ending their 77-day labor dispute. They agreed to a 7.9 percent pay increase and incentives of up to 650 percent of workers' monthly wages,

State spending on strategic industries to surge 43% next year SK Geo Centric CEO Na Kyung-soo explains the firm’s plans to transform into a total waste plastic recycling company. (SK Geo Centric) SK Global Chemical on Tuesday rebranded as SK Geo Centric to transform into an urban plastic recycling company with plans to invest 5

State spending on strategic industries to surge 43% next year An electric vehicle is connected to Hi-Charger, an exclusive ultrahigh speed charger developed by Hyundai Motor. (Hyundai Motor) South Korea will ramp up spending on the next-generation automobile, chip and bio-health sectors next year in an effort to nurture homegrown companies into leading players in

Hyundai Oil Bank rolls out beer inspired by premium gasoline brand Hyundai Oil Bank's collaboration beer Premium IPA (Hyundai Oil Bank)   Hyundai Oil Bank has rolled out an IPA beer in collaboration with CU, a leading convenience store franchise here, to offer an exciting experience to the MZ generation, the Korean oil company said

Exports soar 41% in first 20 days of August his file photo, taken Aug. 2, 2021, shows stacks of containers at a port in South Korea's southeastern city of Busan. (Yonhap)   South Korea's exports jumped 40.9 percent on-year in the first 20 days of August on the back of robust demand for chips, autos

Refiners make big turnaround in H1 on robust petrochem biz The industrial complex in the southern port city of Ulsan where production bases of Korea's major petrochemical companies are located (Yonhap)   Major Korean refiners posted strong earnings in the first half of the year thanks to solid petrochemical businesses, swinging from the pandemic-driven losses

HMM sees operating profit jumps tenfold during Q2 (HMM)   South Korea’s top shipping company HMM’s operating profit rose to a record high during the second quarter on the back of growing shipping costs and strong demand.   The company racked up 1.38 trillion won in operating profit, a regulatory filing released on Friday revealed,

Aekyung Group to merge three chemical units Aekyung Tower, the headquarters of Aekyung Group (Aekyung Group)   South Korean cosmetics-to-health care conglomerate Aekyung Group said Thursday it has decided to merge its three chemical businesses into one entity tentatively named Aekyung Chemical.   The merger of Aekyung Petrochemical, AK ChemTech and the current Aekyung Chemical

July exports best-ever in Korea’s history   Minister of Trade, Industry and Energy Moon Sung-wook (Yonhap)   South Korea’s exports in July surged 29.6 percent to $55.4 billion on-year, a record monthly figure since the nation began compiling the data in 1956, according to the Trade Ministry Sunday.   In the first seven months of