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

S. Korea, ASEAN to upgrade their FTA (Yonhap)   South Korea's trade ministry said Tuesday it has launched talks with ASEAN to update their free trade agreement (FTA) and further lower trade barriers, as the country seeks to diversify its trade portfolio and expand its presence in Southeast Asia.   Officials from the two held

(2nd LD) S-Oil shifts to black in Q2 on higher petrochem product prices (ATTN: ADDS closing share price at bottom) BY Kim Eun-jung   SEOUL, July 27 (Yonhap) -- S-Oil Corp., South Korea's No. 3 refiner, said Tuesday it turned to the black in the second quarter from a year earlier led by higher sales

SME exports hit record high in H1 despite pandemic SEOUL, July 21 (Yonhap) -- Exports by South Korean small and medium-sized enterprises (SMEs) jumped nearly 22 percent to a new high in the first half of the year despite the coronavirus pandemic, government data showed Wednesday.   Local SMEs' overseas shipments came to US$56.5 billion