OECD revises up its 2021 growth outlook for S. Korean economy to 3.3 pct SEOUL, March 9 (Yonhap) -- The Organization for Economic Cooperation and Development (OECD) on Tuesday revised up its 2021 growth outlook for the South Korean economy as the country's exports remain robust amid the pandemic.   The OECD expected Asia's fourth-largest

Rising oil prices, margins raise hopes of recovery in refiners' earnings SEOUL, March 9 (Yonhap) -- A recent jump in international oil prices and recovering refining margins are raising expectations for a rebound in South Korean oil refiners' earnings down the road, industry sources said Tuesday.   Industry leader SK Innovation Co. and three other

S-Oil acquires 20% stake in hydrogen fuel cell developer S-Oil President Ryu Yul (left) and FCI CEO Lee Tae-won pose for a photo after signing an investment agreement at S-Oil headquarters in Mapo-gu, western Seoul, Friday. (S-Oil) S-Oil said Sunday it has purchased a 20 percent stake in advanced hydrogen fuel cell developer Fuel Cell

(LEAD) S. Korea, UAE to expand ties in hydrogen industry, reduce carbon footprint (ATTN: REPLACES photo) By Kang Yoon-seung   SEOUL, March 4 (Yonhap) -- South Korea said Thursday it has agreed with the United Arab Emirates (UAE) to make joint efforts to venture into sustainable resources, such as hydrogen, in line with their goal

Hyundai Heavy joins hands with Saudi Aramco in hydrogen project This photo provided by Korea Shipbuilding & Offshore Engineering Co. shows a shipyard of its shipbuilding affiliate Hyundai Heavy Industries (Yonhap) Hyundai Heavy Industries Holdings said Wednesday that it has signed a deal with Saudi Arabia's state-run oil firm Saudi Aramco to cooperate on a

Kumho Petrochemical seeks future competitiveness Kumho Petrochemical plant in Yeosu, South Jeolla Province / Courtesy of Kumho Petrochemical   Kumho Petrochemical will reorganize its business structure to secure the company's future competitiveness.The petrochemical giant said Tuesday that it plans to fully focus on seeking stable growth at a time when the global economy is undergoing

(LEAD) Major biz to invest 43 tln won in hydrogen economy by 2030 (ATTN: UPDATES with meeting between Hyundai Motor chief and SK Group counterpart in paras 8-10) By Kang Yoon-seung   SEOUL, March 2 (Yonhap) -- South Korea's five major conglomerates announced Tuesday they plan to invest 43 trillion won (US$38.2 billion) in the

South Korea’s Exports Increase 9.5% in Feb. YoY Sinseondae Port in Busan The Ministry of Trade, Industry and Energy announced on March 1 that South Korea’s exports increased 9.5 percent year on year to US$44.81 billion last month. The monthly exports increased for the fourth consecutive month. Last month, South Korea’s average daily exports increased

LG Chem makes sustainability core of biz model Researchers of LG Chem's Future Technology Research Center test a newly developed biodegradable material in this file photo. / Courtesy of LG Chem LG Chem is making adjustments across its business lines to ensure it meets sustainability goals.The company unveiled sustainability strategies last year centered on curbing

SK Innovation to liquidate 49% of SK Global Chemical for green transition SK Innovation’s petrochemical plant in Ulsan (SK Innovation) SK Innovation said Tuesday that it would sell off 49 percent of its petrochemical subsidiary, SK Global Chemical, as part of a strategy to unload carbon-intensive assets and focus its investments on green businesses. SK