Hyundai Heavy Industries faces many obstacles to acquire state-funded Daewoo Shipbuilding & Marine Engineering as it has to win approval from around 30 nations, including its Asian rivals and European clients. When the world’s two biggest shipyards are merged, their combined market share will be 21 percent, and above all, the market share of liquefied natural gas carriers would reach 63 percent. As for LNG vessels, orders are likely to rise further from 2020 due to environmental regulations of t

　The structures of more than 90 percent of LG businesses will be transformed in environments powered by cloud computing systems by 2023, the conglomerate’s information and technology solution provider said. 　During a press conference held in Seoul on Friday, LG CNS said it will assume a “central role” in introducing cloud services across all LG business units. The company said it would provide a cloud services platform applicable to every LG unit by the first half of this year.　Stressing it was

　With South Korea and the US gearing up for the commercial rollout of their fifth-generation wireless networks next month, the countries’ smartphone manufacturers are scrambling to attract consumers by touting their functionalities. 　The starting players are Samsung Electronics, the world’s largest smartphone maker, which is betting on its advanced technologies, and Motorola, which is hoping that its high-tech functions and midrange pricing will help it leap out of its No. 8 position. 　Samsung E

South Korean cosmetic giant Amorepacific hosted its yearly marathon in Busan on Sunday, seeking to raise public awareness on breast cancer.With some 5,000 participants, the event consisted of a three-kilometer course and a 10-kilometer course, as well as breast cancer tests, clinical consulting and various giveaways.The event, titled “Pink Run,” is held every year in five major cities across the country -- Busan, Daejeon, Gwangju, Daegu, and Seoul.The revenues made from ticket sales and donation

Automobile lovers in South Korea are about to be presented a feast for the eyes with a luxury crossover SUV built with a V8 supercharged engine and diamond-quilted leather interior.Jaguar Land Rover Korea will launch the Range Rover Velar SVAutobiography Dynamic Edition at the Seoul Motor Show, set to begin Friday at Kintex. The new Range Rover Velar SVA-D has been dubbed the top Velar model produced by Land Rover’s Special Vehicle Operations team. It is an optimized version of the existing Rang

South Korea’s leading builder GS Engineering & Construction Corp. has developed South Korea’s first built-in air purifying and ventilating system, named Sys Clein, to be installed in apartments and any other spaces from the second half of this year. The system integrates existing total heat exchange systems that ventilate the air while preserving the temperature with an air purifying function. Existing systems can only perform one of these tasks, but not the other.The Sys Clein system, developed

In a crushing victory over US hedge fund, Chung cements his leadership -- but is a bigger battle ahead?

South Korea’s tax authorities have launched an industrywide tax evasion probe into local entertainment and nightclub businesses, fueled by scores of allegations surrounding K-pop star Seungri’s sex bribery scandal. The National Tax Service said Friday it had launched a crackdown on 21 nightlife businesses suspected of evading taxes. The NTS is to cooperate with prosecutors on obtaining warrants for search and confiscation, it added.  (Yonhap)Though the NTS has yet to confirm, industry watchers s

South Korea plans to turn the nation’s robotics technology into a 15 trillion-won ($13.3 billion) industry, with the aim of becoming the fourth-largest player in the world by 2023. “Traditional manufacturing sectors can be transformed into future industries by making use of robots,” said President Moon Jae-in at a briefing session on the nation’s robot development strategy at the headquarters of Hyundai Robotics in Daegu, Friday. President Moon Jae-in demonstrates a robot at the headquarters of

Amid concerns growing over slowing demand for memory chips, SK hynix CEO Lee Seok-hee said Friday he would focus on strengthening the chipmaker’s fundamental competitiveness and improving the chip yield rate to cut production costs. “After an unprecedented boom for the past two years, we are expecting to face growing uncertainties in the global economy and slowing demand for memory chips,” the CEO told reporters after an annual shareholders meeting held at its headquarter in Icheon, Gyeonggi Pro

Global online social networking service Twitter Inc. aims to make more people participate in "public conversation" in South Korea, the company's chief said Friday."We believe public conversation influences and drives society," CEO Jack Patrick Dorsey told reporters in Seoul, adding that the company is focusing on making the platform healthier. Jack Dorsey, co-founder and chief executive of Twitter, speaks during an event at a Seoul hotel on March 22, 2019, to celebrate the platform`s 13th annive

SONGDO -- Samsung Biologics President and CEO Kim Tae-han on Friday reiterated the legality of the firm’s accounting practices at an annual shareholders meeting held in Songdo, Gyeonggi Province.“We deeply regret the supervision results of the Financial Services Commission. We believe our accounting was done within all legal boundaries. We apologize for any concerns the investigations have caused our shareholders,” Kim said.“Samsung Biologics will make its best efforts to prevent this issue from

Approval seen as crushing victory for Hyundai Motor over Elliott

Hanjin KAL, the holding company of South Korea's largest flag carrier, won a court disposition to exclude proposals made by a local activist from being put to a vote at its upcoming shareholders meeting, market watchers said Thursday.The company secured the legal victory against Korea Corporate Governance Improvement and its special purpose company that had forwarded a motion to secure the right to recommend an outside director to sit on the board and select the auditor. The fund also demanded r

Posco has launched a new committee consisting of outside directors and scholars to enhance the steelmaker’s presence as a socially responsible company, the company said Thursday.The seven-member Corporate Citizenship Committee is chaired by former Sungkyunkwan University President Kim Jun-young, with professor Chang Sea-jin of the National University of Singapore and professor Kim In-hoe of Inha University’s law school serving as panelists. Kim Jun-young, chairman of Posco’s Corporate Citizenshi