Yuhan-Kimberly will get a new chief executive on Friday -- Chin Jae-seung, the company’s vice president of marketing and innovation. He will replace Choe Kyoo-bok as CEO. The appointment of Chin was decided at a board meeting in December. 　 According to Yuhan-Kimberly, Chin, 56, has served in several management roles since joining the company in 1989. After years in product research and development, the executive has since 2010 led business segments including baby and child care, fe

Cash-strapped Doosan Heavy Industries & Construction Co. has improved its financial health this year by selling new shares and assets and receiving financial help from its holding company Doosan Corp. and key shareholders, a local rating appraiser said Thursday. "Doosan Heavy has been improving its financial status and reducing its debts on the back of Doosan Group's self-rescue plan," NICE Investors Service said in its report. The rating agency retained Doosan Heavy's long-term

South Korean battery maker LG Energy Solution Ltd. was the second-biggest supplier of electric vehicle (EV) batteries in the first 11 months of the year following China's CATL, a market research firm said Thursday. LG Energy Solution, which spun off from LG Chem Ltd. earlier this month, shipped 26.4 gigawatt-hour (GWh) equivalents of EV batteries in the January-November period, accounting for 22.6 percent of the global market, according to the data by SNE Research. China's CATL supplied 24.4 G

  Iraq agreed a $2.625 billion deal with South Korea's Daewoo Engineering & Construction on Wednesday to build the first phase at its planned Faw commodities port in the south of the country. Under the contract, signed in Baghdad by representatives of Iraq's transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building fiveberths to unload ships and a yard for containers. (Reuters)

New Year’s events are no exception to social distancing rules against COVID-19. People in South Korea will have to “e-connect” for the upcoming New Year’s celebrations, as the government maintains strict antivirus measures that include a ban on large gatherings. The annual bell-ringing ceremony on New Year‘s eve at the Bosingak Pavilion in Jongno in central Seoul will go virtual, as the Seoul Metropolitan Government officially canceled the in-person event for t

The country’s largest conglomerate Samsung has been left unsure of what its future holds as its de facto chief faces possible jail time for corruption. Whether or not Lee Jae-yong will be put behind bars again in the finale of a three-year court saga, leaving a void at the top of the world’s No. 1 chipmaker, will be decided by a Seoul court in January. Samsung Electronics on Wednesday appeared calm, at least on the surface, after local prosecutors demanded nine years in prison fo

South Korea’s COVID-19 vaccine plans are slowly taking shape. Once shrouded in secrecy, the government is no longer holding back in sharing the outcomes of negotiations with individual vaccine firms in securing the doses necessary for the country. As of Wednesday, Korea has signed deals with AstraZeneca, Janssen and Pfizer-BioNTech, and is in close talks with Moderna, on top of the vaccines it is to receive through the global nonprofit COVAX facility. According to what is known through

Duty-free shop / Lotte Duty Free

Educational robot / GeniRobot

Public enterprise / Korea Agro-Fisheries & Food Trade Corp

Bio technology / Lemonex

South Korea‘s 5G quality and coverage have slightly improved in the second half of the year, said the Ministry of Science and ICT on Wednesday. The overall quality of Long-Term Evolution networks here, however, have degraded, it said in a report. SK Telecom’s 5G network showed the fastest average download speed at 795.57 megabits per second. KT followed at 667.48 Mbps, with LG U+ at 608.49 Mbps. SKT is the country‘s largest mobile carrier in terms of subscribers, followed by

Automotive Parts / Hyundai Mobis

Coupang will reorganize its top leadership so that it has two representative directors instead of the current four, the e-commerce platform said Wednesday. Two incumbent directors, Kang Han-seung and Park Dae-jun, will retain their posts, while the others will no longer hold the title. 　 Kim Bom-seok, the company’s chief executive and one of its outgoing directors, will serve as the chair of its board and will focus on establishing its strategic direction, Coupang said. The other outgo

IT, bio, online shopping take a leap forward amid market reshaping