South Korea's Daewoo Shipbuilding & Marine Engineering Co. said Monday that its net losses narrowed in the third quarter from a year earlier on the back of its strong operating profit. Net losses shrank to 29.2 billion won ($26.3 million) in the July-September period from a loss of 296.4 billion won a year earlier, the company said in an emailed statement. Operating profit came to 33.6 billion won in the period, a turnaround from an operating loss of 256.3 billion won, while sales fell 2

S-Oil said Monday it has made the Dow Jones Sustainability Indices World, the list of world’s most sustainable companies, this year. According to the South Korean refinery, it has been included in the DJSI World list for 11 consecutive years. In the Oil & Gas category, S-Oil is the first and the only refinery in the Asia-Pacific region to be included on the list for 11 years straight, the company said. Co-operated by global index providers S&P Dow Jones Indices and RobecoSAM,

LG Chem recently announced its new corporate social responsibility slogan, “Green Connector,” in response to global climate change and is focusing its efforts on four major fields: ecology, education, energy and the economy. To boost its corporate social responsibility activities for ecology, the South Korean chemical-to-battery giant joined hands with the Korean Federation for Environmental Movements last month, forming a team of 20 university students and supporting them in stu

LG Electronics said Monday it has ramped up the production of its organic light-emitting diode TVs in Mexico by more than 30 percent to respond to a surge in demand anticipated for the upcoming holidays. According to the South Korean consumer electronics giant, its OLED TV plant in Reynosa, Tamaulipas, Northeastern Mexico, has increased its production by more than 30 percent to prepare for Black Friday and Christmas season. All OLED TVs manufactured in the Reynosa plant are shipped througho

Uncle Koo Bon-joon to create his own business by taking over multiple LG affiliates

Korean corporations anticipated to enjoy tariff reductions and better rights protections

Samsung Electronics Co. on Monday launched a new monitor highlighting enhanced usability and connectivity amid the pandemic-driven stay-at-home trend.  Samsung said its Smart Monitor is a "do-it-all screen" that meets consumers' needs in remote working, learning and at-home entertainment with better mobile and PC connectivity.   The flat-screen monitor comes in two models, with the M7 supporting ultra-high definition resolution in 32-inch and the M5 featuring full HD

Samsung Electronics sold more than 1 million dishwashers globally this year, the company said Monday. The record stands in accumulated figure as of the second week of November. Samsung credited the dishwasher sales growth to an expanded line of products and technological features that helped them stand out in South Korea, North America and European markets. In Korea, the newly launched “bespoke” dishwasher line helped quadruple third quarter sales volume on-year. The bespoke washer

South Korean movie theaters and film distributors again struggled with operating losses in the third quarter due to the protracted novel coronavirus pandemic, but their deficit contracted from three months earlier, industry reports showed Monday. CJ CGV, the leading multiplex chain in South Korea, saw its third-quarter operating loss reach 96.8 billion won ($87.3 million), swinging from an operating profit of 31 billion won tallied a year earlier, according to a regulatory filing. Its sales tu

According to global aviation industry statistics released by the International Air Transport Association, Korean Air stood at No. 18 among airlines worldwide in terms of revenue-passenger kilometer, a measure of the distance traveled by all the passengers. Asiana Airlines, another flag carrier of South Korea, came in at No. 32. If Korean Air successfully acquires Asiana Airlines as planned, it would rise to 11th place. In terms of the number of international transport passengers, the acqui

The world of venture investments is largely constrained to experts like venture capitalists and entrepreneurs who are well-versed in the industry. But what if the role of finding promising startups was extended to everyday people? This is exactly what Ho Chang-seong and Moon Ji-won, the co-founders of TheVentures, a South Korea-based investor and incubator for early-stage startups, did with their Impact Collective, a community-driven accelerator program. Launched this year, Impact Collective,

NCSOFT Corp., a major South Korean online and mobile game developer, said Monday its third-quarter net income rose 34.3 percent from a year earlier thanks to the continued popularity of its major mobile games. Net income stood at 152.5 billion won ($136.7 million) in the July-September period, compared with 113.6 billion won a year earlier, according to a regulatory filing. Operating income spiked 68.9 percent on-year to 217.7 billion won, while sales rose 47.1 percent to 585.2 billion won ove

A total of 17 South Korean conglomerates, including LG Electronics, SK Holdings and CJ CheilJedang, made the list of the 2020 Dow Jones Sustainability Indices, according to consulting agency Korea Productivity Center on Sunday. The DJSI, co-operated by US-based finacial data firm S&P Dow Jones Indices and Switchland-based RobecoSAM, serves as the evaluation method for global sustainability management and the standard for investment. The indices consist of three geographical breakdowns--wo

Hyundai Mobis, South Korea’s biggest auto parts maker and a key affiliate of Hyundai Motor Group, announced Friday that Axel J. Maschka will become the new head of the company’s global sales division. Maschka is the first non-Korean executive to be hired by Hyundai Mobis in the non-R&D area. Maschka is also the highest-ranking foreign executive ever appointed in the company’s history. Hailing from Germany, Maschka has 30 years of experience in the automotive industry and

Kona N-Line has more aggressive looks, horsepower boost, sporting character