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Dongwon Industries' US unit fined in tuna price-fixing case
After early tournament exit, half Korean tennis player turns eyes to busine...
Seventeen explores solitude, fear in 3rd full album
Korean-American tennis player feels on cusp of reaching next level
Seoul has world’s 6th priciest groceries
Daewoo E&C clinches LNG plant project in Nigeria
[Graphic News] S. Koreans hold W61.5tr in overseas accounts
[Herald Design Forum 2019] Herald Design Forum 2019 calls attention to ecol...
Main opposition leader has head shaved to demand justice minister's resigna...
LG Display taps LG Chem president as new chief

Today Industry

Dongwon Industries' US unit fined in tuna price-fixing case

A US federal court has ordered Dongwon Industries' US unit StarKist Co. to pay a $100 million (118 billion won) fine in a canned tuna price-fixing case, the Korean tuna company said Monday. StarKist plans to pay the fine in installments over the next five years. Of the planned payment, $50 million has already been reflected in the upcoming second-quarter earnings results, and the remainder will be factored in the bottom line later, Dongwon Industries said in a regulatory filing. The Pittsburgh,

Seoul has world’s 6th priciest groceries

Groceries are more expensive in Seoul than in New York or Tokyo, with only five Swiss cities surpassing the South Korean capital in grocery costs, data showed Monday.According to city and country database website Numbeo, Seoul’s groceries price index amounted to 105.01, placing it at No. 6 on a list of 375 major cities. The groceries price index is calculated according to the retail prices of items such as meat, vegetables and fruit, based on data contributed by users. Swiss citi

Today
Industry
Daewoo E&C clinches LNG plant project in Nigeria

South Korean builder Daewoo Engineering & Construction has clinched a liquefied natural gas plant project in Nigeria, becoming the first Korean builder to be chosen as a prime contractor in the competitive global LNG plant sector.According to Daewoo E&C, it signed a letter of intent with Nigeria LNG last week to undertake planning, equipment purchasing and construction for the Train 7 liquefaction and purification facility on Bonny Island, Nigeria. The Train 7 project is expected to

Today
Industry
Game companies prepare new mobile titles for Q4

South Korean game companies are preparing to launch potential blockbuster mobile titles in the last quarter of this year, hoping to boost their bottom line.NCSoft is staking its bet on the mobile 3D massively multiplayer game Lineage2M -- the game investors and venture capitalists as well as fans of the original Lineage game have been doggedly asking about from the beginning of this year.Advance sign-ups for Lineage2M began Sept. 5 and broke the 1 million threshold within seven hours, then escal

Today
Industry
Hyundai Heavy unit to sell assets, shares to improve financial status

Hyundai Electric & Energy Systems Co., a power equipment maker under Hyundai Heavy Industries Group, said Monday it will sell assets and shares to improve its financial status. The company said it plans to raise 150 billion won ($126 million) by selling new stocks and secure an additional 150 billion won by selling assets in an effort to enhance its financial soundness. The proceeds from its asset sales will be mainly used to pay its debts, with some of them to be invested into its res

Today
Industry
South Korea closely monitors Aramco setback

Oil refiners see no immediate supply concerns but their refining margins may be affected

Today
Industry
Airlines’ 10-year expiration of mileage under review: FTC

The nation’s antitrust watchdog has been zeroing in on whether it is legal for air carriers’ frequent flyer programs to allow mileage to expire within 10 years. According to lawmakers on Monday, Fair Trade Commission Chairperson Joh Sung-wook told lawmakers last week that the antitrust regulator is reviewing the legality of airline companies’ mileage policies revised in 2008. “In addition to conducting a review on whether the policies have been unfair, we will come up wit

Today
Industry
Hyundai Engineering wins $2.2b order in Indonesia

Hyundai Engineering Co., a major South Korean industrial plant builder, said Monday it has won a $2.17-billion deal to upgrade a refinery plant in Indonesia. Under the deal with Indonesia's state-run PT Pertamina, Hyundai Engineering will take part in Indonesia Balikpapan Refinery Development Project that aims to revamp oil processing facilities in Balikpapan, East Kalimantan, some 1,000 kilometers northeast of Jakarta.Hyundai Engineering said it will be responsible for the engineering, pr

Today
Industry
Korean drug firms eye growth in South America

Korean pharmaceutical companies are making inroads into Central and South America, betting on steady growth of markets in the region. Samsung Bioepis, Celltrion Healthcare, Boryung Pharmaceutical, CJ HealthCare and Hanmi Pharmaceutical all announced in the first half of 2019 that they would begin or expand commercialization of flagship drugs overseas.Samsung Bioepis, the novel bio drug development arm of Samsung BioLogics, said Tuesday that it has begun sales of its autoimmune disease treatment

Today
Industry
SKT-Ericsson test of standalone 5G network succeeds

SK Telecom and its Swedish partner Ericsson said Sunday they have successfully conducted a joint test of the 5G standalone network, opening the way for faster network services and better data management efficiency.Standalone (SA) is a method that is two times faster than the previous 5G non-standalone (NSA) method, which uses 5G connection side by side with the lower-grade Long Term Evolution network. SK Telecom announced it has become the first Korean telecom company to achieve pure SA 5G

Today
Industry
Korean companies expand presence on Dow Jones indices

South Korea’s leading businesses are increasing their presence on Dow Jones indices, indicating improvement in the sustainability of companies from Asia’s fourth-largest economy, according to the firms on Sunday. SK Telecom, the country’s biggest mobile carrier, said it has been included on the Dow Jones Sustainability World Index for the 12th consecutive year. The telecom giant’s record marks the longest period on the index among Korean businesses and the first among Asi

Today
Industry
South Korea set to exclude Japan from whitelist this week

South Korea is set to exclude Japan from its export control whitelist this week in response to Tokyo’s earlier decision to remove Seoul as a preferred trading partner and impose tighter controls on exports of high-tech materials that Korean tech firms need, officials said Sunday. Since the Aug. 12 announcement by Industry Minister Sung Yun-mo that Korea would drop Japan as a preferred trading partner, the ministry has completed the necessary administrative steps, such as soliciting opinion

Today
Industry
[Eye on Business] Fighting pests and social prejudices: Cesco’s pioneering history

The public image of a company is often represented by the products and services it provides -- an association process that might act to the disadvantage of a company like Cesco, which specializes in pest solutions.While maintaining steady growth, Korea’s No.1 anti-pests company once grappled with its unsophisticated corporate image and unpopularity among job seekers.But in terms of business figures, Cesco has had little to fret about, having established a unique reputation as the most trus

Today
Industry
Samsung's smartphone share in Europe surges in Q2

Samsung Electronics Co.'s smartphone shipments to Europe jumped in the second quarter from a year earlier, benefiting from Huawei's struggle with a US trade ban, a report showed Sunday. Samsung's smartphone exports to Central and Eastern Europe accounted for 40 percent of the market in the April-June period, up from 33 percent a year earlier, according to the market researcher Counterpoint Research. Its share was twice that of Huawei of China's 20 percent, it noted. The Korean tech fir

Sept 15, 2019
Industry
Seoul to drop Tokyo from whitelist this week

South Korea is moving to strip Japan from its list of trusted trading partners as early as this week, but it is still open to having last-minute negotiations with Tokyo, the trade ministry said Sunday.Seoul's trade ministry has completed nearly all procedures for the removal of Japan from its list of nations given favored export procedures for "operating an export control system that violates international norms," according to the Ministry of Trade, Industry and Energy.The move follows

Sept 15, 2019
Industry

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