The Korea Gas Corporation said Thursday that the company conducted safety inspections at its two local liquefied natural gas facilities from July 11-12. The safety checks were conducted as a part of the government’s summer electricity supply plan, it added.  A Kogas gas supply facility in Busan (Kogas)With Kogas Senior Executive Vice President Kim Young-do in charge, the nation’s largest gas buyer checked the storage and supply equipment at its facilities.“With thorough safety inspections, Kogas

LG Display Co. said Thursday it will suspend making investments in liquid-crystal display panels for TVs, and instead focus its efforts on developing the next-generation organic light-emitting diode panels."There will be no additional investment on LCD TVs," said Han Sang-beom, the head of LG Display. "There still will be investment for LCD products in the IT sector as there is demand for high-end monitors and laptops," Han said. LG Display said Tuesday it will invest 7.8 trillion won ($6.9 bill

SK Innovation Co., South Korea's top oil refiner, said Wednesday that it has decided to pay out its first-ever interim dividends worth 149 billion won ($133 million) to boost shareholder value.In a regulatory filing, SK Innovation said it will pay out 1,600 won per one common and preferred share each.Last year, the refiner paid out 6,400 won per share following 4,800 won per stock each in 2015. (Yonhap)"After reviewing a variety of options for shareholder-friendly management, we decided to pay o

LG Display Co. said Wednesday it is considering various options, including loans, to fund its major investment plan announced earlier this week aimed at beefing up its competitiveness in the organic light-emitting diode panels."While funds for investment, in principle, should be raised from businesses, they should also come in a timely manner," the company said during a conference call with investors.The remark came after LG Display said it will invest 7.8 trillion won ($6.9 billion) to build fa

CJ Cheiljedang Corp., South Korea's leading processed foods maker, said Tuesday it will spend 70 billion won ($63 million) on building a new production complex in Vietnam to expand its presence in the Southeast Asian market.The Korean firm said it held a groundbreaking ceremony Monday for the 66,000 square meter base in Ho Chi Minh City.When the construction is complete by July next year, the new base is expected to produce up to 60,000 tons of foodstuffs, including both refrigerated and frozen

The CEO of the local dessert cafe franchise MangoSix has been found dead in his house in southern Seoul, police said Tuesday. (Yonhap)   The body of Kang Hoon, known for his sprawling coffee franchise business, was discovered by his subordinate in a bathroom in his house in Seocho-dong at 5:46 p.m. on Monday, investigators said. No suicide note was found.   His death came after he recently filed for corporate rehabilitation. (Yonhap)

Jin Air Co., the budget carrier unit of Korean Air Lines Co., said on Monday it added a B737-800 jet to its growing fleet to meet demand during the summer peak season. With the addition of the B737-800, Jin Air's fleet is now composed of 20 B737-800s and four long-range B777-200ERs, all leased from US aircraft manufacturer Boeing, the company said in a statement. The latest 189-seat plane was deployed on the Gimpo-Jeju Island route starting Saturday. It is also scheduled to serve on routes to Ba

Korea’s leading discount retailer Homeplus on Thursday signed an agreement with the Korea Employment Agency for the Disabled to promote and expand the employment of people with disabilities.Homeplus CEO Kim Sang-hyun and KEAD President Park Seung-Kyu met Wednesday at Homeplus headquarters in Seoul, where they agreed to work together to create more quality jobs for people with disabilities and offer them job arrangement services.  Homeplus CEO Kim Sang-hyun (left) and KEAD President Park Seung-Ky

ACN, a US-based network marketing company, has marked fast growth, providing telecommunications, energy, security, payment and lifestyle services through networks of individual business owners. ACN has been introduced to 25 countries worldwide and has a total asset value of 29 trillion won ($23.1 billion). The company now aims to expand its market footing in Asia after its success in European markets, according to the firm. Members of ACN Korea (ACN Korea)In September 2010, ACN first landed in A

SK Group will take steps to boost domestic consumption, including encouraging its employees to take long vacations and facilitate growth of subcontractors, corporate sources said Thursday.CEOs of the group's key subsidiaries met in Seoul on Tuesday where they discussed enhancing work effectiveness and contributing to spurring local demand, according to insiders. Specifics included seeking shared growth with all tiers of the group's suppliers and "big break" vacations for employees, they said. (Y

Asiana Airlines Inc., South Korea's No. 2 full-service passenger carrier by sales, said Thursday it will deploy its second A350 jet on long-haul routes from next week.The second of four A350 jets scheduled to be delivered this year arrived at the Incheon International Airport later in the day after a day-long flight from Airbus, a Toulouse-based civil aircraft manufacturer, the company said in a statement.  (Yonhap)The second A350 will carry passengers on routes to Shanghai and Singapore from Tu

The head of retail giant Lotte Group said Tuesday the conglomerate needs to expand investment targeting its lucrative businesses to further expand presence in the market, as it is suffering from a series of troubles at home and abroad. During a meeting with the group's senior executives, Lotte Group Chairman Shin Dong-bin also stressed that his group needs to quickly adapt to the fast-changing market environment under the fourth industrial revolution. Lotte Group Chairman Shin Dong-bin arrives a

The elder brother of the chief of retail giant Lotte Group said Tuesday he has raised an objection to the conglomerate's governance shakeup plan, demanding that a key unit be taken off the list of split-ups.In April, the board of directors of the group's four key affiliates passed a plan to split each of them into investment and business entities. Under the plan, which will be put up for approval at their respective shareholders meetings next month, the investment entities split from the four un

Samsung Heavy Industries Co. is seeking to cut its workforce and have employees return part of their salaries in order to cut costs, industry sources said Tuesday.Last year, the major South Korean shipyard unveiled a self-restructuring program that centers on cutting the workforce and having executives return part of their salaries, in order to tide over a protracted slump in the shipbuilding sector.Samsung Heavy was forced to reduce its workforce by 1,500 in 2016 through an early retirement sch

Jeju Air Co., South Korea's leading budget carrier, said Monday it has obtained approval from the Chinese authorities to fly two chartered flights to the neighboring country next week. "Jeju Air is the first Korean passenger carrier, which has received such an approval since January when China stopped allowing Korean chartered planes to fly between the two countries," a company spokeswoman said.Two chartered flights are scheduled to deliver a combined 360 passengers to the famous tourism site of