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S. Korean Steel Makers to Enjoy Potential Benefits from N. Korea: Analysts

S. Korean Steel Makers to Enjoy Potential Benefits from N. Korea: Analysts

SEOUL, Jun. 3 (Korea Bizwire) — South Korean steel makers could see benefits from North Korea’s possible economic opening following the planned summit between U.S. President Donald Trump and North Korean leader Kim Jong-un, analysts here said Sunday. Trump said after a meeting with Kim’s top envoy at the White House that he will meet [...]

S. Korea’s Shipbuilding Industry Shows Signs of Recovery: Regulator

S. Korea’s Shipbuilding Industry Shows Signs of Recovery: Regulator

SEOUL, May 15 (Korea Bizwire) — South Korea’s shipbuilding industry is showing signs of recovery after years of struggling with the global downturn, a senior financial regulator said Tuesday. Yoo Kwang-yeol, first senior deputy governor of the Financial Supervisory Service (FSS), urged shipbuilders to turn to high-end vessels, such as very large crude carriers, for [...]

Firms Making Inquiries About Opening Operations at Now-shuttered Kaesong Complex

Firms Making Inquiries About Opening Operations at Now-shuttered Kaesong Complex

SEOUL, May 13 (Korea Bizwire) — A number of firms are making inquiries about the now-shuttered joint industrial complex in North Korea’s border city of Kaesong, industry sources said Sunday, as the two Koreas move to implement a set of agreements signed during their leaders’ historic summit last month. According to the insiders from a [...]

Hyundai Steel Q1 Net Profit Falls 48.2% Due to Base Effect

Hyundai Steel Q1 Net Profit Falls 48.2% Due to Base Effect

SEOUL, April 27 (Korea Bizwire) – Hyundai Steel Co., South Korea’s second-biggest steelmaker by sales, said Friday that its first-quarter net profit plunged 48.2 percent from a year earlier due to a base effect. Net profit for the three months ending March 31 came to 177 billion won (US$164.7 million), compared with a net profit of 341.8 billion won a year earlier, the company said in a statement. The company said [...]

Doosan Heavy Q1 Net Profit Down 38% on Foreign Exchange Loss

Doosan Heavy Q1 Net Profit Down 38% on Foreign Exchange Loss

SEOUL, April 26 (Korea Bizwire) – Doosan Heavy Industries Co., South Korea’s top power equipment maker, said Thursday its first-quarter profit fell 38 percent from a year earlier largely due to foreign exchange loss. Net profit reached 23.1 billion won (US$21.4 million) on a consolidated basis in the January-March period, compared with 37.4 billion won a year earlier, the company said in a regulatory filing. The company said foreign exchange loss and discontinued operation [...]