SEOUL, Jan. 22 (Korea Bizwire) — More than four out of 10 South Korean conglomerates plan to cut back on their investment both at home and abroad this year amid a global economic slowdown and worsening market conditions, a survey by the state-run trade agency has showed. According to the recent survey by the Korea [...]
SEOUL, Jan. 20 (Korea Bizwire) — POSCO Holdings Inc. on Friday said its operating income nearly halved last year from a year earlier largely due to a typhoon in September and an industry downturn. Its operating income stood at 4.9 trillion won (US$3.96 billion) last year, sharply down from an operating income of 9.2 trillion [...]
SEOUL, Jan. 20 (Korea Bizwire) — The number of broiler chickens raised in South Korea fell 5.2 percent on-year in the fourth quarter from a year earlier, data showed Friday, amid concerns over the spread of avian influenza. South Korean farms raised 88.71 million broilers in the fourth quarter of 2022, down 4.89 million from [...]
SEOUL, Jan. 20 (Korea Bizwire) — The chief of energy-to-telecom conglomerate SK Group has met with the leaders of Serbia and Montenegro in Switzerland, and discussed ways to reinforce cooperation in such areas as global supply chains, South Korea’s third-largest conglomerate said Friday. During the meeting with Serbian President Aleksandar Vucic on the margins of [...]
SEOUL, Jan. 20 (Korea Bizwire) — South Korea’s top steelmaker, POSCO, has fully restored its facilities damaged by a September typhoon and its production was put back on track, the steelmaker said Friday. The superstrong Typhoon Hinnamnor pounded POSCO’s steel mill in Pohang, 372 kilometers southeast of Seoul, leading to the suspension of its major [...]
SEOUL, Jan. 19 (Korea Bizwire) — Samsung C&T Corp., the construction unit of Samsung Group, said Wednesday it had made new employee ID card cases by recycling waste helmets from its construction sites. The company said that it was the first among domestic companies to make employee ID card cases using waste generated during business [...]
SEOUL, Jan. 18 (Korea Bizwire) — Lotte Confectionery Co. said Wednesday it will invest 70 billion won (US$56.6 million) in its ice cream making affiliate in India, Havmor Ice Cream Ltd., over the next five years as the confectionery maker tries to strengthen its rapidly growing India business. Lotte Confectionery will build a new 60,000-square-meter [...]
SEOUL, Jan. 18 (Korea Bizwire) — The agriculture ministry said Tuesday it will introduce the embryos of Jersey cows to boost the production of dairy products using domestically produced milk. Jersey cows, which are nicknamed “brown milk cows,” produce small amounts of milk but with high protein and fat content, offering advantages in the production [...]
SEOUL, Jan. 18 (Korea Bizwire) — Major South Korean companies spent more than 5 trillion won (US$4.04 billion) in 2022 to help cut air pollution and promote workplace safety as part of their so-called environment, social and governance (ESG) management, a report said Wednesday. The country’s top 100 firms by sales invested 5.44 trillion won [...]
SEOUL, Jan. 17 (Korea Bizwire) — U.S. beef accounted for more than 50 percent of South Korea’s total imports of the meat in 2022, taking up the top spot for six years, industry data showed Tuesday. Asia’s fourth-largest economy imported 256,910 tons of American beef last year, or 54.1 percent of its total beef imports [...]