SEOUL, May 16 (Korea Bizwire) – The chief executive officers (CEOs) of HD Hyundai and Hanwha Ocean Co., South Korea’s major shipbuilders, met with U.S. Trade Representative (USTR) Jamieson Greer to explore cooperation in the shipbuilding sector, the companies said Friday. HD Hyundai CEO Chung Ki-sun and Hanwha Ocean CEO Kim Hee-cheul had separate meetings [...]
SEOUL, May 16 (Korea Bizwire) — Shares of Samyang Foods Inc., known for its globally popular Buldak spicy “ramyeon,” jumped nearly 20 percent after the company reported strong first-quarter earnings. On Friday, Samyang Foods jumped 19.07 percent to 1.18 million won (US$846), far outperforming the broader Korea Composite Stock Price Index (KOSPI), which ended up [...]
SEOUL, May 14 (Korea Bizwire) — Samsung Electronics has made its biggest acquisition in nearly a decade, purchasing Germany-based FläktGroup for €1.5 billion (approximately 2.38 trillion won or $1.68 billion) in a move to aggressively expand into the fast-growing global heating, ventilation, and air-conditioning (HVAC) market. The deal, announced Tuesday, positions Samsung to capitalize on soaring demand [...]
SEOUL, May 14 (Korea Bizwire) — LG Electronics is strengthening its global brand identity through a series of community and environmental initiatives under its signature slogan, “Life’s Good,” aiming to amplify its social impact and promote sustainable values. According to the company on Wednesday, LG’s U.S. division recently installed more than 150 hand-built birdhouses in both [...]
SEOUL, May 13 (Korea Bizwire) — Kia Corp. said Tuesday it has unveiled the PV5 wheelchair-accessible vehicle (WAV) at the Future of the Car Summit in London, highlighting the company’s efforts to promote inclusive mobility. Showcased at the automotive industry event hosted by the Financial Times, the PV5 WAV is designed to enhance freedom of [...]
SEOUL, May 12 (Korea Bizwire) — Renowned South Korean conductor Chung Myung-whun was appointed Monday as the new music director of Italy’s Teatro alla Scala, news reports said. Chung, 72, is the first Asian to assume the role at the famed opera house, based in Milan, the Associated Press reported. Chung will succeed Riccardo Chailly [...]
SEOUL, May 12 (Korea Bizwire) — Pulmuone Co., a South Korean food company, unveiled a new management vision Monday aimed at transforming itself into a global sustainable food manufacturer. Pulmuone Chief Executive Officer (CEO) Lee Woo-bong announced the initiative during a ceremony marking the company’s 41st anniversary at its headquarters in Seoul, focusing on the [...]
SEOUL, May 9 (Korea Bizwire) — Korean Air Lines Co., South Korea’s leading air carrier, said Friday it will acquire a 10 percent stake in WestJet, Canada’s second-largest airline, in a bid to strengthen its presence in the North American market. The South Korean airline’s board approved the US$220 million deal earlier in the day, [...]
SEOUL, May 8 (Korea Bizwire) — Netmarble Corp., a South Korean game developer, said Thursday it swung to a net profit in the first quarter on the successful launch of its new title, RF Online Next, and steady sales of its webtoon-based game Solo Leveling: ARISE. Netmarble’s net profit for the January-March period totaled 80.2 [...]
SEOUL, May 8 (Korea Bizwire) — South Korean media giant JoongAng Group and retail conglomerate Lotte Group signed an agreement Thursday to merge their respective affiliates that operate Megabox and Lotte Cinema — the country’s third- and second-largest movie theater chains. JoongAng Group announced that it signed a memorandum of understanding (MOU) with Lotte Group [...]