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Q1 Earnings Outlook Cut for Most Listed Firms on Virus

Q1 Earnings Outlook Cut for Most Listed Firms on Virus

SEOUL, March 26 (Korea Bizwire) — South Korean brokerage houses have trimmed their first-quarter earnings outlook for more than 80 percent of major listed firms on the coronavirus outbreak, a market tracker said Thursday. According to FnGuide, operating income forecasts for the January-March period have been downgraded for 84.4 percent of the 65 listed companies [...]

LG Chem Buys Turkish Plant in Poland for EV Output Expansion

LG Chem Buys Turkish Plant in Poland for EV Output Expansion

SEOUL, March 3 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemicals company, said Tuesday it has acquired a Turkish television assembly factory in Poland for US$31.4 million to expand its plant for electric vehicle (EV) batteries. LG Chem signed the deal with Turkish electronics and appliance maker Vestel last month, a company official [...]

DuPont to Invest US$28 mln in S. Korea to Build Material Production Line

DuPont to Invest US$28 mln in S. Korea to Build Material Production Line

SEOUL, Jan. 9 (Korea Bizwire) — U.S.-based chemical firm Dupont on Thursday announced its plan to invest US$28 million in South Korea to build a production line for photoresist, which can potentially help Asia’s No. 4 economy reduce its dependence of the key industrial material on Japan amid their trade spat. Under the project, Rohm [...]

Huawei Eyes More Product Purchases, Investment in S. Korea amid U.S. Sanctions

Huawei Eyes More Product Purchases, Investment in S. Korea amid U.S. Sanctions

SEOUL, Dec. 20 (Korea Bizwire) — Chinese telecommunications behemoth Huawei Technologies Co. on Friday vowed to beef up its business in South Korea by increasing the purchase of parts for its network equipment and smartphones amid continued U.S. sanctions. Karl Song Kai, head of Huawei’s global media and communications, said Huawei also plans to increase [...]