SEOUL, Aug. 31 (Korea Bizwire) — Foreign investors dumped shares of Samsung Electronics and SK hynix during their recent selling spree sparked by China’s stock rout and uncertainty over a U.S. rate hike, data showed Monday. Offshore investors unloaded 751.3 billion won (US$635.4 million) worth of Samsung Electronics shares between Aug. 5 and Friday, lowering their [...]
SEOSAN, South Korea, July 29 (Korea Bizwire) – SK Innovation Co., South Korea’s top refiner, vowed Wednesday to further bolster its electric vehicle (EV) battery business by expanding its global outreach as part of efforts to find a new income source. SK Innovation has been pushing for the EV battery business since 2008, building the [...]
SEOUL, June 3 (Korea Bizwire) — South Korea’s consumption of refined oil products rose solidly this year on low crude prices, industry data showed Wednesday, providing some relief to local refiners struggling to cope with slumping exports. Domestic consumption of refined petroleum products reached 283.7 million barrels in the January-April period, up 4.7 percent from [...]
SEOUL, March 17 (Korea Bizwire) — South Korean companies’ earnings for 2014 dropped sharply on weak domestic demand and the strong local currency, but their bottom lines were found to have actually improved when tech giant Samsung Electronics and oil refiners were excluded from calculations, data showed on Tuesday. According to the data compiled by [...]
SEOUL, Feb. 11 (Korea Bizwire) — South Korea’s top oil refiner SK Innovation Co. said Wednesday it will partner with the state-run China National Offshore Oil Corporation (CNOOC) to conduct oil and gas exploration in two blocks in the South China Sea, tapping the region for the first time. The blocks owned by China’s largest [...]
SEOUL, Jan. 21 (Korea Bizwire) – HelioVolt, a U. S. based photovoltaic panel manufacturer in which SK Innovation invested US$76 million, has started its liquidation process. According to SK Innovation on January 20, HelioVolt put its manufacturing assets up for auction on January 14. The assets for sale included manufacturing equipment for copper indium gallium selenium (CIGS) [...]