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The Korea Herald

Industrials

June 19, 2024
Posco chief reaffirms commitment to EV transition

Posco Group Chairman Chang In-hwa stressed that the group will continue to focus on investing in its secondary battery materials business and expand the application of eco-friendly steel-making methods at a forum organized by World Steel Dynamics in New York, US, Posco Holdings said Wednesday. “T...
June 19, 2024
Error in ruling could transform SK chief's divorce case: sources

Views are mixed among legal experts. “It is quite rare that the court makes such a mistake and corrects the error,” said Lee Hyung-gon, a judge-turned-lawyer. However, Lee remained cautious about whether the correction would affect the ruling. “It remains to be seen whether the Supreme Court f...
June 19, 2024
Energy storage tech of LG, Samsung shines at Interbattery Europe

Samsung SDI’s highlight at the Interbattery Europe 2024 is its upgraded Samsung Battery Box 1.5. This state-of-the-art ESS product uses high-nickel, nickel-cobalt-aluminum battery cells whose high energy density makes them ideal for large-scale energy storage. The upgraded SBB 1.5 model features ...
June 18, 2024
HD Hyundai launches first of two corvettes for Philippine Navy

HD Hyundai Heavy Industries has launched the Miguel Malvar, the first of two corvettes ordered by the Philippine Navy in 2021. A corvette is the smallest type of warship used for coastal patrols, surveillance and escort duties. The Miguel Malvar is scheduled for delivery to the Philippine Navy by ...
June 18, 2024
Air Incheon ascends to No. 2 air cargo carrier with Asiana deal

Korea's sole all-cargo airline Air Incheon has been named the preferred bidder for Asiana Airlines' cargo freighter division, paving the way for it to expand its business routes to the Americas and Europe. The purchase price is estimated to range between 450 billion won and 500 billion won ($325-mi...
June 18, 2024
Hyundai Motor CEO named co-chair of Hydrogen Council

Chang Jae-hoon, president and CEO of Hyundai Motor Group, has been named as co-chairman of the Hydrogen Council, a global coalition of CEOs committed to speeding up hydrogen-based energy transition. The Hydrogen Council announced Tuesday Chang's appointment to replace Yoshinori Kanehana, chairman ...
June 18, 2024
Lufthansa CEO upbeat about Korea's market potential

Lufthansa Group CEO Carsten Spohr visited Seoul earlier this month to renew his commitment to the Korean market, where demand for premium airline services continues to grow. "We see tremendous potential in the Korean market and will strive to offer a premium experience to Korean customers with our...
June 17, 2024
SK chief claims 'flagrant error' in divorce settlement ruling

SK Group Chairman Chey Tae-won on Monday issued an apology for raising public concerns with his high-profile divorce settlement, but made it clear that he will appeal to the Supreme Court because a “flagrant error” was found in the court ruling that now threatens his grip on the telecom-to-chips ...
June 17, 2024
Hyundai Rotem wins bullet-train export deal from Uzbekistan

For the first time, a Korean high-speed rail vehicle will be deployed internationally, with Uzbekistan as the destination. Hyundai Rotem announced Friday that it has secured a 270 billion won ($194 million) contract to supply and maintain power-distributed high-speed trains for Uzbek Railways in c...
June 17, 2024
HD Hyundai marks Veterans Month with gravesite cleanups

HD Hyundai organized gravesite cleanup services at Seoul National Cemetery and Yeongcheon National Cemetery in North Gyeongsang Province to honor the Korean Patriots and Veterans Month of June. A total of 140 employees participated in these volunteer services on June 14 and May 24. They began by p...
June 16, 2024
Top 4 conglomerates convene strategy meetings to navigate uncertainties

Top conglomerates in Korea are set to hold their strategic meetings this month to navigate the ongoing economic slowdown and geopolitical uncertainties according to industry sources on Sunday. Samsung Electronics, the country's No. 1 conglomerate in terms of assets, will kick off its series of str...
June 14, 2024
NPS opposes appointment of Lim Jong-yoon as inside director of Hanmi Pharmaceutical

The National Pension Service has decided to oppose the appointment of Lim Jong-yoon as an inside director of Hanmi Pharmaceutical at the upcoming extraordinary shareholders' meeting of the drug company on Tuesday next week. Lim, however, is expected to take the position as he and his aides hold a c...
June 14, 2024
Nongshim to build W229b logistics center on robust overseas sales

Nongshim, the top ramyeon manufacturer in South Korea, said Friday it plans to invest 229 billion won ($166 million) to build a new logistics center in Ulsan, South Gyeongsang Province, largely driven by increasing overseas sales in recent years. The new Ulsan logistics facility will enhance the c...
June 14, 2024
Doosan Bobcat breaks ground on new plant in Mexico

Doosan Bobcat, a South Korean industrial machinery builder under Doosan Group, has broken ground on a new manufacturing plant in Monterrey, Mexico, to handle increasing demand for loaders in the North American market, the company said Friday. Officials from Doosan Bobcat and the Mexican local gove...
June 14, 2024
Science Ministry to cancel license of Stage X as new mobile carrier

South Korea's Science Ministry said Friday that it will revoke the license of new mobile carrier Stage X for failing to meet legal requirements to run the business, including paid-in capital of 205 billion won ($149 million) that was due last month. The Ministry of Science and ICT will carry out a...

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