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The Korea Herald

Industrials

April 08, 2024
HD Korea Shipbuilding opens decarbonization R&D center

Korean shipyard conglomerate HD Korea Shipbuilding & Offshore Engineering said Sunday it has launched a new research and development facility dedicated to comprehensive testing of decarbonizing maritime technologies. The Marine Innovative Decarbonization R&D facility, located at the HD Hyundai Hea...
April 05, 2024
Samsung's insurance arm ends bancassurance sales over low profitability

Samsung Fire & Marine Insurance, the nation's leading non-life insurer, has ceased selling insurance products through bank channels, commonly known as "bancassurance." As of January, Samsung Fire & Marine Insurance has halted all new sales through banks, following a consistent decline in sales thr...
April 05, 2024
Hanwha Aerospace conducts spinoff to focus on defense industry

Hanwha Aerospace, the defense arm of South Korea’s seventh-largest conglomerate Hanwha Group, said Friday it will segregate its non-military businesses into a newly established corporation, aiming to focus on its defense business operations. According to Hanwha Aerospace’s announcement Friday, H...
April 05, 2024
LG Electronics reports 11% decline in Q1 operating profit on rising costs

LG Electronics said Friday its operating profit for the first quarter of this year fell more than 10 percent from a year earlier due to rising costs and intensifying competition. Its first-quarter operating profit came to 1.33 trillion won ($984.9 million), down 11 percent from 1.5 trillion won a ...
April 05, 2024
Hanwha Aerospace to focus on defense business after spinoff

Hanwha Aerospace, a South Korean defense company, said Friday it will focus on the defense and aviation business after spinning off two affiliates by September. Hanwha Aerospace will spin off its two wholly owned units -- artificial intelligence solutions firm Hanwha Vision and semiconductors equi...
April 05, 2024
Samsung Electronics expects tenfold jump in Q1 profit as chip demand rebounds

South Korean tech giant Samsung Electronics said Friday its operating profit for the first quarter is estimated to have shot up more than tenfold on rebounding demand for memory chips, beating market expectations. The world's biggest maker of memory chips expected a first-quarter operating profit ...
April 04, 2024
LG Energy Solution breaks ground on $5.5b Arizona battery complex

By Moon Joon-hyun ( mjh@heraldcorp.com ) The Korea Herald
April 04, 2024
S-Oil earns certifications for SAF production

S-Oil announced Thursday that it has become the first refinery in South Korea to achieve three International Sustainability & Carbon Certification (ISCC) certificates: ISCC CORSIA, ISCC EU, and ISCC PLUS. This certification, also known as the Carbon Offsetting and Reduction Scheme for Internationa...
April 04, 2024
LGES begins construction of battery plant in Arizona

LG Energy Solution (LGES), South Korea's leading battery maker, said Thursday it has begun the construction of its $5.5 billion battery plant in Arizona, with an aim to start operations in 2026. LGES plans to produce 46-Series cylindrical batteries for electric vehicles (EVs) and lithium iron phos...
April 03, 2024
Hyosung TNC pledges W1tr to build new Vietnam plant

Hyosung TNC, the fiber production unit of South Korean industrial giant Hyosung Group, said Wednesday it will invest 1 trillion won ($740 million) in Vietnam to establish a new spandex material plant. Hyosung TNC secured approval for the investment from the Vietnamese government during a city deve...
April 03, 2024
Samsung, GS win record gas plant deals in Saudi Arabia

South Korean builders Samsung E&A and GS Engineering & Construction have secured a contract worth a combined total of $7.2 billion for the construction of a substantial gas plant in Saudi Arabia, the two companies announced Wednesday. The landmark deal represents the largest plant construction agr...
April 03, 2024
HD Hyundai Marine Solution ready for record IPO

HD Hyundai Marine Solution, an industry leader in ship life cycle maintenance formerly known as Hyundai Global Service, has set forth a revenue-doubling strategy within a five-year horizon, as it gears up for what is expected to be Korea's largest initial public offering in the first half of 2024. ...
April 03, 2024
Hyundai Mobis' media platform gets digital face-lift

By Park Se-ra ( serap1005@heraldcorp.com ) The Korea Herald
April 03, 2024
S. Korean firms win $7.2b gas plant deal in Saudi Arabia

Samsung E&A and GS Engineering & Construction (GS E&C) have won a combined $7.2 billion deal to expand a gas plant in Saudi Arabia, the biggest order for South Korean companies in the Middle Eastern country, the presidential office said Wednesday. The Fadhili Gas Increment Program is a project run...
April 02, 2024
Hanwha reaffirms will to pursue Austal takeover

South Korean Conglomerate Hanwha Group on Tuesday reaffirmed its willingness to continue pushing for a takeover of Australian shipbuilder Austal despite the latter’s earlier announcement to reject the former’s offer due to low chances of obtaining regulatory approvals. According to media reports...

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EDITOR'S PICKS

Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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