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The Korea Herald

Industrials

March 29, 2024
Dongwon Group heir promoted to chair

Dongwon Group Vice Chairman Kim Nam-jung, second son of the group's founder and honorary chairman Kim Jae-chul, was promoted to chairman at the group's board meeting held Thursday. Kim’s promotion fills the position which had been vacant for five years since the retirement of the honorary chairma...
March 29, 2024
Taihan Cable wins $82 mln power grid deal in US

Taihan Cable & Solution, South Korea's second-biggest cable company, said Friday it has obtained a $82 million power grid replacement deal in the United States. With the latest order, Taihan Cable has already received $140 million worth of power grid contracts in the US in the first three months o...
March 29, 2024
HD Hyundai wins $463 mln warship order in Peru

South Korean shipbuilder HD Hyundai Heavy Industries said Friday it has received a $463 million order in Peru to jointly build four warships with a local shipyard by 2029. Peru's state-owned shipbuilder SIMA Peru S.A. placed the order for joint production of one 3,400-ton frigate, one 2,200-ton de...
March 28, 2024
Bang Kyung-man named as KT&G's new CEO

KT&G's Senior Executive Vice President Bang Kyung-man has cleared the final hurdle to become the company's CEO by winning shareholders approval Thursday, marking the cigarette maker's first leadership change in nine years. The decision was made at the company’s 37th annual general meeting of shar...
March 28, 2024
Posco Future M named in Fortune's top 30 Asian innovators

Korean battery material and chemical company Posco Future M has been recognized by Fortune Asia as one of the top 30 most innovative companies in Asia, set to drive future growth, the company said on Thursday. The 2024 Fortune Asia Future 30 award was presented at the Fortune Innovation Forum in H...
March 28, 2024
Hyundai Hillstate Unjeong starts sales for apartment units

Hyundai Engineering & Construction said Thursday that it has started pre-sales of the remaining properties of Hillstate the Unjeong, a mixed residential and commercial apartment complex located in Paju, Gyeonggi Province. The complex comprises a total of 13 49-story buildings, offering a total of ...
March 28, 2024
Shareholders of KT&G set to vote on CEO nominee

Shareholders of KT&G, South Korea's dominant cigarette maker, were set to vote on whether to approve the nomination of a new chief executive Thursday. Endorsing a new chief executive, which would mark KT&G's first leadership change in nine years, and an outside director are the two main agenda ite...
March 27, 2024
LG vows W100tr Korea investment

LG Group unveiled a plan Wednesday to invest 100 trillion won ($74.3 billion) in South Korea by 2028 as it seeks to secure technological competitiveness and expand new growth engines. The announcement was made during the regular shareholders meeting of its holding company LG Corp., held at the Seo...
March 27, 2024
HD Hyundai vows to enhance support for foreign workers

HD Hyundai Chair Kwon Oh-gap and top executives convened Wednesday for a luncheon with foreign national workers at an Ulsan work site, pledging enduring support for their welfare. The gathering, held at a VIP restaurant within the HD Hyundai Heavy Industries headquarters, included a total of 42 fo...
March 27, 2024
NCSoft to cooperate with Google Cloud on AI, cloud computing

NCSoft, a major South Korean online and mobile game developer, said Wednesday it has joined hands with Google Cloud in improving artificial intelligence (AI) and cloud computing capabilities. In a meeting at the Google headquarters in the United States, the two companies discussed ways to apply AI...
March 27, 2024
Kakao Mobility reappoints CEO despite accounting fraud allegations

Kakao Mobility, South Korea's top taxi-hailing service operator, said Wednesday it has reappointed its CEO for another year, despite the state financial watchdog's recommendation to replace him amid allegations of accounting fraud. In a general shareholders' meeting, Kakao Mobility voted to keep R...
March 25, 2024
New Kyobo Life CEO urges change, innovation

The new CEO of Kyobo Life Insurance, the nation's leading life insurer, has pledged to achieve "sustainable growth" that benefits all stakeholders. Upon assuming office on Monday, CEO Cho Dae-kyu cautioned about the life insurance industry's current challenges, citing "stagnant growth and declinin...
March 25, 2024
LX chief calls 2024 'turning point'

LX Holdings Chairman Koo Bon-joon said Monday he would enhance the group’s crisis response system in a bid to enhance its responsiveness to business uncertainties at home and globally. “The year 2024 will be an important inflection point as we prepare for the next three years of LX’s leap,” Ko...
March 25, 2024
Posco International CEO vows to speed up digital transformation

Lee Kye-in, formerly president of Posco International, took office as CEO of the company, having been appointed to his new position during a board meeting at the company’s headquarters in Incheon on Monday. In his inaugural speech, Lee said, "As CEO of Posco Group's second-largest company, as wel...
March 25, 2024
Hanwha Ocean wins W2.4 tln order for 8 LNG ships

Hanwha Ocean, the world's third-largest shipbuilder by order backlog, said it has received an order worth 2.4 trillion won ($1.8 billion) to build eight liquefied natural gas (LNG) ships. Hanwha Ocean will build eight LNG carriers at its shipyard on Geoje Island, 330 kilometers south of Seoul, for...

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