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The Korea Herald > Business

STX Shipbuilding put on path to court-led restructuring

Financially shaky STX Offshore & Shipbuilding Co. will be put under a court-led restructuring scheme this month, its creditors said Wednesday, ending their yearslong financial aid amid ongoing efforts...

Updated : 2016.05.25 16:08

[Newsmaker] Samsung to fight back against Huawei’s patent suit

Samsung Electronics on Wednesday hinted that it might file a counter-suit against Huawei, which has sued the Korean company in the U.S. and China for infringing its technology patents. “We will take ...

Updated : 2016.05.25 15:59

Banks set to suffer from exposure to troubled shipbuilders

As the specter of bankruptcy rises for Korea’s shipbuilders, concern is growing over local banks’ exposure to the ailing sector. According to industry sources Wednesday, local banks’ exposure to th...

Updated : 2016.05.25 15:56

Korea’s 30 largest conglomerates slash 500 executives

South Korea’s 30 largest business groups are down around 500 executives in the last year amid the nation’s prolonged economic slowdown, according to industry data Wednesday. Corporate researcher CEO...

Updated : 2016.05.25 15:55

STX Shipbuilding likely to face court receivership

Creditor banks said they have begun discussing whether to put Korea’s midsized shipbuilder STX Offshore & Shipbuilding under court receivership, as their years of financial aid have failed to improve...

Updated : 2016.05.25 15:54

Korea releases 1st roadmap to build facility for spent nuclear fuel

Korea will select a site for an underground storage facility to permanently dispose spent nuclear fuel, or high-level radioactive waste, by 2028 and complete the construction of the facility by 2053, ...

Updated : 2016.05.25 15:53

[Photo News] Foreign tobacco for military

A solider takes a cigarette pack at a PX store within an army unit in Seoul that started selling foreign tobacco brands for the first time on Wednesday. The foreign brands chosen by the government to ...

Updated : 2016.05.25 15:49

BOK chief says credibility of GDP figures falling

South Korea's central bank will develop a supplementary economic indicator to offset the limitations of gross domestic product figures, its chief said Wednesday, attributing their falling credibility ...

Updated : 2016.05.25 15:42

Steel industry speeds up restructuring

South Korea’s steel industry is speeding up restructuring amid growing concerns over chronic oversupply in the sector, according to local news reports Wednesday. The reports said the Korea Iron & Ste...

Updated : 2016.05.25 15:25

LG Chem named top eco-friendly energy company

LG Chem, the chemicals and battery unit of LG Group, said Wednesday that it has been named a top environment-friendly energy company by a consultative body of energy ministers from 23 countries. The C...

Updated : 2016.05.25 15:12

IMF team to visit Seoul for annual meeting

A team of officials from the International Monetary Fund will visit South Korea this week to assess its economic conditions and exchange opinions on economic, financial and fiscal policies, the financ...

Updated : 2016.05.25 14:45

Rights watchdog to recommend government tighten corporate ethics

The state human rights watchdog on Wednesday said it will recommend the government require state-funded corporations to consider a human rights factor in their operations, a move to shore up corporate...

Updated : 2016.05.25 14:43

LG’s water purifier sales surge 50% in India

LG Electronics said Wednesday its water purifier sales in India soared 50 percent in the first quarter compared to a year ago, but did not reveal specific sales figures. LG entered India’s water puri...

Updated : 2016.05.25 14:25

Samsung hints at counter-suit against Huawei over patent

South Korean top tech giant Samsung Electronics Co. hinted Wednesday that it may take a counteraction against Huawei Technologies Co. after the Chinese company launched lawsuits claiming Samsung's inf...

Updated : 2016.05.25 14:22

Huawei files lawsuits accusing Samsung of violating patents

Chinese tech giant Huawei said Wednesday it has filed patent infringement lawsuits against South Korean mobile phone rival Samsung in the United States and China, in a case that highlights the rise of...

Updated : 2016.05.25 14:08