South Korea’s leading construction company GS Engineering & Construction is ramping up efforts to enhance financial stability and spur growth in key growth drivers. Currently, GS E&C is exploring various strategic options, including stake sales in its subsidiaries such as GS Inima Environment and GS Elevator, as part of efforts to secure cash for growth. GS Inima Environment, a global water treatment and purification company based in Spain, is a notable asset within GS E&C�

Industry Sept. 4, 2024

Incheon International Airport Corporation said Wednesday it has signed a mutual partnership with Trip.com Group, a global one-stop travel service provider, to lure more Chinese travelers to Korea. The signing event was attended by Lee Hag-jae, president and CEO of Incheon International Airport, and Edison Chen, vice president of global destination marketing and public relations at Trip.com Group, at the Inspire Entertainment Resort in Incheon on Tuesday. Under the agreement, the two companies

Industry Sept. 4, 2024

Daewoo Engineering & Construction said Tuesday it has signed a strategic partnership with China State Construction Engineering Corporation, the world’s largest construction company by revenue, to team up on international projects. The signing event was held Monday at the CSCEC’s headquarters in Beijing, where Daewoo E&C Chairman Jung Won-ju and CSCEC International Operations Chairman Gao Bo were present. Founded in 1957, CSCEC has held the top position in US weekly ENR's

Industry Sept. 3, 2024

Energy and environmental solutions provider SK Ecoplant announced Monday that it has officially incorporated energy supplier SK Materials Airplus as its subsidiary. During a special shareholders' meeting held at its headquarters in central Seoul, SK Ecoplant approved a comprehensive stock exchange agenda for SK Materials Airplus, which involves issuing new shares in exchange for the entire stake in SK Materials Airplus currently held by SK. SK Materials Airplus' long-term business mo

Industry Sept. 2, 2024

Incheon International Airport Corporation held a commemorative event Friday to mark the commencement of commercial operations of sustainable aviation fuel at its second passenger terminal. The event, attended by government officials, aviation industry leaders and representatives from oil refineries, was led by the Trade Ministry and Transport Ministry. Lee Hag-jae (right), president and CEO of Incheon International Airport Corp., emphasized the company's commitment to demonstrating "ec

Industry Aug. 30, 2024

South Korea's top soju maker HiteJinro is intensifying its efforts to penetrate the European market, where soju is rapidly gaining popularity and increasingly integrated into local cultural activities. The company announced on Friday that it served as an official sponsor for this year's All Points East, a prominent music festival in the UK held at London's Victoria Park, from Aug. 16 to 25. First held in 2018, APE features world-class musicians and attracts over 200,000 attendees

Industry Aug. 30, 2024

To boost the global competitiveness of Korea's small business owners, the Small Enterprise & Market Service, the Korea Commission for Corporate Partnership and Hanjin Logistics held a launch ceremony on Thursday for Dook'n Dook'n, an offline store in Hanoi, Vietnam, showcasing Hallyu products. The event was attended by Oh Young-joo (center left), minister of SMEs and startups, SEMAS Chairman Park Sung-hyo (center right), Emily Cho (third from right), president of Hanjin Logist

Industry Aug. 30, 2024

Posco International, the trading arm of Posco Group, announced Thursday that it received its first credit rating from global credit rating agencies Standard & Poor's and Moody's on Tuesday. Posco International was assigned a rating of BBB+ by S&P and Baa2 by Moody's, with both agencies providing a stable outlook for the company's credit rating. An S&P rating of BBB- or higher is generally considered investment grade. Posco International's BBB+ rating is on pa

Industry Aug. 29, 2024

A growing number of foreign travelers are visiting Korea amid the global popularity of K-culture. But many more Korean nationals are traveling abroad, leading the nation’s travel deficit to a six-year record in the first six months of this year. According to a recent joint report by the Bank of Korea and the Korea Tourism Organization, the country recorded a travel deficit of $6.48 billion in the first half. The figure represents the largest deficit since the $8.74 billion recorded in 20

Industry Aug. 27, 2024

SK Group Chairman Chey Tae-won stressed the importance of adapting business strategies to the evolving AI ecosystem at the closing session of Icheon Forum 2024, SK Group's annual strategy meeting of top executives, which ended Wednesday. "Artificial intelligence presents us with numerous opportunities," Chey said. "Leveraging this trend effectively and embracing change swiftly will be crucial for thriving in the AI ecosystem." The chairman emphasized that while adapting

Industry Aug. 22, 2024

CJ CheilJedang is boosting its presence in Oceania with its Bibigo K-food product line, recording a 51 percent on-year increase in its food product sales in the region during the second quarter this year. The company announced Wednesday the fresh launch of Bibigo mandu to New World and Pak'nSave, two major supermarket chains in New Zealand. The new offerings include "Bibigo Homestyle Mandu Pork Dumpling" and "Bibigo Pork & Kimchi Flavoured Dumplings," both of which

Industry Aug. 21, 2024

South Korea's top two airlines, Korean Air and Asiana Airlines, are recently ramping up efforts to encourage their passengers to use up their mileage in an apparent move to ease financial burdens ahead of their planned merger later this year. Korean Air recently announced a strategic partnership with GS Retail, a local retailer operating GS25 convenience stores, to allow customers to use their Korean Air points at GS25 outlets. Asiana Airlines also plans to launch an online shopping site ex

Industry Aug. 20, 2024

진행자: 김혜연, Kevin Lee Selzer [Eye Interview] Actor-novelist Cha In-pyo reflects on trials of bringing his debut novel to global spotlight 기사 요약: 배우 차인표가 "미래 세대"를 위하여 썼다는 일제강점기 민족의 아픔 그려낸 소설, 옥스포드대 필독서로 지정되다 [1] Set in the peaks of Baekdusan in 1931, Cha In-pyo’s 2009 debut novel "Once We Look at the Same Star" captures the budding friendship of a young tiger hunter, Yong, and Suni, the village chief’s granddaughter, until their tranquil life is soon shattered by hi

Podcast Aug. 19, 2024

Celltrion Group on Friday ditched its planned merger of the two units Celltrion and Celltrion Pharm after months of fierce resistance from shareholders. The two companies announced that they would focus on their core operations and work on creating synergy within their respective firms. The decision comes after a series of evaluations conducted by a special review committee set up by their boards of directors, external studies by accounting firms and shareholder surveys. "We established the

Industry Aug. 16, 2024

진행자: 김혜연, Kevin Lee Selzer South Korea's Paris Olympics triumph: 13 golds secure historic success Weapon sports dominate as S. Korea achieves best summer Olympics performance in 12 years 기사 요약: 2024 파리올림픽에서 13개 금메달 획득해 '베이징·런던 올림픽 타이' 역사 쓴 선수단 [1] South Korea's Olympic team, comprising 144 athletes across 21 events, achieved at least 13 gold medals at the 2024 Paris Olympics, placing seventh overall, with athletes in shooting, fencing and archery playing pivotal roles

Podcast Aug. 15, 2024