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Companies

Tue, October 4, 2022 | 03:26

Former LG Electronics vice president to lead LocknLock

Global food container maker LocknLock has nominated former LG Electronics Vice President Lee Jae-ho as its new CEO, the company said last week. Lee will be officially appointed during the company's extraordinary meeting of shareholders on Oct. 17 along with his appointment as an executive director on the same day.

Kim Jae-heun | 2022-10-03 16:43

Samsung SDI to achieve carbon neutrality by 2050

Samsung SDI has declared the implementation of eco-friendly management as part of its efforts to tackle climate change and achieve sustainable growth, the Samsung Group battery affiliate said Monday. In order to reach net-zero carbon emissions by 2050, the company announced a set of environmental management strategies including eight specific goals under the theme of “respons...

Baek Byung-yeul | 2022-10-03 16:21

Foreign firms not subject to punishment even if abusing subcontractors: lawmaker

Nike and other foreign companies are easily able to evade the application of the fair trade law here even if they exploit their dominant position over domestic subcontractors by abusing them, which needs to be resolved, according to a lawmaker, Monday. Rep. Park Sung-joon of the Democratic Party of Korea (DPK) said the Fair Trade Commission (FTC) ended its review early this y...

Baek Byung-yeul | 2022-10-03 15:04

GS25 opens 100th convenience store outlet in Mongolia

GS Group's convenience store chain GS25 said Monday it has opened its 100th outlet in Mongolia since its entry into the East Asian country 16 months ago.

2022-10-03 11:29

Electricity rate hike to put weight on businesses

Local manufacturers are highly likely to experience worse business conditions in the months to come, strained by the government's plan to increase electricity rates for industrial use, compounded further by inflation, the sharp depreciation of the Korean currency against the dollar as well as rapid increases in both borrowing costs and key raw material prices, according to ma...

Lee Kyung-min | 2022-10-03 08:28

US, UK expected to approve Korean Air's acquisition of Asiana Airlines

The U.S. and the U.K. are expected to approve the proposed operations under the Korean Air-Asiana Airlines acquisition deal as early as November, according to industry officials, Sunday. Korean Air expects that if approved by the U.S. and the U.K., it will have a positive effect on the European Union (EU), Japan and China competition authorities to follow suit.

Kim Hyun-bin | 2022-10-02 15:39

KDB criticizes DSME union for defending incumbent management

Korea Development Bank (KDB) expressed concerns over Daewoo Shipbuilding & Marine Engineering's (DSME) unionized workers, who reportedly decided to ask Hanwha Group to allow the shipbuilder's incumbent management to stay in office, even after the conglomerate becomes its largest shareholder.

Park Jae-hyuk | 2022-10-02 15:34

Nat'l Assembly audits begin Tuesday

The parliamentary audit of 783 government organizations will begin, Tuesday, the first National Assembly scrutiny of the Yoon Suk-yeol administration five months into being in office. The audits by 14 standing committees will continue through Oct. 24.

Lee Kyung-min | 2022-10-02 15:25

US, Britain may announce review outcome of Korean Air-Asiana deal in Nov.

Antitrust regulators in the United States and Britain may decide next month whether to approve a deal by Korea's largest carrier Korean Air Lines to buy its smaller rival Asiana Airlines, industry sources said Sunday.

2022-10-02 15:18

Conglomerates enter emergency management, reduce investments

Major companies are taking a conservative approach as the economy is taking a rapid downturn, by shrinking investments and production to cope with the surging inflation, high exchange rates and interest rates, according to company officials, Sunday. Major domestic companies have entered emergency management amid the worsening economic situation. On Sept. 29, LG held an offlin...

Kim Hyun-bin | 2022-10-02 14:53

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