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Sun, December 4, 2022 | 17:30
Samsung, SK, Hyundai increase organizations to respond to global uncertainties
Major conglomerates such as Samsung, SK and Hyundai Motors are actively establishing or expanding related organizations to respond to global uncertainties. The moves are intended to enable the conglomerates to respond better to the global market during an economic downturn, as it has a growing ripple effect on individual companies, according to industry officials, Friday. "As...
SK chief highlights flexibility and diversity in solving global problems
SK Group Chairman Chey Tae-won emphasized that in order for humanity to design a better future, it is necessary to break away from stereotypes and find solutions with flexibility and diversity. According to SK Group Friday, Chairman Chey attended the Tokyo Forum 2022, co-hosted by the Chey Institute for Advanced Studies and the University of Tokyo, Thursday, and gave an openi...
POSCO Int'l introduces blockchain-based electronic bills of lading
POSCO International is leading the digitalization of international trade by introducing electronic bills of lading (e-B/L). The company announced that the first trade transaction using an electronic bill of lading was completed on Nov. 27. POSCO International exported auto parts to the U.S. through the issuance of an electronic bill of lading on Nov. 3, and on Nov. 27, the U....
POSCO chief, Australia PM discuss $40 billion in eco-friendly projects
POSCO Group will invest a total of $40 billion with local partners in Australia by 2040, the company announced, Thursday. The investment comes as Chairman Choi Jeong-woo met with Australian Prime Minister Anthony Albanese at the Houses of Parliament in Canberra, the capital of Australia, “We see Australia as the most important country for investment to secure hydrogen, which ...
Korea's exports to fall in 2023 due to global downturn
Korea's trade environment will worsen next year compared to this year due to the uncertainties surrounding the global economy, Korea International Trade Association (KITA) Chairman Koo Ja-yeol said during a press conference commemorating the 59th Trade Day held at the Trade Tower in Seoul, Wednesday.
KEF chief asks Japanese envoy to support Busan's 2030 Expo bid
Sohn Kyung-sik, chairman of the Korea Enterprises Federation (KEF), requested the Japanese government's support for the southern port city of Busan to host the 2030 World Expo in Busan, during a meeting with Japanese Ambassador to Korea Koichi Aiboshi at the Westin Chosun Hotel in Seoul, Wednesday. "Competition to secure advanced technology and reorganize the semiconductor su...
KITA, biz associations call on truckers to end strike
Korea International Trade Association (KITA) and other business associations ― including cement, petroleum, oil, automobiles and steel ― urged the Cargo Truckers Solidarity Union, under the wing of the labor umbrella, Korean Confederation of Trade Unions (KCTU), to stop its current strike, during an emergency press conference, Wednesday. "The regularization of the safe freigh...
Korean Air introduces A321neo equipped with Prestige class
Korean Air has introduced its first Airbus A321neo, equipped with fully lie-flat seats in business class, making it the first Korean airline to offer this feature on a short-haul aircraft, according to the company, Wednesday. The airline's first A320 family aircraft is a single-aisle narrow-body with a total of 182 seats, and will mostly operate on short-haul routes, includin...
Hyundai seeks to establish US battery plants with SK On, LGES
Hyundai Motor is actively considering establishing a joint manufacturing plant in the U.S. with key battery makers, such as SK On and LG Energy Solutions (LGES), to better cope with the implementation of the Inflation Reduction Act (IRA), according to industry officials, Tuesday. Hyundai Motor Group and SK On signed a memorandum of understanding (MOU), Tuesday, to expand into...
UK antitrust agency expected to approve Korean Air-Asiana deal
The U.K antitrust authority is expected to accept Korean Air's proposed corrections concerning the acquisition of its domestic rival Asiana Airlines, moving the high-profile takeover one step closer to reality, according to industry officials Tuesday. The U.K. Competition and Markets Authority (CMA) said Monday (local time) that it is considering the undertakings regarding co...
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