Category: Business

SK invests $250 mln in U.S. reactor startup TerraPower

SEOUL– Two affiliates of South Korean refining-to-semiconductors conglomerate SK Group said Monday they have invested US$250 million in U.S. nuclear reactor design firm TerraPower for joint business opportunities.Through the investment, SK Inc., the h…

S. Korea begins research on safety guidelines on e-scooters

SEOUL– South Korea’s traffic authority said Monday that it will launch research to map out safety instructions for personal mobility devices, like electric scooters, amid a hike in deaths of their riders in recent years.The Korea Road Traffic Authorit…

S. Korea’s 4 refiners post record H1 operating profit

SEOUL– South Korea’s four major refiners posted a record combined operating profit in the first half as high oil prices pushed up refining margins, their earnings data showed Monday.From January to June, SK Innovation Co., GS Caltex Corp., S-Oil Corp….

Hanon Systems Q2 net income down 85.4 pct. to 14.6 bln won

SEOUL– Hanon Systems on Wednesday reported its second-quarter net income of 14.6 billion won (US$11.1 million), down 85.4 percent from a year earlier.The company said in a regulatory filing that operating profit for the April-June period fell 40.2 per…

Korea Shipbuilding wins 1.96 tln-won order for 7 LNG carriers

SEOUL– Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Wednesday it has bagged a 1.96 trillion-won (US$1.5 billion) order to build seven liquefied natural gas (LNG) carriers for an Asian shipper.Hyundai Heavy Industries Co., a KSOE affil…

Shinsegae Q2 net profit up 394.1 pct. to 82.3 bln won

SEOUL– Shinsegae Inc. on Wednesday reported its second-quarter net profit of 82.3 billion won (US$62.8 million), up 394.1 percent from a year earlier.The company said in a regulatory filing that it posted 187.4 billion won in operating profit for the …

S. Korean economy faces heightened downside risks: KDI

The South Korean economy faces increased downside risks due to high inflation and worsening external economic conditions, a state-run think tank said Sunday.Asia’s fourth-largest economy is on a mild recovery track, but downside risks are expanding in …

Exports of Korean instant noodles hit fresh all-time high in H1

South Korea’s exports of instant noodles hit a fresh all-time high in the first half on the increasing popularity of Korean pop culture and a rise in demand for home-cooked food amid the pandemic, data showed Sunday.Exports of instant noodles, or “ramy…