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Sunday, January 21, 2018

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POSCO's Indonesian steelworks 'Krakatau POSCO' was the first case to build a steel mill in a foreign country with Korean technology.

Turning into Profit-making

16 January 2018 - 11:30am
Jung Min-hee

POSCO's Indonesian steelworks 'Krakatau POSCO' exceeded 10 million tons in cumulative sales in four years since the start of its operation. As a result of the preliminary calculation of last year's performances, the company posted about 12 million dollars in operating income and produced a surplus for the first time in its corporate history.

Krakatau POSCO announced that its sales ran to 10 million tons in total on January 15 as they steadily grew to the 2.8 million ton level since 2016 after hitting 1.7 million tons in 2014.

POSCO and Indonesian state-run steelmaker Krakatau...

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Exhibition booth of Hanwha Q CELLS.

Promoting Photovoltaic Biz in Middle East

16 January 2018 - 11:15am
Jung Min-hee

Hanwha Q CELLS takes part in the energy fair of the World Future Energy Summit (WFES), which takes place in Abu Dhabi from January 15 to 18.

Hanwha Q CELLS participated in the exhibition last year, too. This year, the company is going to double the size of its booth to 105 square meters to display a variety of photovoltaic products ranging from EPC to those for household use.

The size of the photovoltaic power generation market of the Middle East is expected to grow at least 300% between 2017 and 2020. For example, Saudi Arabia is planning to increase the ratio of renewable...

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Some civic groups are planning to consider pressing criminal charges against Apple and holding the three Korean major mobile carriers legally responsible.

Fires Spreading

16 January 2018 - 11:00am
Michael Herh

More than 380,000 Koreans have joined class action lawsuits in protest of Apple’s international drop in the iPhone’s performance. This figure crushes the number of plaintiffs while filed the first lawsuit against Apple with the Consumers United for Consumer Sovereignty last week.

On January 15, Hannuri, a Korean law firm with a class action lawsuit against Apple over iPhone performance degradation, said on January 15 that litigation participants totaled 381,001 as of 9:54 am on January 12.

Law firm Hannuri is planning to ask Apple for compensation for damages at behalf of...

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LS Group Chairman Koo Ja-yeol (right) and LS Mtron Vice Chairman Koo Ja-eun experience a smart touch air vent technology at the CES 2018 on Jan. 12

From New Prospective

16 January 2018 - 11:00am
Lee Song-hoon

LS Group management turned out in the world’s largest consumer technology show “CES 2018.”

LS Group announced on January 15 that Chairman Koo Ja-yeol visited the CES 2018 from the 11th to 12th accompanied by the groups’ 10 key executives, including LS Mtron Vice Chairman Koo Ja-eun, LS Group President Lee Hak-sung and Superior Essex (SPSX) CEO Kim Bong-soo. In particular, Vice Chairman Koo sought out a new business opportunity at the CES before re-establishing LS Mtron’s business portfolio.

Chairman Koo and other key executives visited the exhibition booth of domestic...

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Mirae Asset Global ETFs ranked 21st in the world in terms of net assets as of the end of November last year.

Leading ETF Market

16 January 2018 - 10:45am
Yoon Yung Sil

Mirae Asset Global Investments announced on January 10 that the net assets of Mirae Asset Global Exchange Traded Funds (ETFs), which entered six countries – South Korea, Canada, Australia, Hong Kong, Columbia and the U.S., exceeded US$20.02 billion (21.33 trillion won).

According to global ETF research firm ETFGI, Mirae Asset Global ETFs ranked 21st in the world in terms of net assets as of the end of November last year.

Mirae Asset Global Investments, which first pushed into the EFT market in 2006 through its TIGER ETF, decided to go global by taking over Horizon ETFs, a...

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Foreigners net purchased 6.58 trillion won (US$6.18 billion) on the KOSDAQ market, up 206.48 percent from a year ago.

Popular Market

16 January 2018 - 10:30am
Yoon Yung Sil

Foreign ownership of the total capitalization of all stocks registered on South Korea’s stock market has increased for three years in a row. In particular, the net purchases of stocks on the tech-heavy secondary KOSDAQ market by foreign investors have more than tripled compared to the previous year. More than half of them were stocks of financial sector.

According to the Korea Exchange (KRX) on January 15, offshore investors bought a net 9.71 trillion won (US$9.11 billion) worth of local stocks in 2017, accounting for 33.16 percent of the total market capitalization. The amount of...

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The number of global clinical trials in South Korea is increasing because of high quality of domestic medial institutions.

Due to High-quality Medical Services

16 January 2018 - 10:00am
Choi Mun-hee

The Korea National Enterprise for Clinical Trials (KoNECT) announced on January 15 that the U.S. had the most clinical trials in the world, taking up nearly 24.5 percent of the clinical trial protocol market share, after its analysis of the clinical trials registered with the U.S. National Institutes for Health’s website ClinicalTrials.gov last year.

After the U.S., Germany came in second place with 5.3 percent, followed by the U.K. with 5 percent, Canada with 3.9 percent and China with 3.7 percent. South Korea ranked sixth in the world with a 3.5 percent market share, moving two...

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ESS holds the key to raising the efficiency of unstable renewable energy sources as the Korean government is strongly moving forward with energy conversion policies to expand the proportion of new and renewable energy.

Blue Ocean in Energy Sector

16 January 2018 - 10:00am
Michael Herh

The ESS (Energy Storage System) business is emerging as a “blue ocean. in South Korea.” This is because as the Korean government is strongly moving forward with energy conversion policies to expand the proportion of new and renewable energy such as solar power and wind power generation, ESS holds the key to raising the efficiency of these unstable renewable energy sources.

As a result, the industrial world is intensifying competition to make ESSs a future growth engine. Companies are moving into various fields related to ESSs such as systems and lease.

The Ministry of Trade,...

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The U.S. now has to comply with the final decision of the WTO on anti-dumping duties on oil country tubular goods (OCTG) immediately or within a reasonable period of time.

Amid Trade Disputes Escalating

16 January 2018 - 9:45am
Jung Min-hee

The Ministry of Trade, Industry & Energy of Korea announced on January 15 that WTO’s final decision was made on January 12 regarding anti-dumping disputes over oil country tubular goods (OCTG) between South Korea and the United States.

In November last year, the Dispute Settlement Body (DSB) of the World Trade Organization (WTO) held a meeting and determined that anti-dumping duties the United States imposed on South Korean OCTG violated the WTO Agreement. The United States did not lodge an appeal and the determination has become the final decision.

The U.S. Department of...

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South Korean top four oil refiners are expected to post more than 8 trillion won (US$7.53 billion) in surplus last year for the first time in history.

Record-high Profits Amid Uncertain Variables

15 January 2018 - 2:30pm
Jung Min-hee

The major four South Korean oil refiners are expected to post more than 8 trillion won (US$7.53 billion) in surplus last year for the first time in history thanks to stable oil prices and a boom in non-oil refining business, including petrochemical.

According to oil refining industry sources on January 14, SK innovation Co., GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Co. are now summing up their sales performance in the fourth quarter last year and the combined operating profit of the four companies are expected to reach 2.1 trillion to 2.3 trillion won (US$1.98 billion to 2....

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