Doosan Heavy Industries & Construction Co. has won a large-scale thermal power plant construction project in Indonesia.The company announced on March 20 that it has signed a deal with Indonesia’s PT Indo Raya Tenaga (IRT) to build Jawa 9 and 10 power stations. It formed a consortium with Indonesia’s

SK Innovation announced on March 20 that it held a groundbreaking ceremony for an electric vehicle (EV) battery plant at Commerce, Jackson County, Georgia in the United States on March 19 (local time).The plant represents SK Innovation’s first direct investment in the United States and is expected t

The U.S. Department of Commerce recently decided to apply an anti-dumping duty rate of percent to plated steel sheets Hyundai Steel exports to the United States.Back in May 2016, the department imposed an anti-dumping duty of 47.8 percent on Hyundai Steel, 8.75 percent on Dongkuk Steel, and 28.28 pe

Sungjee Construction Co. announced on March 15 that it has signed a memorandum of understanding (MOU) with Indonesian state-owned port company PT. Pelabuhan Indonesia 1 (Persero) for joint development of Tanjung Sauh Container Port.The project calls for building a container port on Batam Island in t

The labor union of Renault Samsung Motors will go on strike only at some selected work sites in order to put pressure on the management.The company’s labor union and management have failed to narrow differences since the breakdown of intensive negotiations held early March. Experts say that no deal

Lee Won-hee, president of Hyundai Motor, has recently expressed his aspiration to elevate the automaker to third place in the global electric vehicle (EV) market.Lee said at an "Investor Day" event held at the end of February that Hyundai Motor would ramp up its electric car models to 44 by 2025, in

Hyundai Motor and Kia Motors will invest US$300 million (338.4 billion won) in Ola Cabs, the largest car hailing company in India, the two companies announced on March 19.Hyundai Motor and Kia Motors have inked an agreement on investment and strategic business cooperation with Ola Cabs. Under the ag

Global rating agency Standard & Poor's (S&P) has warned that the credit ratings of South Korean companies can be downgraded this year.S&P released a report on South Korean companies on March 19. “The credit ratings of South Korean companies seem to have entered a cycle of gradual decline from th

SK Innovation Co. has raised its stake in Beijing BESK Technology Co. (BESK), an electric vehicle (EV) battery producer jointly established with China’s state-run Beijing Electronic and Beijing Automotive Industry Holdings, from 40 percent to 49 percent.The company set up the joint venture company i

Hyundai Motor Co. is developing an electrification platform which turn commercial vehicles, including large trucks, into environmentally friendly cars. This is part of its preemptive response strategy to brace for a higher demand of green commercial vehicles worldwide. The electrification platform i

Korean employers are protesting against the Economic, Social and Labor Council for social dialogues, saying that the council is discussing the ratification of the ILO Basic Agreement in favor of the labor.The Korea Employers Federation (KEF) became furious as members of the Labor-Management Relation

SK Group is making an investment in a U.S. electric vehicle (EV) battery developer to secure a competitive edge in technology. As the group announced to invest more than 2 trillion won (US$1.76 billion) in EV battery business alone over the last six months, it is said to be accelerating its move to

South Korean e-commerce company Coupang announced on March 15 that it has appointed Jay Jorgensen, a former vice president at Walmart, as its new chief compliance officer (CCO) and general counsel.Jorgensen is an expert in ethical management, compliance and risk management with diverse working exper

Mercedes-Benz Korea has become the last importer of foreign cars in Korea to join the Takata airbag recall movement. The company has decided to carry out the first recall for Takata airbags, yet market experts point out that it is still slow to respond as it is recalling only 742 out of the 18,274 c

Hanwha Q Cells has filed a patent infringement lawsuit against a Chinese company in Australia in addition to the United States and Germany. The company is determined to keep its technological superiority over Chinese companies that have been dominating the market based on price competitiveness.Hanwh

Kumho Tire’s labor union has urged Doublestar, the largest shareholder of the Korean tire company, to normalize the company's plant in China."At the Future Committee, the company’s management and labor will discuss the normalization of Kumho Tire's plant in China," the labor union said on Ma

Amway, which celebrates its 60th anniversary this year, will take a bigger step forward for the next 60 years by reinforcing communications. Amway Korea, which will mark its 30th anniversary in 2021, plans to focus on upgraded incentive programs for Amway Business Owner (ABO) business partners and p

The downsizing of Chinese plants by Hyundai Motor Co. and Kia Motors Corp. has a ripple effect on Hyundai Mobis Co.Hyundai Mobis is said to be closing down its Module Plant 1 in Beijing at the time when Hyundai Motor shuts down its Beijing Plant 1, according to automaker and component industry sourc

SK E&C has won a railway construction project in the United Arab Emerates (UAE), following a project to build the world's largest underground crude oil stockpile base in the Middle East country.SK E&C announced on March 13 that it concluded a construction contract for the Ghweifat-Ruwais section

Samsung Electronics posted 74 trillion won (US$65.7 billion) in sales in Vietnam in 2018, accounting for 28 percent of the Southeast Asian country's gross domestic product (GDP). The sales figure in Vietnam amounted to 30 percent of the Korean tech giant's total sales in 2018. Analysts say t