During the “Steel Day” event which was held in the POSCO Center in Daechi-dong on June 9, SeAH Special Steel CEO Yoo Eul-Bong said, “The stock market and the industry excessively worry about Hyundai Steel entering the special steel business. The market share of SeAH Special Steel remains unchanged.”

Hyundai Heavy Industries (HHI) has decided to secure liquidity. During the board meeting on June 10, the company decided to issue a total of US$220 million (244.2 billion won) of exchangeable bonds (EB) into 23.42 million shares of Hyundai Merchant Marine.The bonds mature in five years and have no i

As the second generation model of the SM3, which was released by Renault Samsung in 2009, sees a continuous increase in exports, it is having a positive effect on the better performance of the company.According to Renault Samsung on June 10, its exports in May climbed up 101.1 percent to 12,332 unit

The Samsung Group has entered a smart car business, which is cited as a promising future growth market, preparing to compete with global companies like Apple and Google.According to Forbes and IT news site TechCrunch on June 8, the Samsung Group decided to invest US$6.5 million in connected car star

Samsung SDI announced on June 9 that it will showcase their latest energy storage system (ESS) products at the Intersolar 2015, the largest solar and ESS exhibition in the world, being held in Munich, Germany, from June 10 to 12.In the event, the company will unveil its new 8.0kWh All-in-One product

The American hedge fund Elliott Management filed a court injunction to stop the merger between Samsung C&T and Cheil Industries Co. Some say that the company is trying to maufacture conflict over the leadership in Samsung Group rather than just go after short-term profit-making.According to Samsung

Kumho Petrochemical is pushing into the wind power market. The company announced on June 8 that it established a strategic partnership with domestic wind power company Unison at its headquarters in Seoul to co-develop wind power generation business. An official from Kumho Petrochemical said, “With t

Hanwha’s solar energy subsidiary Hanwha Q Cells is working with American electric vehicle manufacturer Tesla to target Europe’s solar market.Hanwha Q Cells announced on June 8 that it will participate in the solar photovoltaic exposition Intersolar being held in Munich, Germany, for three days from

Korea’s automobile exports declined for five months in a row due mainly to the weak yen and recession in emerging economies. Besides, Korean automakers’ domestic sales remained in the doldrums last month to signal a bumpy road ahead of them.The Ministry of Trade, Industry & Energy announced on June

The Incheon International Airport Corporation (CEO Park Wan-su) announced that Italy’s national airline Alitalia has started its service from Incheon to Rome on June 5.Alitalia started its service to Korea 20 years after it stopped its service from Gimpo to Rome in 1995. Also, it has deployed A330-2

Elliott Management said on June 4 that it obtained 7.12 percent of Samsung C&T, and now various scenarios about the hedge fund’s intention are being discussed.At present, the analysis saying the hedge fund is aimed at capital appreciation is considered persuasive in the market.An anonymous senior so

The Korea Automobile Importers & Distributors Association announced on June 4 that a total of 18,386 new imported cars were registered in Korea last month, to show a 1.0 percent increase from a month ago and 20.1 percent growth compared to the same period last year. It added that the cumulative numb

A consortium of Korean organizations including a builder, a medical equipment supplier, and a university hospital is expected to launch a large-scale general hospital construction project in Iran next year.Samsung, GS, and Daelim Industrial are trying to win the medical industrial complex developmen

Cheil Jedang has started full-fledged production from its L-methionine plant. Earlier, the company and France-based Arkema jointly invested to construct a plant in Malaysia, which can produce 80,000 tons of L-methionine per year.On June 4, the company held the completion ceremony of the plant for L-

Samsung Heavy Industries announced on June 4 that it signed shipbuilding contracts for three shuttle tankers with an American shipper in Oslo, Norway, the venue of this year’s Nor-Shipping expo, and the contract amounts total approximately US$330 million.Each of the 155,000 DWT ships is about 293 me

Samsung C&T Corp. (CEO Choi Chi-hun) announced on June 4 that it won a deal to build a 1B construction of a section of the step 1 of the “WestConnex” project initiated by the state government in New South Wales.The WestConnex project is a large-scale construction project to build a road that will li

American hedge fund Elliott Management announced on June 4 that it bought 11.125927 million Samsung C&T shares, equivalent to 7.12 percent of the total, at 63,500 won (US$57.16) per share. The total purchase cost amounted to 706.5 billion won (US$636.0 million). Established in 1977, the hedge fund i

Samsung Electronics is denying the rumors about the company’s likely merger with Samsung SDS. Accordingly, many suspect that the company will attempt to slow down the succession and reshuffling process, which has taken place since the hospitalization of Chairman Lee Gun-hee last year.Lee Myung-jin,

Japanese shipbuilders are raising their share in the LNG carrier market where Korean and Japanese shipbuilders recorded a market share of 55 percent and 26.8 percent two years ago, respectively. The latter’s share had been higher until the 1990s, but the former overtook them at that time by taking a

A local research institute is working on a project to develop a production system aimed at bringing the era of custom-made products closer through the convergence of the ICT and manufacturing industries. The project is expected to contribute to realizing Industry 4.0 that makes products by breaking