Korea Land and Housing Corp. (LH) announced on Aug. 8 that it has signed a memorandum of understanding (MOU) on establishing a joint venture to build an industrial complex with the Urban and Housing Development Department (UHDD) of Myanmar’s Ministry of Construction (MOC) and Global Sae-A Co. in Nay

An increasing number of corporate executives are buying treasury shares to help defend their company shares as a host of stocks hits new yearly lows amid a bearish run in the Korean market.Kumyang Co. CEO Ryu Gwang-jy announced that he bought back 76,153 company shares over the last three days, acco

Approximately 250 Kia Motors employees converted into production workers from sales workers are currently waiting to be assigned for a month. This is because the Kia Motors labor union overturned its previous agreement with the management. The assignment is likely to be handled after this year’s wag

Korea Resources Corp. called for bids on Aug. 8 to sell 10 percent shares in the Cobre Panama copper mine. However, the tender failed with the bidding prices of Japanese, Chinese and Canadian bidders extremely lower than the price the corporation determined based on third-party valuation.This has to

The labor union of GM Korea has secured legal right to strike as the National Labor Relations Commission decided on Aug. 8 to suspend arbitration on the dispute over wage negotiations between the labor union and management at GM Korea.The commission decided to suspend arbitration because it found it

Kia Motors’ Indian plant has begun mass production of the global compact sports utility vehicle (SUV) Seltos.Kia’s Indian plant has an annual production capacity of 300,000 units. The automaker plans to use it as a base for penetrating India, the Middle East and Asia.Kia Motors celebrated mass produ

Korea and the United Arab Emirates (UAE) wrapped up the Korea-UAE aviation talks without reaching an agreement on expanding flights between Incheon and the UAE.The Korean Ministry of Land, Infrastructure and Transport announced on Aug. 8 that the Korea-UAE aviation talks were held in Abu Dhabi for t

Koh Dong-jin, head of Samsung Electronics’ IM Division, has expressed concern that Japan’s export restrictions, if prolonged, would cause a disruption in the company’s smartphone production."We have no problem in launching new products such as the Galaxy Note 10 and the Galaxy Fold as we have secure

Intensifying competition among Chinese smartphone makers over high-pixel cameras is pushing up the adoption of Samsung Electronics' image sensors. Chinese smartphone makers want to attract customers with low-price, high-performance products.Samsung Electronics aims to ramp up its share of the im

The initial public offering (IPO) market is freezing due to the recent crash of the South Korean stock market. As an increasing number of companies withdraw their listing plans due to concerns over a low level of subscriptions, firms preparing for listing are expected to feel nervous for a while.Onl

Amid a boycott of Japan-made goods and services triggered by Japan’s exclusion of South Korea from its whitelist of trusted trade partners, the number of customers paying with credit and debit cards at Uniqlo, one of the most popular Japanese retailers in South Korea, halved in July.The number of cu

The Japanese government has issued an export permit regarding semiconductor material shipment to Samsung Electronics in about one month after the implementation of its export restrictions targeting the three semiconductor materials of hydrogen fluoride, photoresist and fluorine polyimide.The export

Marc Knapper, Acting Deputy Assistant Secretary of State for Japan and Korea, remarked on Aug. 7 that the United States will remain involved in the ongoing trade disputes between South Korea and Japan and it is prepared to promote dialogues between the two countries. He also mentioned that some soul

South Korea's fiscal soundness is rapidly deteriorating, with the government's budget balance suffering a record deficit in the first half of this year. The ballooning deficit was the result of the government's expanded spending on various welfare policies despite a slowdown in tax reven

The stock price of Hanjin KAL Corp., the holding company of Hanjin Group, continues to rise despite the recent crash of the South Korean stock market. Some say this might be a signal that another round of ownership battle has begun between Hanjin Group and the Korea Corporate Governance Improvement

SKC, a chemical manufacturing subsidiary of SK Group, has agreed with Petrochemical Industries Company (PIC) of Kuwait to set up a 1.45 trillion won chemical joint venture. The deal will move SKC one step closer to reaching the goal of producing 1 million tons of propylene oxide (PO).SKC decided on

In response to Japan's export restrictions against Korea, state-run financial institutions will launch an acquisition financing support group to support Korean companies’ acquisition of overseas materials, parts and equipment producers.The Financial Services Commission has decided to launch the

The Ulsan National Institute of Science and Technology (UNIST) announced on Aug. 7 that professor Kwon Oh-hoon at its School of Natural Science and his research team has developed an analysis method by which how a subnanometer-level substance changes in structure can be seen every femtosecond by mea

Middle Eastern airlines with plenty of oil money are threatening the Korean aviation industry.The Korean government started a two-day aviation talks with the United Arab Emirates (UAE) in Abu Dhabi on Aug. 7. The UAE side has reportedly asked Korean authorities to more than double the number of serv

South Korea’s leading steelmaker POSCO has developed a new building technology that can stack up three floors at one go.The company announced on Aug. 7 that its “POSCO Box (P-Box) pillar and ferroconcrete beam bonding” technology has been designated as a new construction technology by the Ministry o