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Reporter : Lee Hyo-sik
Thu, June 1, 2023 | 03:56
GS chief stresses 'strategic flexibility'
GS Group should become a more agile and dynamic organization to more effectively cope with rapidly changing business conditions, its chief said Thursday. The retail and energy-centered conglomerate also needs to invest more to strengthen its core businesses and nurture new growth engines, according to GS Chairman Huh Chang-soo, who stressed the importance of creating decent j...
Companies | 2017-10-19 15:43
Hite-Jinro union criticized for meddling in management
The labor union at Hite-Jinro is causing a stir for demanding the replacement of an executive in charge of labor relations while an ongoing strike has been severely disrupting the company’s operations. Korea’s largest maker of the distilled liquor soju said Thursday that the union’s demand is not the subject of collective bargaining, urging striking workers to "come to their senses" and work harder with management to reach a consensus. Demanding a 7 percent hike in the base salary, union workers began a partial walkout on Sept. 25. They have been staging a full-scale strike since Oct. 13, wi...
Companies | 2017-10-19 15:38
Daewoong sued over alleged theft of botulinum toxin
Medytox, Korea’s largest maker of botulinum toxin (BTX), will file a civil lawsuit here against Daewoong Pharmaceuticals, accusing the latter of stealing its strain of the toxin, the company said Wednesday. The decision came four months after Medytox lodged a civil suit with the Orange County Court in southern California, which recently ordered the litigation to be first deal...
Companies | 2017-10-18 17:02
Hankook Tire opens 1st plant in US
Hankook Tire has opened its first plant in the United States, taking another step toward becoming one of the world’s top-tier tire makers. Korea’s largest tire maker said Wednesday it held an opening ceremony for the plant, capable of producing 5.5 million tires annually, in Clarksville, the southeastern state of Tennessee. Company CEO Seo Seung-hwa attended the ceremony alon...
Companies | 2017-10-18 16:54
POSCO chairman in Brussels
POSCO Chairman Kwon Oh-joon, left, poses with Nippon Steel & Sumitomo Metal Chairman Kosei Shindo during the annual meeting of the World Steel Association in Brussels, Belgium, Tuesday (local time). Kwon, elected as the association’s vice chairman this year, will become its chairman in 2018. / Courtesy of POSCO
2017-10-18 16:45
Herbalife offers nutrition for 'healthy aging'
People want to live a long, healthy life, but in many cases it is easier said than done, given long working hours, mounting stress, financial difficulties and other obstacles. But living a healthy life may not be as difficult as it sounds if they seek help from Herbalife, a global nutrition provider, according to its chief promoter. In an interview with The Korea Times, John ...
Companies | 2017-10-17 18:41
Raising cancer awareness
Citizens take part in the 2017 Pink Run at Yeouido Park in Seoul, Sunday, an event organized by AmorePacific to raise public awareness of breast cancer. More than 10,000 people wearing pink T-shirts ran either five or 10 kilometers. Korea’s largest cosmetics firm also provided participants with useful information about breast health and self-examination methods. / Courtesy of...
2017-10-15 16:25
Hyundai Merchant to issue rights
Hyundai Merchant Marine (HMM) plans to issue rights to raise 693.6 billion won ($620 million) to add ships to its fleet and purchase stakes in shipping terminals in North America and elsewhere. Korea’s largest shipping firm said Sunday it will offer 120 million new shares at 5,780 won each, stressing the money will be used to strengthen its core competitiveness. HMM stocks closed at 8,040 won per share Friday, down 80 won, or 0.99 percent.
Companies | 2017-10-15 16:20
Korea lags behind in attracting FDI
Korea is lagging behind other advanced countries in attracting foreign investment as it continues to fail to create a business-friendly environment for multinational companies, according to a local think tank Sunday. The Korea Economic Research Institute (KERI) urged the Moon Jae-in administration to ease regulations and make taxes and other regulations more corporate-friendly to spur growth and create jobs. The institute is affiliated with the Federation of Korean Industries.
Economy | 2017-10-15 16:17
Moon's policies burden businesses
President Moon Jae-in, who campaigned on promises of giving more to workers, has introduced an array of labor-friendly policies and placed a heavier burden on businesses, according to analysts, Tuesday. The Moon administration, among others, has been pushing to impose a higher income tax on corporations, reduce working hours and raise minimum wages to force employers to pay more to workers and add more to their payrolls. This approach has made it more difficult for Korean companies, which have been struggling to deal with the prolonged domestic consumption slump, to generate earnings, expand...
Economy | 2017-10-10 16:53
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