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Reporter : Lee Hyo-sik
Mon, May 29, 2023 | 19:08
New KITA chief vows to support small exporters
The new head of the Korea International Trade Association (KITA) has pledged to mobilize all resources to help small exporters bolster their overseas shipments, as demand grows for made-in-Korea products across the globe. KITA Chairman Kim Young-joo also told reporters Thursday the export promotion body will bridge the government and the private sector, adding it will proacti...
Economy | 2017-11-16 19:15
Hyundai Motor opens innovation center in Silicon Valley
Hyundai Motor has set up an open innovation center in Silicon Valley to further strengthen its knowhow and expertise in autonomous driving, connected cars, artificial intelligence (AI) and other newly emerging innovative technologies. Korea's largest carmaker has also signed an agreement with French tiremaker Michelin to jointly develop tires for its electric vehicles. The co...
Companies | 2017-11-15 16:39
RDA bolsters sharing of agricultural knowhow with developing world
The Rural Development Administration (RDA), the state-run agricultural research institute, has pledged to share more of its state-of-the-art agricultural knowledge with developing countries to help them boost production, control pests and diversify farm products. At a press conference with members of foreign media outlets in Seoul, Tuesday, RDA Director General Lee Kyu-seong ...
Economy | 2017-11-14 16:19
KCCI honors best photo
Korea Chamber of Commerce and Industry (KCCI) Chairman Park Yong-maan, left, poses with Cho Yoo-hoon during a photo award ceremony at KCCI headquarters in Seoul, Tuesday. Cho won this year’s grand prize for his photo of construction workers on a suspension bridge. / Courtesy of KCCI
2017-11-14 16:15
Conflict among execs forces WeMakePrice CEO to step up
The head of WeMakePrice has decided to tighten his grip on the management of the country’s leading e-commerce site by relieving his two deputies of their duties following their widely-publicized quarrel. The company said Tuesday CEO Park Sang-eun will assume a larger managerial control by directly overseeing product development, marketing and other departments to create great...
Companies | 2017-11-14 16:11
Francis Van Parys heads GE Healthcare Korea
GE Healthcare appointed Francis Van Parys as the new head of its Korean unit, replacing outgoing CEO Sia Moussavi who has moved to Canada to oversee the firm’s multi-vendor service unit there. Prior to joining GE Healthcare, Van Parys held several key positions in marketing and sales within GE Life Sciences and Consumer & Industrial divisions. He was also recognized for his a...
Companies | 2017-11-13 15:51
AmorePacific opens new headquarters in Yongsan
AmorePacific has opened its new headquarters in Yongsan-gu, Seoul, beginning a new era for the 72-year-old cosmetics maker seeking to become one of the world’s top five “beauty” companies. The completion is expected to facilitate the firm’s Vision 2025 plan in which it aims to become a “great company.” Toward that end, it is trying to bolster its overseas presence, innovate t...
Companies | 2017-11-13 15:44
Businesses bottoming out in China
Automakers, airlines, duty free shops and other businesses heavily dependent on China are welcoming improving Korea-Sino relations in recent weeks as the two sides work to get the soured ties back on track. Korean companies, which have been grappling with China’s economic retaliation since March when Korea officially decided to deploy a U.S. anti-missile battery here, are expressing hopes that business will get better amid growing signs of a thaw in icy relations. Things began picking up after the two countries announced an agreement to normalize ties Oct. 31, with China’s backlash against l...
Economy | 2017-11-12 16:48
Woori stake sale hits bumpy road
The government has decided not to dispose of its remaining 18.5 percent stake in Woori Bank this year as Korea’s third-largest commercial bank has been reeling from an unprecedented hiring scandal. Financial regulators had initially planned to complete the privatization of the bank by the end of the year, but had to delay the schedule after Woori CEO Lee Kwang-goo stepped down Nov. 2 amid the alleged illicit hiring of the children of government officials as its employees. Instead, they will attempt to sell a 7 percent stake, or 47.32 million shares, in the bank next year, according to the go...
Economy | 2017-11-12 16:43
'Innovation key to reviving Korea's dairy industry'
Korea should work harder to introduce innovative, value-added dairy products and deliver effective messages about the benefits of drinking milk if it wants to revive its struggling dairy industry, according to the founder of one of the largest dairy farms in the United States. Suzanne McCloskey, founder of Fair Oaks Farm and fairlife, said dairy farms here need to build stori...
Companies | 2017-11-08 20:30
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