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Industry/Energy
The LS Group has turned to exploring new growth engine industries such as the smart grid and electric vehicles that will drive the business group down the road. The conglomerate recognizes that now is the right time to do so since new technologies based on the green and smart grid industries ha…
 GS Caltex, the first privately invested oil refinery in Korea, celebrated its 45th anniversary in a ceremony held on May 18, a day before its actual anniversary, at GS Tower in Yeoksam-dong, southern Seoul, with some 400 executives and staff of the oil refinery and cooperative firms attending …
SK Innovation Co. recently announ-ced its consolidated 2011 financial statement including SK Energy’s crude oil drilling operations, showing total sales revenue of 68.375 trillion won, operating profit of 2.848 trillion won, and net profit of 3.18 trillion won.The annual sales figures are up 27 per…
Hyundai Mobis set up its China headquarters and tapped Managing Director Chang Kook-hwan to head it in a large-scale reform of the company’ s operation designed to place it among the top five auto parts makers in the world by 2020 under its ‘2020 Global Auto Parts Top Five’  plan. The strate…
Samsung Electronics has not yet surpassed Apple or completely outstripped Nokia, but Samsung’s positive, young talents will ultimately put Samsung smartphones in the top position globally,” Shin Jong-kyun, president in charge of the Information and Mobile Communications business at the Korean elec…
Samsung Electronics Co., a global leader in digital media and digital convergence technologies, announced the third generation GALAXY S, the GALAXY S3 in London on May 3. Designed for humans and inspired by nature, the GALAXY S3 is a smartphone that recognizes your voice, understands your intention,…
Korea has launched a project to construct Shin Ulchin Nuclear Power Units 1 & 2 using home-grown core equipment and components.Korea Hydro & Nuclear Power Co. (KHNP) held a ceremony to launch the construction of Shin Ulchin Nuclear Power Units 1 & 2 on May 4 at the construction site near…
President Choo Kang-soo has always stressed that Kogas should expand its own gas fields overseas in order to better compete with global gas firms.Since his arrival at Kogas in 2006, he has been pushing the company’s overseas natural gas exploration under the slogan, “Kogas with the people, coopera…
Korea National Oil Corp. (KNOC) and Petro Vietnam signed an MOU on strengthening cooperation between the two oil companies on oil storage and exploration at the Shilla Hotel on March 29 in the presence of Vietnamese Prime Minister Nguyen Tan Dung, President Do Van Hau of Petro Vietnam, and President…
The government has asked people to conserve electricity as part of efforts to cope with dwindling electricity reserves, which are forecast to drop to 1.5 million kW in the third and fourth weeks of August.Vice Minister for Trade and Energy Cho Seok presided over a meeting of government and industry …
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Policy/Politics
Chairman Choi Jong-gu of Financial Services Commission is seen presiding over a recent meeting.(Photo: FSC) Chairman Choi Jong-gu of the Financial Services Commission (FSC) said the organization is set to draw up measures to require listed firms to …
A view of the Seoul Station where the KTX Seoul-Gangneung High-speed Rail starts. The KTX Seoul-Gangeung High-speed Rail will shorten the travel time by 1 hour 26 minutes by the time the new high-speed rail is launched next month, bringing the Peong…
Administrator Jung Dong-hee of the Korean Agency for Technology and Standards (KATS) delivers a speech at a ceremony to mark the 2017 anniversary of World Standards Day in Seoul on Oct. 19.Dignitaires, including KATS Administrator Jung Dong-hee, atte…
A view of the interior of the Korea Express Situation Room where traffic conditions on major expressways around the country are forecast using Big Data, especially, during the major holidays like Chuseok and lunar New Year.(Photo:KEC) Traffic in Kor…


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