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 …

Chairwoman Choi Eun-young of Hanjin Shipping saw her dream come true when she cut the rope in a ceremony to name a 13,100 TEU container vessel at the Hyundai Heavy shipyard in Ulsan after her late husband and former chairman of the shipping company, Cho Soo-ho. Along with the Hanjin Sooho, they also…

Now is the time for investment,” is what officials at GS Group must have believed when they decided to make 3 trillion won in investments this year, a 48 percent jump over last year.The investments will go to such key areas as strengthening business structures for its future stability and to secure…

Chairman Chung Joon-yang of POSCO said his second term as head of the steel giant will be focused on overcoming the current crisis and making POSCO a company loved by the public rather than becoming a top-class corporation.Meeting reporters after attending the breakfast meeting of the World Manageme…

Kia Motors will begin a diverse marketing campaign for its new K9 sedan, which will be introduced in May in Korea, so that the new model will be able to outsell luxury foreign sedans sold in Korea. Kia Motors will open 10 new exclusive showrooms for the brand new luxury model in large cities in…

Samsung Electronics has recently announced its provisional earnings for the first quarter of this year, posting approximately 45 trillion won in consolidated sales, a 4.9 percent decline from the previous quarter but a 21.7 percent jump over the same period a year earlier, and approximately 5.8 tril…

Chairman Chey Tae-won of SK Group, Chairman Wang Tianpu of SINOPEC and CEO Nick Elmslie of BP Chemical are seen in this photo on Feb. 22 signing an MOU to jointly build a petrochemical plant in Chongqing, China.SK Group signed an MOU with British Petroleum (BP) and SINOPEC to build a petrochemical p…

Galaxy S II was named “Best Smartphone” by GSMA, an organization that represents the interests of the worldwide mobile communications industry and hosts the Mobile World Congress trade show in Barcelona. Samsung Electronics became a double award winner as he grabbed the Device Manufacture of the Y…