KT Corp. said Thursday the company was considering acquiring Woongjin Coway, the nation’s largest water purifier manufacturer up for sale since February. “We are considering possible acquisition of stakes at Woongjin Coway but nothing has yet been decided,” the nation’s second-largest telecom carrier said in response to an inquiry from the Korea Exchange on the day. “Within one month or when any details are finalized, we will make a new announcement.” According to industry sources, KT had receiv

 Herbal cosmetic products, shampoos and even red ginseng spa popularA housewife in her early 50s, Kim Jung-won has been using Sulwhasoo’s Snowise UV Protection Cream ever since she first spotted it at a local shop about 10 years ago. Though she has always been a fan of Korean cosmetics, the cosmetic brand’s oriental ingredients especially attracted her. “Who would know better about Koreans’ skin, Koreans or foreigners? From what I have used, cosmetic products made in Korea were milder and better

Woongjin Group’s announcement that it would unload its water purifier unit, Woongjin Coway, sparked mixed reactions among investors and analysts on Tuesday, as demonstrated in the steep price changes of related shares.Woongjin Holdings shares shot up 14.9 percent to close at 7,250 won on Tuesday, reflecting a positive reaction to the plan to sell off Coway. Woongjin Chemical also climbed 13.46 percent to 1,180 won and Woongjin Energy surged 14.87 percent to 8,190 won. The chemical and energy aff

Korean stocks closed 0.43 percent higher Tuesday on eased concerns over Greek debt problems, analysts said. The local currency gained against the U.S. dollar.Moving in a tight range, the benchmark Korea Composite Stock Price Index gained 8.46 points to 1,981.59. Trading volume was heavy at 532.5 million shares worth 6.50 trillion won ($5.81 billion) with gainers outstripping losers 447 to 393. “Investors are taking a wait-and-see approach. Investor angst was offset by anticipation that the debt

Woongjin Group announced Monday that it will sell Woongjin Coway, the nation’s biggest water purifier maker, according to news reports.The news immediately sparked market attention on the reason behind the sale, as the company is a money-making subsidiary for the conglomerate. Coway’s sales last year took up about 27 percent in the conglomerate’s total output. The company also enjoys a share of more than 50 percent in water purifier marketSome industry watchers said the sale may be aimed at secu

HONG KONG (Yonhap News) ― Woongjin Coway Co., Korea’s biggest water purifier maker, will focus on the high-end cosmetics market in China this year, in a bid to tap into the world’s fastest growing cosmetics market, company officials said Wednesday. Woongjin Coway’s wholly owned unit in China is currently engaged in the cosmetics and home appliance businesses. Its cosmetic sales in China were estimated at 240 million yuan ($38 million) last year, up 16 percent from a year earlier.Revenues from Wo

The nation’s antitrust watchdog said on Thursday it slapped the three chaebol Woongjin, Hanwha and STX with fines totaling more than 6 billion won for concentrating orders to affiliate companies.A fine of 3.43 billion won ($2.97 million) was imposed on Woongjin, 1.48 billion won on Hanwha and 1.13 billion on STX for giving out orders to subsidiaries with low earnings, the Fair Trade Commission said. Woongjin’s five major affiliates Woongjin Think Big, Woongjin Coway, Woongjin Chemical, Kukdong E

The government plans mandatory targets of carbon emissions for five energy-intensive industries ― steel, electronics, petrochemicals, cement and refining. The sectors account for about 88 percent of the total emissions reduction under the program.By company, POSCO tops the list, followed by Samsung Electronics, LG Display, Hyundai Steel, Samsung Mobile Display, Ssangyong Cement Industrial, LG Chem, S-Oil, SK Energy and Tongyang Cement & Energy. The 10 firms account nearly 30 percent.POSCO, respo

Woongjin Coway said Thursday it filed a complaint with the Fair Trade Commission against LG Electronics’ sales outlet chain, accusing it of spreading false information about its water purifier products.Woongjin Coway, the nation’s top maker of water purifiers, has continued to criticize the electronics giant for entering its business two years ago. Water purifiers were excluded from the latest list of business areas that should be left for only small and medium-sized companies announced by a gov

A water purifier commercial has become the latest source of tension between LG and Woongjin over air purifiers and cosmetics.Woongjin Coway requested LG Electronics to stop airing its Healthcare water filter commercial, accusing it of slandering Woongjin products.The LG television commercial says: “Water put in a plastic tank is for washing, not drinking.”LG Electronics water purifiers use water tanks made of stainless steel, while Woongjin’s are fitted with plastic tanks.“The use of the express

LG Electronics, LS Cable, Homeplus, Amore Pacific launch Green PartnershipKorea’s leading retailers and makers of electronics, medical devices and electric wires will team up with their subcontractors to give a fresh impulsion to the government’s drive to slash greenhouse gas emissions and tackle global warming.The Ministry of Knowledge Economy said Monday it has clinched deals with six large enterprises and their 53 suppliers and consultants for its Green Partnership program. The list includes

LG Electronics, LS Cable, Homeplus, Amore Pacific launch government-led ‘Green Partnership’ Korea’s leading retailers and makers of electronics, medical devices and electric wires will team up with their subcontractors to give a fresh impulsion to the government’s drive to slash greenhouse gas emissions and tackle global warming.The Ministry of Knowledge Economy said Monday it has clinched deals with six large enterprises and their 53 suppliers and consultants for its Green Partnership program.

  Woongjin Coway Co., already the industry leader in water and air purifiers, is enjoying a second bloom. The Seoul-based company logged sales of 1.51 trillion won ($1.43 billion) and 228.8 billion won of operating profits last year, marking the 12th consecutive year of record-high sales.“In May, we reached record-high sales in just a month. We are entering our second heyday,” Woongjin Coway CEO H

Ministry: 166 firms reduced 56,000 tons of greenhouse gas emissions during last 2 yearsKorea’s efforts to shrink its carbon footprint are progressing through partnerships between big and smaller companies.The Ministry of Knowledge Economy said Monday that 166 local businesses have reduced more than 56,000 tons of greenhouse gas emissions over the last two years in a green collaboration program, a