MARKETING AWARDS / GOLD PRIZE SK INNOVATION By Lim Su-kil Head of SK Innovation Value Creation Center SK Innovation pursues the “Green Balance 2030” initiative to seek growth through an eco-friendly business management strategy. We would like to express our gratitude to all who supported the public relations campaign “SK Innovation Going ESG.” As the ESG paradigm is becoming mainstream across the globe, a company that neglects environmental issues, hesitates to walk t

LG Chem Ltd., South Korea's leading chemical company, said Wednesday it will build a battery separator production plant in Hungary with Japanese chemical giant Toray Industries Inc. as part of efforts to expand its presence in the European market. Under the 50:50 joint venture deal, the two companies will invest over a combined 1 trillion won ($854.7 million), aiming for annual production of 800 million square meters of separators, the key component used in rechargeable batteries, by 2028, LG C

Between last-mile mobility innovation and public nuisance, Seoul regulators’ lackadaisical policy a textbook example of how innovation gets killed

CORPORATE PR AWARDS / GRAND PRIZE LG Energy Solution By Sung Hwan-doo Senior Vice President, Head of Corporate Affairs Group I want to say many thanks to the judges and members of The Korea Herald for this award. This year, LG Energy Solution made a new leap forward. And we are extremely happy to receive the Corporate PR Grand Prize at this crucial time when we are conveying our image as a company to the public for the first time. The secondary cell business has undoubtedly become one of

LG Display Co., South Korea's major display panel maker, said Wednesday that its third-quarter net income surged 4,067.5 percent from a year earlier to 463.5 billion won ($396.1 million), largely driven by strong demand and profitability of its OLED business. Operating income jumped 221.8 percent to 528.9 billion won in the three months ending in September, 17.3 percent lower than previously expected. Sales rose 7.2 percent on-year to 7.22 trillion won. Continued growth in pandemic-led demand

With South Korea’s economic engine sputtering, the country’s potential growth rate may hit zero in the following decade, a study showed Wednesday. According to the research published by the Korea Economic Research Institute, most of the country’s macroeconomic indicators, such as production, consumption and investment, cast a gloomy outlook. The country’s potential growth rate fell from 8.3 percent in the 1990s to some 2.2 percent in recent years, and if this trend pr

Energy, economy experts question feasibility of government’s 2050 net zero plan

Kia Corp., South Korea's second-biggest carmaker, said Wednesday its third-quarter net profit rose sharply due to a lack of one-off costs, but chip shortages remain a major concern for the carmaker. Net profit for the three months ended in September jumped more than eightfold to 1.135 trillion won ($970 million) from a net profit of 133.68 billion won in the year-ago period. Operating profit jumped more than six times to 1.327 trillion won in the third quarter from 195.23 billion won a year a

  Oci Co. on Wednesday reported its third-quarter net profit of 177.6 billion won ($151.8 million), up 2829.7 percent from a year earlier. The company said in a regulatory filing that it posted 194.6 billion won in operating profit for the quarter, compared with 18.1 billion won a year ago. Sales rose 89.9 percent to 888.7 billion won. (Yonhap)

Samsung Electro-Mechanics Co. on Wednesday reported its third-quarter net income of 353.5 billion won ($302 million), up 47.3 percent from a year earlier. The company said in a regulatory filing that it posted 457.8 billion won in operating profit for the quarter, compared with 307.4 billion won a year ago. Revenue rose 20.6 percent to 2.68 trillion won. The operating profit was 5.6 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of

South Korea's antitrust regulator said Wednesday it has imposed a combined fine of 3.8 billion won ($3.3 million) on eight affiliates of Harim Co. for providing undue business favors to Orpum Co., wholly owned by the poultry-processing firm. Those affiliates, including Farmsco, Sunjin, Jeilfeed and other livestock companies, had provided "excessive economic profits" to Orpum by purchasing livestock-related drugs solely from the Harim subsidiary at higher prices than the market price f

The number of female executives at South Korea's top 100 firms increased in 2021 from a year earlier to surpass the 300 mark for the first time, data showed Wednesday. Those leading companies in Asia's fourth-largest economy had a combined 322 women executives as of end-June this year, up 36 from last year, according to the data from local headhunter UnicoSearch. The figure accounts for 4.83 percent of all high-level seats offered by the major companies. The number of those firms' female exec

The chiefs of South Korean battery maker Samsung SDI Co. and global automaker Stallantis N.V. have met in Hungary, company officials said Wednesday, days after announcing a partnership to build an electric vehicle (EV) battery plant in the United States. The meeting between Samsung SDI CEO Jun Young-hyun and Carlos Tavares, CEO of Stellantis, came after the two companies announced a plan to jointly build an EV battery plant in the US, with the production to begin in the first half of 2025. It

Hyundai-Rotem Co. on Wednesday reported its third-quarter net income of 6.2 billion won ($5.3 million), up 36.3 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period fell 74.6 percent on-year to 7.9 billion won. Revenue increased 2.5 percent to 710.4 billion won. The operating profit was 70.1 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The es

Korea Zinc Inc. on Wednesday reported its third-quarter net profit of 200.3 billion won ($171.6 million), up 17.5 percent from a year earlier. The company said in a regulatory filing that operating profit for the July-September period fell 0.6 percent on-year to 265.8 billion won. Revenue increased 22.2 percent to 2.41 trillion won. The operating profit was 1.3 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The