Hyundai Engineering and Construction said Tuesday it will open sales of 1,150 high-quality residential units in Daegu, Gyeongsang Province. The new residential complex, named Hillstate Dowon Central, consists of five 49-story high-rises located near Dalseong Park Station in Junggu, central Daegu. The Junggu area is expected to offer new 11,000 housing units in the future, attracting potential buyers with the location’s proximity to social and commercial infrastructures, including dep

SK hynix’s said Monday its non-memory semiconductor sales marked a 1.5-fold increase last year, while sales of memory products decreased by 33 percent on-year. The DRAM sales of SK hynix marked 20.3 trillion won ($16.6 billion), down 37 percent from a year earlier, while sales of NAND flash reached 5.1 trillion won, down 31 percent. The sales of SK hynix’s non-memory business, however, increased by 139 percent to reach 1.6 trillion won last year, from 650 billion won in 2018. Of

LG Group said Tuesday its four affiliates -- LG Electronics, LG Chem, LG Innotek and LG International Corp. -- have donated 50,000 coronavirus test kits to the Indonesian government. The donation was made in response to a request by the country, which lacks diagnostic kits due to the surge in COVID-19 cases, and to contribute to overcoming international difficulties caused by the infectious disease, the group said. Supplies of some diagnostic kits to the Indonesian National Board for Dis

Nexon’s holding company NXC said Monday it is developing an online trading platform in the form of a game, targeting young people held back by the complexity of conventional systems. The company has established a subsidiary Arques, to develop a friendly trading platform with a user interface of tycoon games for Generation MZ -- millennials and Gen Z -- who are discouraged by intricate systems despite their deep interest in investments. “Arques aims to develop a service where use

South Korean chemicals firm OCI said Monday it has launched a lunch box campaign for five days to support the socially vulnerable amid the coronavirus crisis. The company said its Pohang plant in North Gyeongbuk Province has started delivering lunch boxes to support the elderly people and the underprivileged in local areas from March 30 to April 3 as free community meals have been unavailable due to the COVID-19 outbreak. With voluntary donations made by the employees of Pohang plant and wi

South Korean companies should keep a close eye on the protectionist trade policies in the US as President Donald Trump is expected to raise trade barriers there ahead of the November presidential election amid the worldwide spread of coronavirus, a local trade association said Tuesday. The Korea International Trade Association’s new report said the coronavirus pandemic has emerged as an important variable in the Trump administration’s trade policy and the US presidential election

Samsung, LG may see historic TV sales during 2021-2022, despite delay from epidemic

Lotte Group Chairman Shin Dong-bin ranked as the highest-paid corporate executive in South Korea last year, industry data showed Monday.    Shin topped the list by receiving 18.18 billion won ($14.78 million) in wages from seven group companies, including Lotte Shopping Co., according to the companies' public disclosures. Lotte is the nation's fifth largest business group.    He was the highest salary earner in 2017 with 15.2 billion won, but his compensation nearly halved

A n employee at Samsung Electronics Co.'s chip production line in Yongin, south of Seoul, was confirmed to have contracted the novel coronavirus on Monday, a local government said.    The worker in his 20s first showed symptoms of the COVID-19 virus last week and took a test on Sunday, according to the city government of Hwaseong, where he resides.    After the result came out Monday, he was taken to a hospital and the authorities are tracing his contacts.    Th

COVID-19 real-time PCR diagnostic kit manufacturer Solgent is working to meet rising global demands, the company said Monday. Solgent is genome precision medicine company Eone Diagnomics (EDGC)’s affiliate that is currently at its full capacity churning out 3,000 kits per week. With one kit, 100 people can test whether or not they are infected with the novel coronavirus. Over 20 nations are requesting Solgent to export its independently developed DiaPlexQ Novel Coronavirus Detection Kit

South Korea’s consumer sentiment fell to the lowest level in more than a decade in March, affected by the continued spread of the COVID-19, data from the Bank of Korea showed last week. The composite consumer sentiment index reached 78.4 this month, a drop by 18.5 points and the lowest since March 2009. Consumer sentiment toward the current economic conditions plunged 28 points to 38, according to a subindex, also the lowest since March 2009.  (khnews@heraldcorp.com)

Posco Chemical said Monday it will invest 217.7 billion won ($178 million) to produce key materials for electric vehicle batteries. According to the company, its board of directors has approved the investment to construct a production facility for synthetic graphite anode for EV batteries. “Demand for synthetic graphite anodes for EV batteries is expected to spike as the market size is expected to grow from 194 GWh in 2020 to 3,066 GWh in 2030. It’s essential to be equipped wit

British American Tobacco announced Monday a new corporate strategy for 2020 to present less risky products for customers, while setting a new environment goal, according to BAT Korea. Under the new corporate aim dubbed, “Building a better tomorrow,” the company said it will target establishing 50 million non-combustible product consumers by 2030, to achieve carbon neutrality by 2030 and bring forward its existing 2030 environment targets to 2025. BAT Chief Executive Jack Bowles p

Smile delivery sees 111% on-year growth in Jan.-Feb.

Business sentiment in Korea plunges