[Super Rich] Hong Kong billionaire to push Korean cosmetics in China

Adrian Cheng, 37-year-old scion of the world’s largest jewelry retailer, said he will use his company’s extensive retail network in mainland China to help boost domestic sales of Korean cosmetic products.The grandson of Hong Kon...

[Super Rich] Fading fortunes of female chiefs at Hyundai Merchant, Hanjin Shipping

Money-losing Hyundai Merchant Marine and Hanjin Shipping have recently filed for creditor-led rehabilitation programs. There is another thing in common between the two shipping giants. They were led by female leaders, who suddenly...

Sales of Oxy RB products tumble amid nationwide boycott

Amid an escalating boycott nationwide, sales of Oxy Reckitt Benckiser, the maker of a harmful humidifier sterilizer, have plummeted by half from a year ago, local retailers said Tuesday.According to data compiled by supermarket ch...

Coway’s net profit rises in first quarter

Korea’s water purifier maker and distributer Coway Co. said its net profit jumped 22.7 percent to mark 95.2 billion won ($83.6 million) in the first quarter from a year earlier.In a public filing, the company said its sales rose ...

Samsung BioLogics to produce affiliate’s biosimilars

Samsung BioLogics is scheduled to begin producing biosimilar drugs developed by its affiliate Samsung Bioepis, as the two have entered a production partnership, the companies said Tuesday.Samsung BioLogics confirmed to The Korea H...

NongHyup to take ‘big bath’ provisions

NongHyup Bank will set aside more funds for loans that may turn sour in the next two years, in a preemptive measure to improve asset quality, the head of its parent NH Financial Group said Tuesday. NH Bank, as it is known, was a m...

Seoul shares up 0.4% on eased risk-averse mood

Korean stocks closed marginally higher Tuesday on eased risk-averse sentiment. The local currency dropped against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.26 points, or 0.42 percent, to 1,98...

Creditor calls for Samsung Heavy’s self-rescue plan

The main creditor bank of Samsung Heavy Industries has called on the shipbuilder to come up with self-rescue measures, in a move to speed up the government’s push in restructuring of the embattled shipbuilding segment hit by moun...

Monetary easing useful for growth, not for restructuring: HSBC

Korea can afford to implement more monetary easing to boost the economy amid weak growth, but not for the purpose of recapitalizing policy banks to finance restructuring of debt-laden companies, Frederic Neumann, an economist of H...

MSD Korea names new managing director

MSD Korea, the local affiliate of U.S.-based pharmaceutical company Merck & Co. on Tuesday said it has named former strategy head of MSD Japan Avi Ben-Shoshan as its new managing director.  Ben-Shoshan will replace former chief ...

Hanjin chairman quits PyeongChang committee

Hanjin Group chairman Cho Yang-ho has stepped down as the president of the PyeongChang Winter Olympics’ Organizing Committee, to save his debt-ridden shipping unit, the group said Tuesday.“Chairman Cho has offered to resign from...

LG Chem CEO renews commitment to FarmHannong

LG Chem CEO and vice chairman Park Jin-soo on Tuesday renewed his commitment to FarmHannong, an agrochemical firm recently acquired by the nation’s top chemicals company. “We will not just remain as the No. 1 in Korea. We will e...

Korea’s mid-sized builders up for sale

Many mid-tier Korean construction companies have been put on the block in a bid to quickly close their debt workout programs.Kyeangnam Enterprises, going through a debt workout since early last year, said Friday that Samil PwC, th...

Kumho Tire opens first U.S. factory

Kumho Tire celebrated the opening of its first U.S. manufacturing facility in Macon, Georgia, in the United States, on Monday that will help expand the tire-maker’s presence in North America, said company officials.About 300 peop...

Passenger flights up 12.4% in Q1

The number of domestic and international flight passengers in Korea reached over 24 million in the first quarter this year, continuing a steady increases since 2013, data showed Tuesday.According to the Transport Ministry, interna...