Korea, China, Japan to cooperate on LNG purchase

information. Under the memorandum of understanding with Japan's JERA and China's CNOOC, KOGAS will work together with the two companies to create a "favorable" environment for LNG purchases, the utility firm

KOGAS sues construction firms over price fixing

The state-run Korea Gas Corp. has filed a compensation suit against 13 construction companies over allegations they fixed prices for building its storage tanks, the companies said Thursday. The world's largest LNG importer filed the some 200 billion won ($172 million) suit with the Daegu District Court on Feb. 16, according to the announcement made by Hyundai Engineering & Construction Co., Daewoo Engineering & Construction Co. and Daelim Industrial Co. In April last year, the Fair Trade Commission slapped the 13 construction firms with a total of 351.6 billion won of fines for allegedly participating in the tenders after already deciding on a successful bidder between 2005 and 2009, and requested the prosecution's investigation. The three companies said they will appoint attorneys to actively respond to the case under legal procedures. (Yonhap)

[Superrich] Breakdown of salaries for heads of listed public companies

resigned voluntarily in December 2015 for the 20th general election, with Kim Kyong-won, who started running the company in July. CEO of KOGAS: 509.9 million won (2013~2015) This is the only corporate out of

Korea under pressure to cut trade surplus with US

regard, speculation has been raised that KOGAS will replace a contract with Brunei with a deal with the US when it expires next year. Korea has relied on Middle East and Southeast Asian countries for most

글로벌 인재 모여 ‘창조인재가 살고 싶은 서울’ 방향 고민한다.. SIBAC 총회 28일 개최

, 60개국 중 37위) 결과를 예로 들며 두뇌유출 문제를 막기 위해 한국기업 및 학계의 위계질서 장벽을 허물고 관용사회가 되어 인재유치 일자리 정보를 교환할 수 있는 장을 마련해야한다”고 조언한다. ‘노부유키 고가(Nobuyuki Koga)’ 노무라 증권 이사회 회장은 “한국과 일본은 고령화 사회 및 인력부족 등의 문제로 인재유치가 절실하다”는 점을 강조하며

[EQUITIES] ‘KEPCO to post record-high Q3 operating profit’

15.47 trillion won (US$13.57 billion) but its operating profit should rise 7 percent to 4.64 trillion won on-year, estimated Yang Ji-hye, an analyst at Samsung. “Given that KOGAS’ sales of liquefied

KOGAS to sell 330,000 tons LNG to BP for 20 years

[THE INVESTOR] Korea Gas announced on Oct. 5 that it has signed an agreement with BP to sell annual 330,000 tons of liquefied natural gas produced at its offshore facility in Mozambique for the next 20 years. Through its subsidiary, the state-owned company owns 10 percent stake of Coral South Floating LNG Facility expected to be installed offshore the African country. The facility is operated by Eni East Africa, which owns 70 percent stake in Area 4, where 1.8 billion tons of gas was discovered in 2014, and will begin commercial operations from 2022. Commercial details of the agreement remain undisclosed. By Hwang You-mee ()

KOGAS’ natural gas sales up 6% in Aug.

[DISCLOSURE] Korea Gas (036460) reported on Sept. 13 that its sales of natural gas in August increased 5.6 percent to 2,197,000 tons, on-year. Sales of city gas declined 1.5 percent to 805,000 tons while sales for power generators rose 10.4 percent to 1,392,000 tons. By Jung Min-kyung ()

KOGAS to develop LNG terminal in Brazil

[THE INVESTOR] Korea Gas has signed a memorandum of understanding with Ceara state government of Brazil on Sept. 9 for a project to develop a liquefied natural gas terminal, it announced on Sept. 13. The state-owned company will form a consortium with a civil partner and transform the current floating storage regasification unit at Pecem port to an onshore unit. Based on this project, the gas company is seeking to develop a “total LNG business solution model” that offers a package deal from import of LNG to supplying to ultimate consumers by setting up power generation plants and steel mills. By Hwang You-mee ()

S. Korea gov’t to lower public firms’ debt-equity ratio to 150%

& Housing Corp. will reduce its debt-equity ratio to 312 percent by 2020 from an estimated 358 in 2016, while KOGAS will post a debt-equity ratio of 247 percent by 2020, down from 2016‘s 302 percent. ()