KDB Bank has rejected the Kumho Asiana Group's self-rescue plan for Asiana Airlines, saying it is insufficient to restore market confidence.KDB, the main creditor of Asiana Airlines, said on April 11 that participants in a meeting of creditors of nine Asiana Airlines expressed a negative stance

Samsung Electronics is planning to increase production of modem chips and solutions for 5G telecommunication, according to MK (Maeil Business News Korea) on April 9. This is because 5G smartphones are becoming more popular than expected, and it is heard that the size of increase in the production is

Korea National Oil Corp. (KNOC) said on April 9 that it has secured a mining right for the 8 mining area located in deep-sea area of the East Sea and the northern part of the 6-1 mining area from Australia's largest oil developer, Woodside, and the government.The two mines will be located in the

Daewoo Engineering & Construction (Daewoo E&C) recently announced that the Botswana-Zambia Kazungula Bridge project, which was temporarily suspended last month due to the failure to pay construction costs by the Zambia-ordered owner, has resumed following the deposit of construction costs.On March 2

VinFast Trading and LG Chem on April 5, 2019 officially announced the establishment of their joint-venture company for battery pack production.The plant is located in VinFast’s Supplier Park in the northern port city of Hải Phòng. In the initial period, the factory will provide batteries for VinFast

Woori Bank signed a business agreement with Naver Line on April 5 to develop financial products and services that combine artificial intelligence technology. Woori Bank and Line will establish an "AI joint lab" consisting of artificial intelligence experts from both companies in the mid- and long-te

LG CNS said on April 3 that it has signed a business agreement with Changwon City to create a smart city.LG CNS and Changwon City plan to co-participate in the "smart city challenge" project, which is a public offering project of the Ministry of Land, Infrastructure and Transport, and promote cooper

Hyundai Motor's domestic business sector swung to the red last year. It is the first case since 1998, when it can be confirmed through a business report. According to a Hyundai Motor's business report on April 3, the company incurred an operating loss of 59.32 billion won based on separate f

Mirae Asset Chairman Park Hyun-joo will donate the entire amount of dividends for 2018, which was finalized at a shareholders' meeting of Mirae Asset Global Investments on March 29.Park's donation of dividends, which has been running since 2010, amounts to a total of 23.2 billion won over th

Woori Bank will start its investment banking (IB) operations in Indonesia, strengthening its efforts to tap the local market.According to the financial source on April 1, Woori Bank established a team dedicated to IB at Woori Saudara Bank, a local subsidiary in Indonesia, in February. Although its l

Seoul Metropolitan Government has notified Hyundai Motor Group, which is seeking to build the Global Business Center (GBC) in Samseong-dong, of the 140 billion won payment in the overpopulation fee, the biggest since the system was implemented in 1994.Hyundai Motor is expected to agonize over fundin

KB Financial Group has opened an IB unit in London after Hong Kong to strengthen its global IB competitiveness at the group level.KB Kookmin Bank said on March 26 that it has opened its IB Unit at its London branch and started work. The London IB Unit is part of its partnership with financial instit

Samsung Electronics' first-quarter earnings are expected to be well below the expected level. In a public notice on March 26, Samsung Electronics said its first-quarter earnings are expected to fall below the market's expected level due to a weak environment in its display and memory busines

LS Cable & System Asia made a public notice on March 25 that LS-VINA, a Vietnamese production company, will supply 50 million U.S. dollars worth of power cables to a large solar power plant project in Vietnam. LS-VINA has signed a contract with Vietnamese builder Hoanh Son Group to supply medium and

Korea Electric Power Corp. (KEPCO) signed an MOU with Siemens to cooperate in promoting the smart building verification business between the two companies at the KEPCO Art Center in Yangjae-dong, Seoul on March 22.The MOU was signed between Lee Jong-hwan, head of KEPCO's technical innovation div

Doosan Heavy Industries & Construction said on March 20 that it has signed a contract with Indonesia's IRT (PT. Indo Raya Tenaga) to build the Jawa 9 and 10 thermal power plants. It is a project won through a consortium with the local state-run builder HK, with a total construction cost of about

A groundbreaking ceremony was held for SK Innovation's battery production plant in the U.S. "We are planning to enter the global top 3 for electric vehicle batteries by 2025," said CEO Kim Joon of SK Innovation.SK Innovation made an announcement on March 19 (local time) that it held a groundbrea

Harex InfoTech, UBpay (User Centric Shared Mobile Payment Platform) Service Provider, signed a strategic partnership agreement with Korea Convenience Store Association (Chairman, Gye, Sang Hyuk on March 20. The Association of Owners of Franchised Convenience Stores of the Four Major Brands: CU, GS 2

Forecasts of SK Hynix's performance in the first quarter are deteriorating. Up until January this year, there were predictions that its operating profit would be around $2.5 billion (2 trillion won), but after being lowered sequentially, it fell to $1.3 billion (1 trillion won) in just two month

NCSOFT announced on March 18 that it will introduce cases of research and application of AI (Artificial Intelligence) at its global game developer conference called "GDC 2019."NCSOFT will announce 'Blade & Soul' on March 19 (local time) on the subject of "Reinforcement Learning in Action: Cr