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LG Group chief visits joint EV battery plant in Ohio

SEOUL, Oct. 18 (Yonhap) -- LG Group Chairman Koo Kwang-mo visited a joint venture between the group's battery making affiliate and U.S. carmaker General Motors Co. in Ohio, industrial sources said Tuesday. Koo has recently toured the No. 1 plant
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(LEAD) LG Chem to take over U.S. bio firm AVEO Pharmaceuticals for $566 mln

(ATTN: ADDS more details from 4th para)SEOUL, Oct. 18 (Yonhap) -- LG Chem Ltd., a major South Korean chemicals firm, said Tuesday it plans to take over AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, for US$566 million.In
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(LEAD) Hyundai, Kia reflect 2.9 tln won provisions in Q3 earnings

(ATTN: UPDATES with details in paras 2-4)SEOUL, Oct. 18 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Corp. said Tuesday they reflected 2.9 trillion won (US$2 billion) worth of provisions in their third-quarter earnings results, a move that cou
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LG Chem to take over U.S. bio firm AVEO Pharmaceuticals for $566 mln

SEOUL, Oct. 18 (Yonhap) -- LG Chem Ltd., a major South Korean chemicals firm, said Tuesday that it plans to take over AVEO Pharmaceuticals Inc., a U.S. bio firm focused on renal cell carcinoma, fir US$566 million.In a regulatory filing, LG Chem said
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Hyundai, Kia reflect 2.9 tln won provisions in Q3 earnings

SEOUL, Oct. 18 (Yonhap) -- Hyundai Motor Co. and its affiliate Kia Corp. said Tuesday they reflected 2.9 trillion won (US$2 billion) worth of provisions in their third-quarter earnings results, a move that could weigh on their September quarter botto
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Samsung's digital appliance chief offers to resign

SEOUL, Oct. 18 (Yonhap) -- Samsung Electronics Co. said Tuesday its home appliance president offered to resign for personal reasons.Lee Jae-seung, president and head of the digital appliances business at Samsung Electronics, started working at the co
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(LEAD) S. Korea to extend support for 'strategic' high-tech materials, parts

(ATTN: ADDS remarks from finance minister in paras 6-7, 11)SEOUL, Oct. 18 (Yonhap) -- South Korea decided to put more key technologies related to major materials, parts and equipment on its list for special management and support in a move to better
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S. Korea to extend support for 'strategic' high-tech materials, parts

SEOUL, Oct. 18 (Yonhap) -- South Korea decided to put more key technologies related to major materials, parts and equipment on its list for special management and support in a move to better ensure stable supply chains and to promote advanced industr
SsangYong Motor to sell shares to raise capital

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SEOUL, Oct. 18 (Yonhap) -- SsangYong Motor Co. on Tuesday announced that it will sell stock to raise capital.According to a regulatory filing, the company will issue some 7.14 million common shares at a price of 5,000 won per share. The stock will be
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S. Korea, the Philippines vow enhanced cooperation in key minerals, nuclear energy

SEOUL, Oct. 18 (Yonhap) -- South Korea and the Philippines agreed Tuesday to strengthen cooperation in supply chains of key raw materials and nuclear power, the industry ministry here said.The consensus was reached during their economic and trade coo
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BOK report raises need for higher proportion of fixed-rate loans to ease debt burden

SEOUL, Oct. 18 (Yonhap) -- Local banks' deposit-loan rate differences have been widening recently due in part to their high proportion of floating-rate lending, whose interest payments have been rising sharply in line with ongoing monetary tighte
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Number of employees in delivery sector rises in H1 amid protracted pandemic

By Kang Yoon-seungSEJONG, Oct. 18 (Yonhap) -- The number of employees in the delivery industry increased on-year in the first half of 2022, data showed Tuesday, amid growing demand for such services due to the prolonged pandemic.The couriers and mess
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Money supply up in August on increased deposits bolstered by rate hikes

SEOUL, Oct. 18 (Yonhap) -- South Korea's money supply increased in August from a month earlier as deposits at banks expanded due to fast-rising interest rates, central bank data showed Tuesday.The country's M2, a key gauge of money supply, st
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HD Hyundai's shipyards win ISO certification for anti-bribery management

ULSAN, Oct. 18 (Yonhap) -- South Korean shipbuilding, oil refining and machinery conglomerate HD Hyundai said Tuesday its shipbuilding units have obtained a global certification for their efforts to promote an anti-bribery corporate culture.Korea Shi
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S. Korea seeks more investment from Netherlands in chips, new energy fields

SEOUL, Oct. 18 (Yonhap) -- South Korea asked the Netherlands on Tuesday to make greater investments and enhance bilateral cooperation in semiconductors and such advanced industry fields as hydrogen and nuclear power generation, Seoul's industry m
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Hyundai Mobis supplies modules for 4 Mercedes-Benz EV SUVs

SEOUL, Oct. 18 (Yonhap) -- Hyundai Mobis Co., South Korea's leading auto parts maker, said Tuesday it has recently begun to supply chassis modules for Mercedes-Benz AG's four all-electric EV models assembled in the United States. Hyundai Mobi
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LG, Lotte to showcase eco-friendly plastic materials at German trade fair

SEOUL, Oct. 18 (Yonhap) -- LG Chem Ltd. and Lotte Chemical Corp. said Tuesday they plan to showcase their latest lineups of eco-friendly plastics and other advanced materials at a plastics trade show in Germany this week, as part of efforts to tap de
Top headlines in major S. Korean newspapers

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SEOUL, Oct. 18 (Yonhap) -- The following are the top in major South Korean newspapers on Oct. 18.Korean-language dailies-- Kakao's monopoly issue emerges after fire-caused service disruptions (Kyunghyang Shinmun)-- Regulators to conduct monopoly
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S. Korea, Saudi Arabia agree to boost ties in new industry fields

SEOUL, Oct. 17 (Yonhap) -- South Korea and Saudi Arabia agreed Monday to strengthen cooperation in hydrogen, entertainment and other new industry fields, as well as the overall economy, Seoul's industry ministry said Monday.The agreement was reac
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Bakery giant SPC apologizes over factory worker's death

SEOUL, Oct. 17 (Yonhap) -- South Korea's food and beverage giant SPC Group issued an official apology Monday over a young worker killed in an accident at one of the group's bread making factories over the weekend.The 23-year-old employee at t