Company aims to earn W2tr from green chemicals businessSK Chemicals will aim to make 3 trillion won ($2.8 billion) in sales in 2015, chief executive Kim Chang-geun recently told his company, SK Chemicals said Monday.SK Chemicals is a pharmaceuticals and chemicals maker affiliated to the country’s third largest conglomerate, SK Group. The company currently holds the largest share of Korea’s market

POSCO, the world’s fourth-largest steelmaker, is stepping up efforts to expand into South America’s infrastructure and natural resource development projects.On Saturday, POSCO chief executive Chung Joon-yang, who was on a four-day tour of Chile, Ecuador and Honduras, signed a memorandum of understanding with Li3Energy to provide technological and financial collaboration. POSCO chief executive Chun

A series of colorful events concerning the International Exposition Yeosu Korea 2012 will begin in Yeosu, South Jeolla Province on Tuesday.The three-month long event will be held at the southern port city from May 12, 2012 until Aug. 12.According to the provincial and city governments, and the event’s organizing committee, a celebratory event will be held at a sports stadium in the southern city o

The Ministry of Knowledge Economy said Sunday that it will inject 13.6 billion won ($12.5 million) into securing human resources pool for energy-related fields.Under the program, the ministry said it will support higher education institutions to train energy professionals, and help their research efforts.Overall, the ministry estimates that the projects will produce 3,600 energy professionals on a

By Choi He-suk Local economics organizations praised the National Assembly ratification of the Korea-EU Free Trade Agreement on Wednesday.The EU is Korea’s second largest export destination, and European goods account for the fourth largest proportion of Korea’s imports.As such, the pact is projected to have significant benefits for Korea’s economy with some projecting that it will have a larger e

(Speaker Park Hee-tae (upper left) presides over the plenary session for the vote on the Korea-EU free trade agreement in the National Assembly on Wednesday. Yang Dong-chul/The Korea Herald)U.S. says images would inflame anti-U.S. sentiment, incite violenceThe free trade agreement with the European Union, ratified by South Korea’s National Assembly on Wednesday after months of rickety proceedings,

Finance ministers of Asian countries agreed Wednesday to intensify their cooperation in staving off Asia-wide financial turmoil by taking preemptive crisis prevention measures, Seoul officials said.The agreement, which was made during a meeting in Hanoi, Vietnam, focuses on strengthening the role of a regional financial safety net under the Chiang Mai Initiative Multilateralization (CMIM), the Min

The value of the country’s automobile imports may exceed 10 percent of the value of exports for the first time this year.According to industry data, the value of automobiles imported into the country during the first quarter of the year came in at $1.15 billion while that of exports was tallied at $9.37 billion. The figures include passenger cars, buses and commercial vehicles.At the current rate,

STX Group is to set up internship programs for Saudi Arabian students, the conglomerate announced Wednesday.The group, the country’s 12th largest business group, signed a memorandum of understanding regarding the issue with the Saudi Arabian Culture Mission to Korea at the group’s office in Seoul.Under the agreement, the group will offer internship programs at its subsidiaries including STX Offsho

Hanwha Group will follow the principles of “challenge, dedication and integrity” as it seeks to innovate its operations in its drive to become a global player, the company announced Tuesday.Excluding state-run companies, Hanwha Group is the country’s 10th largest conglomerate. Hanwha Group chairman Kim Seung-youn (left) shakes hands with a representative of Hanwha employees at the ceremony declari

The Hana Tour International Travel Show will be held at the KINTEX exhibition center in Goyang, Gyeonggi Province from May 20 to 22.The show, organized by the country’s top travel agency Hana Tour Services Inc., will have booths displaying travel options by region and theme, the company said. Visitors browse last year’s Hana Tour International Travel Show at KINTEX in Goyang, Gyeonggi Province. (H

Renault Samsung Motors Co.’s plant in Busan will resume after-hours production and weekend operations, the company announced Monday.Extra production during weekdays resumed Monday, and weekend production will be resumed for eight hours each Saturday from May 14, the company said. Renault Samsung had stopped extra production after working hours since March 18 due to parts shortages caused by the Ma

Most local carmakers saw April sales rise by varying degrees from a year ago aided by increasing overseas sales.The only exception was Renault Samsung Motors Co., due to production cuts brought on by the parts shortage after the March 11 earthquake in Japan.However, the company resumed weekday production at normal levels on Monday, and plans to restart Saturday production from March 14.Last month,

Cruise ship operator All That Cruise announced Monday that it will begin operating cruise tours from January.The vessel, tentatively named the Hallyu Star, will be used on routes covering China, Japan and Southeast Asian destinations. Hallyu is a Korean word meaning “Korean wave” that refers to the popularity of Korean pop culture in other countries. While other Korea-based cruise operators have t

DALIAN, China ― On Friday, STX Group announced the “Vision 2020” at its shipyard in Dalian, China at an event celebrating the group’s 10th anniversary. The group hopes to become one of South Korea’s seven largest conglomerates with combined sales of 120 trillion won ($112 billion) by 2020.STX Group Kang Duk-soo, however, says that he has his eyes set on the global market. STX Group chairman Kang D

Hyundai Motor Group’s two carmakers Hyundai Motor Co. and Kia Motors Corp. are receiving orders for their first gasoline-hybrid electric vehicles from Monday.While the carmakers had introduced hybrid electric vehicles based on the compact cars Avante and Forte with liquefied natural gas-electric powertrain, the hybrid Sonata and K5 are their first gasoline-electric hybrids.The vehicles are fitted

Renault Samsung Motors Co. announced on Wednesday that a new vehicle navigation system developed in collaboration with SK Telecom will be applied across its lineup from 2012.The carmaker said that it has been working with SK Telecom, the country’s largest mobile telecom service provider, since December to develop a new navigation system.According to the company, the new system was developed as a “

The German high-performance specialist Porsche will be introducing the 911 GT3 RS 4.0. Limited to 600 vehicles, the 911 GT3 RS 4.0 is fitted with a six-cylinder, 4-liter engine capable of putting out 500-brake horsepower.  911 GT3 RS 4.0The 911 GT3 RS 4.0, fitted with a six-speed sports transmission, can reach 100 kilometers per hour in 3.9 seconds and double its speed in under 12 seconds. The veh

Bentley Korea launched the new Continental GT on the local market on Wednesday. The new Continental GT is fitted with a 6-liter twin turbo engine that puts out 575-brake horsepower, 15-brake horsepower more than the engine used in the previous version. The new Bentley Continental GTThe new Bentley’s speed tops out at 318 kilometers per hour, and requires 4.6 seconds to reach 100 kilometers per hou

Honda Korea is holding a sales campaign for small motorcycles until the end of May.During the period, the company is offering two coupons for free checkup services on all Honda motorcycles with engine displacements of 125 cubic centimeters or less. Models eligible for the promotion include the scooters PCX and SCR110, and the CBR125R sports motorcycle. Honda PCXThe coupons also cover free engine o