S. Korean conglomerates boost R&D spending, cut facility
By Joel Lee South Korea’s top conglomerates boosted spending on research and development (R&D) as a future growth strategy, while trimming down on capital investments in first half characterized by low consumer spending and exports. 167 listed non-financial firms belonging to the country’s 30 largest business groups poured 16.2 trillion won (US$15.9 billion) into R&D […]
Samsung Heavy and Engineering to merge in succession move for new Lee heirs
By Joel Lee South Korean conglomerate Samsung Heavy Industries announced its plan on Monday to absorb Samsung Engineering in a $2.5 billion merger and acquisition process to be completed by Dec. 1. The stock exchange ratio has been set at 2.36 shares of Samsung Engineering per one Samsung Heavy share. Industry watchers say the […]
Korea shipbuilding companies take the lead
Korea’s shipbuilding companies reclaimed the number one spot beating China. As of 12, according to CLAKSONS Research, international research institution, said domestic shipbuilding companies’ amount of order is 1.399 million CGT (Compensated Gross Tonage) which exceeds the amount of order for Chinese companies (1.223 million CGT) An official from the industry said that “the amount […]
[AJA Global Report] Algeria’s economy and the gap between resources and achievements
![[AJA Global Report] Algeria’s economy and the gap between resources and achievements](http://www.theasian.asia/wp-content/themes/city-desk/timthumb.php?src=http%3A%2F%2Fwww.theasian.asia%2Fwp-content%2Fuploads%2F2014%2F07%2FALGERIA-800x518.jpg&q=90&w=160&h=106&zc=1 "[AJA Global Report] Algeria’s economy and the gap between resources and achievements")
Algeria is the largest country in Africa in terms of surface area, the tenth in the world. It has the third largest oil reserves in Africa after Nigeria and Libya, where its proven oil reserves is estimated at 12.2 billion barrels. It also has the second largest reserves of natural gas after Nigeria, and is […]
DAEWOO E&C’s operating profit increased
DAEWOO E&C’s operating profit is 222.5 billion won which is 2.2% increase. DAEWOO E&C’s operating profit for the first half year is over 200 billion won. As of 25th, according to statement of accounts for the first half year, the total sales of the company is 4.58 trillion won. Operating profit is 222 billion won […]
Pantech’s new opportunity
Three wireless/mobile service providers (SK Telecom, KT Corporation and LG Uplus) decided to delay Pantech’s repayment schedule for 2 years. This will help Pantech to earn some time to normalize its financial situation. Three providers released the press release together in 24th saying that they will postpone Pantech’s repayment schedule for 2 years without interest. […]
Oil money rushing into Korean stock market
Recently, oil money has been rushing into Korean stock market. According to Financial Supervisory Service as of 23, foreign investors bought 2.79 trillion won worth Korean stocks. They sold 3.18 trillion won worth stocks for the first quarter, but in the second quarter, they turned into net buyers by purchasing 5.97 trillion won worth stocks. […]
Hyundai Engineering and Construction Co. won new contract from Singapore firm
Hyundai Engineering and Construction Co. in 22th revealed that the company formed a consortium with other companies such as Samsung C&T and Japan’s Penta-Ocean Construction and won $775 million worth contract in Singapore. JTC Corporation, a Singapore’s public company, ordered this contract. This contract is a project about constructing a reclaimed land in Tuas located […]
Demand for Korean cosmetics increases rapidly in Asia
Due to the popularity of Korean wave ‘Hallyu’ such as K-POP, cosmetics made in South Korea are selling very well. According to KOREA CUSTOMS SERVICE as of 22, monthly sales of cosmetics on June are $152 million which is the highest since January, 2000. By countries, China bought $44.8 million, Hong Kong $28.7 million, America […]
Accumulated earnings of Samsung and Hyundai Motors increased more than double.
Accumulated earnings of ten biggest conglomerates in Korea are doubled in 5 years. CEO SCORES, the website that evaluates company’s manageability, released the new report evaluating 10 biggest conglomerates and their 81 listed companies. The report stated that the total accumulated earnings of following companies were 515.9 trillion won. This is 90.3% increase from that […]
![[Novel] The Road to Shamawes ⑯](http://www.theasian.asia/wp-content/themes/city-desk/timthumb.php?src=http%3A%2F%2Fwww.theasian.asia%2Fwp-content%2Fuploads%2F2013%2F08%2FAshraf-2novel-news_9601.jpg&q=90&w=300&h=0&zc=1 "[Novel] The Road to Shamawes ⑯")
