SK Innovation Co. recently announ-ced its consolidated 2011 financial statement including SK Energy’s crude oil drilling operations, showing total sales revenue of 68.375 trillion won, operating profit of 2.848 trillion won, and net profit of 3.18 trillion won.The annual sales figures are up 27 per…

Hyundai Mobis set up its China headquarters and tapped Managing Director Chang Kook-hwan to head it in a large-scale reform of the company’ s operation designed to place it among the top five auto parts makers in the world by 2020 under its ‘2020 Global Auto Parts Top Five’  plan. The strate…

Samsung Electronics has not yet surpassed Apple or completely outstripped Nokia, but Samsung’s positive, young talents will ultimately put Samsung smartphones in the top position globally,” Shin Jong-kyun, president in charge of the Information and Mobile Communications business at the Korean elec…

Samsung Electronics Co., a global leader in digital media and digital convergence technologies, announced the third generation GALAXY S, the GALAXY S3 in London on May 3. Designed for humans and inspired by nature, the GALAXY S3 is a smartphone that recognizes your voice, understands your intention,…

Korea has launched a project to construct Shin Ulchin Nuclear Power Units 1 & 2 using home-grown core equipment and components.Korea Hydro & Nuclear Power Co. (KHNP) held a ceremony to launch the construction of Shin Ulchin Nuclear Power Units 1 & 2 on May 4 at the construction site near…

President Choo Kang-soo has always stressed that Kogas should expand its own gas fields overseas in order to better compete with global gas firms.Since his arrival at Kogas in 2006, he has been pushing the company’s overseas natural gas exploration under the slogan, “Kogas with the people, coopera…

Korea National Oil Corp. (KNOC) and Petro Vietnam signed an MOU on strengthening cooperation between the two oil companies on oil storage and exploration at the Shilla Hotel on March 29 in the presence of Vietnamese Prime Minister Nguyen Tan Dung, President Do Van Hau of Petro Vietnam, and President…

The government has asked people to conserve electricity as part of efforts to cope with dwindling electricity reserves, which are forecast to drop to 1.5 million kW in the third and fourth weeks of August.Vice Minister for Trade and Energy Cho Seok presided over a meeting of government and industry …

Chairwoman Choi Eun-young of Hanjin Shipping saw her dream come true when she cut the rope in a ceremony to name a 13,100 TEU container vessel at the Hyundai Heavy shipyard in Ulsan after her late husband and former chairman of the shipping company, Cho Soo-ho. Along with the Hanjin Sooho, they also…