Stay updated with breaking news from Std Hyundai. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Hyundai Oilbank was informed last October of the Ministry of Environment's plan to fine it 150.9 billion won ($122 million) for its alleged illegal misuse of wastewater, according to the oil refiner's parent company HD Hyundai, Tuesday. The size of the fine is larger than any other penalties that have been imposed on violators of environmental laws in Korea.
LAS VEGAS - Korea Shipbuilding & Offshore Engineering (KSOE), an HD Hyundai subsidiary supervising its three shipbuilding affiliates, signed a memorandum of understanding (MOU) with the American Bureau of Shipping (ABS), Friday (local time), to develop automatic engines and safety control systems for unmanned vessels. The signing ceremony was held on the sidelines of the 2023 Consumer Electronics Show (CES) in Las Vegas.
LAS VEGAS - Top executives and heirs of family-controlled Korean conglomerates took advantage of the 2023 Consumer Electronics Show (CES) to expand their personal networks and seek the new growth engines for their companies. Making their way through the crowds in the 230,000 square meters of exhibition space at the Las Vegas Convention Center, they did not just promote technologies and products of their own companies at the four-day tech show, but also paid visits to the various exhibition booths of other Korean firms.
Hanwha Group participated in a preliminary bid to acquire a controlling 47.8 percent stake in STX Heavy Industries, a manufacturer of engines for ships, from a local private equity firm, Pinetree Partners, according to industry officials, Tuesday. The latest move by the nation's seventh-largest conglomerate is expected to intensify competition between Hanwha and HD Hyundai in the global shipbuilding market.
Hyundai Heavy Industries Group changed its name to HD Hyundai, the same name that has been used for the group's holding firm since August, the shipbuilding group said Monday. The 50-year-old group also held a ceremony the same day to declare its new vision at Global R&D Center (GRC) in Seongnam, Gyeonggi Province. The 20-story building is the group's new headquarters, which replaces the previous one in Jongno District in downtown Seoul.