Robert Bosch GmbH, Lennox International and Samsung Electronics are among the industrial firms competing to acquire heating and ventilation assets worth over $6 billion from Johnson Controls International, people familiar with the matter said on Friday. Milwaukee-based Johnson Controls has been working with its advisers to sell its residential and light commercial businesses, including includes a US business and a 60 percent stake in an air-conditioning venture with Japan's Hitachi called

A government-affiliated agency recognized Friday the risks of unsafe work environments on a fetus after employees who worked at Samsung Electronics Co. during their pregnancy claimed their children's congenital diseases should be covered by workplace accident compensation. Following a deliberation process, a committee that oversees the compensation concluded that the cases of three women who worked as operators at the chipmaker should be acknowledged as industrial accidents, the Korea Worke

The New Reform Party, a "big tent” aimed at capturing voters disaffected with the main two parties, has been rattled by another round of internal rift ahead of the April 10 legislative election. The party’s Floor Leader Rep. Yang Hyang-ja on late Thursday pledged to continue supporting the New Reform Party, two days after she hinted at leaving. Yang had expressed disagreement with the list of candidates selected by the other leadership members for the upcoming election, and was

South Korean shares closed slightly lower Friday as investors cashed in gains after the market rallied by more than 2 percent the previous session. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index fell 6.3 points, or 0.23 percent, to close at 2,748.56. Trade volume was moderate at 501.3 million shares worth 11.3 trillion won ($8.42 billion), with gainers outnumbering losers 485 to 381. Foreigners bought a net 665 billion won worth of stocks,

South Korean stocks opened nearly flat Friday after hitting a nearly two-year high the previous session despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index edged down 2.76 points, or 0.1 percent, to 2,752.1 in the first 15 minutes of trading. On Thursday, the main index rallied by more than 2 percent amid growing hopes for US rate cuts in the near future. Overnight, the Dow Jones Industrial Average climbed 0.68 percent to a new high, while the S&P 500 and

A senior US official on Thursday portrayed South Korean companies' reported move to stop selling used semiconductor manufacturing equipment to China as "encouraging," as Washington has been seeking tighter export controls on key technologies amid an intensifying Sino-US rivalry. Alan Estevez, under secretary of commerce for industry and security, made the remarks in his written statement to a hearing of the House Committee on Foreign Affairs, entitled "Countering China on the Worl

Samsung Display Co. said Thursday it will pay out dividends for the first time since its establishment in 2012, a move that will lead its parent company Samsung Electronics Co. to receive about 5.6 trillion won ($4.2 billion) in dividends. At a shareholders' meeting Tuesday, Samsung Display decided to deliver 25,400 won per share in dividends totaling 6.65 trillion won, the company said in a regulatory filing. Samsung Electronics is the top shareholder of Samsung Display with an 84.8 perc

South Korean shares rallied by more than 2 percent Thursday amid growing hopes for US rate cuts in the near future. The local currency also rose sharply against the US dollar. The benchmark Korea Composite Stock Price Index surged 64.72 points, or 2.41 percent, to close at 2,754.86, the highest in nearly two years since April 5, 2022 when the index closed at 2,759.20. Trade volume was heavy at 811.8 million shares worth 13.8 trillion won ($10.4 billion), with gainers outnumbering losers 655 to 2

South Korean stocks opened sharply higher Thursday following record-high finishes on Wall Street afforded by hopes for US rate cuts this year. The benchmark Korea Composite Stock Price Index added 37.38 points, or 1.39 percent, to 2,727.52 in the first 15 minutes of trading. The US Federal Reserve kept its policy rate intact for a fifth consecutive session Wednesday at the 5.25 to 5.50 percent range but signaled as many as three rate cuts within the year. The Dow Jones Industrial Average climbed

The White House announced a plan Wednesday to award Intel Corp. nearly $20 billion in grants and loans, marking the Joe Biden administration's largest funding scheme under its initiative to strengthen domestic semiconductor production. The Department of Commerce has reached a preliminary agreement with Intel to provide up to $8.5 billion in grants and $11 billion in loans under the CHIPS and Science Act, it said, as South Korea's Samsung Electronics Co. and Taiwan Semiconductor Manufac

President Yoon Suk Yeol vowed Wednesday to improve the conditions for family business successions as he lamented local conglomerates' reluctance to grow their value out of fear of having to pay a larger inheritance tax. Yoon made the promise during a special lecture marking the 51st Commerce & Industry Day in front of some 1,000 people, including the chief executives of large family-run conglomerates, such as Samsung Electronics, Hyundai Motor Group and LG Group. "Many companies

Mobile identification cards, such as the driver’s license and the mobile national veteran's registration card, were to start being issued on Samsung Wallet from Wednesday, said the Ministry of Interior and Safety. On Wednesday, the Interior Ministry hosted an open event with Samsung Electronics to publicly announce the introduction of digital ID cards. At the event, Interior Minister Lee Sang-min and Chair Go Jin from the Presidential Committee on the Digital Platform Government demon

President Yoon Suk Yeol (center) and business leaders attend this year's Commerce & Industry Day ceremony held in Seoul on Wednesday. From right: LG Group Chairman Koo Kwang-mo, Hyundai Motor Group Executive Chair Chung Euisun, Samsung Electronics Chairman Lee Jae-yong, Minister for Trade, Industry and Energy Ahn Duk-geun, Yoon, and K Group Chairman Chey Tae-won who doubles as chairman of the Korea Chamber of Commerce and Industry. (Yonhap)

Samsung Electronics Executive President Lee Young-hee, who is in charge of global marketing for mobile devices, poses with South Korean President Yoon Suk Yeol after receiving the Gold Tower Order of Industrial Service Merit in Seoul on Wednesday. Lee is credited for raising the brand value of Samsung. In 2022, she became the first female president at Samsung, apart from members of the founding family. (Yonhap)

South Korean shares closed more than 1 percent higher Wednesday on a rally in top cap Samsung Electronics and before the results of the Federal Reserve's rate-setting meeting. The local currency stayed unchanged against the US dollar. The benchmark Korea Composite Stock Price Index surged 33.97 points, or 1.28 percent, to close at 2,690.14. Trade volume was heavy at 710 million shares worth 12.6 trillion won ($9.3 billion), with gainers outnumbering losers 481 to 380. Foreign investors turn