Han Jae-beom

1 month ago | pulse.mk.co.kr | Chu Dong-hun |Han Jae-beom |Han Yubin

South Korea’s oil refining, petrochemical, and battery companies are expected to face a huge setback in their businesses due to the political aftermath of the presidential impeachment, which has halted industry support policies. According to industry sources, the government’s planned announcements on energy and industrial restructuring have been pushed back following the impeachment and a snap presidential election set for June 3.

1 month ago | pulse.mk.co.kr | Han Jae-beom |Han Yubin

Ulsan Gas Power Solution (UGPS), a subsidiary of SK Gas Co., is expanding its presence with the commercial operations of world’s first liquefied natural gas (LNG) and liquefied petroleum gas (LPG) combined cycle power plant in Ulsan, a city in the southeast of South Korea. Since going into full-scale commercial operations in December 2024, the plant has been capable of generating 1.2 gigawatts (GW) of electricity annually, which is enough to supply power to about 2.8 million households.

1 month ago | pulse.mk.co.kr | Han Jae-beom |Han Yubin

Six out of 10 companies in South Korea have confirmed hiring plans for this year, the lowest level since 2021, a survey showed on Thursday. According to a survey conducted by the Korea Enterprises Federation (KEF) on 500 companies with 100 or more employees, only 60.8 percent of the companies said they plan to hire new employees this year. The survey showed that 22.4 percent remained uncertain about hiring, and 16.8 percent had no recruitment plans for this year.

2 months ago | pulse.mk.co.kr | Han Jae-beom |Han Yubin

Self-employed businesses in South Korea are facing financial hardships amid the continued economic downturn. According to a survey conducted by the Federation of Korean Industries on Tuesday on 500 self-employed workers, 72.6 percent said that their sales have plunged in 2024 from a year ago. The average decline was 12.8 percent. Seven out of 10 self-employed businesses also said that their net profits declined by an average of 13.3 percent in 2024 from a year ago.

2 months ago | pulse.mk.co.kr | Han Jae-beom |Chung Seung-hwan |Han Yubin

The chairman of South Korea’s largest business lobby group will serve a second term. Federation of Korean Industries (FKI), whose board is made up of the chiefs of the country’s conglomerates, confirmed Ryu Jin as its 40th chairman during its annual general meeting on Thursday. His second term will end in February 2027, and Ryu also serves as the chairman of Poongsan Group. In his inaugural speech, Ryu painted a dire picture of the country’s economy.