Seoul, April 27 (IANS) Hanwha Systems Co., the defense solutions arm of Hanwha Group, said on Monday it swung to a net loss in the first quarter from a year earlier, citing substantial equity losses tied to its US shipyard investment.For the three months ended March, the company reported a net loss of 95.75 billion won ($65 million), compared with a net profit of 24.36 billion won a year earlier, reports Yonhap news agency.The decline was largely attributed to increased equity losses from Hanwha…
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Seoul, March 9 (IANS) South Korean companies are seeking responsive measures to cope with soaring international oil prices as turmoil in the Middle East continues, industry sources said on Monday, while the government called for efforts to stabilise domestic fuel prices.Major companies here, including Samsung Electronics Co., SK Group, Hyundai Motor and Hanwha Group, have held emergency meetings over the past few days to monitor the volatility in the global energy market and come up with ways to…
Washington, Dec 23 (IANS) US President Donald Trump has said that South Korea’s Hanwha will work with the US Navy for the construction of new frigate warships as he announced plans to build a new “Trump-class” of battleships.The remarks come as South Korea has sought to deepen shipbuilding cooperation with the United States through its key shipbuilders, including Hanwha Ocean Co, reports Yonhap news agency.”Last week, the Navy announced a brand new class of frigate and they’re going to be workin…