Pets and COVID-19: What owners should know

A kitten became the first pet to be confirmed infected with the novel coronavirus in South Korea on Sunday. The authorities tested three cats -- a mother and her two kittens -- at a prayer house in Jinju, South Gyeongsang Province, after both of their owners were diagnosed with the disease and had to be taken elsewhere for care. The kitten is now at a pet hotel and being cared for by an animal protection agency, alongside its mother and littermate, an Agriculture Ministry official told

TechnologyJan. 27, 2021

Six best wines to buy for Lunar New Year

Distiller HiteJinro has released a wide range of wine gift sets ahead of the Lunar New Year holiday season. The new range includes bottles from internationally renowned wineries such as Cambria, Sterling and Tarapaca as well as Marques de Riscal and Taittinger. From best-value bottles to limited editions, the gift sets range in price from 50,000 won ($42.25) to 1 million won. Hailing from multiple countries with different tastes, they make for great gifts to loved ones during Seollal, the comp

ConsumerJan. 27, 2021

LG Electronics wins prestigious TV tech award

LG Electronics Inc. said Wednesday it has won a prestigious TV technology and engineering award in the United States for its high-end OLED TV as the South Korean tech giant tries to expand its presence in the global TV market. LG said it has been named one of the recipients at the 72nd Annual Technology & Engineering Emmy Awards organized by the US National Academy of Television Arts & Sciences (NATAS). The Technology & Engineering Emmy Awards honor those who contributed to technic

IndustryJan. 27, 2021

KT tests standalone 5G on commercial network

KT Corp., a major South Korean telecom operator, said Wednesday it has started testing standalone 5G on its commercial network in its latest push for 5G technology. Currently, South Korean mobile carriers operate the non-standalone version of the latest generation network, requiring support from the previous 4G LTE network. The standalone version has benefits as it solely uses the 5G network, leading to decreased latency and improved battery life for devices, according to KT. While local mobi

TechnologyJan. 27, 2021

Seoul stocks tread water ahead of US Fed meeting

South Korean stocks opened nearly flat Wednesday as investors waited for the results of the US Federal Reserve's policy meeting. The benchmark Korea Composite Stock Price Index fell 1.4 points, or 0.04 percent, to 3,138.91 in the first 15 minutes of trading. Market bellwether Samsung Electronics lost 0.35 percent, while No. 2 chipmaker SK hynix shed 1.16 percent. Leading chemical firm LG Chem moved down 2.2 percent, but rechargeable battery maker Samsung SDI climbed 0.25 percent. Pharmaceuti

MarketJan. 27, 2021

Samsung's health tracking app to be available in 31 more countries

Samsung Electronics Co. said Wednesday its fitness app with advanced health tracking features will soon be available in 31 new countries as the South Korean tech giant tries to expand its health service amid the pandemic. The world's largest smartphone maker said the Samsung Health Monitor app received a Conformity to European (CE) marking in December 2020 and will be allowed to use in 28 European countries. A CE marking is given when a product meets European Union safety, health and environme

IndustryJan. 27, 2021

State pension fund earns big from equity investments in 2020

South Korea's national pension fund earned nearly 58 trillion won ($52.6 billion) from stock investments in 2020 thanks to the bullish stock market, data showed Wednesday. As of Friday, the National Pension Service (NPS) held 181.3 trillion won worth of shares in 275 companies, of which it owns 5 percent or more, according to the data from corporate tracker CEO Score The amount was up about 47 percent, or 57.7 trillion won, from the start of last year. The bulk of last year's gains came from

EconomyJan. 27, 2021

LG Display swings to net profit in Q4 on increased OLED panel sales

LG Display Co., a major display panel maker in South Korea, on Wednesday said it shifted to a net profit in the fourth quarter of 2020, on the back of increased demand of its panels for IT products and sales of OLED displays amid the pandemic-induced stay-at-home trend. LG Display reported a net profit of 621 billion won ($561.2 million) for the October-December period, swinging from a loss of 1.81 trillion won a year earlier. Operating income for the fourth quarter was 685.5 billion won, comp

IndustryJan. 27, 2021

Foreign IBs raise S. Korea's 2021 growth outlook

Several foreign investment banks (IBs) have revised up their forecasts for South Korea's 2021 economic growth following the economy's relatively good performance last year, a report showed Wednesday. Out of six foreign IBs and one research institute that published reports on Asia's fourth-largest economy Tuesday, three upgraded their growth outlooks by 0.1 to 0.3 percentage point, according to the report by the Korea Center for International Finance. These institutions predict the South Korean

EconomyJan. 27, 2021

Corporate direct financing gains 10.8% in 2020 amid pandemic

South Korea's corporate direct financing gained 10.8 percent on year in 2020 as the coronavirus pandemic prompted more companies to tap the bond market to raise funds, data showed Wednesday. Local companies raised a combined 194.4 trillion won ($175.6 billion) by selling stocks and bonds last year, up 18.9 trillion won from 2019, according to the data from the Financial Supervisory Service (FSS). Corporate stock sales more than doubled to 10.9 trillion won, with the value of initial public off

EconomyJan. 27, 2021

S. Korea's consumer sentiment improves in January

South Korea's consumer sentiment improved in January as a third wave of coronavirus infections showed signs of slowing down amid hopes for vaccine rollouts, central bank data showed Wednesday. The composite consumer sentiment index (CCSI) came in at 95.4 for January, up 4.2 points from the previous month, according to the data from the Bank of Korea (BOK). A reading below 100 means pessimists outnumber optimists. The latest reading marks the first on-month gain following a drop in December, w

EconomyJan. 27, 2021

IMF raises growth outlook for S. Korea to 3.1% this year

The International Monetary Fund has raised its growth outlook for South Korea this year to 3.1 percent from the earlier figure of 2.9 percent estimated in October last year, the Ministry of Economy and Finance said Tuesday. The nation’s economic growth projection improved largely thanks to the government’s aggressive policy responses to the COVID-19 crisis, including economic stimulus packages as well as strict quarantine measures, according to a report released by the ministry on

EconomyJan. 26, 2021

Philip Morris Korea named 'top employer' in Asia Pacific

Philip Morris Korea Inc. has been certified as the ‘Top Employer Asia Pacific 2021’ for its ‘people-centric’ HR philosophy and management amid the COVID-19 pandemic, the company said Tuesday. The South Korean unit of the global cigarette and tobacco manufacturing firm also bagged the ‘Top Employer South Korea 2021’ prize from Top Employers Institute, while winning the honor for the Asia Pacific region for two years in a row. Praveen Upadhyay, Philip Morris

ConsumerJan. 26, 2021

SKC launches first overseas copper foil plant in Malaysia

South Korean chemicals maker SKC said Tuesday it will establish its first overseas production base for copper foils in Malaysia and that the factory would be powered by 100 percent renewable energy sources. According to the company, its copper foil subsidiary SK Nexilis will invest 650 billion won ($587.4 million) and construct a copper foil plant with an annual production capacity of 44,000 metric tons at Kota Kinabalu Industrial Park in the state of Sabah. “After breaking ground in

IndustryJan. 26, 2021

Samsung Biologics joins W1tr revenue club, after just 9 years

Samsung Biologics joined the club of companies making more than 1 trillion won in revenue in 2020, just nine years after its founding. According to the company’s fourth quarter earnings report made Tuesday, Samsung Biologics’ full-year revenue increased 66 percent on-year in 2020, marking 1.16 trillion won ($1 billion). The previous year, Samsung Biologics made 463 billion won in revenue. Its operating profit also rose 12 percent on-year to 292.8 billion on, from the previous ye

IndustryJan. 26, 2021

Food delivery services cash in on eat-at-home trend　

Total payments made on food delivery platforms Baedal Minjok and Yogiyo jumped 75 percent on-year in 2020 to reach a whopping 12.2 trillion won ($11 billion), according to retail market data tracker Wiseapp on Tuesday. The stunning growth is attributed to strong demand for food delivery services in line with the South Korean government’s strict social distancing measures and lockdowns to slow down the spread of the coronavirus pandemic. The payment volume on the two platforms stood at

MarketJan. 26, 2021

S. Korean products sweep 101 awards at CES 2021

A total of 101 products from South Korean companies were awarded at this year’s CES, taking 26 percent of the honors up for grabs, according to the Korea International Trade Association, Tuesday. In the most coveted Best of Innovation Awards, which recognized 27 items, seven local products took home prizes, up from six a year earlier. By category, South Korea grabbed 13 awards for health and wellness products, six for smart home solutions and five for sustainability. “CES 2021

TechnologyJan. 26, 2021

Retail investors push Kosdaq above 1,000 for first time in 20 years

South Korea’s tech-heavy Kosdaq rose above 1,000 points Tuesday for the first time in 20 years, before wiping out earlier gains in the afternoon. The secondary index inched up as much as 8.10 points to 1,007.40 points in the morning, for the first time since Sept. 14, 2000, then turned negative to close at 994.00 points, 0.53 percent lower than the previous day. The Kosdaq began at 1,000 points on July 1, 1996 and rose as high as 2834.40 points on March 10, 2000 before plummeting to 99

MarketJan. 26, 2021

S. Korea to further expand 5G infrastructure

South Korea will increase the coverage of the next-generation mobile networks, dubbed as 5G, to 85 cities across the country this year, from the current seven major cities, the Ministry of Science and ICT said. The ministry’s plan, unveiled Tuesday, also include an expanded support for local firms to transition to the ultra-fast networks, investments in research and development of mobile edge computing, a key component in driving the commercial use of 5G in areas such as virtual reality

TechnologyJan. 26, 2021

Game, app, VR as medicine?

A video game treats children with attention deficit hyperactivity disorders, helping them build self-control and concentration. Adults with specific phobias are prescribed to virtual reality programs designed to help them face their fears and train their minds. Games are no longer just fun stress relievers. They are rising as next-generation treatments. According to a session at CES this month, digital therapeutics, or medical software in the form of games, mobile applications, virtual rea

IndustryJan. 26, 2021