Most Popular
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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S. Korea, Singapore seal supply chain agreement
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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20 minors registered as CEOs making over 100 million won
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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Korean language teaching expert says demand has outstripped supply
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Conscripting women to lead to 'more babies,' claims military think tank
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Samsung's Chinese chip plant in emergency mode during citywide anti-virus lockdown
Samsung Electronics Co. said Friday its memory chip complex in the Chinese city of Xi'an went into an emergency mode as the Chinese authorities enforced a lockdown to stem the spread of the coronavirus. The South Korean tech giant said the emergency measure has not affected production, as it has been fully utilizing factory workers living in the company's dormitory. "The factory is currently fully operational," a company's official said, adding "We are closely watching the devel
Dec. 24, 2021
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Samsung Lions re-sign free agent catcher Kang Min-ho
The Samsung Lions announced Friday they have re-signed their own free agent catcher Kang Min-ho to a new four-year contract. Kang, 36, will make up to 3.6 billion won ($3 million) in his second straight four-year deal with the Lions. Kang will make 2 billion won in total salary and 1.2 billion won in signing bonus, with another 400 million won available in incentives. One of the top offensive catchers in the Korea Baseball Organization (KBO), Kang batted .291 with 18 homers and 67 RBIs in 123
Dec. 24, 2021
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Kyobo Life fined for letting subsidiaries use trademark for free
South Korea's financial watchdog has ordered Kyobo Life Insurance Co. to pay a fine of 350 million won ($295,000) for letting its subsidiaries use its brand for free, the company said Friday. The Financial Supervisory Service (FSS) also issued warnings to five officials, including a retired employee of the insurer, in connection with the matter, according to the company. Kyobo Life Insurance, No. 3 life insurer in South Korea, was accused of providing undue support to the subsidiaries by letti
Dec. 24, 2021
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SK Bioscience extends manufacturing deal with Novavax through 2022
SK Bioscience Co., a vaccine unit of South Korea's SK Group, said Friday it has extended an agreement to manufacture a component of the US-based biotechnology company Novavax Inc.'s COVID-19 vaccine by one more year. Under the extended agreement, SK Bioscience will reserve additional manufacturing capacity to produce antigen, a key component of NVX-CoV2373 -- Novavax's recombinant protein-based COVID-19 vaccine -- through 2022. Last year, the two sides initially signed the agreement to reserve
Dec. 24, 2021
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Sales of imported commercial cars dip 23% in Nov.
Sales of imported commercial vehicles in South Korea fell 23 percent in November from a year earlier amid the extended COVID-19 pandemic, an industry association said Friday. The number of newly registered imported commercial vehicles declined to 360 units last month from 468 a year ago, the Korea Automobile Importers and Distributors Association (KAIDA) said in a statement. Decreased sales of MAN, Scania, and Mercedes-Benz trucks weighed on the monthly result, KAIDA said. From January to Nov
Dec. 24, 2021
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Despite resistance, carmakers push ahead with used car market entry
The head of a local carmakers’ association said Thursday that the country’s finished carmakers would enter the certified used car market here starting next month, despite resistance from small businesses. Jung Man-ki, chairman of the Korea Automobile Manufacturers Association, said that local carmakers will no longer wait and will prepare to register for business licenses and establish physical spaces to launch their B2C secondhand car businesses. “Although there is no
Dec. 23, 2021
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[Photo News] Fostering women leaders
Ham Young-joo (left), vice chairman of Hana Financial Group, congratulates Hong Hwa-jin, leader of the data & investment division at Hana Bank, who led the first 33 participants for the last six months in the group’s program designed to nurture women leaders.
Dec. 23, 2021
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Doosan to showcase hydrogen, robot innovations at CES 2022
South Korean conglomerate Doosan Group said Thursday it will unveil innovations centered on hydrogen and robotics technologies at the 2022 Consumer Electronics Show. Under the theme “delightful life,” Doosan Group and its major affiliates will showcase their latest innovations at a 450-square-meter booth at the West Hall of the Las Vegas Convention Center from Jan. 5-8, local time. The West Hall is where mobility, auto and self-driving companies are grouped. Doosan Group Chairm
Dec. 23, 2021
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Posco sets new vision with holding company scheme
Aiming to more than triple its corporate value by 2030, Posco Group plans to have its steel business focus on eco-friendliness and global growth, while fostering new growth engines such as materials for rechargeable batteries and hydrogen. The holding company will be llisted, while the steelmaking unit Posco, as well as other corporations to be set up under the holding company will remain unlisted to allow quick decision-making. This is to prevent undermining existing shareholder value and a
Dec. 23, 2021
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AMAXG aims to become global top-tier
Blockchain company AMAXG plans to build a more competitive and convergent blockchain platform next year, declaring it “the year of global culture, environment and technological innovation via evolution into hyperconnected, hyperconverged and hyperintelligent society.” The new platform will unite blockchain-based big data, artificial intelligence, metaverse and non-fungible tokens to preemptively tackle socioeconomic uncertainties. Last month, AMAXG Group chief executive Choi Jeo
Dec. 23, 2021
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Apgujeong regains luster as popular commercial district
The commercial district surrounding Apgujeong Station -- one of South Korea’s richest neighborhoods -- recorded a daily sales average of 13.6 billion won ($11.4 million), the highest in the country, SK Telecom said Thursday. Using its big data analysis platform Geovision, SK Telecom listed the top 100 commercial districts nationwide. Each area’s sales figures were estimated based on credit card transactions, floating population and level of business concentration. The daily float
Dec. 23, 2021
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Govt. to improve regulations for commercial adoption of self-driving cars
The government unveiled a revised road map on improving regulations for self-driving cars Thursday to hasten their commercial adoption starting next year. The road map, confirmed at an interagency government meeting earlier in the day, came as South Korea is expected to see a fast adoption of autonomous driving for commercial vehicles beginning in 2022, starting with the launch of Level 3 self-driving cars -- made for conditional driving automation that requires human intervention. The governm
Dec. 23, 2021
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Hyundai Motor takes robotics tech to center stage at CES
Hyundai Motor Group will present what robotics technology will bring to human life in the future at the upcoming Consumer Electronics Show 2022, in line with its vision of pushing mobility beyond the limits of physical movement, time and space, the automaker said Thursday. Transforming itself from a transportation maker to a smart mobility service provider, Hyundai Motor said the key message of its presentation will include the company’s purpose and direction of expanding robotics techno
Dec. 23, 2021
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China finally greenlights SK hynix’s buyout of Intel NAND biz
Chinese authorities have finally approved SK hynix’s acquisition of Intel’s NAND and SSD business, the company said Wednesday. Though SK hynix and Intel signed the $9 billion deal in October last year, it has been waiting for approval from China for more than a year due to tensions with the US. In the chip industry, to prevent one company from dominating the market, mergers and acquisitions require antitrust approval from the US, the European Union, South Korea, Taiwan, Brazil, t
Dec. 22, 2021
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FTC fines SK Inc. and SK Group Chairman W1.6b over SK Siltron case
South Korea’s antitrust watchdog announced Wednesday that it would fine SK Inc. and SK Group Chairman Chey Tae-won 1.6 billion won ($1.3 million) over allegations that his personal purchase in LG Siltron shares back in 2017 had violated the law. The decision was made a week after Chey had attended the Fair Trade Commission’s full-member session in person. Chey’s attendance was rare as the watchdog does not require the person involved to be present. Chey, in the session, claime
Dec. 22, 2021
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Korea, Vietnam agree to enhance ties on trade, development projects
SEJONG -- South Korea and Vietnam agreed to bolster coordination on trade and development projects during a ministerial meeting in Seoul, Wednesday, the Ministry of Trade, Industry and Energy said. At the meeting, Korea’s Minister of Trade, Industry and Energy Moon Sung-wook signed a memorandum of understanding with Vietnam’s Minister of Industry and Trade Nguyen Hong Dien on urea supply. Under the deal, Korea will import up to 120,000 metric tons of urea from Vietnam per annum ov
Dec. 22, 2021
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'Detox' required for computer chips, EV batteries
The world is full of irony. Electric vehicles, which are supposed to be eco-friendly modes of transportation, are mounted with chips and batteries that generate polluting gases in the manufacturing process. To make semiconductors, harmful gases are required, such as CF4, C2F6, SF6 and NF3. These ozone-destroying greenhouse gases take up to 50,000 years to decompose in the atmosphere, and are far more potent than carbon dioxide, which takes 50-200 years to break down. As calls for environmen
Dec. 22, 2021
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Samsung takes ‘personalization of technology’ as key CES theme
Samsung Electronics Vice Chairman and CEO Han Jong-hee said Thursday that the global tech giant will unveil innovative technologies centered on customization, seamlessness and sustainability at the 2022 Consumer Electronics Show. In his editorial posted on Samsung Newsroom, the head of Samsung Electronics’ device experience division underscored that the “one-size-fits-all” strategy can no longer apply in the consumer electronics market as users are seeking more personalized,
Dec. 22, 2021
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GS Caltex to use oil extracted from plastic waste as clean feedstock
GS Caltex said Wednesday it will utilize oil extracted from plastic waste as a feedstock to manufacture petrochemical products to bolster its environmental, social and governance efforts. According to the South Korean total energy company, it will begin pilot production of petrochemical products with 500,000 tons of plastic waste oil at the firm’s plant located in Yeosu, South Jeolla Province. “If the pilot project proves successful, GS Caltex will review new investments for buil
Dec. 22, 2021
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SsangYong signs MOU with BYD for EV battery development
SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Wednesday it has signed an initial pact with Chinese electric vehicle maker BYD Auto Co. for EV battery development.SsangYong Motor on Tuesday signed a memorandum of understanding with BYD Auto to develop car batteries and produce battery packs for its models, the company said in a statement. "The partnership with BYD will pave the way for the company's plan to transform itself into an EV maker
Dec. 22, 2021