Most Popular
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Can Jennie break the K-pop solo artist slump?
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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Yoon honors veterans of Korean War in trip to Philippines
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20 minors registered as CEOs making over 100 million won
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Netflix, streaming platforms come under fire for loose ratings
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Nexon founder Kim donates W10b to child hospital
Nexon founder Kim Jung-ju has pledged to donate 10 billion won ($9 million) for the construction of children’s hospitals, making good on his promise to give back to society. The 52-year-old chief of NXC, the holding company of South Korean gaming giant Nexon, has delivered half of the money -- 2.5 billon each -- to Daejeon Chungnam Public Children’s Rehabilitation Hospital and Nexon Children’s Palliative Care Center at Seoul National University Hospital, according to local me
Jan. 27, 2021
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Wireless earphone boom gives boost to LG, Samsung’s micro battery biz
As AirPods and Galaxy Buds become ever more popular, the demand for micro batteries has spiked, benefiting South Korean battery manufactures LG Energy Solution and Samsung SDI. According to Counterpoint Research data, the size of the global wireless earphone market is estimated to have reached 220 million units last year from 120 million units from a year prior. Accordingly, the global micro battery market is estimated to have enjoyed a 90 percent growth, a major boon for LG Energy Solution&
Jan. 27, 2021
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Samsung Electro-Mechanics shifts to profits in Q4
Samsung Electro-Mechanics Co., a major electronics components maker in South Korea, on Wednesday said its fourth-quarter net profit in 2020 swung to the black from a year earlier on the back of increased sales of its products amid the growth of 5G and automotive sectors. The Samsung Group affiliate reported a net profit of 204.9 billion won ($185.4 million) for the October-December period, swinging from a loss of 21.1 billion won a year earlier. The company said in a regulatory filing that it
Jan. 27, 2021
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[Earnings roundup] LG Chem breaks earnings records on battery boom
LG Chem, LG Display, Kia and a score of other companies on Wednesday released business results from the final quarter of 2020, summing up a year hit hard by the infectious disease and restrained consumer sentiment. Despite the unfavorable market conditions, some managed to report surprisingly strong earnings in the face of adversity. LG Chem breaks record Strong battery sales pushed revenues of LG Chem to a record high in 2020. The country’s leading chemical company reported
Jan. 27, 2021
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Samsung pays out over W77.7b in incentives to chip partners in 2020
Samsung Electronics Co. said Wednesday it paid out more than 77.7 billion won ($70 million) in incentives to its semiconductor partner companies last year as the South Korean tech giant tries to build up a healthy ecosystem for the local chip industry. The world's largest memory chipmaker said it gave incentives worth 41.19 billion won to some 23,000 workers at its 289 chip business partners in the second half of 2020. Including its first half incentives worth 36.53 billion won, the company's
Jan. 27, 2021
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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
Jan. 27, 2021
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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
Jan. 27, 2021
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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
Jan. 27, 2021
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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
Jan. 26, 2021
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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
Jan. 26, 2021
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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
Jan. 26, 2021
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Power generators to bleed W1.3tr in 2021 due to anti-coal drive
South Korea’s state power companies are projected to register 1.3 trillion won ($1.17 billion) in combined losses this year due to the nation’s anti-coal drive and low electricity prices. According to budget plans submitted by five subsidiaries of Korea Power Corp. on Tuesday, the Korea South-East Power, Korea Midland Power, Korea Southern Power, Korea East-West Power and Korea Western Power are expected to record net losses of between 230.8 billion won and 350 billion won. The b
Jan. 26, 2021
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Korean defense industry set to enjoy robust 2021
South Korean defense companies enjoyed a solid performance last year despite complications from the pandemic and are expected to continue their momentum this year, according to market tracker FnGuide on Tuesday. Last year, five major local defense firms -- Hanwha Aerospace, LIG Nex1, Korea Aerospace Industries, Hyundai Rotem and Hanwha Systems -- were estimated to have logged sales similar or slightly lower than those of a year prior, as the coronavirus prevented them from landing new contra
Jan. 26, 2021
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Hyundai Motor marks 41% growth in Q4 profits
Hyundai Motor saw its operating profit soar by over 40 percent in the fourth quarter last year despite the COVID-19 market fallout, on the back of new product launches and robust domestic sales, the company said Tuesday. The carmaker achieved 1.64 trillion won ($1.49 billion) in operating profit from October to December last year, up 40.9 percent from the 1.24 trillion won a year earlier. Sales for the given period stood at 29.24 trillion won, up 5.1 percent on-year. The overall yearly figur
Jan. 26, 2021
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Pfizer says supply reduction temporary, won't affect Korea
Pfizer-BioNTech vaccine’s temporary supply reduction in Europe has sparked worries for a possible delay in shipments here, but Pfizer Korea said Tuesday that Korea will suffer no such setback. “For the doses Pfizer Korea has signed with the South Korean government, there appears to be no problem with the supply,” a Pfizer Korea official told The Korea Herald. Pfizer and BioNTech announced via press release dated Jan. 15, that the companies have decided to scale-up the manufa
Jan. 26, 2021
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Samsung BioLogics 2020 net profit up 18.8% on increased sales
Samsung BioLogics, a biopharmaceutical unit of South Korea's top conglomerate Samsung Group, said Tuesday its net income increased 18.8 percent on-year in 2020 on the back of improved factory utilization and increased sales. The company's net profit reached 241 billion won ($217.8 million) in 2020, compared with a net income of 203 billion won a year earlier, the company said in a regulatory filing. Operating income reached 292.8 billion won last year, compared with 91.7 billion a year earlier
Jan. 26, 2021
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Samsung Biologics Q4 net income down 54.3% to W96.2b
Samsung Biologics Co. on Tuesday reported its fourth-quarter net profit of 96.2 billion won ($87 million), down 54.3 percent from a year earlier. The company said in a regulatory filing that operating income for the October-December period fell 13.4 percent on-year to 92.6 billion won. Sales increased 19.8 percent to 375.3 billion won. (Yonhap)
Jan. 26, 2021
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Biz sentiment edges up for Feb. on eased uncertainty: poll
South Korea's business sentiment inched up for February from a month earlier on decreased economic uncertainty, a poll showed Tuesday. The business survey index (BSI) of the country's top 600 companies by sales reached 96.6 for next month, up 4.9 points from January, the Korea Economic Research Institute (KERI) said in a statement. A reading below 100 means pessimists outnumber optimists, while a figure above the benchmark means the opposite. KERI said the February confidence got a boost from
Jan. 26, 2021
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Imprisoned Samsung heir apologizes to employees, asks them to keep up their work
Lee Jae-yong, the de facto head of Samsung Group, has expressed an apology to his employees following his imprisonment as he asked workers to maintain their work despite his absence, officials here said Tuesday. Lee was sentenced to 2 1/2 years in prison by the Seoul High Court on Jan. 18 in a retrial of a bribery case involving former President Park Geun-hye. The vice chairman of Samsung Electronics Co. was put behind bars again less than three years after he was allowed to walk free. In a me
Jan. 26, 2021
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7 steelmakers fined W300b over price collusion
South Korea's antitrust regulator said Tuesday it has decided to fine seven steelmakers a combined 300 billion won ($272 million) for colluding to fix the purchase price of steel scrap. The country's No. 2 steelmaker Hyundai Steel Co., its smaller rival Dongkuk Steel Mill Co. and five other steelmakers rigged prices and timing to buy the key material between 2010 and 2018, according to the Korea Fair Trade Commission (KFTC). It marked the fourth-largest amount of fines levied by the regulator
Jan. 26, 2021