Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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LG Display to showcase 48-inch flexible sound-making display at CES 2021
LG Display Co., a major display panel maker in South Korea, said Sunday it will showcase a 48-inch flexible display that can generate sound without speakers at the world's largest tech expo next week. LG Display said its 48-inch bendable cinematic sound OLED (CSO) will make its debut at the Consumer Electronics Show (CES) 2021, which will be held online from Jan. 11 to 14. The world's top large-size OLED panel maker said the latest product is optimized for gaming. "Its paper-thin screen
Jan. 3, 2021
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S. Korea’s EV market poised for take-off in 2021
For South Korea’s electric vehicle business, 2020 apparently served as a turning point with global players such as Tesla on the up and up and the ongoing COVID-19 pandemic raising the alarm about environmental pollution by internal combustion engines. In the new year, this growing market is anticipated to take long strides on the back of prolonged government subsidies and carmakers’ paradigm shift towards ecofriendly vehicles. The number of newly registered passenger EVs here came
Jan. 3, 2021
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Bendable, high-definition displays gearing up for 2021
Displays that are interactive, transparent, bendable and emit sound are no longer the product of science fiction. In 2021, Korean display companies LG Display and Samsung Display are seeking to attract global clients with innovations in form factor and display performance, aiming to capitalize on the consumer electronics boom on the back of COVID-19. One thing to note is the players, respectively known for their expertise in big displays and small displays -- LG for big organic light-em
Jan. 3, 2021
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Pandemic-hit oil refiners' losses estimated at W5tr in 2020
The coronavirus pandemic is likely to have come as a big draw on South Korean oil refiners last year as their low refining margins ate into their profitability, industry sources said Sunday. Whipsawed by weak oil prices and sluggish refining margins, industry leader SK Innovation Co. and three other players are projected to have posted a combined net loss of more than 5 trillion won ($4.6 billion) last year. The situation didn't improve much in the third quarter of last year despite rising dem
Jan. 3, 2021
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Top Afreeca TV streamer made W1.7m per hour in Dec.
AfreecaTV streamers reaped donations of worth 41 billion won ($37.6 million) in December, with the highest-earner recording 452 million won, equivalent to an hourly wage of 1.7 million won. According to Poong Today Sunday, which tracks donations made on the country’s most popular online streaming platform, viewers donated more than 380.5 million “star balloons” in total last month. On AfreecaTV, fans can send streamers bundles of star balloons, a digital currency that costs
Jan. 3, 2021
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S. Korea to invest nearly W6tr into science, ICT R&D in 2021
South Korea said Sunday it will spend 5.8 trillion won ($5.3 billion) on science and information and communication technology (ICT) research this year as the country fosters new tech industries under its digital New Deal drive and targets going carbon neutral. The earmarked amount is a 12 percent rise from 2020 and focuses on basic scientific research as well as new technologies, such as artificial intelligence (AI) and 6G wireless networks. The ministry said it has set aside 1.8 trillion won
Jan. 3, 2021
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EV battery makers set to report robust Q4 results on strong demand
South Korea's three electric vehicle (EV) battery makers are expected to report robust or improved fourth-quarter earnings results on growing demand for electrified vehicles, analysts said Sunday. LG Energy Solutions Ltd., SK Innovation Co. and Samsung SDI Co. likely performed well in the October-December period as carmakers are adding more battery-powered models to their lineups due to emissions restrictions, they said. The three companies plan to release their business results for the fourth
Jan. 3, 2021
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Samsung Electronics Q4 earnings estimate cut on weak dollar, virus resurgence
Samsung Electronics Co., the world's largest memory chip maker, is expected to report a smaller-than-earlier operating income estimate due to the weakness of the US dollar, industry sources said Sunday. According to the sources, Samsung, also the world's largest smartphone vendor, is likely to report an operating income of 9.74 trillion won ($8.95 billion) during the fourth quarter of last year, up 36.8 percent from a year earlier. But the latest estimate is slightly lower than the 10.16 trill
Jan. 3, 2021
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S. Korea's antitrust watchdog tipped to complete review of Daewoo Shipbuilding-KSOE merger in Q1
South Korea's antitrust watchdog is likely to complete the review of the merger between two South Korean shipbuilding giants during the first quarter of the year, industry sources said Sunday, possibly paving the way for the creation of the world's largest shipyard. In March 2019, Hyundai Heavy Industries signed a deal to purchase a 55.72 percent stake in Daewoo Shipbuilding. The deal would lead to the creation of the world's biggest shipbuilder with a global market share of around 20 percent.
Jan. 3, 2021
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[New Year Special] What will lead Korea’s economic recovery in 2021?
With 2020 behind us, the question now is what the recovery will look like for Korea Inc. With COVID-19 still raging here and abroad, and the prospects for vaccination in South Korea appearing hazy, optimism and pessimism coexist. But not much will change, economy-wise, for the next two quarters at least unless vaccines become easily accessible, according to a recent report from global consulting firm Deloitte. Seoul-based consulting firm KPMG Samjong offers positive outlooks for sectors r
Jan. 1, 2021
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Top 8 purchases of 2020
We are what we buy. Our purchases reflect our needs and desires, formed by the circumstances and trends of the time. If before, people spent money on goods that would enhance their exteriors, such as garments and cosmetics, in pandemic-ridden 2020, confined to homes for the most part and always hidden behind masks when outdoors, many opted to buy items that would enrich their lives at home instead. In this listicle, we decided to pay tribute to the buys that made this weary year more bearable.
Dec. 31, 2020
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Bio sector output up 16.2% at over W12tr in 2019: data
Output in South Korea's bio industry increased 16.2 percent in 2019 from the previous year on the back of robust growth of outsourced business, industry data showed Thursday. The value of output in the local bio industry was estimated at 12.32 trillion won ($11.36 billion) last year, compared with 10.48 trillion won a year earlier, according to the data from the Korea Biotechnology Industry Organization. Noticeably, the value of outsourced services that include contract manufacturing organizat
Dec. 31, 2020
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Businesses’ 2021 wish: Clear line between politics and economy
Deregulation is what South Korean business entities want badly for the new year, with many of them raising concerns about a slew of legislation that they say will constrain business activities. According to New Year’s messages from heads of the country’s major business lobby organizations, Korean companies are calling on the government to cut them some slack in operating their businesses in the harsh environment that is expected to unfold amid the COVID-19 pandemic throughout 202
Dec. 31, 2020
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Cash-strapped Doosan Heavy improves financial health via self-rescue plan
Cash-strapped Doosan Heavy Industries & Construction Co. has improved its financial health this year by selling new shares and assets and receiving financial help from its holding company Doosan Corp. and key shareholders, a local rating appraiser said Thursday. "Doosan Heavy has been improving its financial status and reducing its debts on the back of Doosan Group's self-rescue plan," NICE Investors Service said in its report. The rating agency retained Doosan Heavy's long-term
Dec. 31, 2020
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LG Energy Solution ranks second in EV battery market in Jan.-Nov. period
South Korean battery maker LG Energy Solution Ltd. was the second-biggest supplier of electric vehicle (EV) batteries in the first 11 months of the year following China's CATL, a market research firm said Thursday. LG Energy Solution, which spun off from LG Chem Ltd. earlier this month, shipped 26.4 gigawatt-hour (GWh) equivalents of EV batteries in the January-November period, accounting for 22.6 percent of the global market, according to the data by SNE Research. China's CATL supplied 24.4 G
Dec. 31, 2020
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Iraq signs $2.625b Faw port contract with Daewoo E&C
Iraq agreed a $2.625 billion deal with South Korea's Daewoo Engineering & Construction on Wednesday to build the first phase at its planned Faw commodities port in the south of the country. Under the contract, signed in Baghdad by representatives of Iraq's transportation ministry and the South Korean company, Daewoo E&C will handle construction work including building fiveberths to unload ships and a yard for containers. (Reuters)
Dec. 30, 2020
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[News Focus] COVID-19 vaccines: What’s coming and when?
South Korea’s COVID-19 vaccine plans are slowly taking shape. Once shrouded in secrecy, the government is no longer holding back in sharing the outcomes of negotiations with individual vaccine firms in securing the doses necessary for the country. As of Wednesday, Korea has signed deals with AstraZeneca, Janssen and Pfizer-BioNTech, and is in close talks with Moderna, on top of the vaccines it is to receive through the global nonprofit COVAX facility. According to what is known through
Dec. 30, 2020
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[Best Brand] Lotte leads digital transformation of duty-free stores
The COVID-19 pandemic has decimated international travel, and duty-free stores have bore a large portion of the brunt. Lotte Duty Free, the No. 1 player in the local market, looked beyond present troubles and embraced contactless and smart shopping as the new normal for the duty-free industry. In an industry first, the company introduced a “smart store” that incorporates digital technologies and minimizes face-to-face contacts between shoppers and clerks. Located on the fi
Dec. 30, 2020
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[Best Brand] GeniRobot’s coding education robot goes global
South Korean education technology company GeniRobot is targeting the global education robot market with its all-in-one coding robot Genibot. Despite growing demand for coding education, the global education robot market -- estimated at $60 billion with a projected annual growth of 24 percent -- lacks suitable products. In just six months after its launch, GeniRobot’s Genibot recorded sales of more than 20,000 units at home and abroad. “GeniRobot is planning an expansion t
Dec. 30, 2020
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[Best Brand] aT adapts to contactless era for global K-Food boom
Even during the COVID-19 pandemic, Korean food continued to captivate the palates of global consumers. As of end-November, exports of Korean agricultural and food products, including kimchi and instant noodles, rose 6.84 percent on-year to $6.8 billion. Behind the growth is the Korea Agro-Fisheries & Food Trade Corp, frequently referred to as aT, a state-run agency tasked with promoting Korean food overseas. With major international food fairs canceled, the company organized online event
Dec. 30, 2020