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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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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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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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BAT Korea’s Sacheon factory to adopt solar power facility
BAT Korea is teaming up with LS Electric to introduce solar power generation facilities at its Sacheon factory in South Gyeongsang Province, the tobacco company said Wednesday. As part of its environmental, social and governance strategy, the move will see solar power modules installed in six areas at the site, including at buildings and parking lots that occupy the space that totals 16,000 square meters. Construction work is set to begin in March next year. When completed, the factory is exp
Nov. 25, 2020
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Korean companies make advances on COVID-19 treatment
Celltrion said Wednesday that it has finished administering its pipeline CT-P59 (regdanvimab) to all 327 patients enrolled in the global phase 2 clinical trials held across South Korea, the US, Romania and Spain. Upon news of the company’s imminent application for emergency use of its COVID-19 antibody treatment, shares of Celltrion jumped immediately. This phase 2 clinical trial targets lightly and seriously afflicted COVID-19 patients, and is being carried out to ascertain the safety an
Nov. 25, 2020
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Business groups seek next leaders
South Korea’s major business organizations will see the terms of their incumbent chiefs end early next year, with attention being paid to who their successors will be. The term of Korea Chamber of Commerce and Industry Chairman Park Yong-maan, Korea International Trade Association Chairman Kim Young-ju and Federation of Korean Industries Chairman Huh Chang-soo will end in March. Each business group plans to hold a general meeting early next year to elect its next leader. For the KCCI
Nov. 25, 2020
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More virus cases confirmed at Samsung's mobile research lab
Four more workers at Samsung Electronics Co.'s mobile research lab have tested positive for the novel coronavirus, the company said Wednesday, stoking concerns of group transmissions at the facility. The South Korean tech giant said an additional four virus cases were confirmed at its R5 lab in Suwon, south of Seoul, after it came out earlier this week that three workers were infected with the virus. They all worked on the same floor with an employee who tested positive for COVID-19 on Sunday
Nov. 25, 2020
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[Newsmaker] Kia workers go on strike over little progress in wage talks
Unionized workers at Kia Motors Corp. began a partial strike Wednesday to demand higher wages and bonuses amid the COVID-19 pandemic, the union said. The workers in the morning shift walked away from their production lines at 11:40 a.m. in a four-hour strike while those on the evening shift plan to put down their tools at 8:30 p.m. for another four-hour strike. The union will stage the partial strikes until Friday, after the company and the union failed to narrow differences over wages and pe
Nov. 25, 2020
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Biz sentiment for Dec. weakens amid pandemic: survey
Business sentiment in South Korea turned weak for December due to a recent resurgence of the COVID-19 pandemic, a local think tank said Wednesday. The business survey index (BSI) of the country's top 600 companies by sales came to 98.9 for December, down from 99.5 for November, the Korea Economic Research Institute (KERI) said in a statement. "Business sentiment is expected to remain weak until next year due to uncertainties involving the pandemic. The government's aggressive
Nov. 25, 2020
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Coupang picked as millennials’ favorite shopping mall
Coupang was chosen as the most popular online retail platform by millennials in a survey conducted by the UnivTomorrow Research Laboratory for the Twenties, the firm said Tuesday. The survey also showed that 47.1 percent of millennial Koreans have joined the Rocket Wow Club, Coupang’s membership service. The term “millennials” here refers to those aged 15-34. Coupang was ranked as the favorite online shopping mall with 33.8 percent. Coupang enjoyed higher popularity among yo
Nov. 25, 2020
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Large S. Korean firms sit on huge cash pile amid greater uncertainty
Large companies in South Korea sharply increased their cash reserves over the past year amid increased uncertainty due to the coronavirus pandemic, a corporate tracker said Wednesday. The cumulative free cash flow of 259 listed firms came to 28.1 trillion won ($25.3 billion) as of the end of September, up 163 percent from a year earlier, according to CEO Score. Free cash flow refers to cash a business generates after accounting for capital expenditures and taxes. Free cash flow indicates a com
Nov. 25, 2020
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3 killed in Posco plant explosion
Three people were killed in an explosion that occurred at a plant operated by South Korea‘s top steelmaker, Posco, on Tuesday, fire officials said. The incident took place at around 4 p.m. with a roaring sound at its plant in Gwangyang, 420 kilometers southwest of Seoul, involving a blaze that was put out in about 20 minutes, according to the officials. Authorities said the explosion appears to have started near a furnace while workers were handling high-pressure gas, adding that they
Nov. 24, 2020
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LS Group appoints third-generation heirs as CEOs
LS Group has kicked off a new era of management by promoting third-generation successors as CEOs. In the annual reshuffle conducted during a board meeting Tuesday, LS Group promoted Yesco Holdings Vice President Koo Bon-hyuk to president and CEO. LS Mtron Vice President and Chief Operating Officer Koo Bon-kyu was promoted to CEO. “LS Group retained CEOs of major affiliates including LS Cable & System, LS Electric and LS-Nikko Copper for the stability of the organization but appoi
Nov. 24, 2020
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GE to supply HA gas turbine for Korea’s Naepo District Heating Plant
GE said Tuesday it has clinched a deal to supply advanced gas equipment to the Naepo District Heating Plant, a regional heating supply system for the Naepo new town in South Chungcheong Province. GE said that per this deal, it will be equipping the plant with 7HA.02 gas turbine technology, which will provide approximately 500 megawatts to the national grid -- the equivalent output needed to power some 125,000 South Korean homes. It will also provide steam for district heating for more than 100
Nov. 24, 2020
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Which COVID-19 vaccines will Korea aim for?
With countries scurrying to secure sufficient COVID-19 vaccines being developed by leading global pharmaceutical firms, attention is paid to the pros and cons of each, in terms of their efficacy, affordability and distribution conditions. While Pfizer and Moderna boast average efficacy rates of nearly 95 percent, their mRNA vaccines are expensive and require temperatures of between minus 20 degrees Celsius and minus 70 degrees Celsius for storage and delivery. They have put $15 to $25 price tag
Nov. 24, 2020
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Experts share insight on US investment at AmCham seminar
Representatives from the Korean and US governments and industries joined to provide their insights on key factors that Korean companies should consider when investing in the US, at the Doing Business in Korea Seminar 2020, its second iteration, held in Seoul on Tuesday. The seminar was jointly hosted by the American Chamber of Commerce in Korea and the Korea International Trade Association. It also covered the impact of the US presidential election on investment opportunities abroad. In his
Nov. 24, 2020
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[From the Scene] Drones the highlight of DX Korea defense expo
GOYANG, Gyeonggi Province -- From Iraqi commander to Filipino admiral, the 4,000-square-meter hall was packed with high-ranking military officials wandering around some 200 booths where state-of-the-art weapons and systems were displayed by global defense companies from about 20 countries around the world. At DX Korea 2020 -- a military expo held at Kintex in Goyang, Gyeonggi Province, just northwest of Seoul, on Nov. 18 -- Korean Army officials were greeted by public relations officials, ready
Nov. 24, 2020
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LS Cable & System to supply high voltage cables to Orsted
LS Cable & System said Tuesday that it has inked a five-year contract with Danish energy firm Orsted to supply high voltage export cables for offshore wind farms. Though the exact size of the deal is unknown, it is estimated at hundreds of millions of dollars, according to industry sources. LS Cable & System has participated in multiple offshore wind projects with Orsted. Previously, it supplied cables to the world’s largest offshore wind farm, Hornsea One and Two, in England.
Nov. 24, 2020
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Orsted pledges opportunities for Korean offshore wind industry
Danish energy firm Orsted on Tuesday held a forum to explain how its 1.6-gigawatt offshore wind farm project to be built in the waters off Incheon can contribute to South Korea’s infant offshore wind power industry and the country’s ambitious green targets. At the Orsted 2020 Offshore Wind Industry Promotion Forum held at Conrad Seoul, in Yeouido, western Seoul, Orsted Asia-Pacific President Matthias Bausenwein said that the Incheon offshore wind project will offer massive opport
Nov. 24, 2020
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Posco’s environmental activities recognized by Boston College’s journal
Posco, South Korea’s leading steelmaker, has been recognized for its environmental activities in a recent journal published by the Boston College Center for Corporate Citizenship, the company said Tuesday. “Posco’s efforts to clean and recover our planet’s oceans, as well as cooperate with steel industry on blue carbon, places it at the forefront in the battle against climate change,” the journal said. The journal illustrated Posco’s Clean Ocean Volunteer
Nov. 24, 2020
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SK to invest W2.1tr in local infra project by 2025
A consortium of two SK Group affiliates will invest 2.1 trillion won ($1.9 billion) in data centers and a startup cluster in South Korea's southwest industrial complex by 2025, the transport ministry said Tuesday. The consortium of SK E&S Co. and SK broadband Co. will invest 2 trillion won to build eight data centers in the Saemangeum industrial complex by 2025, the Ministry of Land, Infrastructure and Transport said in a statement. It said the companies aim to double the number of data ce
Nov. 24, 2020
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Daewoo Shipbuilding develops AI-based welding quality tester
Daewoo Shipbuilding & Marine Engineering Co. said Tuesday it has developed an artificial intelligence (AI) welding quality monitoring robot for the first time in the shipbuilding industry. The robot inspects the welded parts of ships and offshore plants with a 3-D modeling program and carries out automated welding quality tests using AI technologies, according to Daewoo Shipbuilding. Shipbuilders usually inspect the quality of the welded parts of ships and offshore plants by taking pictu
Nov. 24, 2020
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Korea Shipbuilding wins nod for SOFC power system from DNV-GL
Korea Shipbuilding & Offshore Engineering Co. said Tuesday it has obtained an approval for the design of a fuel cell-based power system for ships from DNV GL, a Norwegian-German ship quality assurance company. The power system based on the solid oxide fuel cells (SOFCs), energy conversion devices that generate electricity will substitute some part of 3 megawatt power-generating engines to be mounted on A-max oil tankers, Korea Shipbuilding said. The A-Max tankers refer to 85,000 to 125,0
Nov. 24, 2020