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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First lady’s Dior bag scandal to be at center of Assembly audit
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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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Seoulites celebrate coexistence at Wellness Seoul 2024
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Hyundai Robotics to step into food-tech market with KFC Korea
South Korea's Hyundai Robotics Co. said Friday it has joined hands with fried chicken franchise KFC Korea Co. to automate the chicken cooking process. Under the preliminary deal with KFC Korea, Hyundai Robotics, a unit of global shipbuilding giant Hyundai Heavy Industries Holdings Co. (HHIH), will develop the automation process to cook chickens by using robots. KFC Korea will provide its stores and cooking know-how under the deal. Food Tech applying high-end technologies to the food industr
Oct. 23, 2020
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LG opens showroom of luxury built-in kitchen appliance brand in Europe
LG Electronics Inc. said Friday it has opened a showroom for its luxury built-in kitchen appliance brand in Europe to better expand its presence there. The first European showroom of LG's Signature Kitchen Suite was opened in Milan, Italy, according to the company. The 1,100-square-meter facility is near the Brera District of Milan, a famous area for fashion lovers with its Design Week event. It is the third Signature Kitchen Suite showroom from LG. The other two are in South Korea and the U
Oct. 23, 2020
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[Monitor] More 30-somethings buying apartments in Seoul
According to the Korea Appraisal Board this week, the number of people in their 30s buying apartments in Seoul continued to rise last month. A total of 1,790 transactions involved buyers in their 30s, making up 37.3 percent of the total. Other data has shown a surge in mortgage loans for housing, in step with the trend toward younger people purchasing homes. The Korea Housing Finance Corporation said earlier this month that its flagship “bogeumjari” mortgage loan program designed
Oct. 23, 2020
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LCD helps LG Display turn profit for first time in 7 quarters
LG Display on Thursday posted third-quarter revenue of 6.7 trillion won ($5.9 billion) and an operating profit of 164.4 billion won, marking the company’s first profit in seven quarters. The revenue was a 27 percent increase from the previous quarter. Net profit was 11.1 billion won. Panels for such information technology devices as computers laptops and tablets accounted for 43 percent of the revenue, with TVs at 28 percent and mobile and others at 29 percent. In a conference call th
Oct. 22, 2020
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Antitrust watchdog to review Google's competition violation this year: head
The head of South Korea's fair trade watchdog said Thursday her agency will review one of two ongoing probes into Google Inc.'s market competition violations. Since 2016, the Korea Fair Trade Commission (KFTC) has been investigating Google over allegations that it obstructed local smartphone makers from using operating systems from other rivals. It is also investigating whether Google forced mobile game applications to be only released on its Play store. "The KFTC is currently conductin
Oct. 22, 2020
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South Korean consumers most worried in world over COVID-19: survey
South Korean consumers are more worried about COVID-19 than consumers anywhere else in the world, and are also the biggest users of online food services, according to a survey by customer data analysis firm Dunnhumby. In a survey report released Thursday, titled “Impact COVID-19 has had on customer attitudes and behavior,” Korea was identified as the country with the most worried consumers concerning the COVID-19 outbreak, with respondents saying their personal finances had weakene
Oct. 22, 2020
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Posco International stands at fore on Korea’s food security amid pandemic
Posco International said Thursday it imported 68,000 metric tons of feed wheat from Ukraine, for the first time in South Korea, a move to secure a stable grain supply system for the nation. Of the total, 41,000 tons were imported through the Ukrainian grain terminal invested in by the trading company. The imports were made in partnership with Nonghyup Feed, the largest feed grain importer in Korea. Posco International said this shipment was the first import of feed grain from a overseas grai
Oct. 22, 2020
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‘Remote patient monitoring should become nationwide agenda’
GE Healthcare on Thursday hosted a seminar on how remote patient monitoring will become a new normal in the post-COVID-19 era. The seminar was part of the annual K-Hospital Fair 2020, which was held at Coex in Gangnam, Seoul. COVID-19 has made telemedicine and its related digital technologies a sudden quest in Korea, according to Professor Kim Kyung-hwan of Seoul National University Hospital’s Department of Thoracic and Cardiovascular Surgery speaking at the seminar. These technologie
Oct. 22, 2020
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Merck wins Korea Bioprocessing Excellence Award
Merck has been recognized with the Korea Bioprocessing Excellence Award at the Biologics Manufacturing Korea 2020 event, the company announced Thursday. The event, in its ninth year, annually invites some 400 experts from more than 100 governmental groups, nongovernmental organizations, related businesses and academic institutions to honor them in their respective categories. This year’s event was conducted virtually due to COVID-19. “Merck’s technology was recognized in the
Oct. 22, 2020
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[Monitor] Samsung, Hyundai see global brand value soar
Samsung Electronics ranked fifth in the world in brand value this year with a record value of $62.3 billion, up 2 percent from last year, according to Interbrand’s latest top 100 global brands list on Tuesday. It is the highest position Samsung or any South Korean company has attained since Samsung first made the top 10 in 2012. Hyundai Motor ranked fifth on Interbrand’s top brand value list for global automakers, and was acknowledged for its future mobility endeavors. Hyundai jum
Oct. 22, 2020
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European sales of Samsung Bioepis' 3 biosimilars up 13% in Q3
South Korean drugmaker Samsung Bioepis Co. said Thursday sales of its three biosimilar products in Europe jumped 13 percent on-year during the third quarter of this year. Combined sales of the three autoimmune biosimilars -- Benepali, Flixabi and Imraldi -- came to $279 million in the July-October period, the company said. The company cited a third-quarter earnings report of its US partner Biogen. Samsung Bioepis is a joint venture between Samsung Biologics -- a biopharmaceutical unit of Sou
Oct. 22, 2020
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LG Chem breaks records in Q3 ahead of split-off
LG Chem enjoyed the greatest quarterly revenue and operating profit in its history in the July-September period ahead of its controversial battery business split-off, according to a regulatory filing Wednesday. The South Korean refinery-to-battery firm recorded 7.5 trillion won in revenue ($6.6 billion) in the third quarter, a 8.8 percent increase on-year, while its operating profit jumped 158 percent to 902.1 billion won in the same period. The revenue and operating profit figures would be
Oct. 21, 2020
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[News Analysis] LG Chem to reignite bio biz after battery separation
Many may have forgotten, but LG Chem was once the center of Korean bio innovations -- and it is taking steps to get back in the game where new players Samsung and SK are now making strides. In the latest, groundbreaking announcement for shareholders, LG Chem said it will separate its cash cow battery business and focus on promoting the balanced triangular growth of its petrochemicals, advanced materials and life sciences businesses. Shareholders are noticeably displeased with the company&rsquo
Oct. 21, 2020
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Samsung Biologics' Jan.-Sept. margin surpasses profit for whole of 2019
Samsung Biologics marked an operating profit in the first three quarters of 2020 of more than double its entire yearly performance of 2019, proving it has been undamaged and even buoyed by the COVID-19 pandemic, which has largely slashed earnings across various industries. During the three months of July through September, Samsung biologics made revenue of 274.6 billion won ($242.4 million) and an operating profit of 56.5 billion won, according to the accumulated third quarter report on Wednesd
Oct. 21, 2020
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[From the Scene] Korea’s biggest battery expo invites LG Chem, Samsung SDI, SK Innovation
South Korea’s biggest battery expo, “Inter Battery,” opened Wednesday, the first and the largest expo to be held in Coex, Seoul, since Oct. 12, when the social distancing measures were lowered to Level 1. At the expo, which will be held until Friday, 198 companies are participating, including LG Chem, Samsung SDI and SK Innovation, to tout their battery technologies. To enter the expo, visitors had to scan their QR codes and wear masks and disposable gloves. As Korea’s
Oct. 21, 2020
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Disney picks LG Display for OLED
LG Display signed a three-year strategic partnership with Walt Disney Studios’ StudioLAB to provide it with organic light-emitting diode TV panels, the company said Wednesday. The deal will add transparent, ultrahigh-definition display panels developed and manufactured by LG Display for StudioLAB. StudioLAB is a subsidiary of Walt Disney Studios that researches cutting-edge filmmaking technologies. Walt Disney Studios comprises of Disney, Walt Disney Animation Studios, Pixar Animation
Oct. 21, 2020
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Shin Dong-bin’s son joins Lotte Japan
Shin Yu-yeol, the only son of Lotte Group Chairman Shin Dong-bin, joined Lotte Japan earlier this year, the group confirmed on Wednesday. His educational and career path resembles his father’s corporate journey. Shin went to Keio University, got a management degree from Columbia University and previously worked at Nomura Singapore. His father also began his career at Nomura London when he was 25 and moved to Lotte International in Japan when he was 32. He graduated from Aoyama Gakuin
Oct. 21, 2020
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Samsung Biologics Q3 net income up 27% to 56.1b won
Samsung Biologics Co. on Wednesday reported its third-quarter net profit of 56.1 billion won ($49.5 million), up 27 percent from a year earlier. The company said in a regulatory filing that operating income for the July-September period rose 139.5 percent on-year to 56.5 billion won. Sales increased 48.6 percent to 274.6 billion won. (Yonhap)
Oct. 21, 2020
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SPC Group to open Shake Shack in Daejeon
SPC Group said Wednesday it will open a Shake Shack location in Galleria Timeworld in Daejeon in November. The Shake Shack store planned to launch in Daejeon is the third outlet for the burger chain to be opened outside the Greater Seoul area that includes Incheon and Gyeonggi Province, SPC said. A fence installed around the Shake Shack store at Galleria Timeworld department store is decorated with colorful graffiti art depicting people dining in the burger house by Junk House, SPC said. The
Oct. 21, 2020
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SK E&C joins hands with Veea for Smart Safety Platform
SK Engineering & Construction said Wednesday it has teamed up with US platform-as-a-service company Veea to develop and operate a Smart Safety Platform, a service designed to protect staff on construction sites. The safety management system collects and analyzes big data with regards to industrial disasters and sends information to supervisors and construction workers via portable devices, the construction company said. The move will see SK E&C bypass technical difficulties surrounding
Oct. 21, 2020