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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Posco International, Seoul Techno Holdings to foster global startups
Posco International said Wednesday it would partner with Seoul Techno Holdings to foster startups with global potential. The trading firm signed a business agreement with the tech firm of Seoul National University in Seoul to help local startups advance into the global market. The event was attended by Posco International CEO Joo Si-bo and Seoul Techno Holdings President Mok Seung-hwan. With this agreement, the two will build a win-win model to promote overseas expansion of startups with ex
Oct. 21, 2020
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Daewoo Shipbuilding gets approval for FLNG design
Daewoo Shipbuilding & Marine Engineering Co. said Wednesday it has won approval for its design for its upgraded floating liquefied natural gas (LNG) facility from ABS, a US ship quality assurance and risk management company. The approval in principle for Daewoo Shipbuilder's design for the LNG offshore facility by the US firm allows the shipbuilder to seek orders for the facility, the company said. Daewoo Shipbuilding has pushed for the project under the cooperation with ABS since June 201
Oct. 21, 2020
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LG Electronics unveils eye skin care device in S. Korea
LG Electronics Inc. on Wednesday unveiled an eye skin care device in South Korea as the company tries to expand its presence in the beauty and health care sector amid the pandemic-driven stay-at-home trend. Preorders for LG Pra.L EyeCare will run until Oct. 29 with a price tag of 599,000 won ($530), according to the company. It is the eighth product launched under LG's beauty appliance brand PRA.L., whose lineup includes an LED face mask and a hair growth helmet. The eyewear device is desi
Oct. 21, 2020
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[Monitor] Korea's 5G download speed 2nd fastest in world
South Korea’s 5G download speed is second fastest globally, reaching an average speed of 336.1 megabits per second (Mbps), a report by industry tracker Opensignal showed Tuesday. First on the list was Saudi Arabia, who showed an average speed of 377.2 Mbps. Korea‘s average 5G download speed was also 5.6 times faster than its average 4G download speed of 60.5 Mbps. In August, the average download speed of 5G was 312.7 Mbps. (khnews@heraldcorp.com)
Oct. 21, 2020
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KITA’s Startup Branch becomes mecca of innovative growth
The Korea International Trade Association’s open innovation venue Startup Branch is becoming a mecca for innovative growth among local and global firms. According to KITA, it has been 500 days since the venue opened. Startup Branch was set up at Coex in Samseong-dong, southern Seoul, in June last year to create a domestic startup ecosystem and encourage global scale-ups. Since that time, leading local and foreign companies and startups have visited the venue and held about 400 large-sca
Oct. 20, 2020
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SK E&C’s new fuel cell plant opens
SK Engineering & Construction opened a new fuel cell manufacturing plant in the city of Gumi, North Gyeongsang Province, on Tuesday. The facility for the joint venture with US fuel cell company Bloom Energy 2020, known as Bloom SK Fuel Cell, comes as part of the company’s yearslong efforts to locally produce solid oxide fuel cells. The annual generating capacity of the factory is projected at 50 megawatts in 2021 with plans to grow to up to 400 megawatts by 2027. By Yim Hyun-su (hyu
Oct. 20, 2020
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LG Chem, Hyundai breathe new life into dead EV batteries
Major South Korean firms including LG Chem, Hyundai Glovis and Hyundai Motor have come up with new business models to reuse dead electric vehicle batteries to address approximately 80,000 used-up EV batteries that will materialize by 2029. The plan follows the Ministry of Trade, Industry and Energy’s fourth committee meeting on Monday to review regulatory exemptions for new business models, giving the green light to three projects that reuse EV batteries. When an EV batteries’ pe
Oct. 20, 2020
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Incheon Global City to build new residential block
Special-purpose company Incheon Global City has announced plans for the second phase of its project to build an apartment block for South Koreans based in the US. The plan will see the company sign a contract with Posco Engineering & Construction later this month and see construction begin in December, with its completion scheduled for April 2025. Those eligible for the newly constructed apartment subscription will be allotted apartments through a draw in November before signing deals the
Oct. 20, 2020
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NCSoft makes foray into console gaming market with ‘Fuser’
NCSoft is gearing up to enter the fast-growing global console gaming market with its first console title “Fuser,” a DJ rhythm game set for release on Nov. 10. According to the South Korean game company Tuesday, its North American subsidiary NC West will release Fuser for both on PC and three major console platforms -- PlayStation 4, Xbox One and Nintendo Switch -- in North America and Europe. NCSoft says its playlist will distinguish Fuser from other rhythm games. While previo
Oct. 20, 2020
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Hanwha Q Cells partners with Kowepo to build 150MW solar farm in Spain
Hanwha Q Cells said Tuesday that it has joined hands with Korea Western Power to launch solar power projects in Spain with a total capacity of 150 megawatts. According to South Korea’s leading solar cell and module maker, it signed a memorandum of understanding with Kowepo at Plaza Seoul Hotel on Monday agreeing to cooperate on the projects. In September last year, Hanwha Q Cells purchased the business rights from Spanish firm Hive to its 200-megawatt solar power projects. Under the a
Oct. 20, 2020
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Medytox’s Coretox at risk of losing license
After most of its Meditoxin units were stripped of its sales licenses, Medytox is at risk of losing two more of its products’ licenses as the Ministry of Food and Drug Safety moves to penalize their illegal sales in China. On Monday evening, the ministry issued an announcement that it has determined the 50, 100, 150 and 200 units of Meditoxin and Coretox violated the Pharmaceutical Act by trading overseas without the agency‘s permission to leave the country. Meditoxin 50, 100 and
Oct. 20, 2020
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Hyundai Motor's brand value ranks 5th worldwide
Hyundai Motor Co. said Tuesday its brand value was ranked fifth among global automakers on its efforts to evolve into a future mobility solutions provider. Hyundai Motor's brand value rose 1 percent to $14.3 billion in 2020 from $14.1 billion a year earlier, the company said, citing global brand consulting firm Interbrand's top 100 brand rankings for this year. Hyundai Motor's brand value ranking was up one notch from the prior year, and it marks the first time for South Korea's leading automa
Oct. 20, 2020
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Samsung's global brand value ranks 5th for first time
Samsung Electronics Co., the world's leading maker of smartphones and memory chips, said Tuesday its brand value was ranked fifth in the world this year for the first time. Samsung moved up to fifth most-valuable global brand this year with a record value of $62.3 billion, up 2 percent from last year's $61.1 billion, according to Interbrand's latest top 100 best global brands list. This is the first time Samsung ascended to the list of the global top five after initial evaluation of its brand
Oct. 20, 2020
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GC Wellbeing’s cancer-induced metabolic disorder treatment aims for 2021 license-out
GC Wellbeing has finished injection of its novel drug pipeline GCWB204 in European clinical phase 2 trial, the company said Tuesday. By the first half of 2021, GC Wellbeing will learn the scope of the drug’s effects and engage in negotiations for licensing it out, it added. GCBWB204 is a novel drug candidate for cancer cachexia, which is a nutritional imbalance in cancer patients that causes muscular atrophy and metabolic disorders. This medical condition can be caused by cancer itself,
Oct. 20, 2020
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LG Electronics launches rollable TV in S. Korea for 100m won
LG Electronics Inc. on Tuesday released the world's first rollable TV in South Korea at a jaw-dropping price of 100 million won ($87,000) as the tech giant aims to target high-end consumers amid the pandemic. The company said overseas launch schedules of LG Signature OLED R have not been fixed yet due to the COVID-19 situation in each country. LG said the product, which uses flexible OLED display that leverages self-lighting pixel technology, is designed to deliver a differentiated user expe
Oct. 20, 2020
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[Monitor] Employment drops at SMEs, rises at conglomerates
According to the Korea Small Business Institute and Statistics Korea, the number of employees at small and medium-sized enterprises marked 24.314 million in September, which was 436,000 fewer than a year prior. The number of employees at SMEs continued to drop on-year for the past seven months, largely due to the economic slowdown upon the COVID-19 pandemic. The number of employees at large firms, on the other hand, increased 44,000 in September from to a year prior to reach 2.698 million. B
Oct. 20, 2020
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LG Household tipped to outperform Amorepacific in Q3: poll
LG Household & Health Care Ltd. is estimated to have outperformed industry leader Amorepacific in the third quarter, thanks to a robust growth in the non-cosmetics business, a poll showed Tuesday. South Korea's No. 2 cosmetics company is projected to have logged an operating profit of 320.9 billion won ($281.5 million) in the July-September period, up 2.9 percent from a year earlier, according to the survey by Yonhap Infomax, the financial news arm of Yonhap News Agency. The figure is abou
Oct. 20, 2020
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LG Electronics tops TV consumer survey in Australia
South Korean electronics giant LG Electronics Inc. has placed first in a recent TV consumer satisfaction survey in Australia, overtaking rival Samsung Electronics Co., industry sources said Tuesday. In the annual survey conducted by Australian consumer tracker Canstar Blue, LG topped the list of best TV brands by earning five stars in five categories -- overall satisfaction, picture quality, ease of use, sound quality and smart compatibility. LG received four stars only in the value for money
Oct. 20, 2020
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SK hynix to buy Intel's NAND memory chip unit for $9b
SK hynix Inc., South Korea's No. 2 chipmaker, said Tuesday that it will buy the NAND business of US semiconductor giant Intel Corp. in a deal worth 10.3 trillion won ($9 billion) to help the company vault to become the world's second-largest NAND flash chipmaker. SK hynix said it will acquire all of Intel's NAND flash business, except its Optane memory unit. The deal includes Intel's solid state drive (SSD) business and its factory in Dalian, China. SK hynix said it will pay Intel 8 trillion w
Oct. 20, 2020
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LG Chem introduces world’s 1st biodegradable plastic with identical properties, functions
LG Chem said Monday that it has developed a new material made of 100 percent biodegradable raw materials, the first in the world that is identical to synthetic plastic in its properties and functions. According to the South Korean chemical-to-battery firm, the new material -- made of glucose from corn and waste glycerol generated from biodiesel production -- offers the same properties and transparency as synthetic resins such as polypropylene, one of the most widely produced commodity plastics
Oct. 19, 2020