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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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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Ex-president's daughter investigated for drunk driving accident
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Yoon honors veterans of Korean War in trip to Philippines
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'Culinary Class Wars' producers deny trying to spice up results
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Hanmi to present new nonalcoholic fatty drug treatment in Europe
Hanmi Pharmaceutical said Tuesday that it will present its LAPSTriple Agonist as a treatment for nonalcoholic fatty liver disease at the International Liver Congress hosted by the European Association for the Study of the Liver. Due to the global COVID-19 pandemic, this year’s EASL ILC is to be held online Aug. 27-29. According to Hanmi, a 12-week repetitive administration of LAPSTriple Agonist in 66 obese patients with nonalcoholic fatty liver disease, also known as NASH, has shown tha
Aug. 18, 2020
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[Monitor] SK reaps more profit than Samsung in pandemic
SK Group reaped the largest net profit in the first half of this year amid the COVID-19 pandemic, beating Samsung Group on equity gains from its affiliates, data from Yonhap Infomax showed Sunday. The consolidated net profit of SK rose 32 percent to 6.19 trillion won ($5.2 billion) during the first six months compared to a year ago, driven by strong performances of its key affiliates such as SK hynix, SK Telecom and SK Innovation. Samsung came second with its net profit declining 30 percent
Aug. 18, 2020
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Court revokes Korean watchdog’s request to suspend Hanwha Systems
A Seoul court revoked the antitrust watchdog’s requests to suspend the business of Hanwha Systems and limit its rights to participate in public biddings, according to industry sources on Monday. In a lawsuit Hanwha Systems filed against the Fair Trade Commission, the Seoul High Court decided to revoke the FTC’s business restrictions on Hanwha Systems, saying the FTC cannot punish the firm for the misconduct previously committed by a company it had acquired. Hanwha Systems bought
Aug. 17, 2020
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Three-digit infections force IT giants return to telecommuting
Leading technology firms in Korea are returning to remote working systems, as the country saw triple-digit increases of new virus cases for a fourth straight day Monday. SK Telecom, Korea’s No. 1 mobile carrier by market share, said Monday that it notified all staff and executives to work from home until Aug. 23 and provided specific guidelines on how to prevent infections. “Reschedule every face-to-face activity including meetings and gatherings. During telecommuting, refrain fr
Aug. 17, 2020
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Jeju Air secures W135b in recapitalization
One of the nation’s leading low-cost carriers, Jeju Air said Monday that new stocks worth 135 billion won ($114 million) have been allocated to the company’s existing shareholders and employees. The stocks were offered at 12,400 won, a 20 percent discount from the company’s stock price as of the end of last week. The company’s shares fell by 0.32 percent to close at 15,500 won. In Jeju Air’s recapitalization scheme, the Jeju municipal government subscribed for ar
Aug. 17, 2020
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Hyundai Motor, BBQ in trademark lawsuit over Genesis brand
Hyundai Motor and local chicken franchise Genesis BBQ are engaged in a lawsuit over the trademark rights of “Genesis.” Hyundai Motor, which launched the Genesis brand in 2015, has been in a legal battle with BBQ for dozens of trademark rights since 2016. The automaker has been asking for the cancellation of the trademark rights held by BBQ in some areas. The automaker was allowed to use the Genesis brand only related to automobiles because BBQ had registered trademark rights for
Aug. 17, 2020
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SK Group beats Samsung Group in H1 net profit
SK Group, a South Korean telecom-to-chemicals conglomerate, ranked first in first-half net profit, beating Samsung Group on equity gains from its affiliates, a local market data provider said Sunday. In the six months that ended in June, SK Group's consolidated net profit jumped 32 percent to 6.19 trillion won ($5.2 billion) from 4.69 trillion won in the same period of last year, according to Info Bigs, a conglomerate-focused data service provider operated by Yonhap Infomax Inc. SK's stellar
Aug. 16, 2020
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[67th Anniversary Special] Keeping up with new eating habits brought on by the pandemic
With the COVID-19 pandemic, some priorities have become universal -- hygiene, personal safety and social distancing. With the pandemic showing no signs of abating, experts say these factors will ultimately change the way people consume food. In turn, related industries should gear up for the “new normal.” “The increased awareness of food safety, and demands for healthy food and preference for noncontact transactions … such consumption patterns will continue for a lon
Aug. 15, 2020
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US conducting anti-dumping, countervailing duties probe on S. Korea steel pipes
The United States is conducting anti-dumping, countervailing duties probe on South Korean steel pipe products, following complaints by a local company, an international traders organization said Saturday. The investigation on seamless carbon and alloy steel standard, line and pressure pipes was officially launched on July 28 by the US Department of Commerce, the Korea International Trade Association (KITA) said. It said Texas-based steelmaker Vallourec Star, claiming unfair price cutting, req
Aug. 15, 2020
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Kim Jae-shin appointed as FTC vice chairman
Kim Jae-shin, secretary-general of Fair Trade Commission, has been appointed by Cheong Wa Dae as the vice chairman of the antitrust government agency on Friday. It was part of the presidential office’s reshuffle of vice minister-level officials. Kim, who started his career at FTC after passing the civil service exam in 1990, is said to be an expert on policymaking regarding business practices. He served at various bureaus, including planning and coordination, business trade policy, c
Aug. 14, 2020
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Fire breaks out at LG Chem plant in Ulsan
A fire broke out at a warehouse outside LG Chem’s plant in Onsan, Ulsan, on Friday morning, which was put out an hour later. A flare-up was noticed at around 10:50 a.m., thought to have been from spontaneous combustion of crop protection agent materials, according to the company. No casualties were reported and people who were evacuated from the area, including workers on the site and residents, are safe. Following the incident, some media outlets reported there was leakage of chemical
Aug. 14, 2020
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Celltrion to begin trials of Prolia biosimilar in Sept.
Celltrion said Friday that it will begin clinical phase 1 trials of its Prolia biosimilar CT-P41 in September. The study aims to test CT-P41’s safety in healthy participants and is anticipated to wrap up in the first half of 2021. Celltrion said it plans to finish clinical phase 3 trials by February 2025 when Prolia’s patent in the US will expire. CT-P41, as a biosimilar, gets to bypass clinical phase 2 trials given that it proves its similarity to the original drug. Proli
Aug. 14, 2020
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Sanofi Pasteur to continue nonprofit flu vaccination of homeless
Despite forecasts that there will be an unprecedented boost in global demand for the flu vaccine this year, Sanofi Pasteur Korea said Friday it will continue to provide free inoculations for the homeless. “Due to COVID-19 this year, we have seen an unprecedented increase in influenza vaccine demand as health authorities seek to prevent what is preventable and keep people who are at risk of influenza safe,” a company official said. Sanofi Pasteur anticipates around a 20 percent i
Aug. 14, 2020
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ULikeKorea expands livestock healthcare tech to sheep in Mongolia
ULikeKorea, a preventive health care company for livestock, said Friday that it has expanded its bio-capsule services to sheep in Mongolia. ULikeKorea’s LiveCare bio-capsule has passed proof of concept at sheep farms in Erdene Soum, Mongolia, some 50 kilometers east of the capital Ulaanbaatar using SK TNS’ 6-kilometer long-range Lora network and one other foreign partner’s collaboration. Mongolia has a vast number of sheep, with the country’s livestock population esti
Aug. 14, 2020
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SK Bioscience to contract manufacture Novavax’s COVID-19 vaccine
SK Bioscience will contract develop and manufacture American biotechnology firm Novavax’s COVID-19 vaccine, the company said Thursday. Through a trilateral agreement, SK Bioscience, Novavax and Korea’s Ministry of Healthcare will collaborate to quickly and stably produce the vaccine; support equitable global distribution; and improve public healthcare in Korea through efforts to secure supply. SK Bioscience, a vaccine-specialized spin-off of SK Chemical, recently rose in global r
Aug. 14, 2020
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Hanwha to generate electricity with pressure from gas pipelines
Hanwha Power Systems said Thursday it plans to generate electricity using pressure from gas pipelines. According to South Korea’s leading industrial air compressor maker, it will develop a system that can transform natural gas decompression energy into electrical energy. “High pressure gas has to be decompressed to low pressure gas before it is distributed to households. In the process, the gas expands, emitting energy. Hanwha Power Systems aims to tap this energy by installing
Aug. 13, 2020
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Unity brings Doosan's construction sites into VR
Unity said Thursday its game engine will check the safety of Doosan’s construction sites inside virtual reality. Unity Technologies Korea signed a memorandum of understanding with South Korean machinery manufacturer Doosan Infracore to verify the safety of construction sites by running a simulation inside a virtual reality built by Unity’s game engine. “Based on Unity’s game engine, the simulator will allow Doosan Infracore to accurately predict potential variables t
Aug. 13, 2020
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Posco set to mass produce world's first graphite free cutting steel
Posco, South Korea’s largest steelmaker, said Thursday it succeeded in developing the world’s first free cutting steel using graphite, and is set for mass production of the eco-friendly steel named PosGRAM. With its new development, Posco said it will be able to raise the country’s industrial competitiveness, as PosGRAM would replace lead free cutting steel, of which its entire supply has been imported. Free cutting steel refers to the steel that is high in strength, easy t
Aug. 13, 2020
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Demand for flu vaccine expected to soar this year
Demand for flu vaccines is anticipated to more than double this year on the back of COVID-19 pandemic, according to industry sources. As symptoms of influenza infection closely resemble that of the COVID-19 pandemic -- high fever and respiratory system inflammation -- by common sense the world anticipates there will be more demand for precautions against flu. “If in the past some 20 million people took flu repelling shots here in South Korea, this year we expect the number to go up to 3
Aug. 13, 2020
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[Monitor] Korea’s reliance on mountainside solar farms
The ratio of mountainside solar farms has declined from 39.2 percent in 2017 to 32.5 percent in 2018 and 31.5 percent in 2019, according to the Ministry of Industry, Trade and Energy. However, the scale of such solar farms has increased. In 2016, 529 hectares of mountainside solar farms were built. After President Moon Jae-in took office, 1,435 ha, 2,443 ha and 1,024 ha of solar farms were newly built in 2017, 2018 and 2019, respectively. As of Sunday, 12 landslides have occurred at mountai
Aug. 13, 2020