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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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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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Yoon honors veterans of Korean War in trip to Philippines
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Seoulites celebrate coexistence at Wellness Seoul 2024
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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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S. Korea's defense industry reports W3.3tr. of H1 sales
Local defense companies reported 3.3 trillion won ($2.75 billion) of sales in the first half of the year, with exports accounting for about 10 percent or 329 billion won, the Defense Acquisition Program Administration said Thursday. The number of people employed at defense firms was 33,103 as of June, down from 33,207 reported last year. In 2019, the defense industry reported 14 trillion won in sales, up 2.2 percent from a year earlier. Overseas sales stood at 1.77 trillion won, down 11.5 per
July 2, 2020
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French luxury brand Dior raises prices of major bags amid pandemic
The French luxury brand Christian Dior began to raise prices of its major bags Thursday, industry sources said, as people's demand for luxury goods has not been subdued even amid the pandemic-caused economic slump. Dior will increase the price tags of its major products, including Dior Lady bags, by around 10-12 percent, marking its first hike this year, according to industry sources. It followed a similar rise in October 2019. The latest hikes are reportedly applied to Dior's products sold i
July 2, 2020
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S. Korea to provide telemedicine service for overseas construction workers
South Korea is taking steps to provide telemedicine services to overseas South Korean construction workers amid heightened health concerns caused by the coronavirus pandemic, the infrastructure ministry said Wednesday. The move is part of a broader effort to better protect South Korean builders, as 87 have tested positive for COVID-19 and three have died after contracting the highly infectious disease, the Ministry of Land, Infrastructure and Transport said. There are estimated to be around 7
July 1, 2020
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Posco wins industry leadership award in 2020 Global Metals Awards
South Korea’s largest steelmaker Posco won the steel industry leadership award at this year’s Global Metals Awards, the company said Wednesday. Posco said it was selected as the winner at the awards ceremony, hosted by S&P Global Platts, for its business performance turning out relatively better than its competitors in times of protectionism spreading globally and worsening market conditions. The Global Metals Awards recognize those that motivate the metals industry to new w
July 1, 2020
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Samsung SDI marks 50th anniversary with emphasis on ‘supergap’ initiative
South Korean battery maker Samsung SDI on Wednesday celebrated its 50th anniversary at its headquarters in Giheung, Gyeonggi Province, pledging to lead the next half-century with a “supergap” initiative. The supergap initiative is a strategy led by Lee Jae-yong, vice chairman of Samsung Electronics and de facto leader of Samsung Group, to widen its technology gap with competitors. “Samsung SDI must secure supergap technology that can offer the highest level of quality and
July 1, 2020
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SK to deliver free gas coupons to thousands of coronavirus heroes
SK Energy, an affiliate of SK Innovation, said Wednesday it will deliver free gasoline coupons worth 100,000 won ($83) to thousands of front-line fighters in the battle against the coronavirus outbreak. According to SK Energy, the giveaway is to be held through July 22, where participants can access the lists of heroes posted on www.sk-oilro.co.kr and choose those they would like to support. Then, SK Energy will deliver the free gas coupons to each of the selected candidates. Candidates inc
July 1, 2020
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Boryung to invest W24b in innovative US health care firms through Hayan I, L.P.
Boryung Pharmaceutical said Wednesday it will make an incremental 24 billion won ($20 million) investment in innovative US health care firms. The investment will be carried out over three years by Hayan I, L.P., which is a corporate venture capital fund established in the US by Boryung. Boryung Pharmaceutical plans to strengthen its pipelines for novel drugs development through open innovation with the promising companies it invests in in the US. Boryung’s US entity, Hayan Health Netwo
July 1, 2020
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Samsung Display to mass-produce QD panels from 2021
Samsung Display said Wednesday it anticipates to begin mass production of quantum-dot panels from 2021. The company held a celebratory event at its facility in Asan, South Chungcheong Province, where CEO Lee Dong-hoon oversaw the delivery of the first batch of QD manufacturing equipment. “Despite the COVID-19 pandemic, our close collaborative ecosystem with global partners enabled us to carry out our QD investments according to plan,” said Choi Joo-sun, chief of large-size display
July 1, 2020
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Yuhan in-licenses GI Innovation’s allergy treatment pipeline for $1.2b
Yuhan Corp. announced Wednesday it has licensed GI Innovation’s next-generation allergy treatment pipeline in a deal that could potentially total $1.2 billion. “I am very pleased by this collaboration with GI Innovation to develop the next-generation allergy treatment across all four major allergic diseases; allergic asthma, chronic urticaria, atopic dermatitis and food allergy, improving the lives of pediatric and adult patients who suffer from allergies” said Yuhan Preside
July 1, 2020
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Exports continue to fall in June but show signs of recovery
South Korea’s exports in June decreased by 10.9 percent at $39.2 billion, as against $44 billion in the same month last year, latest data released Wednesday showed. According to the Ministry of Trade, Industry and Energy, exports have been on a downward trend for four consecutive months, struggling amid the global economic fallout from the COVID-19 pandemic. The average daily exports decreased by 18.5 percent on-year -- the figure was minus 18.3 percent in May. However, the pace of
July 1, 2020
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Hyundai Motor invests the most in promising startups: report
South Korea’s 500 largest companies by assets have expanded their investments in startups with high technologies since 2015, latest data showed Wednesday. Local corporate tracker CEOScore said their investments in startups increased more than 10-fold from 118.2 billion won ($98 million) in 2015 to 1.2 trillion won last year, with the total amount reaching 2.7 trillion won over the past five years. By sector, large investments were made in shared mobility, green cars, artificial intellig
July 1, 2020
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S. Korea aims to foster 1,000 hydrogen-related firms by 2040
SEJONG, July 1 (Yonhap) -- South Korea said Wednesday it will foster 1,000 businesses in the hydrogen industry over the next 20 years in its latest push to nurture a hydrogen-based ecosystem and related economy. Under the goal, the country will help create at least 500 new firms in various hydrogen-related segments, including cars, battery cells and production by 2030, according to the Ministry of Trade, Industry and Energy. The country will also raise funds worth 34 billion won ($28.3 millio
July 1, 2020
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Huons first Korean firm to export KF94 masks to Washington
Huons Global said Tuesday that it will be the first South Korean firm to supply high-filtration masks to the state of Washington in the US. “This deal shows that Huons’ epidemic prevention products have gained trust. We are also exchanging messages with the state of New York, where we anticipate to sign more deals,” said Um Key-an, CEO of Huons. Huons had signed deals to export various epidemic prevention tools to the US since May. The six deals amount to roughly 8 billi
June 30, 2020
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Merck starts next-gen semiconductor materials center in Korea
Global science and technology company Merck has opened the Korea Advanced Technology Center in Songtan Industrial Complex in Pyeongtaek, Gyeonggi Province, the company said Tuesday. “K-ATeC,” according to Merck, is a state-of-the-art facility that supports research and development for chemical mechanical polishing slurries as well as for the post-CMP cleaning of cutting-edge semiconductor devices. “Korea is an important innovation and production hub for Merck. We ha
June 30, 2020
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Domestic contracts rescue Korean defense firms from pandemic
Despite an export crunch, South Korean defense firms are powering through the coronavirus outbreak with the help of domestic contracts. According to Korea Aerospace Industries Tuesday, South Korea’s sole aircraft manufacturer signed a 688 billion-won ($570 million) deal with the Defense Acquisition Program Administration to supply 20 TA-50 aircraft to Korean Air Force by 2024. The TA-50 is a lead-in fighter trainer that was developed by adding a weapons system and a radar to KAI&rsquo
June 30, 2020
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[Best Brand] Samdo Environment’s plasma-generating tech keeps livestock farm clean
ENVIRONMENTAL TECHNOLOGY SAMDO ENVIRONMENT Samdo Environment is a South Korean company that has developed plasma-generating machines designed to get rid of stenches at livestock farms and the risk of exposing animals to potential viral, bacterial and parasitic infections. The company’s machine utilizes a technology that creates plasma by applying a strong electrical field. This creates ozone that reacts with harmful gases and dissipates in the air. Samdo Envrionment‘s technolog
June 30, 2020
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Hugel expects to launch Letybo in $1b European market by 2021
Hugel expects to begin distributing its wrinkle-smoothening botulinum toxin in the $1 billion European market in mid-2021, the company announced Tuesday. Hugel and its European distribution partner, Croma Pharma, have successfully completed phase 3 clinical trials in January 2019 and completed the submission of New Drug Application with the European Medicines Agency on Monday. As the standard review process takes roughly a year, Hugel expects to receive the approval in mid-2021. “Eur
June 30, 2020
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Samsung to skip Europe's largest consumer electronics show on virus woes
Samsung Electronics Co., the world's largest smartphone and TV vendor, has decided not to participate in Europe's largest consumer electronics fair due to the novel coronavirus pandemic, the company said Tuesday. Internationale Funkausstellung (IFA) 2020 is scheduled to take place from September 3 to 5 in Berlin, Germany, this year. Samsung has been a regular exhibitor at the tech show since 1991. Meanwhile, Samsung's smaller rival, LG Electronics Inc., has yet to confirm its IFA participa
June 30, 2020
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Chunlab launches health care services centering on feces analyzation
We know this by many names. Poo, feces, stool, turd, excrement. ... The list can grow endless if imaginative children join in. But scatology is not a matter to be lightly regarded, as “gut feelings” take on a literal meaning in health care. Chunlab, a microbiome research firm, on Tuesday launched three-step services analyzing feces for personalized health care. Chunlab’s Gut Inside survey collects excrement in a bag and analyzes the beneficial and harmful bacteria found in i
June 30, 2020
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[Best Brand] KNJ BIO combines oriental and western medicine
HEALTH FUNCTIONAL FOOD KNJ BIO KimNamJoo BIO is a functional health food maker whose roots are in both Asian herbs and modernized Western medicine. With “scientification of Oriental herbs” as the company’s motto, KNJ BIO blends natural substances with traditional medicinal ingredients for its health functional products. So far, the company’s main products are A-Zyme, Panax Tong, Chunglacto and Wonsamchil, whose intended effects range from strengthening of the liver,
June 30, 2020