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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Samsung heir wins public backing in legal battle, but uncertainty remains
Samsung Group heir apparent Lee Jae-yong was granted a respite Friday in a legal battle over his alleged role in a controversial merger and fraudulent accounting, as an independent panel of experts concluded that prosecutors should not indict him. The panel, made up of civil activists, legal experts and others, concurred that the investigation into Lee unwarranted. Early this month, a few days ahead of a court ruling over his detention, Lee, vice chairman at Samsun
June 26, 2020
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Firms share best practices for post-COVID recovery at AmCham seminar
Companies doing business in Korea have shared their best practices and lessons learned amid the pandemic in a seminar hosted by the American Chamber of Commerce in Korea on Friday. On the day, AmCham hosted the “Doing Business in Korea Seminar 2020,” which was attended by around 100 distinguished guests, including officials from the US and Korean governments and CEOs of foreign companies. In his congratulatory remarks, AmCham Chairman & CEO James Kim highlighted the need fo
June 26, 2020
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15 COVID-19 treatment drugs, vaccines get nod for clinical trials in S. Korea
South Korea has approved 15 candidates for coronavirus treatment drugs and vaccines for clinical trials as it steps up efforts to combat the coronavirus pandemic, the Ministry of Food and Drug Safety said Friday. The candidate materials include two that may be developed into vaccines and 13 that show promise as treatment drugs, it said. The ministry said most of the candidates being tested are foreign, but two have been made by local drugmakers -- Bukwang Pharmaceutical Co. and Chong Kun Dang
June 26, 2020
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Battlegrounds creator Kim Chang-han to officially lead Krafton
Krafton said Thursday Battlegrounds developer Kim Chang-han has officially become new CEO after being appointed by shareholders and the board of directors in March. He will head both the company and its subsidiary PUBG Corp. Krafton is the parent company of game studios PUBG, Bluehole, Pnix, Red Sahara, Delusion and En Masse Entertainment. According to Krafton, Kim, who is the developer of PUBG’s eponymous game PlayerUnknown’s Battlegrounds, officially assumed the post of Krafton&
June 26, 2020
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Business calls for regulatory changes in Korea
South Korean businesspeople have called for easing unfavorable regulations that are not applied in rival countries in order to secure the competitiveness of the nation’s major industries. On Friday, the Korea Chamber of Commerce and Industry held a second meeting of the regulatory improvement for the major industries with the private and public sectors to listen to the regulatory difficulties of the equipment industry and seek solutions. The meeting was attended by industry associations
June 26, 2020
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Prosecutors seek arrest warrant for ex-Kolon chief over drug development scandal
South Korean prosecutors on Thursday sought an arrest warrant for former Kolon Group chief Lee Woong-yeol as part of their investigation into a controversial gene therapy drug developed by a group company. The Seoul Central District Prosecutors Office said it requested the warrant to detain Lee on charges of fraud, breach of trust and violation of the pharmaceutical affairs act. Kolon Life Science, a unit of Kolon Group, initially received approval for Invossa, a cell and gene therapy for ost
June 25, 2020
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KAI seeks to supply 20 TA-50 fighters to Air Force
Korea Aerospace Industries is set to sell 20 TA-50 fighters to the South Korean Air Force, according to industry sources Thursday. South Korea’s sole aircraft manufacturer and a committee under the Defense Acquisition Program Administration are set to discuss the sales of 20 units of TA-50 lead-in fighter trainers to the Korean Air Force on Friday, they said. “If the defense project promotion committee approves the deal, KAI and DAPA are expected sign a 700-billion-won ($580 mill
June 25, 2020
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WeMade wins IP lawsuit in Singapore against Chinese copycats
WeMade said Thursday that it has won a lawsuit against Chinese rivals in a Singapore-based arbitration court for breaching a software license agreement (SLA) for its game The Legend of Mir 2. According to the South Korean game company, the International Chamber of Commerce’s International Court of Arbitration confirmed that the SLA on The Legend of Mir 2 that WeMade signed with Korean game company Actoz Soft and Chinese game company Shanda Games’ affiliate Lansha Information Techn
June 25, 2020
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India finally allows LG Chem employees to go home
LG Chem said Thursday that an Indian court granted a conditional return home to eight company officials who had been stopped by local police from boarding a chartered flight back to Korea last month. According to LG Chem, the Indian High Court lifted a travel ban on the special task force comprised of eight officials, accepting a petition the company filed on Wednesday, on the condition that they appear in court if subpoenaed and cooperate with police investigations regarding a deadly gas leak
June 25, 2020
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[News Focus] After a year of restricted trade with Japan, Korean materials industry has grown stronger
It’s been nearly a year since Japan imposed restrictions on its exports to South Korea of key high-tech materials used in chipmaking, the economic pillar of Asia’s fourth-largest economy. At the time, Korea panicked. But one year on, Korea has made significant efforts to reduce its dependence on Japan, which is a close neighbor but also a rival on many fronts, by diversifying its import channels and localizing its materials technologies. On July 1 last year, Japan abruptly moved
June 25, 2020
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GS E&C enters precast concrete business
GS Engineering and Construction said Thursday it is officially entering the precast concrete business by building a precast concrete factory in North Chungcheong Province. According to the company, it signed an investment agreement with the North Chungcheong provincial government and Eumseong County on Wednesday, to build the factory in the region. The factory will be built on a 150,000-square-meter plot of land inside the General Industrial Complex in Eumseong County, and it will be capabl
June 25, 2020
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Daelim Industrial seeks patent for noise-control tech
South Korea’s Daelim Industrial said Thursday it has applied for a patent for its new technology that drastically reduces sound between apartment floors. According to the construction company, it analyzed the impact patterns of the footsteps of adults and children to develop the new method of topping two layers of mortar and one layer of insulation material on top of the concrete slab, which is the basic frame of a building. Dubbed the Noise Free 3-layer System, the extra mortar and h
June 25, 2020
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Amorepacific, Bokwang Investment to become related via marriage
Amorepacific Group Chairman Suh Kyung-bae’s eldest daughter is getting engaged to the first son of Bokwang Investment Corp. Chairman Hong Seok-joon this weekend, according to industry sources Thursday. Suh Min-jeong and Hong Jeong-hwan, who started dating early this year after being introduced by an acquaintance, are set to hold an engagement ceremony at Shilla Hotel in Seoul at around 6 p.m. on Saturday. Both work at their fathers’ companies. Suh is the second-largest sharehold
June 25, 2020
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LabGenomics develops world’s first 35-minitue COVID-19 test kit
LabGenomics, a molecular diagnostics health care company, developed the world’s first 35-minute real-time polymerase chain reaction test kit for COVID-19. The company’s shares, listed on the tech-heavy Kosdaq, hit the daily growth ceiling of 30 percent on the day of the announcement Wednesday and continued to be upbeat in early morning trading Thursday, rising by 14.17 percent. Before, RT-PCR test kits for COVID-19 could yield results as fast as 2 1/2 hours. LabGenomics’ 35
June 25, 2020
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Hanmi Science envisions ‘Cydio Cigma’ for post-COVID-19 era
Novel drugs developer Hanmi Science vowed Thursday to rev up its engine for Cydio Cigma -- six goals, standing for cyber education, digital bio, oral bio, city bio, green bio and marine Bio. “Where there is no innovation, there is no development. Those who turn their backs on challenges are branded as cowards. Cydio Cigma is our goal and commitment for the post-COVID-19 era,” said Hanmi Science CEO Lim Chong-yoon at a meeting with executives in June. Lim promised to reward employe
June 25, 2020
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[Monitor] Half of married couples have double income
About half of married couples in South Korea earned two incomes in 2019, data from Statistics Korea showed. Among 12.305 million households led by married couples, 5.662 million were dual-income, while 6.644 million were single-income. The ratio of dual-income families had inched down by 0.3 percentage points to 46 percent from 2018. The agency said although there was a slight decrease, the overall ratio of dual-income couples has been high in recent years. Last year’s decline is attr
June 25, 2020
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SK Biopharmaceuticals issues record-breaking IPO
Investors were highly enthusiastic about the initial public offering of SK Biopharmaceuticals in the two-day retail tranche that wrapped up Wednesday, as it was oversubscribed 323 times with deposit payments amounting to 30.98 trillion won ($25.8 billion). The deposit payments -- 50 percent of the offering price -- reached 19.5 trillion won by noon and then zoomed up, according lead underwriter NH Investment & Securities. The drugmaker specializes in developing novel medicines for central
June 24, 2020
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South Korea’s Trade Minister Yoo Myung-hee bids to lead WTO
South Korea‘s Trade Minister Yoo Myung-hee on Wednesday officially announced her bid to become the next general director of the World Trade Organization (WTO). Yoo, 53, is the third South Korean to run for the top post of the Geneva-based trade body, currently facing challenges over confusions in global trade rules and shaky cooperation among the member countries. If elected, Yoo would be the first Korean to lead the organization. “South Korea can become a bridge, connecting deve
June 24, 2020
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[Herald Interview] ‘Lithium-ion batteries are approaching theoretical limits on energy density’
Rules in the electric vehicle race are simple: one with the longest range wins. However, reaching such a goal hasn’t been easy, as making current lithium-ion batteries more powerful increases the risks of explosions. For this reason, automakers have been seeking alternatives, and they may have found one: solid-state batteries. Also dubbed as dry batteries, they use solid electrodes and electrolytes instead of the liquid or polymer gel electrolytes found in lithium-ion or lithium polym
June 24, 2020
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S-Oil donates scholarship worth W280m to students from orphanage
S-Oil said Wednesday it donated 280 million won ($232,420) to 114 students from an orphanage as part of its scholarship program. According to the South Korean refiner, it held the S-Oil Dream Scholarship ceremony at its headquarters in Mapo-gu, western Seoul, with Korea Child Welfare Association to deliver scholarships to 44 two-year college students and 70 high school students from Sundukwon orphanage. “Education is the platform through which students can unlock their potential, capt
June 24, 2020