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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[KH Explains] Can G-Star level up?
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Ex-president's daughter investigated for drunk driving accident
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Ministry moves for stronger investigative right in tech infringement against SMEs
The Korean government will toughen probes into large firms infringing on the technologies of small and medium-sized enterprises, officials said Monday. For this, the Ministry of SMEs and Startups announced it will move to revise regulations related to companies’ technology infringements to reinforce the investigative power. Currently, authorities have to suspend an investigation on alleged technology infringement in certain cases, including when a business is temporarily closed or a
June 8, 2020
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GS Caltex gas stations kick off drone delivery services
GS Caltex said Monday it has launched drone delivery services at its gas stations on Jeju Island, utilizing them as logistics hubs. According to the South Korean oil refiner, drones will deliver daily necessities to customers living in rural areas after they place orders through the app of its convenience store chain GS25. “Gas stations are easy for cargo trucks to enter, have enough storage space and are located all across the country, making them suitable for logistics bases,&rdquo
June 8, 2020
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Kainos Med completes Kosdaq listing
Kainos Medicine completed listing in Korea’s secondary bourse Kosdaq, Monday, vowing to inject more power to its ongoing pipeline developments for Parkinson’s Disease and acquired immunodeficiency syndrome treatments. Kainos Medicine merged with Kosdaq-listed Hana Financial Eleventh Special Purpose Acquisition Company by which it became a listed company on Kosdaq. “Becoming a publicly-traded company is an impetus for Kainos Medicine to add fuel to its on-going novel drug dev
June 8, 2020
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Hanwha mulling entering US hydrogen ecosystem
Hanwha Energy Corp. and three other affiliates are considering entering the US hydrogen ecosystem, Hanwha said Monday, after a successful investment in a US hydrogen truck maker. In 2018, Hanwha Energy and Hanwha General Chemical Co. each invested $50 million for a combined 6.13 percent stake in Nikola Motor. Nikola Motor's market value stood at $12.2 billion on the day of its debut on the US Nasdaq market Thursday. Nikola's market debut raised the value of the stake held by Hanwha Energy an
June 8, 2020
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Hyundai Heavy promises improved safety measures at workplaces
Hyundai Heavy Industries Group, South Korea's top shipbuilder, said Monday it will make improving safety for its workers its top priority amid a series of accidents at its workplaces. The move was followed by its decision last week to spend an additional 300 billion won ($244 million) to beef up safety for its workers over the next three years. The group now plans to spend a total of 1.64 trillion won during the cited period to improve safety at the facilities of its nine affiliates, includ
June 8, 2020
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Over half of virus-hit Korean firms to cut R&D spending in H2: poll
More than half of South Korean firms plan to cut their spending on research and development (R&D) and hiring of researchers in the second half of the year due to the coronavirus pandemic, a poll showed Monday. The survey of 1,221 companies, taken by the Korea Industrial Technology Association (KOITA) from May 22-25, showed 58 percent of the respondents have plans to scale down their R&D investment in the July-December period. The figure is up 10.3 percentage points from a similar surv
June 8, 2020
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Remdesivir shortens COVID-19 recovery time, but limits exist: experts
Remdesivir shortens recovery time for novel coronavirus patients, but the experimental drug conventionally used for treating Ebola has limited efficacy in severe cases, health experts said Monday. Last week, the Ministry of Food and Drug Safety, South Korea's drug safety watchdog, approved the use of Remdesivir as a treatment drug for COVID-19, allowing special imports by using its special measures procedure. Following the approval, controversies arose on whether Remdesivir, medication develo
June 8, 2020
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[Monitor] New apartments in Seocho-gu most expensive in Seoul
The most popular apartments in Seoul are new and located in Seocho-gu, according a recent report. Local real estate company Real Estate 114 surveyed the average price of apartments by year and district in Seoul as of last month. By year, it found that new apartments in the first to fifth year of occupancy were the most expensive at an average of 1.38 billion won ($1.14 million). By district, Seocho-gu had the highest average sale price of 2.57 billion won. (khnews@heraldcorp.com)
June 8, 2020
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Hanwha Systems acquires British antenna company
Hanwha Systems Co., the defense industry unit of Hanwha Group, said Monday it has acquired a British satellite communication antenna company in a move to secure a new growth driver. Hanwha Systems clinched a deal last week to acquire the business and assets of Phasor Solutions Ltd., which develops satellite communication antenna technology, the company said in a statement. "We have made a swift decision to acquire the British company as the satellite communication equipment market has
June 8, 2020
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Asiana resumes flights to Hanoi in three months
Asiana Airlines said Sunday it has resumed flights to Hanoi after Vietnam exceptionally allowed 220 South Korean students to enter the country. Since March 22, Vietnam has suspended the entry of all foreigners to contain the spread of COVID-19. In February, Asiana made an emergency return as the Vietnamese government refused to allow the plane from Korea to land at Hanoi. Asiana said its OZ733 flight carrying 218 Korean students departed from Incheon International Airport at 9:20 a.m. on Su
June 7, 2020
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Social distancing boosts PC games, mobile videos: report
Given the nationwide social distancing norms in place, South Koreans are playing more computer games and watching videos on mobile devices, data showed Sunday. According to a report from local market research firm Nielsen KoreanClick, Koreans spent 34 percent of their time playing games on PCs in the March-April period, an 11 percentage-point increase on-year, topping other activities. Meanwhile, Koreans spent less time on internet portals and search engines, with the ratio dropping from 26
June 7, 2020
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Samsung reiterates 2015 merger was ‘legitimate’
Samsung Electronics reiterated Sunday that the merger of its two key affiliates that was allegedly fast-tracked to allow Vice Chairman Lee Jae-yong to wrest control of the conglomerate was completely legitimate. The company said in a statement that the merger of Samsung C&T and Cheil Industries in 2015 took place legitimately, a day before a review of the arrest warrant for Lee. The statement that started with, “Samsung is in crisis,” said, “To overcome this crisis, man
June 7, 2020
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Hyundai delays delivery of GV80 SUV following engine vibration issue
Hyundai Motor Co., South Korea's No.1 carmaker, said Friday that it will delay delivery of its diesel-powered GV80 sport utility vehicle due to engine vibration issues. In a notice sent to customers who ordered the company's first-ever uber luxury SUV by its high-end Genesis sub-brand, Hyundai confirmed that there have been intermittent problems with the engine. The engine at the center of the problem is a new longitudinal in-line six diesel that is exclusive to the GV80. The company
June 5, 2020
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Niclosamide removes coronavirus in ferret in 3 days: Daewoong
Daewoong Pharamaceutical and its subsidiary Daewoong Therapeutics said Friday that their proposed COVID-19 treatment DWRX2003 (niclosamide) has been found capable of removing the SARS-CoV-2 virus in a ferret’s lungs in three days. Daewoong Therapeutics, in collaboration with Chungbuk National University, carried out preclinical animal tests of DWRX2003 in ferrets infected with SARS-CoV-2. In a lung tissue biopsy conducted three days into the administration, the researchers found that a
June 5, 2020
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SKT taps semiconductor-based next-gen X-ray
Korean telecommunications firm SK Telecom is tapping the future of digitalized medical imaging by channeling semiconductor and 5G network services. SKT announced Friday that the company has become the second-biggest shareholder of Israeli medical imaging firm Nanox, which is preparing to make an initial public offering on the US tech-heavy Nasdaq bourse, by participating in a pre-IPO deal. The Korean mobile carrier has invested an accumulated $23 million in Nanox, earning exclusive business r
June 5, 2020
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LS C&S wins W100b contract for electrical cables in Singapore
LS Cable & System said Friday it won a contract worth 100 billion won ($82 million) to supply electrical cables in Singapore. Under the deal, LS C&S will provide high- and low-voltage cables that will stretch 400 kilometers through Singapore, through 2021. The company said it has a strong foothold in Singapore, obtaining the biggest market share there. The orders have been placed by the Singaporean government to replace aged high-voltage cables for consecutive years since 2017. Th
June 5, 2020
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LG to forego new hires in first half of 2020
LG Group’s major affiliates LG Electronics and LG Display are unlikely to proceed with the first leg of the semiannual recruitment process in the first half of 2020. As of Friday, the two companies have yet to give notice of any hiring plans. Considering the numerous steps that large conglomerates go through to evaluate and sift through hundreds of candidates, the lack of plans at this point of the year indicate the companies are curtailing human resources investment. Earlier in Marc
June 5, 2020
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[Monitor] Remote working at public entities rises 22-fold
With the coronavirus pandemic forcing social distancing, the number of employees at public entities who worked from home in the first quarter this year reached 31,148, data by state portal service Alio showed. It is nearly 22 times more than 1,408 tallied for the whole of last year. There are some 418,000 working at the surveyed state-run companies and organizations. (khnews@heraldcorp.com)
June 5, 2020
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LS Group's founding family members indicted for illegal inter-affiliate trading
Three founding family members of the South Korean electric cable manufacturing conglomerate LS Group were indicted on Thursday for illegal inter-affiliate trading worth 25.5 billion won ($20.9 million), prosecutors said. Koo Ja-hong, chairman of LS-Nikko Copper Inc., the group's copper smelting affiliate, Koo Ja-yub, chairman of LS Cable & System, and Koo Ja-eun, chairman of LS Mtron, were indicted on charges of violating anti-trust law by providing illegal support to a sister compa
June 4, 2020
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Korea cracks down on foreign games that don’t play by the rules
The South Korean game censorship body on Thursday gave an ultimatum to foreign firms that are distributing products here without receiving government ratings, launching a surgical strike on popular cloud platform Steam. Steam is a video game digital distribution service that also supports games from third-party publishers, allowing users to download them after purchase. According to Game Rating and Administration Committee Thursday, the agency has recommended Steam to receive ratings on unr
June 4, 2020