Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Yoon set for talks with Marcos in Philippines
-
4
Can Jennie break the K-pop solo artist slump?
-
5
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
First lady’s Dior bag scandal to be at center of Assembly audit
-
7
Yoon honors veterans of Korean War in trip to Philippines
-
8
Seoulites celebrate coexistence at Wellness Seoul 2024
-
9
[KH Explains] Can G-Star level up?
-
10
[Lee Kyong-hee] Tone-deaf first lady causes chaos
-
Empty duty-free stores hurt Hugel’s Q1 report
The drastic fall in duty-free shopping amid the ongoing global pandemic has eroded some 6 billion won ($4.9 million) from aesthetic solution company Hugel’s cosmetics product revenue. Hugel’s first-quarter report, filed Wednesday, showed the company suffered a 16 percent drop in on-year revenue at 41.2 billion won, a 25.1 percent drop in on-year operating profit at 12.3 billion won and a 52.4 percent fall in on-year net profit at 6.6 billion won. In the same period last year, Huge
May 13, 2020
-
Celltrion’s MERS, COVID-19 anti-virals selected as national projects
Celltrion announced Wednesday its anti-viral pipelines development for Middle East respiratory syndrome and COVID-19 have been selected as national projects. The Korea Health Industry Development Institute, under the Welfare Ministry, had sought applications for infectious disease prevention and treatment tech projects, intended to encourage research and development of “cold case” treatments. Celltrion now has a total budget of 3.7 billion won ($3 million) for potential MERS trea
May 13, 2020
-
Han Sung Motor donates W40m to help local flower market
Han Sung Motor, the official dealer of Mercedes-Benz in South Korea, said on Wednesday that it has recently completed a campaign aimed at supporting the struggling local flower industry, amid the economic fallout from the coronavirus pandemic. Last month, the company purchased flowers from nearby shops located in Seoul in an attempt to help troubled small businesses hit by the viral outbreak. It gave the flowers away to visitors at their branches. The company also promoted a two-week campaig
May 13, 2020
-
Cosmetics exporters eye expansion in China with regulation changes
With the Chinese government poised to revise its regulations on beauty products for the first time in 30 years, South Korean cosmetics firms are seeking to expand shipments to their largest export market, a government agency said Wednesday. Under the current regulations, exporters must pass a complicated sanitary permit and certification process. The rule applies to all beauty items, including simple soaps. Cosmetics made from raw materials that have not been used in China also have difficult
May 13, 2020
-
NCSoft posts record quarterly results in Q1
South Korean game company NCSoft said Tuesday it posted a record quarterly revenue of 731.1 billion won ($596.1 million) owing to the strong sales of mobile games as the COVID-19 outbreak kept people indoors, driving up demand. According to its regulatory filing, the sales of mobile games in the first quarter surged 54 percent to 553.2 billion won from the previous one, accounting for 75.6 percent of the total revenue. NCSoft’s flagship mobile games Lineage M and Lineage 2M brought i
May 12, 2020
-
Korean startups consider COIVD-19 an opportunity: survey
Korean startups find the COVID-19 pandemic positive for the country’s startup ecosystem in the future, a survey by the Ministry of SMEs and Startups showed on May 12. Out of 492 respondents, 42.5 percent said the COVID-19 pandemic will bring about either a very positive or positive impact on the startup ecosystem. Almost 65 percent of them said that there will be more chances for new business ideas due to changes brought about by the pandemic, while 40 percent of the respondents also exp
May 12, 2020
-
Regulatory sandbox support center launched
South Korea’s first public-private sandbox support center was launched Tuesday with the aim of removing regulatory hurdles to new innovative businesses. The regulatory sandbox system allows for the relaxation of regulations to accommodate certain innovative products and services. The government adopted it early last year in an effort to promote innovative growth in all industries. On Tuesday, the sandbox support center, set up at the Korea Chamber of Commerce and Industry in January,
May 12, 2020
-
Posco to launch new logistics unit this year
South Korea’s largest steelmaker Posco said Tuesday it is set to launch a new logistics corporation by the end of this year to integrate logistics capabilities within the group. The new corporation, tentatively named Global Smart Platform, plans to enhance logistics efficiency by taking charge of integrated contract and operation management of the transportation volume of Posco and its affiliates. It will also seek to support logistics partners to build smart and eco-friendly infrastr
May 12, 2020
-
SK Biopharmaceutical launches Xcopri in US
SK Biopharmaceutical is tapping the 4 trillion won ($3.2 billion) US antiepileptic drug market with Xcopri, the company said Tuesday. Xcopri, the company’s brand of cenobamate tablets, is the product of SK Biopharmaceutical CEO Cho Jeong-woo‘s 15-year research and development drive. The drug is an alternative treatment for adults with partial-onset seizures. “Patients can have different responses to the various seizure medicines that are available. (Xcopri) provides an ad
May 12, 2020
-
Boryung acquires rights in Korea for Eli Lilly’s Gemzar
Boryung Pharmaceutical has acquired all rights to Eli Lilly’s anti-cancer drug Gemzar in South Korea, the company said Monday. “We have strengthened our anti-cancer treatment portfolio through Gemzar. With continuing investments, we will grow the anti-cancer department as one of Boryung’s representative business areas,” said CEO Ahn Jae-hyun. Gemzar (gemcitabine) is a nucleoside metabolic inhibitor indicated for pancreatic cancer and, in combination with other drugs, i
May 12, 2020
-
[Time to Play] Valorant, Riot Games’ unoriginal but surprisingly fun FPS game
Yes, Riot Games’ Valorant is a new game. But is it original? Certainly not. The soon-to-be released first-person shooter game seems like a mishmash of everything users have seen before -- the graphics of Team Fortress 2, the effects of Paladins, the gameplay of Counter-Strike: Global Offensive, the gun sounds of Sudden Attack and skills that recall Overwatch and Apex Legends. Though it’s undeniable that Valorant was “inspired” by other FPS titles, the game itself is
May 11, 2020
-
Biz group calls on lawmakers to promptly pass economic bills
South Korean entrepreneurs have called on lawmakers to promptly pass nine economy-related bills as the term of the current National Assembly ends this month. The Korea Chamber of Commerce and Industry, the largest business lobby group here, said Monday that it delivered a report on economic legislation to the National Assembly, including the floor leaders of the main political parties and relevant standing committees. The report called for the passage of nine bills urgently needed to overcome
May 11, 2020
-
SK Holdings leads Hummingbird Bioscience’s $6.5m Series B extension funding
SK Holdings said Monday it is the lead investor in Singapore-based Hummingbird Bioscience’s $6.5 million Series B extension funding round. Hummingbird Bioscience, founded in 2015 in Singapore by former members of global pharma giant Sanofi, researches for novel antibody drugs. Antibody drugs are immunoproteins that selectively dock on, and attack, malignant proteins that become seeds for tumors and diseases. Hummingbird Bioscience is specially armed with a platform technology called Rat
May 11, 2020
-
[Monitor] Service industry in Jeju hit hardest by COVID-19
Production and sales in the service industry in Jeju during the first quarter of the year saw a two-digit rate of decline due to the coronavirus pandemic, data from Statistics Korea showed. Fifteen other regions also saw significant drops in their sales. Only Seoul saw its production rise. In Jeju, the drop in travelers led to a 47 percent drop in sales at duty free shops. Only South Jeolla Province, which do not have major department stores or duty free shops, saw a slight rise in retail sal
May 11, 2020
-
GS Caltex takes lead in contact-free gas station services
A new app from Korean oil refiner GS Caltex will allow charging and payment services at its gas stations without coming into contact with staff, to ensure safety amid the ongoing coronavirus outbreak. According to GS Caltex with some 330 gas stations here, its non-face-to-face refueling and payment app OWiN saw a 1,000 percent surge in monthly use in March compared to December last year. The number of app users spiked more than 500 percent in the same period. “With OWiN app, customer
May 10, 2020
-
If tank is full, where does the oil go?
With a dramatic drop in international oil prices and sluggish demand amid the novel coronavirus pandemic, oil refinery businesses in South Korea logged their worst-ever performances in the first quarter. Aside from plummeting product prices devastating earnings, some of the companies have also been facing difficulties in managing their recently unwanted stockpiles. Korea’s leading oil refinery and gas station operator SK Energy, in particular, is running out of storage space for crude
May 10, 2020
-
LG Chem vice chairman may visit India to deal with gas leak aftermath
South Korean chemical and battery firm LG Chem said Sunday that the company is considering ways to help the victims of the recent gas leak in India, including a visit by its vice chairman to oversee the efforts. After a gas leak at the LG Polymers plant in southern India on Thursday, which left 12 dead and around 1,000 local residents hospitalized, LG Chem has formed a special task force, promising support for victims and bereaved families. “For a thorough investigation and victim sup
May 10, 2020
-
Hyundai Oilbank to capture carbon for use in paper and construction materials
Korean oil refiner Hyundai Oilbank said Sunday it would commercialize a technology that can turn carbon emissions and residual products emitted from refineries into paper and construction materials. Hyundai Oilbank said Sunday it has signed a memorandum of understanding with Taekyung BK, a domestic manufacturer and distributor of lime with the technology to make calcium carbonate out of carbon emissions from refineries. Calcium carbonate is a raw material for making cement, paper, plastic
May 10, 2020
-
No plan yet for fifth runway at Incheon Airport: ministry
Following news report that Incheon International Airport Corp. plans to initiate building a fifth runway and third terminal, the Transport Ministry said Sunday the plan was yet to be decided. It was reported that the airport would need an additional runway to meet the increasing number of passengers anticipated in the future, though the airport is currently suffering from the fallout from the coronavirus pandemic. The Ministry of Land, Infrastructure and Transport, however, said that the plan
May 10, 2020
-
SK Innovation's two affiliates donate 4,000 COVID-19 test kits to Myanmar
SK Energy Co. and SK Trading International Co. have donated 4,000 Korean-made coronavirus test kits to Myanmar, the two firms' parent company said Sunday. The test kits worth about $50,000 arrived in Myanmar's commercial capital of Yangon on Saturday, said SK Innovation Co., South Korea's biggest refiner by sales. Suh Sok-won, CEO of SK Trading International, said the company has donated the test kits on humanitarian grounds as the Southeast Asian country is having difficulties diagnosing peo
May 10, 2020