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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[KH Explains] Can G-Star level up?
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Videoconferencing app provider Gooroomee struggles despite demand surge
At the beginning of the COVID-19 epidemic in Korea when people suddenly had to embrace remote working and social distancing, they turned to well-known tools provided by international tech companies, such as Google’s Hangouts and Microsoft’s Skype. The biggest beneficiary of the increased demand was probably Zoom, a Nasdaq-listed startup that develops videoconferencing tools. Downloads of Zoom and other similar tools soared and the sudden popularity more than doubled Zoom&rsquo
April 21, 2020
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Korean display makers likely to suffer Q1 operating loss due to virus: analysts
South Korea's two major display makers are expected to suffer an operating loss for the first quarter of the year, analysts here said Tuesday, due to the fallout from the novel coronavirus pandemic. Samsung Display Co., the display manufacturing affiliate of Samsung Electronics Co., was projected to have posted an operating loss of 464.2 billion won ($378 million) and racked up 6.3 trillion won in sales in the January-March period, according to the data by 13 local brokerage houses compiled b
April 21, 2020
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LS Cable wins W134.3b Netherlands submarine cable project order
South Korea's top wire and cable maker, LS Cable & System, said Monday that it won a 134.3 billion won ($110 million) submarine cable project order from the Netherlands. In a regulatory filing, the company said the deal was reached with state-run TenneT on Friday (local time) to supply materials for an offshore wind power plant in the Western European country. The contract runs through the end of September 2023. LS Cable had formed a consortium with Jan De Nul, a Belgium con
April 20, 2020
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Samsung Biologics turns profit in Q1
Samsung Biologics posted a 65.27 percent on-year increase in revenue and posted an operating profit in the first quarter of 2020, the company notified shareholders Monday. Samsung Biologics tentatively estimates 207.2 billion won ($169 million) in revenue and 62.6 billion won in operating profit. Net profit marked 39.1 billion won. Samsung Biologics explained that the shifted composition of the biologics drug products being manufactured in its first plant, and the increased sales of th
April 20, 2020
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Medytox requests suspension to halt of Meditoxin sales
Medytox, Korea’s largest botulinum toxin maker by market share, said Monday that it has submitted a request for suspension of execution on the Drug Ministry’s order to halt manufacturing and sales of its cash cow Meditoxin. While apologizing to customers and investors for causing concern, Medytox argued that the ministry’s order was based on dated findings, and there were no reports of Meditoxin products causing severe adverse effects in the 20 years it has been on the marke
April 20, 2020
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[Herald Interview] Patent attorney takes on Chinese IP brokers, discusses misperception on China
December 2019 was one of the most memorable months in Ryu Sung-won’s career. The patent attorney with 16 years of experience had concluded a 15-month legal journey, winning back 53 brands whose trademarks were stolen in China. In 2018, on behalf of the 53 Korean companies, Ryu, managing partner of Jeeshim IP Law Office, had filed lawsuits against five “professional” intellectual property squatters that had preemptively registered Korean brands in China as if they were th
April 20, 2020
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Hyundai to export hydrogen fuel cell tech
The Ministry of Trade, Industry and Energy announced Monday that it has approved Hyundai Motor’s export of hydrogen fuel cell technologies. The top automaker in South Korea will export its hydrogen fuel cell solution to two companies based in the United States and the Europe. It hopes to be the first Korean firm to export hydrogen fuel cell technologies abroad. The Trade Ministry said that the decision has been made to support the Korean automaker to increase its foothold in the global
April 20, 2020
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GS E&C wins W550b contract to build railroads in Singapore
GS Engineering and Construction said Monday that it had won a 550 billion won ($451 million) contract to build railway lines in Singapore in cooperation with the Korea Railroad Research Institute. The company obtained the order from Singapore’s Land Transport Authority for its Integrated Train Testing Center project, a railway testing facility. It is a design-build contract, under which GS E&C will lead the whole project, the company said. GS E&C said it would build three track
April 20, 2020
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[News Analysis] EV transition inevitable despite coronavirus uncertainties
The COVID-19 outbreak has only accelerated the transition to electric vehicles, as major automakers stay on course for the change, benefiting Korean battery makers along the way. Despite resistance from internal combustion engine industries in Europe and the US citing market struggles from the pandemic, key auto brands are using the situation as an opportunity to take out their ill-prepared competition. The move consequently has brightened the outlook for Korean electric vehicle battery giant
April 20, 2020
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SKC to produce mask blanks for semiconductors this year
South Korean chemical and tech materials firm SKC said Monday it would mass produce mask blanks this year, tackling the key material’s heavy reliance on Japanese suppliers. SKC, an affiliate of memory chip giant SK hynix, is testing a prototype of a high-end mask blank -- a core material for semiconductor production that relies 90 percent on Japanese supplies -- with domestic firms and will begin the mass production of the material in the second of this year, according to the company.
April 20, 2020
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SK Innovation clinches EV battery deal from BAIC
South Korean battery maker SK Innovation will supply electric vehicle batteries to the Beijing Automotive Industry Holding Co., or BAIC, after winning out against state-sponsored Chinese competitors. According to industry sources Monday, the Chinese automaker’s premium electric SUV model Arcfox Mark 5 will be equipped with NCM811 batteries produced at SK Innovation’s battery cell plant in Changzhou, Jiangsu province. “Technology is the only area where SK Innovation can dif
April 20, 2020
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S-Oil delivers W100m for musicians with developmental disabilities
Petroleum and refinery firm S-Oil said Monday that it has delivered 100 million won ($82,000) to the Heart to Heart Orchestra, an orchestra founded in 2006 to nurture musicians with developmental disabilities. The company said the donation would be used to provide musical education for teenagers with developmental disabilities from low-income families, as well as to raise awareness about disability rights among elementary, middle and high school students. The funds will also support the
April 20, 2020
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Young owner family executives, many of them women, emerging in Korean business world
Compared with years past, more of the executives from owner families at South Korea’s conglomerates are women or members of the younger generation, data from a local corporate tracker showed Monday. Six group chairpersons were born since 1970 and nearly a quarter of the conglomerates’ 150 young executives are women, the Korea CXO Institute said, citing its survey of the 200 largest groups. Among the younger business leaders in charge at the nation’s top 10 conglomerates are
April 20, 2020
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[Graphic News] S. Korea ranks 2nd in Q1 shipbuilding orders
South Korea received the second-largest amount of new shipbuilding orders in the first quarter of the year after China, with global shipbuilding orders plunging 71 percent amid the spreading coronavirus outbreak, industry data showed. South Korea won new shipbuilding orders totaling 360,000 compensated gross tons in the January-March period, accounting for 16 percent of overall orders around the globe totaling 2.33 million CGTs, according to the data from Clarkson Research Services. Ch
April 20, 2020
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Electronic firms stick to 2020 plans
The South Korean electronics sector is continuing to push through its original plans of business investment and expansion for 2020 despite the uncertainty cast by the COVID-19 pandemic. According to industry sources Sunday, the Korean electronics companies spanning batteries, displays and semiconductors are showing no signs of drawing back from their overseas plant construction timelines. On the semiconductors frontier, Samsung Electronics is aided by the Foreign Affairs Ministry as it talks
April 19, 2020
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Posco International donates 100 virus test kits to Myanmar
Posco International said Sunday it has sent 100 virus test kits that can run 10,000 tests to Myanmar, as part of its relief efforts for the COVID-19 pandemic. According to the company, it has successfully delivered the test kits developed by Korean firm BioSewoom to Myanmar’s Ministry of Health and Sports. The cost of 170 million won ($140,000) was shared by Posco International and its consortium partner companies -- Myanmar Oil and Gas Enterprise, Oil and Natural Gas Corp., Gas Autho
April 19, 2020
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Home appliance sales strong amid virus crisis
Although the COVID-19 crisis has dampened overall consumer sentiment, sales of home appliances remain strong, according to industry sources Sunday. With people spending more time at home to practice social distancing, home appliance sales are booming. The government’s subsidy program to support purchases of energy-efficient home appliances is also contributing to the sales growth. According to Lotte Himart, 10 home appliances categorized as energy-efficient saw combined sales go up b
April 19, 2020
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SK Energy speeds up digital reform
SK Energy on Sunday announced plans to accelerate its digital reform to innovate the conventional oil refinery business. The subsidiary of SK Innovation, South Korea’s leading energy firm, said it has finalized three directions for the digital transformation of its business model. The company is seeking digital operational excellency, accompanied by a green and next-generation platform. SK Energy has decided to expand the smart plant system that combines artificial intelligence and
April 19, 2020
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ITC to review trade secrets case between LG Chem and SK Innovation
The United States International Trade Commission said Sunday that it has accepted a request from SK Innovation to review a high-profile case between the company and LG Chem concerning the alleged theft of trade secrets. The ITC said it would “review the initial determination in its entirety.” Previously, the ITC found that SK Innovation stole trade secrets about lithium-ion batteries for electric vehicles, in the process of recruiting former LG Chem employees since 2017. Publishe
April 18, 2020
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Korea bans local sales of Medytox’s BTX drug Meditoxin
Sales of the botulinum toxin product Meditoxin, from South Korean drugmaker Medytox, have been banned due to apprehensions about an unapproved ingredient, authorities said Friday. The Ministry of Food and Drug Safety said it will indefinitely suspend the manufacturing, selling and use of Meditoxin, adding that it was canceling its approval for Meditoxin products containing doses of 2, 4 and 6 milliliters. The ministry made the decision after the prosecution revealed the results of an investi
April 18, 2020