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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Firefighters’ 3,000 won meals spark nutrition concerns
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Korean manufacturers on full alert over Europe's virus lockdown
South Korean companies operating in Europe are on high alert after the European Union (EU) imposed a 30-day entry ban on travelers outside the bloc to stem the spread of the novel coronavirus, industry sources said Thursday. The European Union (EU)has decided to shut its borders and enforce travel restrictions on non-EU citizens after the region accounted for one-third of global COVID-19 cases. South Korean firms in Europe have beefed up their quarantine measures and are m
March 19, 2020
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Chung Euisun reelected as Hyundai Mobis’ internal director
Hyundai Motor Group Executive Vice Chairman Chung Euisun was reelected as Hyundai Mobis’ in-house director Wednesday during a shareholders meeting, after overcoming objections. Chung’s term was extended until 2022. The same day, the shareholders passed resolutions approving the financial statements and appointing two outside directors, Young&Co’s CEO Chang Young-woo and former Opel Chief Executive Karl-Thomas Neumann. Prior to the shareholders meeting, some overseas
March 18, 2020
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OB’s flagship Cass wins 2020 Korea Wine and Spirits Award
Cass, the leading domestic beer brand produced by Oriental Brewery, has won the 2020 Korea Wine and Spirits Award for five consecutive years. In January this year, OB’s Cass won the top prize at 2020 Korea Brand Hall of Fame, presented by the Institute for Industrial Policy Studies, the company said Wednesday. Cass is OB’s flagship lager beer here first introduced in 1994. Its market share in the local beer market in 2019 reached 36 percent with 1.19 trillion won of sales, accor
March 18, 2020
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[Newsmaker] Desperate crisis for shopkeepers
While industry sectors across the board in Korea are struggling to handle the economic impact of COVID-19, the nation’s 5.48 million self-employed and small business owners are among those suffering most. Oh Myong-seok, who has been running a 24-hour diner in Yongsan, Seoul, for seven years, is experiencing its worst-ever slump, as the store has seen its daily customer figures cut in half. “For night times from 9 p.m. to 9 a.m., revenue has been halved, for day times it has been
March 18, 2020
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Buoyed by Parasite wins, Nongshim’s Chapaghetti wins global consumers
Korean instant noodle maker Nongshim has become one of the greatest beneficiaries of big Oscar winner “Parasite,” thanks to the global “Chapaguri” popularity. Chapaguri -- translated as “ram-don” in the English subtitles -- is a hybrid instant noodle dish mixed with Chapaghetti black bean instant noodles and soup-based Neoguri ramen, both of which are manufactured by Nongshim. According to Nongshim, sales of Chapaghetti -- long a staple in Korean kitchen
March 18, 2020
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Doosan selected as nuclear framework supplier for UK military
The United Kingdom’s Ministry of Defense has selected Doosan Babcock, the British subsidiary of South Korea’s Doosan Heavy Industries & Construction, as one of its nuclear technical support providers. According to the Defense Infrastructure Organization last Wednesday, three suppliers have been selected to join Britain’s nuclear technical support provider framework. One is a consortium comprising Doosan Babcock and two other companies, KBR and Assystem. The other support
March 18, 2020
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LG Display edges out Japan Display in automotive display market
LG Display nabbed the top seat in 2019’s automotive display market, edging out Japan Display, IHS Markit data showed Wednesday. LG Display recorded $1.6 billion revenue in the automotive display segment last year, accounting for 20.1 percent of market domination. The company manufactures center information displays for cars, dashboard, and rear seat entertainment display panels. Japan Display, which had previously been ahead in the game, marked $1.1 billion revenue in 2019 and took u
March 18, 2020
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Hanwha’s K-9 howitzers get early delivery request from India
The delivery of Hanwha Defense’s K-9 self-propelled guns in India with technological support from the Korean company has been made several months ahead of schedule, according to industry sources. Hanwha Defense shipped the first batch of 10 guns to the Indian Army in November 2018 on schedule, upon which 41 guns of the K-9 Vajra -- a modified version of Hanwha Defense’s K-9 155-mm 52-caliber -- have been manufactured and supplied two to three months ahead of schedule, according to
March 18, 2020
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Samsung expects chip demand to grow this year
Samsung Electronics Co., the world's largest memory chip maker, said Wednesday it expects this year's chip demand to grow despite concerns over the novel coronavirus pandemic. During an annual shareholder meeting, Kim Ki-nam, who leads Samsung's device solutions division, said that "external uncertainties" will continue this year but global chip demand will increase. "We expect global chip demand to grow on the back of the growth of artificial intelligence and automotive semicon
March 18, 2020
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Johnson & Johnson donates W200m worth of masks and relief goods in Korea
Global health care company Johnson & Johnson has donated 200 million won ($161,000) of relief goods to medical professionals and low-income families in Korea to help alleviate the COVID-19 situation, the company said Tuesday. Johnson & Johnson’s four operations in Korea -- Medical, Janssen, Vision and Consumer -- collaborated with the Salvation Army here in distributing 20,000 KF94 masks and 4,000 emergency relief kits. “Our heart goes out for those who are fighting the s
March 17, 2020
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Exports to China recover in March
South Korea’s exports to China have been showing signs of recovery in March, as the two nations reel from the impact of the coronavirus outbreak, data from the government and the industry showed Tuesday. Korea’s daily exports to China for the period of March 1-10 reached $436 million, a 20.8 percent increase compared to the same period in February this year. Korea’s daily exports to China, however, was still 8.2 percent lower than that of the same period in last year at $47
March 17, 2020
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Samsung Biologics to develop Aprinoia's Alzheimer’s treatment
Samsung Biologics said Tuesday it has signed a deal to develop Taiwanese bio firm Aprinoia’s Alzheimer’s disease treatment. Aprinoia Therapeutics is a bioventure with specialized technology in diagnostic devices and treatments for neurodegenerative diseases. It is a leader and pioneer in the development of monoclonal antibodies against the tau protein, known to be the key trigger of Alzheimer’s. The tau protein is what binds and stabilizes the internal structures within br
March 17, 2020
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Celltrion launches Herceptin biosimilar in US
Celltrion Healthcare launched breast cancer and stomach cancer treatment Herzuma in the US market through local partner Teva Pharmaceutical. The company said Tuesday that Herzuma (trastuzumab) will be 10 percent cheaper than the original Roche drug, Herceptin. The cost of the drug to US patients will vary depending on their individual insurance plans, Celltrion Healthcare said. The trastuzumab market in North America was worth 3.8 trillion won ($3 billion won) as of the third quarter of 2019
March 17, 2020
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[Advertorial] LG Chem vows to enter top 5 global chemical company list
LG Chem has rolled out its plan to crack the top 5 global chemical company list by 2024 through change and innovation in its four key business areas. LG Chem ranked 10th best chemical firm in C&EN’s Global Top 50 chemical companies of 2018, published by American Chemical Society. Also, the company’s brand value surpassed 4 trillion won ($3.22 billion) for the first time, maintaining fourth place for two consecutive years, according to Brand Finance Chemicals 25 2020 report.
March 17, 2020
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[Monitor] Korea-US trade volume expands 32% since FTA
The South Korea-US free trade agreement -- which went into effect 2012 -- has led to an increase in trade volume by 32 percent, data from the Trade Ministry and Korea International Trade Association showed. Bilateral trade increased from $101.8 billion to $135.2 billion last year, even though Korea’s overall international trade volume dropped 8.3 percent. Automakers and chipmakers gained the most from the trade deal over the eight years, with the volume of auto exports to the US increa
March 17, 2020
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JTI Korea invites applicants for global internship in Geneva
JTI Korea said Monday it is recruiting talented youth to participate in the global internship program “Make It Bright” at its global headquarters in Geneva. The company’s Make It Bright internship program is currently being run in 33 countries. Selected trainees can choose one of the given topics to participate in the local and global presentation competition, from which they can receive professional mentoring and hands-on experience, the company said. After several stage
March 16, 2020
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SKC sells off chemical business, secures W1tr for new investment
South Korean chemical firm SKC said Monday it has secured about 1 trillion won ($814.9 million) by liquidating its stake in its chemical business to expand investment in mobility and chip businesses. SKC said Monday it has transferred a 49 percent stake in its chemical business to Petrochemical Industries Company in Kuwait and received 565 billion won Tuesday. The move will create a joint venture SK picglobal and both companies will cooperate to establish a production capacity of 100 metric
March 16, 2020
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Korean scientists develop high-filter, washable masks
Scientists from the Korea Advanced Institute of Science and Technology said Monday that they have successfully developed nanofabric mask filters that can withstand at least 20 washes and used for a month. Masks have become a high priority in South Korea since the outbreak of COVID-19. Their scarcity and the opportunistic profiteering that ensued have made the government put a cap on exports, and ration the filter mask purchases to two per person on a weekly basis. With more people resorting t
March 16, 2020
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Kakao sells part of stake in Hanjin KAL
South Korean internet giant Kakao has sold part of its stake in Hanjin KAL, having previously been expected to support Cho Won-tae in a family feud over the control of Hanjin Group, according to industry sources Monday. KaKao’s stake in Hanjin KAL, the holding entity of Hanjin Group, is now lower than 1 percent, down from a previous 2 percent, according to the sources. Kakao said that the sale of several stock items was a way to counter potential uncertainty in the market amid the coro
March 16, 2020
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Innocean Worldwide expands to Singapore, Indonesia
Innocean Worldwide said Monday that it has opened new overseas offices in Singapore and Indonesia to strategically target the Asia-Pacific market. The global marketing communication unit of Hyundai Motor Group said that the two units will help it expand outside South Korea and create synergies in global markets. Innocean currently operates overseas offices in India and Australia. The company said the Indonesian office will respond to Hyundai Motor’s sales and marketing serv
March 16, 2020