Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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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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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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First lady’s Dior bag scandal to be at center of Assembly audit
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Firefighters’ 3,000 won meals spark nutrition concerns
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Korean EV battery makers' market share up in Oct.
South Korea's major electric vehicle battery producers increased their market share in October, despite a slowdown in global EV battery use, industry data showed Thursday.Based on the global usage of their EV batteries, the combined market share of three South Korean EV battery makers -- LG Chem Ltd., Samsung SDI Co. and SK Innovation Co. -- stood at 22.4 percent in October, compared with 12.3 percent from a year earlier, according to data from market tracker SNE Research.LG Chem was the third-b
Dec. 19, 2019
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‘SK Holdings, AstraZeneca’s partnership benefits 3 million diabetic patients’
SK Holdings and British-Swedish pharmaceutical firm AstraZeneca on Thursday said their strategic partnership has so far produced medication for some 3 million diabetic patients and yielded annual revenue of $100 million. SK Holdings CEO Jang Dong-hyun and AstraZeneca Chairman Leif Johansson agreed to strengthen their collaborative efforts for mutual benefit during a meeting in Seoul, held as part of the Korea-Sweden summit talks.Sweden’s Minister for Foreign Trade Anna Hallberg, Yu Jeoung-
Dec. 19, 2019
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SsangYong Motor workers OK self-rescue measures amid sales slump
Workers at SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., Thursday accepted a cut in bonuses and other cost-saving measures proposed by the company amid declining sales.SsangYong Motor workers have agreed to the company's proposals that require them to return some of their annual bonuses and performance-based pay, the company said in a statement. In September, SsangYong Motor proposed some cost-saving plans to its 5,046 employees. The plans include si
Dec. 19, 2019
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Delivery Hero to conquer S. Korea's delivery app market: data
Germany-based online delivery service provider Delivery Hero is forecast to take control of South Korea's food delivery app market following its proposed megadeal to buy the country's top food delivery app operator, Woowa Brothers Corp., industry data showed Thursday.On Friday, Delivery Hero announced that it will acquire an 87 percent stake in Woowa Brothers, the operator of delivery app Baedal Minjok, or Baemin, from existing investors such as Goldman Sachs and Singaporean fund GIC. The German
Dec. 19, 2019
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Daewoong’s wrinkle-smoothening Nabota to enter UAE, Indonesia
Daewoong Pharmaceutical’s botulinum toxin Nabota has acquired the United Arab Emirates and Indonesian health authorities’ approvals for forehead wrinkle smoothening functions, the company said Thursday. This is the first time a Korean BTX has forayed into the two countries, characterized by their halal customs and the untapped, sizable markets. “Both UAE and Indonesia are posting continuous growth of their pharmaceuticals markets,” said Park Sung-soo, head of Daewoong&
Dec. 19, 2019
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Posco International completes solar power system in Myanmar
Posco International has completed a solar power system in Manaung Island, Myanmar, to provide electricity to around 1,000 households, the firm said Thursday. The photovoltaic system built by Posco International is a combination of 500 kilowatt power generation and 2,000 kilowatt-hours of energy storage system. It is capable of providing power to around 1,000 households in Manaung Island, Rakhine state situated on the western coast of the nation with about 60,000 inhabitants. Through the pr
Dec. 19, 2019
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Exports of farm goods up despite overall trade slump
South Korea's outbound shipments of agricultural products edged up in the January-November period from a year earlier, data showed Thursday, although other sectors faced an extended slump in outbound shipments.The country's exports of agricultural goods grew 0.8 percent to reach $6.41 billion in the first 11 months of the year, according to the Korea Agro-Fisheries & Food Trade Corp. Outbound shipments of fresh goods especially shot up, rising 7 percent on-year to hit $1.23 billion, and expo
Dec. 19, 2019
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Samsung heir, Swedish tycoon Wallenberg discuss AI, 5G network cooperation
Samsung Electronics Vice Chairman Lee Jae-yong has met with the point man of Swedish business dynasty Wallenberg Group to discuss cooperation opportunities, company officials said Thursday.Lee, the de facto leader of Samsung Group, spoke with Marcus Wallenberg, a key member of the Wallenberg family who also heads financial group SEB AB, on Wednesday during a South Korea-Sweden business summit in Seoul, according to them.Wallenberg came to South Korea as part of a business delegation accompanying
Dec. 19, 2019
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Samsung's policy shift toward allowing labor union in offing
South Korea's top conglomerate Samsung Group, known to stick with 'no-union' policy, has hinted at changing its unfriendly stance towards labor unions after key company executives were found guilty of union busting, industry observers said Thursday.A day after Samsung Electronics Co. board chairman Lee Sang-hoon was sentenced to 18 months in prison for sabotaging a labor union, Samsung issued a public apology and promised to make a "healthy labor-management relationship." Of the 32 ind
Dec. 19, 2019
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Hyundai Mobis to unveil upgraded autonomous concept at CES
Hyundai Mobis Co., South Korea's biggest auto parts maker, said Thursday it will unveil an upgraded autonomous concept car at the annual Consumer Electronics Show, the world's biggest consumer technology-focused conference, in the United States next month.Hyundai Mobis plans to promote its fully autonomous M.Vision S concept and a hydrogen fuel cell electric system for hydrogen-powered vehicles at CES in Las Vegas, the company said in a statement.Hyundai Mobis has invested in overseas startups w
Dec. 19, 2019
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LG recalls clothes dryers in S. Korea
LG Electronics Inc. on Wednesday announced a voluntary recall of its clothes dryers sold in South Korea following customer complaints over a key component. "Although we couldn't find safety issues or defects regarding our dryers, we decided to voluntarily recall the products in order to serve our customers sincerely," LG said in a statement. The electronics maker said it will expand free services to repair the dryers. Previously, LG sent servicemen upon consumers' request, but now the
Dec. 18, 2019
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Jeju Air to acquire budget airline Eastar Jet at W69.5b
Jeju Air, the country’s largest low-cost carrier by sales, said Wednesday that it had signed a deal to acquire 51 percent stakes in Eastar Holdings, the largest shareholder of a budget carrier Eastar Jet, in an apparent move to broaden its market share by absorbing an ailing air carrier. Earlier this year, cosmetics-to-airline conglomerate Aekyung Group, which owns a 56.9 percent stake in Jeju Air, failed to takeover debt-ridden Asiana Airlines after the HDC Hyundai Development-Mirae
Dec. 18, 2019
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Asiana introduces mobile service to check baggage loading status
Asiana Airlines said Wednesday it has introduced a mobile service for passengers to check whether their baggage is safely loaded.Those who fly with Asiana can check the status and the location of the baggage real-time via the carrier’s mobile application.The service will enhance passenger convenience and minimize the departure delay as location of luggage can be tracked during emergencies and baggage can be easily removed when the passenger gets off the plane, the company said.While the se
Dec. 18, 2019
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McDonald’s Korea manager touches heart with story of helping disabled customer
McDonald’s Korea Managing Director Melanie Cho visited a store on Jeju Island to express her appreciation to a store manager there for helping a young customer who was terminally ill and offering him an unforgettable restaurant experience, the company said Wednesday. According to McDonald’s Korea, Lee Sung-min, a 20-year-old store manager of Nohyung branch in Jeju, helped a family with a child suffering from polio in May. He moved the family’s seat to a more comfortable ch
Dec. 18, 2019
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Noul‘s innovative Malaria diagnosis solution acknowledged at Grand Challenges Meeting
Blood cell diagnosis startup Noul was acknowledged at the 2019 Grand Challenges Annual Meeting for its innovative Malaria diagnosis solution, miLab, the company said Wednesday. The Grand Challenges Meeting is an annual gathering of global organizations promoting global health care. This year’s event held in Addis Ababa, the capital city of Ethiopia, was co-hosted by the African Union, Ethiopia’s Ministry of Health, Grand Challenges Canada, the United States Agency for International D
Dec. 18, 2019
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Chips, cars, biomedicines to lead 3% export growth next year: KOTRA
South Korea’s exports are forecast to rise by 3 percent in 2020 to exceed $550 billion, led by key industries including chips, automobiles and biomedicines, according to a state-run trade agency on Wednesday. This year’s exports are expected to total $540 billion, down 10.7 percent from last year, the Korea Trade Investment Promotion Agency said. This is a bit lower than the Korea International Trade Association’s prediction of $543 billion, which represented a 10.2 percent on-
Dec. 18, 2019
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S-Oil collects donations for children with biliary obstruction
South Korean oil refinery S-Oil, which is wholly owned by Saudi Aramco, has donated 145 million won ($130,000) to help children in low-income families suffering from biliary obstruction, the firm said Wednesday.The fund has been gathered by some 1,800 company executives and employees donating less than 10,000 won each from their wage for several months, the company explained.Biliary obstruction occurs when one of the ducts that carry bile from liver to the intestine gets blocked. Without treatme
Dec. 18, 2019
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Hyundai Heavy fined W21b for violating subcontracting law
South Korea's antitrust regulator said Wednesday it fined Hyundai Heavy Industries Holdings Co., the nation's largest shipping conglomerate, 20.8 billion won ($17.8 million) for allegedly violating a law on subcontracting. Hyundai Heavy is accused of forcing its subcontractors to start works without prior notification about the values of the contracts between 2014 and 2018, the Fair Trade Commission said in a statement. Also, Hyundai Heavy had unilaterally demanded its subcontractors cut pr
Dec. 18, 2019
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DRAM spot prices rebound, boding well for S. Korean chipmakers
Spot market prices for DRAM chips have begun to rebound this month, a market report showed Wednesday, boding well for South Korean chipmakers that are eager to improve their earnings.The spot price of 8-gigabit DDR4 DRAM, a benchmark price for the category, reached $3.02 as of Tuesday, rising more than 10 percent from a year low of $2.73 on Dec. 5, according to market tracker DRAMeXchange.DRAM spot quotes surged 24 percent in 10 days during July following Japan's export curbs on key semiconducto
Dec. 18, 2019
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EU opens in-depth review of Hyundai Heavy's acquisition deal
The European Union has launched an in-depth review of the proposed deal by South Korean shipbuilder Hyundai Heavy Industries to take over its smaller local rival, Daewoo Shipbuilding & Marine Engineering Co. The world's single largest economic bloc's European Commission said it will decide by May 7 whether the takeover, if completed, is likely to significantly impede effective competition.The commission has expressed concerns after its preliminary investigation that the merger between the tw
Dec. 18, 2019