Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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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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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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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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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Nearly half of convenience stores suffer deficits: lawmaker
Approximately 48 percent of franchisees of major convenience store chains here such as CU, GS25 and 7-Eleven suffered deficits last year amid severe market saturation, a lawmaker said Tuesday, citing industry data.Based on convenience store association data, disclosed by Rep. Woo Won-shik from the ruling Democratic Party, 47.8 percent or 15,819 of the country’s total 33,068 convenience stores as of last year reported sales of less than 1.5 million won ($1,255) per day. Among them, 20
Oct. 8, 2019
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KITA holds Korea-Germany tech conference
The Korea International Trade Association on Tuesday held a seminar on technological cooperation between Germany and Korea to explore ways to improve the competitiveness of the materials, parts and equipment industries, in response to growing uncertainty in the global trade market. Over 150 participants from Korean and German companies and research organizations joined the event to seek breakthroughs through supply chain diversification and technology exchanges amid an uncertain trade market due
Oct. 8, 2019
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Samsung Electronics' Q3 earnings more than halve, beat market consensus
Samsung Electronics Co. said Tuesday its operating earnings plunged 56 percent in the third quarter from a year earlier, mainly hit by continuing falls in global chip prices, but its performance was better than the market had expected.The operating profit was estimated at 7.7 trillion won ($6.4 billion) in the July-September period, according to its earnings guidance. The figures were above market expectations of 6.99 trillion won, according to the report by Seoul-based financial market tracker
Oct. 8, 2019
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Hyundai Motor, Doosan Fuel Cell join hands for hydrogen fuel cell development
Hyundai Motor Group and Doosan Fuel Cell have agreed to co-develop and jointly study hydrogen fuel cell systems and generation networks, the two firms said Monday.According to the companies, Hyundai Motor Group, Doosan Fuel Cell and a state-run automotive parts innovation center called Ulsan TechnoPark signed a memorandum of understanding to cooperate on hydrogen-based microgrid demonstration project, aimed to create an independent hydrogen fuel cell energy network. They will develop new b
Oct. 7, 2019
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Medytox says its BTX forms spores too
Medytox on Monday said its botulinum toxin (BTX) strain formed spores when tested according to the Daewoong Pharmaceutical way, in yet another turn amid the ongoing legal battle between the two firms.Medytox alleges Daewoong stole its BTX strain and trade-secret separation and purification method through a former Medytox employee who joined Daewoong.The firms have ongoing suits in Korea and the US. Daewoong’s BTX Nabota is making inroads to the US and Europe, under the names Jeuveau and Nu
Oct. 7, 2019
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[Photo News] BTS Lens sold at Lotte World Tower
An employee promotes contact lenses featuring Korean boy band BTS that is being sold at Avenuel World Tower branch of Lotte World Tower in Jamsil, Seoul, until this Wednesday. The event that offers free BTS posters along with other souvenirs for those purchasing “Boy with love” color contact lenses is co-organized by Big Hit Entertainment and lens provider Metaphor SC, Lotte said. (khnews@heraldcorp.com)
Oct. 6, 2019
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Korean game companies offer unusual welfare programs
Once notorious for painstakingly long working hours and unfavorable conditions, game companies here are making a 180-degree-turn, offering workplace benefits that stretch beyond conventional areas.In-house day care for children, various classes to help employees develop their skills, gyms, libraries and lavish cafeteria meals are no longer unusual at these companies, according to industry sources.But Kakao Games and Pearl Abyss have other benefits that are more unusual. Kakao Games offers, among
Oct. 6, 2019
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SK Plasma to export plasma-derived product to Brazil
SK Plasma announced Sunday that the company has been selected as one of the suppliers for intravenous immunoglobulin to treat patients with antibody deficiencies, in a blood product bidding for 2020 by the Brazilian government.According to the firm, the estimated export amount is to be around $20 million.SK Plasma, which span off from SK Chemicals’ Life Science business in 2015, deals with plasma derived products that are medicines used to treat such diseases as congenital immunodeficiency
Oct. 6, 2019
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HHI-DSME merger faces growing opposition from workers
Hyundai Heavy Industries has been grappling with growing opposition from workers against a merger with Daewoo Shipbuilding & Marine Engineering. In March, HHI signed a formal deal, worth an estimated 2 trillion won ($1.7 billion), with the state-run Korea Development Bank to buy its smaller rival DSME. The deal will be completed when the world’s two largest shipbuilders get approval from antitrust watchdogs in Japan, China, Kazakhstan and the European Union. The authorities will r
Oct. 6, 2019
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Hyundai Heavy faces protracted wage dispute
Hyundai Heavy Industries Co., South Korea's top shipbuilder, is likely to have a lengthy standoff with its labor union over this year's wage deal, industry watchers said Sunday, adding a burden to its already struggling business. Hyundai Heavy has held 16 rounds of wage negotiations with the union since May 2, but the sides have yet to find common ground. "There is a possibility that this year's wage agreement cannot be reached by end of this year," an officia
Oct. 6, 2019
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Moon vows to invite foreign multinationals to Kaesong
President Moon Jae-in said Friday that he would seek to turn the Kaesong industrial complex into a factory zone for foreign corporations, if the manufacturing village in North Korea’s border city resumes operation.Moon was speaking at a luncheon with business representatives in South Korea. The remarks came a week after he, in an address delivered at the United Nations, urged support from the international community for designating areas linking the truce village of Panmunjeom and Kaesong
Oct. 4, 2019
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Lancet publishes safety trial results for Yuhan's 3rd gen. cancer drug
The results of phase 1 and 2 clinical studies for Yuhan’s cancer drug lazertinib, suggesting that it has a “tolerable” safety profile and warrants further clinical investigation, were published in the prestigious journal the Lancet Oncology, the company said Friday.The Lancet, founded in 1823, is an international weekly medical journal.Lazertinib is an irreversible, third-generation, mutant-selective, EGFR tyrosine kinase inhibitor. Yuhan hopes it can provide another option for
Oct. 4, 2019
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More than 300 cases of Invossa side effects reported
More than 300 cases of Invossa side effects have been reported, the National Assembly’s Health and Welfare Committee said Friday. Invossa is the first-ever gene therapy drug from Korea that treats joint inflammation. Kolon Life Science acquired the sales approval of the drug in July 2017, only to have it revoked this May after the company admitted mislabeling the drug’s main ingredient.When applying for Invossa’s commercialization with the Ministry of Food and Drug Safety here,
Oct. 4, 2019
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Lotte was No. 1 violator of FTC sanctions between 2014 and 2018
Over the past five years, Lotte Group was the South Korean conglomerate that received the highest number of sanctions from the nation’s antitrust watchdog, data showed Friday. According to the data supplied by Rep. Chun Hae-chul of the ruling Democratic Party of Korea, the Fair Trade Commission sanctioned Lotte on 81 occasions between 2014 and 2018. The group that received the next-greatest number of sanctions was Hyundai Motor Group with 76, followed by Kolon Group with 63, SK Group with
Oct. 4, 2019
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SK Telecom to supply 5G network tech to Japan's Rakuten: sources
SK Telecom Co. will supply its fifth-generation network solutions to Japanese e-commerce giant Rakuten Inc., industry sources said Friday, as South Korea's top mobile carrier expands its presence in the sector.SK Telecom will export its 5G network designs, optimized communication quality solutions for 5G, 5G antennas, and radio frequency transmission technologies, according to the sources. SK Telecom did not reveal the value of the deal, but industry insiders speculate Rakuten will invest more t
Oct. 4, 2019
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Debts of public institutions under Trade Ministry rise to W182tr
Public institutions affiliated with the Ministry of Trade, Industry and Energy have not recovered financially from past failures of overseas resource development projects, data showed Thursday.According to data supplied by Rep. Wi Seong-gon of the ruling Democratic Party of Korea, the combined debt of 41 ministry-affiliated public institutions stood at 182 trillion won ($150 billion) last year, up 8 trillion won from the previous year. “The debt of the public organizations has grown
Oct. 3, 2019
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Posco crosses crude steel output milestone
South Korean steelmaker Posco said Thursday it has hit the 1-billion ton milestone of crude steel production since 1973, amid intensifying oversupply globally. The volume is equivalent to the material needed to produce 1 billion midsized cars or 20,000 units of Lotte Tower, the nation’s tallest skyscraper in Seoul.Posco began producing the first molten metal at its blast furnace in 1973. It produced 1 million tons of crude steel, supplied steel for 25,000 cars and provided 12,000 compensat
Oct. 3, 2019
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Invossa aftereffects course over to other gene therapy companies
The Ministry of Food and Drug Safety inspected six gene therapy companies as a follow-up measure to the Invossa issue, a wire report said Thursday.Invossa, a gene therapy for joint inflammation treatment by Kolon Life Science, was stripped of its sales approval in May this year after the company belatedly reported a mislabeling of the key cell used in the drug. Invossa obtained the MFDS approval in July 2017 and started commercial sale in November of the same year.While attempting to make inroad
Oct. 3, 2019
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Samsung, LG take top spots in Consumer Reports' best TV list
South Korea's top two electronics brands, Samsung Electronics Co. and LG Electronics Inc., took up four of the top-five recommended small flat-screen TVs in the United States, industry sources said Thursday.Among 32-inch flat-screen TVs available in the market, Samsung took up the top two seats, followed by LG in the third and fourth spots, according to Consumer Reports. Samsung's QLED 4K TV took the top position for its top-notch resolution and connectivity with other smart devices, the US indu
Oct. 3, 2019
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Daewoong’ BTX gains European approval
Daewoong Pharmaceutical’s botulinum toxin Nuceiva was greenlighted by the European Commission for commercialization, Daewoong said Wednesday. US’ Evolus, the exclusive partner of Daewoong, plans to roll out Nuceiva in Europe from 2020 as forehead wrinkle smoothening treatment. Nuceiva is known as Navota in Korea and Jeuveau in the US. Daewoong put emphasis on having made inroads to both US and Europe markets, which together account for approximately 70 percent of the world&rsqu
Oct. 2, 2019