Most Popular
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Slew of top K-pop stars ready to return from military
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S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
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BTS-themed moon jar to be unveiled on Hangeul Day
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Samsung unveils 'personalized AI' for all devices
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Market uncertain on Korea's October rate cut despite slowed inflation
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1,430 minors investigated for drug offenses from 2018 to 2023: police
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Special counsel bill to probe first lady scrapped
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Coldplay to celebrate release ‘Moon Music’ with Han River drone show
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Handheld electric fans emit high levels of radiation: report
Handheld electronic fans emit high levels of electromagnetic radiation and should be used at least 25 centimeters from the face, according to a report by nonprofit organization Asian Citizen’s Center for Environment and Health, Monday.The ACCEH said that in its test of 13 types of handheld electronic fans purchased at shopping malls in Seoul, 12 emitted high levels of electromagnetic radiation. The tested fans emitted an average of 647.7 miligauss of electromagnetic radiation, with a low of 281m
Aug. 21, 2018
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WeWork gobbles up office leases in Seoul
Samsung Group acquired K-Twin Tower, 22-story twin buildings in central Seoul, for a whopping 720 billion won ($620 million) in February. It was a rare purchase for the nation’s largest conglomerate that has been busy selling off its own office buildings in the city center. The central location and big name tenants like Microsoft and Kim & Chang, Korea’s top law firm, were attractive enough but industry sources say it was actually latecomer WeWork, the US co-working giant that helped reduce the
Aug. 21, 2018
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Canada approves Daewoong Pharmaceutical’s BTX Nabota
South Korea’s Daewoong Pharmaceutical said Monday that Health Canada had granted marketing approval for its type A botulinum toxin drug Nabota, clearing the way for the product’s launch in North America. Nabota has been approved by the Canadian drug regulator for the treatment of wrinkles in the forehead, according to the drugmaker. It is the first of Daewoong’s self-developed drugs to be approved for sales in a major global pharmaceutical market. The regulatory clearance comes three months afte
Aug. 20, 2018
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FTC vows not to meddle in careers of former staff
Fair Trade Commission chief Kim Sang-jo vowed Monday that the FTC would never be involved in the recruitment process of its retirees amid an ongoing investigation by prosecutors into the FTC’s top officials accused of forcing conglomerates to hire its retirees. Twelve of the antitrust watchdog’s incumbent and former executives, including former chief Jeong Jae-chan, were accused of abusing their investigative power to force companies to hire FTC retirees. “The FTC will never be involved in retir
Aug. 20, 2018
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Hyundai Department Store, Amazon join hands for 'next-generation' store
Hyundai Department Store Group said Monday it has joined hands with Amazon to develop the "next-generation" retail model amid local retailers' push to adopt the latest technology to their online and offline platforms. Under the strategic collaboration agreement with Amazon Web Service Korea signed on Friday, Hyundai said it will also establish a system to analyze customer activity and expand the partnership between its information technology arm and AWS, the US retail giant's cloud computing pl
Aug. 20, 2018
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Biz sector 'gapjil' survey getting low response
Responses to yearly surveys on unfair business practices have become lukewarm, especially from franchisees and subcontractors who were expected to use the poll to report mistreatments, according to the National Assembly Budget Office on Monday.The Fair Trade Commission conducts a poll every year on both parties of business contracts, the franchisers and franchisees, as well as companies and their suppliers. The purpose is to provide a way for the parties, especially the weaker partners, to repor
Aug. 20, 2018
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China beats America as biggest market for Samsung
China accounted for more than 30 percent of Samsung Electronics Co.'s overall sales over the January-June period, industry data showed Monday, emerging as the company's largest market and outpacing the American continents for the first time.The South Korean tech giant, which posted sales of 83.9 trillion won ($74.6 billion) over the first six months of 2018, raked in 27.4 trillion won or 32.7 percent from China, the corporate data showed. It marked a sharp rise from 18.5 percent tallied in 2013.
Aug. 20, 2018
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BMW to begin massive recall Monday after engine fires
BMW's South Korean unit is set to launch a recall of 106,317 cars Monday after a recent series of engine fires.The carmaker said last month it will recall 42 different models after making emergency safety checks on all models with an exhaust gas recirculation component, which the company blamed for the recent fires.The company is putting efforts into securing the parts from its German headquarters, with a plan to complete the recall this year, according to industry sources. (Yonhap)On Wednesday
Aug. 19, 2018
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Foldable patent applications on rise in Korea
South Korean tech giants are competitively filing patents related to foldable panels in a move to make a breakthrough in the smartphone industry slowed down by limits of hardware innovation.Over the last six years, a total of 276 patents related to foldable panels were applied for in Korea, with 210 patents filed in the last three years, according to the Korean Intellectual Property Office on Sunday. LG Display has applied for the highest number of patents (94), followed by its rival Samsung Dis
Aug. 19, 2018
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Nuclear reactor shuts down for maintenance
The operator of South Korea's nuclear power plants said Saturday that it has stopped operation of a nuclear reactor in the country's southwestern nuclear complex for scheduled maintenance Hanbit 1 (KHMP)The 950-megawatt "Hanbit 1" reactor stopped operating at 10:03 a.m. for routine inspections, the Korea Hydro and Nuclear Power Co. said.The reactor is located in Yeonggwang, about 350 kilometers southwest of Seoul. Three other reactors in Yeonggwang are also undergoing maintenance. (Yonhap)
Aug. 18, 2018
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Samsung Securities cancels bid for promissory notes business
Samsung Securities Co. said Friday it voluntarily withdrew its application for the right to issue promissory notes following state penalties over its recent fat-finger chaos.The local brokerage firm has sought state approval since July last year for a license for the issuance of promissory notes in a bid to expand its business scope by taking on a role as an investment bank. Samsung Securities (Yonhap)In a regulatory filing, Samsung announced the decision of its revocation, which was made "in co
Aug. 17, 2018
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Korea, US agree to cooperate on nuclear reactor exports
Representatives of South Korea and the United States agreed to seek nuclear reactor exports at high level bilateral talks in Washington on Thursday, the Foreign Ministry said Friday.At the second meeting of the High Level Bilateral Commission, the two sides agreed to check the progress of a joint survey on the world’s nuclear reactor market and seek ways to export nuclear reactors to a third country. (Herald DB)Led by Vice Foreign Minister Cho Hyun and US Deputy Secretary of Energy Dan Brouillet
Aug. 17, 2018
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Asiana to cut back on flights to prevent delays
South Korean airliner Asiana Airlines said Friday that it would reduce the number of flights destined for certain European and US cities beginning in October, in response to instructions from the Transport Ministry to address the problem of delayed flights. The country’s No. 2 full-service carrier said it would operate only 75 flights per week to six cities in the US and six cities in Europe as of October. The current number of flights to each city is 82. The Ministry of Land, Infrastructure and
Aug. 17, 2018
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Korea Gas Corp. to invest W10tr in natural gas, hydrogen
Korea Gas Corp. will invest 10 trillion won ($8.8 billion) by 2025 in pursuit of new growth engines. The public natural gas company said it plans to invest 10 trillion won by 2025, with 6 trillion won set aside for local businesses, 3 trillion won for overseas projects and the remaining 1 trillion won for new business areas. The plan will create 70,000 new jobs for domestic businesses and 20,000 jobs for infrastructure businesses overseas, the company’s officials said.Korea Gas Corp. said it pla
Aug. 17, 2018
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Samsung Heavy wins $370 million deal for 2 LNG carriers
Samsung Heavy Industries Co., a major South Korean shipbuilder, said Friday that it has clinched a deal worth about $370 million to build two liquefied natural gas carriers for a European shipping company.Samsung Heavy said it is set to deliver the carriers, which can hold 180,000 cubic meters of LNG each, to Celsius Tankers by December 2020. This file photo provided by Samsung Heavy Industries Co. shows its liquefied natural gas carrier. (Yonhap)Samsung Heavy said it has received $3.3 billion
Aug. 17, 2018
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Jin Air to retain business license
South Korea’s Ministry of Land, Infrastructure and Transport said Friday that it had decided not to revoke the business license of Korean Air’s budget affiliate, Jin Air. The budget carrier came under fire in April for having a US citizen, Cho Hyun-min, on its board of directors. For security reasons, foreign nationals cannot serve as board members at Korean airlines under the nation’s aviation law. In April, it was revealed that Cho, the younger daughter of Korean Air Chairman Cho Yang-ho, had
Aug. 17, 2018
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KEPCO signs $37.8 mln project in Dominican Republic
The state-run Korea Electric Corp. (KEPCO) said Friday it has won a $37.8 million project to replace or build new power distribution facilities in the Dominican Republic.KEPCO received an engineering, procurement and construction (EPC) order to improve power management systems, including telegraph poles, electric wire, transformers and power meters, in the southern and eastern areas of the Caribbean nation for the next two years. Kim Jong-gap, CEO of the state-run Korea Electric Power Corp., att
Aug. 17, 2018
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LG Innotek launches visible LEDs for disinfection lighting
LG Innotek said Wednesday it has launched visible light-emitting diodes for disinfection lighting, which is a light source with the effect of sterilization by sunlight using indoor light.The company said its 405-nanometer visible LEDs can sterilize an indoor space without having to use any chemicals by removing 99.9 percent of bacteria while the light is turned on. LG Innotek said, “As this product does not harm the human body, its sterilization function can be used in places where many people p
Aug. 17, 2018
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Hanwha Energy breaks ground to build 50-MW hydrogen fuel cell plant
Hanwha Energy, the energy arm of South Korean conglomerate Hanwha Group, broke ground Thursday to build a 50-megawatt hydrogen fuel cell plant in Seosan, South Chungcheong Province.The plant is the first in the world to use byproduct hydrogen as fuel, officials said.The plant is to start commercial production from June, 2020 and is set to provide 40,000 megawatt-hours of electricity. (Hanwha Energy)To build the plant, Hanwha Energy has established a special purpose corporation named Daesan Gree
Aug. 16, 2018
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Posco Energy likely to ditch fuel cell biz: report
Posco Energy, an affiliate of South Korean steel giant Posco, appears to be in the process of ditching its money-losing fuel cell business by establishing a new joint venture with a third party, a lawmaker claimed Thursday.According to documents compiled by Rep. Kim Kyu-hwan of the main opposition Liberty Korea Party, the company has been seeking ways to spin off its fuel cell manufacturing unit first and then turning it into a joint venture with new investors. The plan is widely expected to mea
Aug. 16, 2018