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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Chinese travelers pay by cellphone nearly 90 percent of time at CU
Chinese tourists in Korea are increasingly shopping with mobile phones instead of using China-based bank card giant UnionPay’s cards, according to convenience store chain operator CU on Wednesday.CU analyzed payments made through UnionPay cards and mobile payments for the first half of 2018 and said 87.2 percent of the payments were done through Chinese mobile payment services such as Alipay and WeChat Pay. Payments through UnionPay decreased to 12.8 percent. Caption: A CU store has signs to inf
July 25, 2018
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Samsung BioLogics obtains first US FDA approval for finished drug production
South Korean contract drug manufacturer Samsung BioLogics said Wednesday that it has been licensed for the first time by the US Food and Drug Administration to manufacture a monoclonal antibody drug product in its fully-packaged format at its first plant. The FDA approval signifies that the given drug product manufactured at Samsung BioLogics can now be sold in the US market.Biologics production comes in two main formats: drug substance and drug product. The former refers to the drug substance i
July 25, 2018
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Britain's Dyson files lawsuit against LG in S. Korea
British home appliance maker Dyson Ltd. filed a lawsuit against LG Electronics Inc. at a local court, industry sources said Wednesday, claiming that the South Korean company's advertisements are misleading customers.According to the sources, Dyson sued LG at the Seoul Central District Court, saying LG's advertisement for the Cord Zero A9 cordless vacuum cleaner exaggerated performances and misinformed users.The latest move comes as a follow-up to the injunction filed by Dyson in November last ye
July 25, 2018
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SK E&C sends helicopters, boats to Laos dam collapse site
The collapse of a hydroelectric dam in Laos that was under construction by SK Engineering & Construction forced over 7,000 people to flee their homes Tuesday. SK E&C said it sent helicopters and boats for the rescue operation, and is investigating whether construction failure or heavy rain was responsible for the flooding. People wait for rescue operation after their houses were waterlogged by the collapse of the hydroelectric dam in Laos. (Yonhap)According to SK E&C, damage to one of five dams
July 25, 2018
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Samsung expected to showcase new smartwatch soon
Samsung Electronics Co. is widely expected to unveil its new smartwatch soon, possibly around the time it takes the wraps off its Galaxy Note 9 phablet slated for next month, industry sources said Wednesday.According to US tech media CNET, Samsung accidentally leaked the image of the upcoming smartwatch on its US website, which was removed later.An official from the South Korean tech giant, meanwhile, claimed the company has no fixed plans for the release of new devices other than its new phable
July 25, 2018
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SK E&C sets up crisis management teams to deal with deadly flood in Laos
SK Engineering and Construction said Tuesday that it has formed a crisis management team to respond to a deadly flood in Laos that affected a dam it built in the country.The company said its President Ahn Jae-hyun and senior company officials have left for the Southeast Asian country to figure out the scope of the damage caused by the flood, which occurred late Monday, and to support rescue operations there.The builder said huge amounts of water flooded over the Xepian-Xe Nam Noy hydropower plan
July 24, 2018
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Lotte, Shilla, Shinsegae, Doosan submit bids for duty-free shop at Gimpo airport
South Korea's leading retail conglomerates have submitted their bids for the operating rights for a duty-free shop at Gimpo International Airport, industry sources said Tuesday.The four firms -- Lotte Group, Hotel Shilla, Shinsegae Group and Doosan Group -- have joined the auction to operate the liquor and tobacco duty-free shop at the airport in western Seoul, a person with direct knowledge of the matter told Yonhap News Agency. (Yonhap)"The Korea Airports Corp. will select two bidders out of
July 24, 2018
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Jin Air to hold rally against license revocation
Jin Air employees plan to hold a rally Wednesday against the Transport Ministry’s decision to have a hearing on whether to revoke the business license held by Korean Air’s budget affiliate Jin Air. The budget carrier is under fire for violating the nation’s aviation law that bans airliners from seating foreign members on their board of directors.Employees said Tuesday they will gather in front of the government complex in Jongno-gu, central Seoul, at 7 p.m. Wednesday. The protest is geared to cr
July 24, 2018
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Ministry conducts special probe into Asiana Airlines
The Ministry of Land, Infrastructure and Transport said that it is looking into Asiana Airlines after over 60 flights were delayed from their original schedule since earlier this month. It has been speculated that the company is suffering from a lack of maintenance staff and budget for repair. According to Asiana Airlines, the departures of some 60 flights were delayed for at least one hour since July 15. The company said the delays were due to normal airplane maintenance prior to takeoff, but s
July 24, 2018
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[Advertorial] LG Chem supports social enterprises via LG Social Campus
LG Chem, the chemicals and biopharma business unit of South Korea’s LG Group, is carrying out corporate social responsibility activities under its slogan of being a “solution partner” to provide solutions for social minorities and entrepreneurs, the company said Tuesday.Together with LG Electronics the company runs LG Social Campus, helping social enterprises by providing loans without interest, renting out workspace and educating workers. It has provided funds of some 13 billion won ($11.4 mill
July 24, 2018
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1,000 hydrogen-powered buses to be on road in Korea by 2022
A thousand hydrogen-powered buses are slated to hit the road in South Korea by 2022, starting with five cities, including Seoul and Ulsan next year. At a meeting convened Tuesday by the minister of trade, industry and energy, Paik Un-gyu, the government said it would ease regulations on production and transportation of hydrogen-powered buses. The meeting was attended by Korea Gas Corp. President Cheong Seung-il, Hyundai Motor Vice President Park Kwang-sik and the heads of four related companies.
July 24, 2018
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Global pharma firm leaders laud Korea's clinical trial development
South Korea has high potential to become a major part of the global biopharma business ecosystem with its openness for collaboration and swift clinical trial process, according to executives of major multinational pharma firms operating in Korea. “High technology, good work ethics and talented people are making Korea a good breeding ground for collaboration,” Christophe Piganiol, president of Zuellig Pharma Korea, said during a roundtable discussion earlier this month co-organized by The Korea H
July 24, 2018
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[Newsmaker] Samsung, victims agree to accept upcoming mediation on work-related illness
Samsung Electronics Co. and the advocacy group representing victims of work-related diseases Tuesday inked an agreement to accept upcoming mediation on the long-standing dispute surrounding compensation, which has lasted more than 10 years.In a landmark decision to end the long drawn-out case, the tech giant decided to accept any proposal made by the mediation committee, which will be delivered in two months. The Supporters for the Health and Rights of People in the Semiconductor Industry also d
July 24, 2018
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Samsung BioLogics Q2 operating profit jumps 137% to W23.7b
Samsung BioLogics, a contract drug manufacturer under South Korea’s Samsung Group, said Monday that its operating profit rose 137 percent on-year to 23.7 billion won ($20.95 million) in the second quarter on the back of increased production at its second plant. Revenue in the April-June period came in at 125.4 billion won, down 4.3 percent on-year, due to spending on preparatory procedures for a new production cycle at the first plant, the company said.In terms of net profit, Samsung BioLogics
July 23, 2018
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China’s anti-dumping probe raises fear among S. Korean steelmakers
The Chinese government is set to launch an anti-dumping probe into imported steel products from countries including South Korea, raising concern among local steel companies struggling against rising protectionist measures.China’s Commerce Ministry said via its website Monday that it would look into stainless steel billet and hot-rolled stainless steel plates from South Korea, Japan, the European Union and Indonesia. The probe has been launched at the request of a Chinese steel company, the minis
July 23, 2018
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##[Advertorial] Eximbank funds $70m for Jeju Air’s plane purchase
[Advertorial] Eximbank funds $70m for Jeju Air’s plane purchaseThe Export-Import Bank of Korea (Eximbank) said Monday that it is providing funds of $70 million to low-cost carrier Jeju Air to help purchase two Boeing B737-800 planes. The planes are the first to be purchased by the budget airline. They are of the same model as the airline’s existing planes following the company’s single-type-plane policy to maintain low-cost services. The country’s biggest budget airline by sales currently operat
July 23, 2018
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Customs office seeks arrest warrant for Korean Air heiress
A regional customs office on Monday sought an arrest warrant for a former vice president of Korean Air Lines Co. over smuggling and tax evasion allegations, sources said.Cho Hyun-ah, the eldest daughter of Hanjin Group Chairman Cho Yang-ho, is suspected of bringing personal goods purchased overseas into the country without paying taxes. She allegedly had them delivered to her via Korean Air planes. Cho gained notoriety for her nut rage tantrum that delayed a flight in 2014. Cho Hyun-ah (Yonhap)T
July 23, 2018
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Tribunal upholds tax office’s taxation of Philip Morris Korea
A protracted tax conflict is likely to run on between tax authorities here and Philip Morris Korea, the local unit of the global tobacco company, as the Tax Tribunal has dismissed an appeal filed by the company and the latter is set to file an administrative lawsuit.Some 210 billion won ($186 million) in tax -- national and local taxes combined -- is to be at stake, depending on the results of the upcoming litigations on whether the top tobacco maker dodged taxes by manipulating its inventory re
July 23, 2018
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Qualcomm refutes FTC’s claims in first trial on W1tr penalty
Legal representatives of Qualcomm on Monday refuted the Korean antitrust watchdog’s claim that it had an “unfair business model” during the first hearing to take place since the chipmaker filed an appeal to the Seoul High Court in February 2017 against over 1 trillion won ($885 million) in penalties.In December 2016, the FTC found Qualcomm guilty of monopolistic practices, imposing penalties and ordering the company to carry out renegotiations with its clients over patent use. One of the key poi
July 23, 2018
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BAT Korea launches new HNB tobacco Glo Series 2
BAT Korea unveiled Monday its upgraded heat-not-burn tobacco heating device Glo Series 2 and flavor-intense HNB tobacco stick Neo, designed exclusively for the Glo device.Models pose with BAT Korea’s latest heat-not-burn tobacco device Glo Series 2 during a press conference in Seoul on Monday. (BAT Korea)BAT Korea showcased Glo Series 2 for the first time globally during a press conference in Seoul. “Korea has always been a very important market for BAT. The size of our operation here and invest
July 23, 2018