Most Popular
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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S. Korea, Singapore seal supply chain agreement
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Korean language teaching expert says demand has outstripped supply
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Korea added to key bond index
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Conscripting women to lead to 'more babies,' claims military think tank
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[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
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North Korea notifies UN Command of plans to fortify border with South
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Taking away phones during school hours not a human rights violation: watchdog
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Who is pollster roiling politics with claims of government string-pulling?
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Kim Jong-un vows to thwart S. Korea-US 'nuclear alliance'
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SK Biopharmaceuticals acquires 60 percent stake in Proteovant Therapeutics at W62b
SK Group’s pharmaceutical arm, SK Biopharmaceuticals, said Friday that it has decided to acquire a 60 percent stake, or 40 million shares, in US biotech company Proteovant Therapeutics for 62 billion won ($47 million). This deal size is equivalent to 19.6 percent of the Korean company’s total equity capital. Established in New York in 2021, Proteovant Sciences is a 60:40 joint venture between Swiss biotech company Roivant Sciences and SK Group. SK Biopharmaceuticals expects that the
June 30, 2023
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SKT invests $100m in Joby Aviation to ramp up UAM business
South Korean telecom giant SK Telecom announced late Thursday it will invest $100 million to acquire a 2 percent stake in US urban air mobility firm Joby Aviation. The two forged the investment agreement on Tuesday, and vowed to strengthen their partnership in the UAM business further. The Korean mobile carrier first signed a strategic collaboration agreement with Joby Aviation in February 2022, which was expanded to include TMAP, South Korea’s largest mobility platform, in May 2022. Joby
June 30, 2023
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GS Caltex, Korean Air to test sustainable aviation fuel
South Korean oil refiner GS Caltex said Friday that it has teamed up with national flag carrier Korean Air to promote the demonstration of Sustainable Aviation Fuel to reduce carbon emissions in the atmosphere. Through the partnership, GS Caltex will supply SAF -- an alternative to conventional fossil aviation fuel produced with biological and nonbiological resources -- to Korean Air on international flights departing from Incheon. The two signed a memorandum of understanding at GS Tower in Gang
June 30, 2023
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South Korea, Japan hold in-depth talks to strengthen bilateral trade
South Korean Trade Minister Ahn Duk-geun discussed measures to strengthen bilateral trade with his Japanese counterpart Hirohide Hirai during his visit to Seoul on Friday. The bilateral talk comes as Japan has announced to reinstate South Korea as a "Group A" country earlier this week, returning to Seoul the preferential export treatment it had enjoyed until 2019. The latest decision marked the end to a trade dispute that had dragged on for four years stemming from the issue ofKoreans
June 30, 2023
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South Korea, US agree to work closely to address IRA, trade concerns
South Korea and the United States agreed to work closely to resolve concerns over the US' Inflation Reduction Act, discussing ways to strengthen battery supply chains, Thursday. South Korean Deputy Minister Joo Young-joon in charge of industrial policy at the Ministry Trade, Industry and Energy met with Deputy US Trade Representative Sarah Bianchi visiting Seoul. During the bilateral talks, Joo assessed that the two sides overall have smoothly managed the IRA issue, closely communicating vi
June 29, 2023
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Korean Air-Asiana merger faces more delay
A planned merger of South Korea’s top two air carriers is expected to face more delay as the European antitrust authorities have temporarily halted its probe into the 1.8 trillion won ($1.37 billion) high-profile deal. Korean Air said Thursday it has requested the European Commission to extend the deadline for its final decision on the merger with its smaller rival, Asiana Airlines, saying it will come up with measures to relieve their antitrust concerns. “We have asked for a deadlin
June 29, 2023
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Apple Pay sees 26m transactions in Korea in first 100 days
Over 25.8 million transactions have been made with Apple Pay since its launch on March 11, Hyundai Card announced Thursday. Among these transactions, 93 percent were made at offline retailers. The numbers, covering the period from March 21 to June 27, were part of key indicators and customer data unveiled by the Korean card company in celebration of the 100th day since the introduction of Apple Pay in Korea. Additionally, Apple Pay facilitated payment transactions for over 108,000 merchants. Amo
June 29, 2023
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[Photo News] LG's auto achievements
LG Electronics employees celebrate the 10th anniversary of its vehicle solutions business at the ceremony held at LG Sciencepark in Seoul on Thursday. The tech giant set up the automotive business unit in 2013 which turned to a profit for the first time in the second quarter of 2022. As of last year, the unit’s accumulated orders have reached 80 trillion won ($60 billion). The company aims to become a leading player in the fields of infotainment solutions, electric vehicle powertrains and
June 29, 2023
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Hyundai Steel to beef up net-zero efforts with low-carbon steel brand
Hyundai Steel has renewed its commitment to achieving its carbon neutrality goal by launching its own low-carbon steel brand, HyECOsteel, the first of its kind in the nation’s steel industry. The steelmaker said Thursday it will be ramping up marketing activities targeting automotive and shipbuilding industries around the world where calls are growing for eco-friendly efforts. The renewed marketing push comes after the company unveiled in April its carbon neutrality road map to reduce carb
June 29, 2023
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Fila releases sustainability report, bolsters product circularity
South Korean sportswear brand Fila on Wednesday released its latest annual sustainability report, as part of efforts to enforce its mid-to long-term slogan to operate a transparent and eco-friendly business. "Fila made significant strides in its pursuit of sustainability management throughout 2022," a Fila Holdings official said. "Last year was particularly meaningful in that (Fila) further strengthened (the firm's) mid- to long-term strategies in all directions of sustainabi
June 29, 2023
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Hanwha TotalEnergies completes construction of polyolefin elastomer pilot line
Hanwha TotalEnergies Petrochemical Co. said Thursday it has completed the construction of a pilot line to produce a high functional copolymer used in industrial components like car parts and wire coating. The pilot facility, located in Daesan, about 83 kilometers south of Seoul, will produce polyolefin elastomers and conduct various tests on the processing needed for the manufacturing of the material, the company said in a release. Hanwha TotalEnergies, the 50:50 joint venture between South Kore
June 29, 2023
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South Korea to release sea salt reserves amid high prices, demand
The Oceans Ministry said Wednesday it will release sea salt reserves to cope with recent price hikes and rising demand. Up to 400 tons of salt will be released to major discount chain stores and traditional markets across the country starting Thursday through July 11, and they will be retailed at about 20 percent off the consumer price for June, according to the Ministry of Oceans and Fisheries. Sea salt prices jumped more than 10 percent on-year this month due mainly to the fall in production a
June 28, 2023
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[Best Brand] Pearly Gates entices young golfers with fresh lineup
Pearly Gates, South Korean fashion company Creas F&C's luxury golf brand, has launched its brand-new spring and summer golf wear collection in a bid to ramp up efforts for growth in the burgeoning golf apparel market among young Korean consumers. For the summer, Pearly Gates released three collections under different themes: "Preppy Collection," "Flower Collection" and "Cheer up! Collection." Whilst the Preppy Collection focuses on simple designs with white
June 28, 2023
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[Best Brand] Come In Wash goes global with innovative car washing machines
Come In Wash has established itself as a leading company in the automatic car wash industry, winning accreditations from various institutions for its technological prowess. The company first garnered attention from the industry for its high-quality car wash services using an automatic, “no-touch, no-brush” car wash which became patented in 2019. In recent years, the company has earned recognition at home and globally. In 2021, it won a tech award from the Ministry of SMEs and Startup
June 28, 2023
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[Best Brand] HK inno.N’s anti-aging products make overseas foray
HK inno.N, a South Korean pharmaceutical firm, has launched its anti-aging skincare brand bewants in overseas markets amid the craze for K-beauty products. The Korean pharmaceutical company's skincare brand bewants targets people aged between 20-30. The brand's lineup includes a wide range of skincare products that use plant-based extracts. In June, the company launched a lifting cream with both soothing and lifting effects. “Backed by increasing popularity in the local market, t
June 28, 2023
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‘U-shaped’ recovery forecast for trade
South Korea's trade deficit will persist in the second half of this year, following the same pattern observed in the first half, according to a Korean trade lobby group on Wednesday. Nevertheless, there is anticipation for a gradual recovery resembling a "U-shape" in the long term, as the trade deficits continue to decrease steadily. “It is difficult to anticipate a V-shaped recovery. Although we are uncertain about the duration, we expect to see a U-shaped recovery,”
June 28, 2023
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[Best Brand] Easydew releases new high-tech skin care lineup
Easydew, the skin care brand under Daewoong Pharmaceutical, said it will be releasing a new line of functional cosmetics amid the increased demand for beauty products that provide health benefits. Daewoong Pharmaceutical said Easydew recently unveiled a new product line dedicated to targeting hyperpigmentation and freckles. The lineup consists of three products including Melatoning Cream, Melatoning Sun Cream, and Melatoning Sun Cushion. According to the pharmaceutical firm, the products offer p
June 28, 2023
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[Best Brand] Shinhan's spring-inspired card offers excellent cash back rewards
Shinhan Card's spring-themed credit and debit cards have been well received by customers by providing excellent benefits and discounts at various stores both within and outside of Korea. The cards are named "Bom," a Korean word that holds dual meanings. Firstly, as a noun it can be translated to "spring," representing the beginning of the four seasons. The Korean company said it chose this name to show that its new card's concept symbolizes support for a vibrant and
June 28, 2023
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[Best Brand] 1879 Gangnam Wine School aims to foster wine experts
Established to concentrate on cultivating wine experts through its wine expert course, 1879 Gangnam Wine School aims to provide systematic and high-quality education through its sisterhood with Universite Du Vin, one of France's top three wine universities, founded in 1978. Since its opening in May 2007, Gangnam Wine School has operated its Wine CEO Master Course, with the 48 ongoing courses as of 2023. The 1879 Wine CEO Master Course is a wine culture program targeting CEOs, professionals
June 28, 2023
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Head of construction giant hands out cash to hometown residents
Every household in a small rural village in Suncheon, South Jeolla Province, received cash gifts up to as much as 90.2 million won ($69,000) per household in the past month. The generous donor was Lee Joong-keun, the 82-year-old founder of property developer Booyoung Group, who grew up there in poverty and wanted to express his “thanks to the support of villagers.” According to the conglomerate, all 280 households in its chairman's hometown of Unpyeong-ri were wired cash, rangin
June 28, 2023