Most Popular
-
1
S. Korea, Singapore seal supply chain agreement
-
2
Netflix, streaming platforms come under fire for loose ratings
-
3
North Korean troops killed, wounded in Ukraine war: Seoul defense minister
-
4
Korean language teaching expert says demand has outstripped supply
-
5
20 minors registered as CEOs making over 100 million won
-
6
[KH Explains] Samsung chief says he is still ‘hungry’ for foundry growth
-
7
Conscripting women to lead to 'more babies,' claims military think tank
-
8
K-pop CEOs sidestep key issues at National Assembly audit
-
9
Who is pollster roiling politics with claims of government string-pulling?
-
10
Man killed by fellow hunter who mistook him for wild boar
-
ABL Bio inks $1.06b deal with Sanofi for Parkinson's disease treatment
South Korea's biotech company ABL Bio Inc. said Wednesday it has entered a global license agreement worth $1.06 billion with pharmaceutical giant Sanofi to develop and commercialize an antibody candidate to treat Parkinson's disease. ABL301 is a preclinical antibody therapeutic under development as a potential treatment of synucleinopathy, including Parkinson's disease. Under the agreement, ABL will receive $75 million in upfront payments and is eligible to receive up to $985 million based on
Jan. 12, 2022
-
Convenience store chain CU opens 50th outlet in Malaysia
CU, South Korea's top convenience store chain, said Thursday it has established its 50th outlet in Malaysia as part of its overseas push. The opening comes nine months after CU set up its first outlet at a shopping mall in a middle-class neighborhood in the Malaysian capital of Kuala Lumpur in a tie-up with a Malaysian firm. In October 2020, BGF Retail Co., the operator of CU, signed a brand licensing deal with Mynews Holdings, the No. 2 convenience store chain in the Southeast Asian country.
Jan. 12, 2022
-
Zara launches daily hanbok collection for children
Zara, the global fast-fashion clothing retailer, said on Tuesday that it has rolled out a kids collection of modern hanbok exclusively for the Korean market. The collection was unveiled ahead of the Lunar New Year holiday that kicks off later this month. It includes durumagi-inspired coats, vests, dresses, norigae or decorative pendants, lucky pouches, socks and shoes. The collection is available for children aged six months up to five years, the company said. “The modern reinterpretatio
Jan. 11, 2022
-
Will Samsung’s ‘Tiger’ strategy work against Apple?
Samsung Electronics unveiled its “Tiger” strategy at CES 2022 to beat Apple in the flagship smartphone market, but experts say that the South Korean tech giant should first come up with “killer content” for its foldable smartphones for that strategy to work. During the world’s largest tech show held in Las Vegas last week, The Korea Herald exclusively reported on the South Korean tech giant’s “Tiger” strategy, which revolves around narrowing its
Jan. 11, 2022
-
Hanmi Pharmaceutical to make Indian COVID-19 vaccine
Hanmi Pharmaceutical will begin producing ZyCoV-D, the plasmid DNA COVID-19 vaccine developed by India’s pharmaceutical firm Zydus Cadila, starting in the second quarter of this year, the company said Tuesday. Hanmi Pharmaceutical on Friday signed a contract with local biotech company Enzychem Lifesciences for a consignment manufacturing agreement of the Indian vaccine. Previously, Enzychem Lifesciences signed a license-out deal with Zydus Cailda at the end of last year. The two Korean
Jan. 11, 2022
-
SK Pharmteco to push for pre-IPO this year
SK Pharmteco, SK Inc.’s subsidiary of contract development and manufacturing organization, is planning for a pre-initial public offering this year, the group’s holding company SK Inc. said Tuesday. "SK Pharmteco will hold an advantage in the global industry with its high-quality manufacturing capacity within the leading countries," said Lee Dong-hoon, SK Inc.'s executive vice president and head of the Bio Investment Center. "SK Inc. will be supporting th
Jan. 11, 2022
-
LG Chem to build new high-nickel cathode factory in S. Korea
LG Chem Ltd., South Korea's leading chemical materials producer, said Tuesday it will build a new factory in South Korea to produce high-nickel cathode materials for electric vehicle (EV) batteries as it further pushes to upgrade the key battery component materials. The construction for the new cathode plant broke ground on the 60,000-square-meter site in Gumi, an industrial city located about 260 kilometers southeast of Seoul, the company said. Cathode is a key component that determines the
Jan. 11, 2022
-
Hyundai Engineering wins US plant deal to build micro modular nuclear reactors
Hyundai Engineering Co., a plant engineering affiliate of Hyundai Motor Group, said Tuesday it has secured a deal to construct micro modular nuclear reactors (MMR) for a US developer of the next-generation nuclear energy. Hyundai Engineering said it has agreed to invest $30 million in Ultra Safe Nuclear Corporation for an undisclosed stake. The deal gives the South Korean company the exclusive rights to the engineering, procurement and construction for all MMR projects of the Seattle-based co
Jan. 11, 2022
-
Samsung Fire & Marine, Lotte Homeshopping, Yakult, Korea Post, gain customer satisfaction
The year 2021 was a prolonged tug of war between struggles in our daily lives brought upon by the COVID-19 pandemic and efforts to return to pre-coronavirus life. But many Korean companies managed to enhance customer satisfaction amid the unprecedented pandemic situation, according to an annual survey by the Korea Productivity Center on Monday. The KPC’s National Customer Satisfaction Index, or NCSI, for 2021 logged 78.1 points, up 1.1 points from 2020 and the highest since th
Jan. 10, 2022
-
Edison steps closer to SsangYong takeover with court’s approval
South Korean electric carmaker Edison Motors stepped closer to acquiring major stakes in debt-laden SsangYong Motor on Monday, after the two firms clinched a deal following the court’s approval on the same day. What remains for Edison is the agreement from the two-thirds of SsangYong’s creditors on the financially troubled SUV maker’s rehabilitation plan, undergoing the same process as a decade earlier. The carmaker has been under court receivership for the secon
Jan. 10, 2022
-
[CES 2022] First Hyundai-Boston Dynamics joint project to come by 2024
LAS VEGAS – Hyundai Motor’s first collaboration project with Boston Dynamics is expected to come by 2024, according to their executives, under the South Korean auto giant’s ambitious goal of creating a better future for humans. At the Consumer Electronics Show last week, Hyundai presented its vision for future mobility, with robots, not cars, taking center stage. Now keen attention is being paid to its collaboration work with Boston Dynamics, the robotics startup it acquired
Jan. 10, 2022
-
Celltrion unveils W100b buyback plan to stabilize stock prices
South Korean biopharmaceutical giant Celltrion Inc. on Monday announced a 100 billion-won ($83.3 million) share buyback plan to stabilize stock prices and increase its shareholders' value. Its affiliate, Celltrion Healthcare, which handles overseas business operations, will also repurchase 50 billion won of its shares. The buyback plans are scheduled to start Jan. 11 and run until April 10, the companies said, adding their boards of directors made the decisions. Currently, Celltrion owns 1.32
Jan. 10, 2022
-
[Newsmaker] Kakao CEO nominee resigns over stock selling
Amid mounting criticism over Kakao executives forging a block deal to sell massive stakes they received as stock options, the IT giant’s next CEO stepped down voluntarily on Monday, leaving the company‘s management ethics in question. Ryu Young-joon, the appointee for Kakao’s next CEO, expressed his will to resign amid escalating criticism over the mass sale of his Kakao Pay shares, the IT giant said Monday. Kakao Pay is a payment platform which made a market debut in November
Jan. 10, 2022
-
S. Korea edges rivals in customer satisfaction
South Korea consumers were found to be more satisfied with local goods and services on average last year than their peers in the US, Japan and Singapore, according to the National Consumer Satisfaction Index annually published by the Korea Productivity Center. The index -- an indicator of not only user satisfaction but economic performance of companies, government agencies and the macroeconomy as a whole -- is adopted by a little over 30 countries globally, which use the same metrics to identif
Jan. 10, 2022
-
KT's IPTV services suffer disruption due to power supply glitch
KT Corp., a major South Korean mobile carrier, said Monday its internet protocol television (IPTV) services were disrupted for nearly an hour, just three months after the company suffered a major network outage. The company's Olleh TV services were interrupted from 10:42 p.m. to 11:40 p.m. on Sunday due to a technical glitch in the power supply device of the signal distributor, according to KT and the Ministry of Science and ICT. Among 304 channels, 205 channels -- including the state-funded b
Jan. 10, 2022
-
Korea Shipbuilding wins ship orders worth W1.3tr
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has received 1.33 trillion won ($1.1 billion) worth of ship orders. Korea Shipbuilding obtained three separate orders from shippers in Europe and Latin America to build four 16,000 twenty-foot equivalent unit (TEU) container carriers, four 2,500-TEU container ships and one liquefied natural gas carrier, the company said in a statement. The 2,500-TEU and 16,000-TEU container ships will be delivered to the unidentified clien
Jan. 10, 2022
-
SK Geocentric to build plastic waste recycling factory in S. Korea with US startup
SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, said Monday it will build a plastic waste recycling factory in South Korea jointly with a U.S. startup as part of efforts to advance its green business. SK Geocentric said it signed an initial terms agreement with Purecycle Technologies Inc., a Florida-based plastic recycling company, to construct a polypropylene recycling factory in the industrial city of Ulsan, about 400 kilometers southeast of Seoul. The sig
Jan. 10, 2022
-
LX International to bring in 1,100 tons of urea from China this week
LX International Corp., the general trading arm of LX Group, said Monday 1,100 tons of urea will arrive in South Korea from China this week. The shipment -- the first batch from an import contract with China for 10,000 tons of urea -- will arrive in the southeastern port city of Busan on Tuesday, LX International said. In November, the trading company secured the amount in a move to help address a supply crunch of urea solution, a key fluid needed in diesel cars to cut emissions. The firm sai
Jan. 10, 2022
-
[CES 2022] Hyundai Mobis to focus on enhancing software power
LAS VEGAS -- Software development is no longer a priority for only IT companies, but also for carmakers. “The car industry itself is transitioning from being manufacturing-based to digital-based, meaning that software is becoming important than ever. Hyundai Mobis is trying to combine the mechanical strength it has with software to provide a better service,” said Cheon Jae-seung, head of the Fundamental and Advanced Lab of Hyundai Mobis, speaking to reporters at the Consumer Electro
Jan. 9, 2022
-
[CES 2022] Hyundai Motor aims for chip self-reliance in long run
LAS VEGAS -- Seeking control of its own destiny, Hyundai Motor is making efforts to be self-reliant in automotive chips, its US chief told reporters at CES 2022 on Thursday. “Definitely, as one of the big OEMs, we cannot be dependent on external factors to try to have control of your own destiny, right? So all OEM groups are making efforts to be self-dependent. And this is not an exception for us,” said Jose Munoz, Hyundai Motor’s global chief operating officer and president
Jan. 9, 2022