Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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Samsung Heavy bags LNG carrier order for W199b
South Korean shipbuilder Samsung Heavy Industries Co. said Tuesday that it has signed a 199 billion-won ($183 million) deal to build a liquefied natural gas (LNG) carrier for a local shipper. The vessel will be delivered to Pan Ocean Co. by April 2023, Samsung Heavy said in an emailed statement. With the latest order, Samsung Heavy has won orders to build 20 LNG carriers since November. The shipbuilder has yet to announce its order target for 2021. (Yonhap)
Jan. 5, 2021
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Samsung tipped to top smartphone production in 2021: report
Samsung Electronics Co. is expected to remain the world's top smartphone producer this year, a report showed Tuesday, though its market share is likely to go down as other brands will ramp up production with the recovery of mobile demand. Global smartphone production was projected to increase 9 percent on-year to 1.36 billion units in 2021, according to market researcher TrendForce, which predicted that device replacement demand and growth in emerging markets will lead to gradual recovery of th
Jan. 5, 2021
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LG Display's OLED panel wins eye protection certification
LG Display Co., the world's leading large size OLED panel maker, said Tuesday its organic light-emitting diode (OLED) TV panel has received an eye protection certification for low blue light emission. Its OLED display became the industry's first TV panel to win an accreditation from Eyesafe, a US-based eye protection certification agency, according to LG Display. Eyesafe developed standards for eye protection in cooperation with TUV Rheinland AG, a German technical test service and certificati
Jan. 5, 2021
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Korea Shipbuilding wins W900b container-ship order
Major shipbuilder Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Tuesday it has obtained a 900 billion-won ($823 million) order from an Asian shipper to build six container ships. The vessels will start being delivered in the first half of 2023, Korea Shipbuilding said in an emailed statement. Of the six 15,000 twenty-foot equivalent unit (TEU) container carriers, four will be built by Hyundai Heavy Industries Co., a unit of Korea Shipbuilding, and the other two will be construc
Jan. 5, 2021
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Samsung, LG to show off customized home appliances at CES
South Korea's two electronics giants, Samsung Electronics Co. and LG Electronics Inc., will highlight products with enhanced customized features at the world's largest tech expo next week, industry insiders said Tuesday, signaling they will have a fierce competition in the home appliance market this year. Samsung announced Tuesday it will showcase its upgraded BESPOKE refrigerator and artificial intelligence-supported washers and dryers at the Consumer Electronics Show (CES) 2021, which is set
Jan. 5, 2021
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Hyundai to build hydrogen fuel cell plant in China: sources
Hyundai Motor, South Korea's biggest carmaker, will build its first overseas hydrogen fuel cell systems plant in China as it seeks to enter the local hydrogen market, industry sources said Tuesday. Hyundai Motor aims to build the hydrogen fuel cell systems plant in Guangzhou within this year as it has recently obtained government approval for the investment plan, a person familiar with the matter said over the phone. "Hyundai Motor is in talks with a Chinese company to form a joint compan
Jan. 5, 2021
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Celltrion to release clinical study data of COVID-19 treatment next week
South Korea's pharmaceutical giant Celltrion Inc. is expected to release the outcome of its second phase clinical study of anti-COVID-19 monoclonal antibody treatment later this month, company officials said Tuesday. The Korean Ministry of Food and Drug Safety is currently reviewing conditional approval of CT-P59, also known as Regdanvimab, a move that could potentially lead to manufacturing and sales of the first homegrown treatment. This submission was based on the data from the global phase
Jan. 5, 2021
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S. Korean shipyards tipped to take No. 1 spot in new orders in 2020
South Korean shipbuilders are expected to take the top spot in new global shipbuilding orders for 2020 despite the fallout of the coronavirus pandemic, industry sources said Tuesday. Local shipyards' new orders came to 7.98 million compensated gross tons (CGTs) as of Dec. 28 last year, ranking first worldwide, according to data provided by global market researcher Clarkson Research Service. Chinese shipbuilders came in second with 6.73 million CGTs. Global new orders totaled 17.92 million CGTs
Jan. 5, 2021
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Businesses look beyond pandemic to a year of market upheavals
After a year of unprecedented crisis brought on by the pandemic, South Korean businesspeople were realigning themselves for the new year, tense over continuing market disturbances. In their respective New Year’s addresses, conglomerate chiefs all predicted that the market will face an accelerated transformation this year in response to post-coronavirus new norms. The most hopeful was the electronics industry, including the country’s No. 1 tech giant, Samsung Electronics, which has
Jan. 4, 2021
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Hyundai Motor may buy EV batteries from Samsung SDI for 1st time
Hyundai Motor said Monday it has selected Samsung SDI as one of the final candidates to supply batteries for its electric vehicles to be rolled out in 2023. South Korea’s largest automaker is currently shopping for the third batch of batteries for its EVs to be assembled using its platform E-GMP. Designed by Hyundai Motor, E-GMP is a platform dedicated to EVs that allows the carmaker to load batteries under the car’s floor instead of engine bay. If selected, Samsung SDI, toge
Jan. 4, 2021
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Kowepo to inject W250b to build 3 fuel cell power plants
Korea Western Power said Monday it will invest 250 billion won ($231.3 million) to construct three fuel cell-based electricity generation facilities. In a recent board meeting, Kowepo, which aims to increase its renewable power generation capacity to 6.1 gigawatts by 2030 from 490 megawatts as of 2019, decided to establish three fuel cell power plants, in Iksan, North Jeolla Province; Hwaseong, Gyeonggi Province; and Goryeong, North Gyeongsang Province. The 15-megawatt plant in Iksan will
Jan. 4, 2021
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Renault Samsung's Dec. sales nearly halve amid pandemic
Renault Samsung Motors Corp. said Monday that its auto sales tumbled 46.9 percent last month from a year earlier as the COVID-19 pandemic continued to weigh on demand for its models. The South Korean unit of Renault SA sold 9,016 vehicles in December, down from 16,965 units a year earlier, the company said in a statement. Domestic sales decreased 19.7 percent on-year to 8,010 units last month, while exports tumbled 85.6 percent to 1,006 units over the cited period, the firm said. For the whol
Jan. 4, 2021
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HHIH likely to complete acquisition of DSME within H1: HHIH chairman
Global shipbuilding behemoth Hyundai Heavy Industries Holdings Co. (HHIH) will be able to complete the acquisition of smaller local rival Daewoo Shipbuilding & Marine Engineering Co. (DSME) within the first half of this year, the company's chairman said Monday. "The review of the business combination (between HHIH and DSME) has been a little delayed but is expected to be completed within the first half of this year," HHIH's chairman Kwon Oh-gap said in his New Year's message. The
Jan. 4, 2021
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Korea begins approval process for AstraZeneca vaccine
AstraZeneca’s COVID-19 vaccine (AZD1222) will be reviewed for potential approval in South Korea within the next 40 days, Korea’s Ministry of Food and Drug Safety announced Monday. According to the Drug Ministry, AstraZeneca Korea has submitted applications for approval for its vaccine to be manufactured locally under a contract with SK Bioscience and for more of the vaccine to be shipped from manufacturers in Italy, the US and the UK. AstraZeneca is required to submit further doc
Jan. 4, 2021
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Daewoong to initiate phase 3 trial of camostat in combination with remdesivir
Daewoong Pharmaceutical’s pancreatitis treatment Foistar (DWJ1248) is to enter a new phase 3 clinical trial in combination with Gilead Science’s remdesivir, the company said in a regulatory filing Monday. Foistar, which is administered orally in tablet form, uses camostat as its active ingredient and is hoped to reduce the viral load of COVID-19 in an infected person’s body. In the beginning of the race for COVID-19 treatments, scientists believed that repurposing drugs such
Jan. 4, 2021
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GS chairman vows focus on digital competency in New Year’s address
GS Group will focus on digital competency and environmentally-friendly management to discover new business projects, the chairman of the group Huh Tae-soo said on Monday. In a livestreamed New Year’s address from the company‘s headquarters in Seoul, Huh said his company will push for “new businesses in various fields” and urged employees to adjust their ways of working to adapt to change. While last year was a “period of change” marred by the uncertainty sur
Jan. 4, 2021
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Daewoo E&C wins W2.9tr port deal in Iraq
Daewoo Engineering & Construction Co., a major South Korean builder, said Monday it has signed a 2.9 trillion-won ($2.7 billion) deal with the Iraqi government to build port facilities. Daewoo E&C has obtained the deal from the state-run General Company for Ports of Iraq (GCPI) to build a tunnel, a container terminal and roads to the Al Faw port in Basra, the company said in a statement. "The company participated in the port construction project from 2013. In the previous deal, we
Jan. 4, 2021
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NCSoft's Lineage 2M to land in Japan, Taiwan in Q1
Lineage 2M, a mobile massively multiplayer online role-playing game (MMORPG), will land in Japan and Taiwan during the first quarter of this year, South Korean online game maker NCSoft said Monday. The mobile version of the mega-hit game Lineage 2 will be simultaneously available on Google's Android and Apple's iOS devices in the two Asian countries, the company said. Lineage 2M, which integrates NCSoft's technology and expertise built over the past 20 years, features full 3D graphics and 4K U
Jan. 4, 2021
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More than 330 Korean exhibitors to attend CES 2021
More than 330 South Korean exhibitors are expected to introduce their new products and cutting-edge services at the world's largest tech expo next week, data from its organizer showed Monday. So far, 338 firms, institutions and colleges from South Korea have registered for the Consumer Electronics Show (CES) 2021, according to the US Consumer Technology Association. This year's tech show will take place online from Jan. 11 to 14 due to the novel coronavirus pandemic. The number of South Korean
Jan. 4, 2021
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Pandemic-hit oil refiners' losses estimated at W5tr won in 2020
The coronavirus pandemic is likely to have come as a big draw on South Korean oil refiners last year as their low refining margins ate into their profitability, industry sources said Sunday. Whipsawed by weak oil prices and sluggish refining margins, industry leader SK Innovation Co. and three other players are projected to have posted a combined net loss of more than 5 trillion won ($4.6 billion) last year. The situation didn't improve much in the third quarter of last year despite rising dem
Jan. 3, 2021