Most Popular
-
1
Seoul Fireworks Festival ends smoothly, but leaves piles of trash
-
2
[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
-
3
Can Jennie break the K-pop solo artist slump?
-
4
Yoon set for talks with Marcos in Philippines
-
5
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
6
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
7
Ex-president's daughter investigated for drunk driving accident
-
8
'Culinary Class Wars' producers deny trying to spice up results
-
9
Seoulites celebrate coexistence at Wellness Seoul 2024
-
10
First lady’s Dior bag scandal to be at center of Assembly audit
-
Doosan Heavy teams up with local govt. to build offshore wind farm
South Korea's top power plant builder Doosan Heavy Industries & Construction Co. said Thursday that it has joined forces with a local government to build an offshore wind farm in seas off the coast of the southwestern part of the country. Doosan Heavy signed a deal with the government of North Jeolla Province to cooperate on the construction of a 2.4-gigawatt offshore wind farm to be completed by 2028, a 14 trillion-won ($12.8 billion) project, the company said in an emailed statement. Und
Dec. 17, 2020
-
Posco to buy 15% stake in Australia's Black Rock Mining
Posco, the world's fifth-largest steelmaker by output, said Thursday it has agreed to buy a 15 percent stake in Black Rock Mining for $7.5 million. The deal will pave the way for Posco to secure graphite fines, a material required to make anodes, according to the steelmaker. Still, Posco said no specific date has been set for the formal signing of an offtake agreement with the Australia-based graphite producer. An anode is a key material in a battery that preserves lithium coming from th
Dec. 17, 2020
-
[News Focus] COVID-19 self-testing may be game changer
Even before the novel coronavirus got out of China late last year, South Korean government and diagnostic firms knew what was coming and what they needed to do. The insight made the country the world’s main supplier of COVID-19 test kits during the initial phase of the pandemic. Nearly a year later and faced with fierce new waves of infections threatening to undermine the country’s early success in the virus fight, officials from the government and industry officials met Wednesda
Dec. 17, 2020
-
Kepco to adopt flexible electricity bills linked to resource costs
State-run Korea Electric Power Corp. (Kepco) said Thursday it will revamp its billing system by adopting flexible rates linked to global prices of resources next year, in a move to improve its profitability. "The current billing system failed to reflect fluctuations in production costs in a timely manner," Kepco said in a statement. "It has also remained unchanged since 2013 and also failed to notify consumers of additional prices linked to climate change," it added. South
Dec. 17, 2020
-
LG Electronics unveils theme for CES 2021
LG Electronics Inc. on Thursday unveiled its theme for the upcoming media event at the world's largest tech expo next year as the South Korean tech giant vowed to introduce products and solutions that could be useful in the new normal era of the pandemic. LG will hold a 30-minute virtual press conference at 8 a.m. Eastern Standard Time (EST) on Jan. 11 under the theme of "Life is ON -- Make yourself @ Home" at the Consumer Electronics Show (CES) 2021 and will explain its latest innova
Dec. 17, 2020
-
Samsung, IBM join hands to develop enterprise solutions
Samsung Electronics Co. said Thursday it will collaborate with International Business Machines (IBM) Corp. to develop enterprise solutions with cutting-edge technologies. With its US partner, Samsung said it aims to provide enterprises with new 5G, edge computing and hybrid cloud solutions so that businesses can better manage their operations and embrace the fourth industrial revolution. "This planned collaboration will combine Samsung's industry-leading Galaxy 5G mobile devices and advan
Dec. 17, 2020
-
ITC favors Medytox over Daewoong in botulinum toxin strain dispute in final ruling
A US trade panel has upheld its preliminary ruling by siding with South Korean drugmaker Medytox Inc. in a trade dispute, saying its local rival Daewoong Pharmaceutical Co. copied the manufacturing process of a botulinum toxin strain, industry officials here said Thursday. In a final decision, the US International Trade Commission (ITC) ordered a 21-month ban on imports of Daewoong Pharmaceutical's botulinum products into the United States. The ruling, however, reduces an initial 10-year ban p
Dec. 17, 2020
-
Canada pension fund to invest W300b into fried chicken franchise BHC
Canada Pension Plan Investment Board (CPPIB) plans to invest 300 billion won ($275 million) into BHC Co., a fried chicken franchise operator in South Korea, an industry source said Wednesday. CPPIB, Canada's biggest pension fund, is scheduled to sign a contract with BHC to become one of the new investors for the Korean firm, according to the source. BHC saw sales grow 34 percent on-year to 318.6 billion won in 2019, and its operating profit jumped 62 percent on-year to 97 billion w
Dec. 16, 2020
-
Hanwha’s defense arms sign joint defense research pact with US
Hanwha Corp. and Hanwha Defense, the two defense affiliates of Hanwha Group, have signed an agreement on collaborative research and development of key defense items and technologies, officials said Wednesday in a release. The Cooperative Research and Development Agreement -- CRADA -- was signed Dec. 10 by the US Army Combat Capabilities Development Command Armaments Center -- DEVCOM AC -- and the two Hanwha affiliates. CRADA refers to a cooperative mechanism that enables the US government
Dec. 16, 2020
-
New CEO vows to put Samsung Biologics on top of game in a decade
Samsung Biologics’ newly appointed chief executive officer John Rim vowed in his inaugural address on Wednesday to put the company in the front of the race in contract research, development and manufacturing. Samsung Biologics will continue to make preemptive investments in the contract manufacturing organization (CMO) business, in order to maintain its position as having the world’s largest biologics manufacturing facility. As for the relatively new businesses of contract develo
Dec. 16, 2020
-
GS Group donates W4b to Community Chest of Korea
South Korea’s eighth-largest conglomerate GS Group has donated 4 billion won ($3.67 million) to the Community Chest of Korea, in a gesture to help the socially vulnerable, the group said Wednesday. The business group has been making year-end donations to the charity organization since 2005 and the latest contribution has brought the accumulated total amount to 60 billion won. “We hope to offer help and comfort to those who are going through difficult times due to the COVID-19 cris
Dec. 16, 2020
-
Conglomerate owner families tilt toward ‘inter-chaebol’ marriages
South Korea’s conglomerate owner families are increasingly turning away from the political world and seeking matrimonial ties with peer chaebol families, corporate tracker data showed Wednesday. Of the incumbent conglomerate owners’ offspring, the majority have married other “chaebol kids,” reflecting the growing preference within business circles for inherited wealth. According to data compiled and released by CEO Score, 153 out of 317 chaebol owner family members,
Dec. 16, 2020
-
LG Display’s 88-inch 8K OLED wins Prime Minister’s accolade
LG Display’s 88-inch 8K organic light-emitting diode display won the Prime Minister’s accolade at 2020 Korea Tech Show on Wednesday. The prized display is the first product with such cutting-edge specifications to be commercialized in the world, LG Display said. Prior to LGD’s 8K OLED, the advanced 8K display market had been dominated by liquid crystal displays. LGD’s 8K OLED is expected to be a game changer with every one of its 33 million pixels controllable for del
Dec. 16, 2020
-
Samsung denies rumors of Galaxy Note series discontinuation
Samsung Electronics Co. on Wednesday denied rumors that it will discontinue the Galaxy Note series next year, saying the flagship phablet line will live on despite the rise of other premium devices. Speculation has arisen recently that Samsung may reconfigure its premium smartphone lineup with Galaxy Z foldables and Galaxy S devices after ditching the Galaxy Note family that is highlighted by S-Pen stylus features. "We are preparing to release the Galaxy Note series next year," a Sa
Dec. 16, 2020
-
Korea Shipbuilding bags W407b order from Asia
Korea Shipbuilding & Offshore Engineering Co. said Wednesday that it has won a 407 billion won ($372 million) order from an Asian company. Under the deal, Hyundai Heavy Industries Co. is set to deliver two liquefied natural gas (LNG) carriers to the unidentified Asian company by October 2024, according to the unit of Korea Shipbuilding. On Tuesday, Korea Shipbuilding won three orders worth 601 billion won to build two LNG carriers and a very large crude carrier (VLCC). A LNG carrier wor
Dec. 16, 2020
-
Samsung to expand foldables, hints at stylus support on other devices
Samsung Electronics Co. said Wednesday it plans to expand its foldable smartphone lineup next year and hinted that stylus support may be available to more Galaxy devices as the South Korean tech giant revealed its mobile business goals for 2021. Roh Tae-moon, who heads Samsung's mobile communications business, said the world's largest smartphone maker's diverse product portfolio will deliver "breakthrough capabilities." "True to our heritage of staying ahead of the curve with
Dec. 16, 2020
-
Bourse operator again delays decision on scandal-ridden Kolon TissueGene
South Korea's bourse operator on Tuesday delayed its decision on whether to delist the scandal-ridden drugmaker Kolon TissueGene, saying it needs more time to review the issue. The Korea Exchange said it will reopen a meeting on the fate of Kolon TissueGene, an affiliate of Kolon Life Science, later. It stopped short of announcing a specific date. A week earlier, the KRX postponed its decision on the matter. Kolon TissueGene was listed on the secondary Kosdaq market in 2017. The tradi
Dec. 15, 2020
-
World Expo 2030 Busan Korea to showcase Korea's advance
By bidding to host the 2030 World Expo in Busan, South Korea is striving for an opportunity that will enhance its national competitiveness and the city’s global brand status. As the nation’s second-largest city, Busan will be the first city in Korea to hold a World Expo if the bid succeeds. It is Korea’s first attempt to host a World Expo after 137 years of taking part in such events, starting with the Chicago Expo in 1893. A World Expo is one of the world’s three &ldquo
Dec. 15, 2020
-
Hyundai Motor Group reshuffles execs in innovative push
South Korea’s second-largest conglomerate Hyundai Motor Group on Tuesday named the new chief for its flagship automaker unit, while promoting key leaders in future mobility sectors to affiliates’ top posts. The latest personnel reshuffle, marking the first of the kind since Chung Euisun was promoted to the group chairman position, was seen as the Korean auto group’s augmented signal to trail its blaze in future growth domains amid prolonged economic challenges and accelerati
Dec. 15, 2020
-
Korea to quadruple renewable power by 2034, downsize nuclear, coal
Renewable energy will take up nearly 42 percent of South Korea’s power generation capacity by 2034, according to a blueprint for the national energy mix unveiled Tuesday. The final draft of the Ninth Basic Plan for Electricity Supply and Demand for the years 2020-2034, drawn up and released by the Ministry of Trade, Industry and Energy, reaffirms President Moon Jae-in’s commitment to move away from nuclear power and toward renewables. While the country’s electricity generat
Dec. 15, 2020