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
[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
-
6
Ex-president's daughter investigated for drunk driving accident
-
7
Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
-
8
'Culinary Class Wars' producers deny trying to spice up results
-
9
First lady’s Dior bag scandal to be at center of Assembly audit
-
10
Seoulites celebrate coexistence at Wellness Seoul 2024
-
LG Electronics sponsors cholera inoculations in Ethiopia
LG Electronics said Tuesday that it will back a project by the International Vaccine Institute to provide free cholera vaccinations for some 40,000 people in Ethiopia for three years starting in 2021. LG Electronics and IVI will also establish a disease monitoring system in the region. “Although COVID-19 has taken attention away from cholera, it still remains a disease that takes away many lives across the globe,” said Jerome Kim, director general of IVI. “Together with LG
Nov. 24, 2020
-
Hyundai Heavy, Eugene submit final bids for Doosan Infracore
Hyundai Heavy Industries Holdings Co. (HHIH) and ready-mixed concrete maker Eugene Group on Tuesday submitted their final bids for a 36 percent stake in Doosan Infracore Co., the largest local construction equipment maker here. In a regulatory filing, the shipbuilder said that it has joined the final bid, with Eugene Group reportedly joining the final bid. But GS Engineering & Construction Corp. and three local private equity funds -- Glenwood PE, MBK Partners and Eastbridge Partners drop
Nov. 24, 2020
-
Samsung takes one-third of global TV market in Q3: report
Samsung Electronics Co. remained the world's leading TV vendor in the third quarter of the year, a report showed Tuesday, as it accounted for one-third of the market amid the pandemic. The South Korea tech giant had a all-time high of 33.1 percent market share in the global TV market in the July-September period in terms of revenue, according to data from industry researcher Omdia. Samsung sold $9.3 billion worth of TVs in the third quarter, up 22 percent from a year earlier, the data showed
Nov. 24, 2020
-
Naver to spend W180b to support small business owners
Naver Corp., the operator of South Korea's dominant Internet portal, said Tuesday it will invest 180 billion won ($161 million) over the next two years in supporting small business owners and creators. "Naver aims to produce a new kind of business synergy by connecting business and creative works through the latest technology," Naver CEO Han Seong-sook said in an online press conference. Under the new project, Naver will first develop a new data-based platform that directly connects
Nov. 24, 2020
-
Posco chief seeks to serve second term
Posco CEO Choi Jeong-woo announced his intention to serve consecutive terms at a board meeting early this month, the company confirmed on Tuesday. According to Posco, the board of directors resolved to run a “CEO nomination committee” and began reviewing the qualifications for the reappointment of Choi. Under the company’s articles of association, a CEO must disclose his intention to serve another term three months before the end of his term. Cho’s three-year ter
Nov. 24, 2020
-
[Monitor] Eco-friendly cars make up 3% of all vehicles
A total of 766,464 eco-friendly vehicles were registered as of October this year in South Korea, according to data released by the Transport Ministry on Sunday. They make up 3.16 percent of all vehicles registered here. This is the first time green vehicles have accounted for over 3 percent of the total. Eco-friendly vehicles refer to hybrid electric vehicles, electric vehicles and fuel cell vehicles. The percentage was 1.99 percent in 2018 and 2.54 percent in 2019. The number of hybrids reac
Nov. 24, 2020
-
LS Cable wins submarine cable supply deal in Denmark
LS Cable & System, the world's third-largest wire and cable maker by sales, said Tuesday it has received a submarine cable supply deal in Denmark. Under the deal, LS Cable will supply extra-high voltage submarine cable systems for offshore wind farms operated by Denmark's Orsted, the world's largest offshore wind farm operator, for five years, the company said in a statement. The company did not provide the contract value. "The offshore wind market is growing fast, particular
Nov. 24, 2020
-
Drug ministry approves clinical trials of coronavirus vaccine, treatment
South Korea's drug safety agency has approved clinical trials of vaccine and treatment candidates currently under development by two local drug manufacturers, industry officials said Tuesday. The Ministry of Food and Drug Safety on Monday gave the green light to conduct a phase one clinical trial of a vaccine candidate, dubbed "NBP 2001," by SK Bioscience. SK Bioscience said it will administer the investigative therapy to healthy adults to evaluate its safety and efficacy at two dif
Nov. 24, 2020
-
Google postpones Play Store commission in Korea
Google on Monday delayed its policy to charge a 30 percent commission on payments made via the Google Play Store as South Korean app developers geared up for a legal battle against the US tech giant. According to an online notice posted by Google in the afternoon, it pushed back its plan to enforce the obligatory in-app purchasing policy for newly registered apps to Oct. 1 from Jan. 20. Google has recently come under fire from Korean lawmakers after it decided in September to push forward wi
Nov. 23, 2020
-
Korea holds online job fair for foreign-invested firms
The South Korean government on Monday opened the 15th Job Fair for Foreign-Invested Companies. The job fair this year will be held online through Friday, according to the organizers. The event is co-hosted by the Ministry of Trade, Industry and Energy, Korea Trade-Investment Promotion Agency, the Seoul Metropolitan Government and the Financial Supervisory Service. The event is designed to help participating foreign-invested companies in Korea find local staff, the organizers said. This year
Nov. 23, 2020
-
[News Focus] Korean industries eye impact of Biden's carbon plans
US President-elect Joe Biden’s ambitions to curb carbon emissions are set to bring significant changes to the economic landscape for South Korea’s exporters. During his campaign, the 77-year-old Democrat said he wanted to introduce a border carbon adjustment mechanism. The scheme would impose a tax on carbon-intensive imports from heavy polluters such as China, leveling the playing field for producers in advanced countries that pursue rigorous environmental standards. Simultane
Nov. 23, 2020
-
Nexon seeks global biz boost with PUBG-style shooting game
After a major regulatory setback in China, Nexon is striving to turn things around in other regions by releasing a new first-point-shooter game that offers a twist on Krafton’s PlayerUnknown’s Battlegrounds, a battle royale shooter that pits 100 players against each other. According to the South Korean game company Monday, its Stockholm-based subsidiary, Embark Studios, is developing a brand-new team-based multiplayer shooting game that will allow Nexon to target the North American
Nov. 23, 2020
-
Oriental Brewery to brew beer with solar power
Oriental Brewery said Monday it will brew beer with solar power to pursue RE100, a global initiative to source 100 percent of electricity consumption from renewable energy sources. According to South Korea’s largest beer maker by revenue, it signed a memorandum of understanding with Kepco Energy Solution and Aeonus to construct solar power generation facilities that will supply clean electricity to three OB beer factories in Gwangju, Cheongju in North Chungcheong Province and Icheon in Gy
Nov. 23, 2020
-
Daewoong to repurpose Foistar as COVID-19 treatment by January
Dawoong Pharmaceutical said Monday that it had finished recruiting volunteers for a phase 2 clinical trial in hopes of repurposing its Foistar tablets as the “Tamiflu of COVID-19.” Daewoong said it anticipates the official use of Foistar as a preliminary COVID-19 drug to begin in January 2021. Foistar, a trade name for camostat, helps prevent the spike on SARS-CoV-2, the virus that causes COVID-19, from docking onto human cells, inhibiting the virus from multiplying within the bo
Nov. 23, 2020
-
SkyLabs, Chong Kun Dang team up for heart-monitoring ring
SkyLabs and Chong Kun Dang are initiating sales of ring-type heart monitoring device CART-I for the mass market starting December, SkyLabs announced Monday. Chong Kun Dang has paid SkyLabs 2.5 billion won ($2.2 million) to SkyLabs for the rights to business-to-consumer sales of the CART-I cardio tracker in Korea. Chong Kun Dang will also have priority negotiation rights for exports to Japan, China, India and the Middle East. In turn, it will provide SkyLabs with a base for further technology
Nov. 23, 2020
-
Manufacturing sentiment soars for Nov. despite pandemic: poll
South Korea's manufacturing confidence improved sharply to a record high in November despite the fallout of the coronavirus pandemic, a poll showed Monday. The Korea Institute for Industrial Economics & Trade (KIET) said its professional survey index (PSI) for the manufacturing sector's business conditions came to 133 for November, up from 124 the previous month. November's PSI remained above the benchmark 100 for six months running and reached the highest-ever point. A PSI reading above
Nov. 23, 2020
-
Yuhan gets $65m from Janssen for lazertinib milestone achievement
Yuhan Corp. made a regulatory filing Monday saying that the company is to receive $65 million in milestone payment from Janssen Biotech. This is roughly 4.3 percent of Yuhan’s total consolidated equity capital, which as of Monday stands at 1.65 trillion won ($1.48 billion) -- strengthening the company’s financial soundness. Janssen, a Johnson & Johnson company, is researching the effects of the combined use of its bispecific antibody amivantamab and Yuhan’s third-generat
Nov. 23, 2020
-
Korean firms tighten antivirus measures over resurgence of COVID-19
South Korean firms are again beefing up their virus prevention measures after the country decided to enforce enhanced social distancing rules in the greater Seoul area over a resurgence of the novel coronavirus, industry insiders said Monday. Health authorities will start implementing the Level 2 distancing scheme, the third highest in the country's five-tier COVID-19 alert system, in the capital region, home to half of the nation's population, Tuesday as sporadic cluster infections continue to
Nov. 23, 2020
-
[Monitor] Fair market value of studio apartments in Seoul to rise by 5.8% in 2021
The fair market value of multipurpose studio apartments in Seoul is expected to rise by 5.86 percent next year, according to a report by the National Tax Service. The value of commercial buildings in Seoul is likely to rise by 3.77 percent. The average fair market value for all studio apartment properties nationwide is expected to go up by 4 percent, while that of commercial buildings is expected to increase by 2.89 percent. The value is expected to rise as demand for multipurpose studio apart
Nov. 23, 2020
-
Samsung Heavy wins $2.5b order from Europe
Samsung Heavy Industries Co. said Monday it has signed a $2.5 billion deal with a European company to provide ship blocks and other equipment. The deal, the largest order ever the shipyard has clinched, will be finalized in December 2025, Samsung Heavy Industries said in a regulatory filing. So far this year, Samsung Heavy has secured orders worth $3.8 billion, achieving 45 percent of its annual order target for the year. With the deal, Samsung Heavy's order backlogs also rose to $21.1 billio
Nov. 23, 2020