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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Ex-president's daughter investigated for drunk driving accident
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'Culinary Class Wars' producers deny trying to spice up results
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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First lady’s Dior bag scandal to be at center of Assembly audit
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Seoulites celebrate coexistence at Wellness Seoul 2024
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SKT CEO pushes ahead with remote working
SK Telecom CEO Park Jung-ho said Wednesday that the company will allow its employees to work from anywhere. “We need to study how we can improve the ways in which we communicate while working since it is not possible to fully return to the ways we did before (the coronavirus),“ he said. The CEO said the company will try many different solutions, utilizing its data and technology to change the company’s work environment. SKT will increase its number of regional offices, whi
Nov. 18, 2020
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GS Caltex gas stations evolve under new brand ‘Energy Plus’
GS Caltex on Wednesday launched its new brand, Energy Plus, to roll out a new type of gas station that can function conventionally and serve as a mobility and logistics hub. According to the South Korean refinery, the company opened Energy Plus Hub in Seocho-gu, Seoul, as the first pump station under the new brand Energy Plus, which can charge electric and hydrogen vehicles and serve as a car-sharing platform and logistics hub for drone shipping. “GS Caltex will continue to transform
Nov. 18, 2020
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Netmarble seeks turnaround with newly released Seven Knights 2
Netmarble on Wednesday launched its massively multiplayer online role-playing game Seven Knights 2 in Korea, drawing attention to whether the much-anticipated game will be able to compensate for the company’s lackluster performance in the third quarter. As a sequel of Seven Knights, launched in 2014, Seven Knights 2 continues on the plot lines of the previous work and offers a story that players can consume like a movie. The mobile MMORPG showcases 46 heroes, and players control a gro
Nov. 18, 2020
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[Feature] Can Korea handle COVID-19 vaccines?
While the development of COVID-19 vaccines makes the need to store vaccines at low temperatures increasingly urgent, South Korea is proving to be less than prepared. The new vaccines from US companies Pfizer and Moderna are based on messenger RNA (mRNA), and as a result, need to be stored at low temperatures -- minus 70 degrees Celsius for Pfizer’s and minus 20 degrees Celsius for Moderna’s. When the Ministry of Food and Drug Safety and Korea Disease Control and Prevention A
Nov. 18, 2020
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Kiwoom Securities logs biggest Q3 operating profit among brokerages
Kiwoom Securities Co. posted the largest operating income among local brokerage houses in the third quarter on brisk trading by retail investors, data showed Wednesday. Kiwoom Securities' operating profit came to a quarterly record of 355.5 billion won ($322 million) in the July-September period, up 314 percent from a year earlier, according to the data from the Financial Supervisory Service. The company's net profit also shot up 295 percent from a year earlier to 263.4 billion won, also a rec
Nov. 18, 2020
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SK’s ‘Happiness Alliance’ joined by 100 firms
The number of companies joining the “Happiness Alliance,” a social contribution alliance led by SK Group to support children in the blind spots, has surpassed 100, the group said Wednesday. SK Group said it held “2020 Happy Alliance Day” in Seoul on Tuesday to share business results so far. Chairman Chey Tae-won said in the opening speech, “Among many social problems, I thought it was necessary to first solve the problem of children being placed in nutritional i
Nov. 18, 2020
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KT maintains top spot in pay TV market in H1: data
KT Corp., a South Korean telecom giant, and its affiliate had the most number of pay TV subscribers in the country in the first half of this year, maintaining the top status in terms of market share, ministry data showed Wednesday. The mobile carrier and its satellite TV unit KT Skylife Co. had a combined 31.4 percent share of the market, or 10.7 million subscribers, in the January-June period, followed by LG Uplus Corp. and its pay TV unit LG HelloVision Corp. at a total 25.1 percent, accordin
Nov. 18, 2020
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Samsung Engineering wins $135m plant deal in Hungary
Samsung Engineering Co. said Wednesday it has clinched a 150 billion won ($135) order to build a battery copper foil plant in Hungary. The plant, South Korean copper foil maker Doosan Corporation Europe's second, is set to be completed in Tatabanya Industrial Park in Hungary in 2022 and will have an annual production capacity of 15,000 tons of battery copper foil, a key component of electric vehicle batteries. In April, Doosan Corporation Europe, a wholly owned subsidiary of South Korea's Doos
Nov. 18, 2020
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[Monitor] Asiana Airlines turns into surplus in Q3
Asiana Airlines said Monday that its operating profit for the third quarter of this year was estimated at 5.8 billion won ($5.24 million), based on separate financial statements. Asiana Airlines, which suffered an operating loss of 45.1 billion won during the same period last year, turned the corner into a surplus. (khnews@heraldcorp.com)
Nov. 18, 2020
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Samsung, LG temporarily shut down research labs over virus cases
South Korea's two largest electronics firms -- Samsung Electronics Co. and LG Electronics Inc. -- on Wednesday decided to temporarily shut down their research labs after their workers tested positive for the new coronavirus. Samsung said it shuttered a mobile research lab in Suwon, just south of Seoul, after a worker there tested positive for COVID-19 on Tuesday. The company said it has ordered all employees at the building to work from home, while the floor where the virus-infected employee
Nov. 18, 2020
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Korean Air parent company signs agreement with KDB for Asiana acquisition
Hanjin KAL, the parent company of Korean Air Lines, on Tuesday signed an agreement with Asiana Airlines Inc.'s main creditor Korea Development Bank for its acquisition of the smaller carrier. The investment agreement calls for the KDB to inject 800 billion won ($723 million) into Hanjin KAL through a rights offering and convertible bonds. Under the deal, Hanjin KAL is required to select three of its outside directors and members of an inspection committee, which will all be designated by the
Nov. 17, 2020
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Korea Hydro & Nuclear Power vies for Czech nuclear plant deal
The competition to win Dukovany nuclear power plant deal in Czech has been narrowed down to five candidates including Korea Hydro & Nuclear Power after France-Japan consortium ATMEA dropped out of the race. According to industry sources Tuesday, Czech power utility CEZ held the second round of talks at the turn of October with five candidates willing to become suppliers for the construction of the Dukovany nuclear power plant. The five candidates include KHNP, China’s CGN, France
Nov. 17, 2020
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Kakao Games employees exercise stock options after IPO jackpot
Employees of Kakao Games netted 16.7 billion won ($15 million) in gains by exercising stock options after the games unit of Korea’s mobile giant Kakao successfully debuted on the Kosdaq market in September. According to a regulatory filing Tuesday, a significant number of Kakao Games employees exercised stock options to purchase 473,678 shares at the average price of 13,000 won on Sept. 23, two weeks after the company went public. In total, the employees spent 6.3 billion won to buy the
Nov. 17, 2020
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Samsung Biologics delivers Eli Lilly’s COVID-19 antibody treatment
Samsung Biologics said Tuesday that it had successfully delivered the first batch of Eli Lilly’s COVID-19 antibody treatment, just five months after the two forged a contract manufacturing deal. “We are very pleased to deliver this product to our client Lilly in record breaking speed to aid in the war against the COVID-19 pandemic,” said Dr. Kim Tae-han, CEO of Samsung Biologics. “Thanks to Lilly’s ongoing scientific efforts, patients suffering from this devastat
Nov. 17, 2020
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Korea Shipbuilding bags W986b in orders from Oceania
Korea Shipbuilding & Offshore Engineering Co. said Tuesday that it has signed a combined 986 billion won ($890.5 million) worth of orders to build 10 very large crude-oil carriers (VLCCs). Three VLCCs will be built by its unit Hyundai Samho Heavy Industries Co. and seven VLCCs will be built by its unit Hyundai Heavy Industries Co., Korea Shipbuilding said in a regulatory filing. The 300,000-ton vessels will be delivered by March 2023 to unidentified customers, the company said. With th
Nov. 17, 2020
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[Monitor] Bus fare jumps 120-fold in 50 years
Korea Price Information Corp. on Monday released data that showed how the basic prices for major items used in the daily lives of Seoul residents has changed over the past five decades. According to the report, the basic bus fare for a one-way trip in Seoul cost 10 won in 1970. It has since increased to 1,200 won as of this year, a 120-fold jump. The basic fare for a taxi increased from 60 won 50 years ago to 2,800 won in 2020. (khnews@heraldcorp.com)
Nov. 17, 2020
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Chipmakers rally on recovery hopes, foreign buying: analysts
Share prices in South Korean chipmakers are expected to rise further as investors bet on a recovery in the memory chip market next year, analysts here said Tuesday. South Korea's two largest chipmakers -- Samsung Electronics Co. and SK hynix Inc. -- have been skyrocketing in recent weeks with foreigners' buying spree. SK hynix continued its rally on Tuesday after touching a nine-month high on the previous day. It climbed 0.1 percent to 98,100 won ($88), extending its winning streak to six str
Nov. 17, 2020
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Samsung Heavy wins W195b order from Oceania
Samsung Heavy Industries Co. said Tuesday that it has signed a 195 billion-won order ($176 million) to build three oil tankers from Oceania. The S-Max oil tankers will be delivered by January 2023, the company said in a regulatory filing. The deal has an option to build two additional oil tankers, it said. Samsung Heavy has a 46 percent share of the global S-Max oil tanker market, clinching orders to build 12 out of 26 oil tankers that have been ordered globally so far this year. S-Max, o
Nov. 17, 2020
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Samsung Biologics inks COVID-19 drug manufacturing deal with Eli Lilly
South Korean pharmaceutical firm Samsung Biologics Co. said Tuesday it has signed a long-term agreement with US pharmaceutical firm Eli Lilly and Company to manufacture a novel coronavirus-neutralizing antibody. Under the contract manufacturing organization (CMO) agreement, Samsung Biologics will provide Eli Lilly's investigational neutralizing antibody for the treatment of COVID-19 patients. Earlier this month, the US Food and Drug Administration granted emergency use authorization for the in
Nov. 17, 2020
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Samsung's R&D spending continues to rise in Q3; employment at record high
Samsung Electronics Co. said Monday its research and development (R&D) spending for the first nine months of the year hit a record high of 15.89 trillion won ($14.3 billion) amid the novel coronavirus pandemic. The figure represented a 600 billion-won increase from a year earlier, and is a more than 5 trillion won increase from its R&D investment tally in the first half of the year, according to the company's third-quarter business report. Samsung's R&D investment was equivalent to
Nov. 16, 2020