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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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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Yoon honors veterans of Korean War in trip to Philippines
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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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[From the Scene] Inside the world’s biggest biologics plant
This article was written after a one-on-one tour of Samsung Biologics’ plants. -- Ed. If this era insists that there be “photos or it didn’t happen,” then this trip to Samsung Biologics’ plants may as well have not taken place. All Samsung plants are under strict security protocols, meaning phones only pass the security gate once tape is placed over both the front and rear cameras. There is also no Wi-Fi for visitors. So, since no selfies and no candid videos c
Aug. 3, 2020
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[Newsmaker] Kakao Games under fire for sexist translation ahead of IPO
Kakao Games is facing a boycott from users for sexist translations in its newly released game Guardian Tales, posing a hiccup to the company that stands on the doorstep of going public. The gaming unit of Korea’s leading messenger app operator Kakao on Sunday conducted an unscheduled update at 10 a.m. without a specific explanation, infuriating users as the entire server for Guardian Tales went down for eight minutes. In the English version of Guardian Tales, from which the Korean ver
Aug. 3, 2020
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[News Focus] Family feud simmers at Korea’s largest tiremaker
When the chief of Korea’s largest tiremaker sold all his stock in the company to his second son on June 30, the succession appeared to have proceeded smoothly. But it had not. The simmering family dispute has come to light because the chairman’s daughter took issue with the handover. On Thursday, Cho Hee-kyung, the eldest daughter of group Chairman Cho Yang-rai, applied to be her father’s guardian -- requesting the legal authority to care for the personal and property interes
Aug. 3, 2020
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Mobile game sales in S. Korea hit record high in H1
Sales of mobile games in South Korea soared to a record high in the first half of the year amid the coronavirus pandemic that has confined more people to their homes, industry data showed Monday. Combined sales of three app markets -- Google's Play Store for Android devices, Apple's App Store for iPhones, and ONE store -- stood at 2.83 trillion won ($2.37 billion) in the January-June period, up 1.3 times from a year earlier, according to the data by mobile big data platform IGAWorks. The figu
Aug. 3, 2020
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Chong Kun Dang’s net profit rises 100% on-year in Q2
Chong Kun Dang’s second quarter net profit rose 100 percent on-year due to decreased spending on marketing amid COVID-19 social distancing, and solid sales of its chronic illness treatments. Hi Investment & Securities said Monday it is upward-adjusting prospects for Chong Kun Dang by 26.9 percent from previous 130,000 won ($109) to 165,000 won. Shinyoung Securities set the prospect slightly higher at 170,000 won and reinforced the opinion to buy. Chong Kun Dang’s performance wa
Aug. 3, 2020
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Samsung opens in-house COVID-19 testing center
Samsung Electronics Co. said Monday it has set up an in-house virus testing center to ramp up its anti-virus measures amid the pandemic. Samsung opened a virus testing center inside its plant in Hwaseong, south of Seoul, becoming the first company in South Korea to have an in-house COVID-19 testing facility. The center will manage specimen collection, diagnostic tests and other related tasks with six medical professionals, the company added. Samsung's Hwaseong campus is one of the company
Aug. 3, 2020
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[Monitor] S. Korea’s exports shore up
South Korea’s exports in July declined by a single digit percent in four months after showing a double-digit drop for three consecutive months, data showed Sunday. The Ministry of Trade, Industry and Energy said the nation’s exports fell 7 percent on-year to $42.83 billion last month. In the aftermath of COVID-19, Korea’s monthly exports fell 25.5 percent in April, 23.6 percent in May and 10.9 percent in June, marking the third consecutive month of double-digit decline.
Aug. 3, 2020
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Hanmi Pharmaceutical founder dies at 80
Hanmi Pharmaceutical’s founder and chairman, Lim Sung-ki, died of a chronic disease Sunday at dawn after devoting his life to the South Korean bio industry. He was 80. Lim was the owner of Hanmi Pharmaceutical Group and the largest shareholder of Hanmi Science, the group’s holding company. Born in 1940 in Gimpo, Gyeonggi Province, Lim graduated from Chung-ang University’s college of pharmacy. He opened the Lim Sung-ki Pharmacy in Dongdaemun, Seoul, in 1967 and went on to
Aug. 2, 2020
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In terms of renewable energy usage, Korea lags behind most of the world
South Korea generates relatively little power from renewable energy, lagging behind most of the world’s countries, a report showed Sunday. According to the data compiled by France-based energy consulting firm Enerdata, renewable energy-based power generation accounted for only 4.8 percent of the nation’s net power generation, putting Korea 40th among 44 nations. The countries that appeared further down the list were all oil-producing nations from the Middle East, where demand for
Aug. 2, 2020
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UAE begins operations at S. Korean-built nuclear reactor
TEHRAN/SEOUL -- The United Arab Emirates (UAE) has started operations at the first unit of the South Korean-built Barakah nuclear power plant, Dubai's ruler said Saturday, marking the first operation of a peaceful nuclear reactor in the Arab world. Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum said in a Twitter post that nuclear fuel was successfully loaded into the first reactor of the nuclear power plant. In 2009, a South Korean-led consortium won a $20 billion contract to build four
Aug. 2, 2020
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Uniqlo to close 9 outlets in S. Korea amid trade dispute-caused boycott
Japanese fashion retailer Uniqlo said Friday it will close nine of its stores in South Korea next month amid a sharp fall in sales stemming from the new coronavirus outbreak and a trade dispute between Seoul and Tokyo. The closure came as online shopping has gained traction amid the COVID-19 pandemic and as its sales were hit hard by strained relations between the two neighboring countries over the trade tussle that started in July last year. The number of Uniqlo's shops in South Korea stands
July 31, 2020
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Daewoo E&C launches ‘arcloud’ commercial complex brand
Daewoo Engineering and Construction said Friday it is launching a new commercial facility brand “arcloud,” and open its first shopping center in Hanam, Gyeonggi Province, under that name. The construction company said the brand name combines the words ‘arc” and “cloud,” carrying the meaning of connecting people and cultural content. The first arcloud complex, which is a two-story building with one basement floor, will be opened in Gam-il district in Hanam,
July 31, 2020
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LG Chem anticipates smooth resolution with SK Innovation
LG Chem is talking with SK Innovation to reach a settlement regarding a trade secret violation suit against the latter, and anticipates a resolution before October, the firm said Friday. “We can settle the case through negotiations before the final decision in October, should the settlement be on a reasonable level based on objective facts,” said LG Chem during a quarterly conference call with investors. The US International Trade Commission has made a default judgement in favor of
July 31, 2020
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LG Chem’s EV batteries drive best-ever performance in Q2
LG Chem posted a second quarter revenue of 6.9 trillion won ($5.8 billion) and an operating profit of 571.6 billion won on Friday, marking an earnings surprise on the back of its electric vehicle batteries. The revenue is a 2.3 percent on-year increase and the operating profit a 131.5 percent jump, the best performance LG Chem has shown in any quarter. LG Chem credited improved productivity at its Poland plant -- arising from an increased number of quality products among all manufactured goo
July 31, 2020
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[Monitor] Relocation of Koreans in June highest in 5 years
The number of people who relocated to other areas within the country in June was the highest in five years, data from Statistics Korea showed. This was due to a rise in home purchases and rents, it said. According to the data that collected reports of new addresses, a total of 607,000 resettled, up 25.3 percent from a year ago. The Korea Appraisal Board said that the number of house transactions reached 138,578 in June, up 152.5 percent from a year ago, and the highest in 14 years. (khnews@h
July 31, 2020
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Govt. to create New Deal fund to funnel investments into future tech
South Korea's government is moving to create a special fund to support the New Deal initiative and help funnel investment into cutting-edge 5G technology, autonomous cars and eco-friendly sectors, the country's top economic policymaker said Thursday. In a message posted on his Facebook account, Finance Minister Hong Nam-ki said there is a need to divert large amounts of liquidity in the market from going into real estate and gold buying to more productive activities. The senior official said
July 30, 2020
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LG Electronics beats Whirlpool in Q2 earnings
If the semiconductor business perks up Samsung Electronics’ bottom line, it’s home appliance that does it for crosstown rival LG Electronics. LG Electronics posted an overall slide in its second-quarter earnings, but still came out resilient, posting earnings bigger than US’ Whirlpool. The company reported a 17.9 percent fall in revenue and 24.1 percent drop in operating profit, at 12.8 trillion won ($10.7 billion) and 495.4 billion won, respectively. However, in the consume
July 30, 2020
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Booyoung supplies housing in Cambodia
Booyoung Group said Thursday that it was entering the housing market in Cambodia for the first time and developing Borey Booyoung Sensok in Phnom Penh, the nation’s capital. According to the group, its local headquarters there, Booyoung Khmer Co., is developing the residential area in the capital’s Sensok district for 716 households. The company said it opened its sales office Wednesday and that construction is expected to finish in December 2021. Borey Booyoung Sensok will hav
July 30, 2020
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[Photo News] S. Korea, Cambodia begin official FTA talks
July 30, 2020
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SK to develop next-gen battery with Nobel Prize winner
SK Innovation said Thursday it has partnered with professor John B. Goodenough, who was awarded the Nobel Prize in Chemistry last year, to develop a next-generation battery. The South Korean battery maker and the 98-year-old professor at the University of Texas at Austin will co-develop all-solid lithium-metal batteries, which are potentially more powerful and safer than current lithium-ion batteries. “I hope to open a new era of a next-generation battery with SK Innovation,” t
July 30, 2020