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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Yoon set for talks with Marcos in Philippines
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Can Jennie break the K-pop solo artist slump?
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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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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Yoon honors veterans of Korean War in trip to Philippines
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2 US B-1B bombers conducted joint drill with S. Korean Air Force on Oct. 1 Armed Force Day
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[KH Explains] Can G-Star level up?
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Which firms will survive virus?
Although the continued spread of coronavirus has disrupted many industries in South Korea, those related to “untact” services -- referring to no-contact interaction, which have become an integral part of life -- have fared well and are expected to grow even further, according to industry sources Wednesday. E-commerce companies appear to be the biggest beneficiaries of the prolonged pandemic. Online shopping transactions in Korea amounted to 11.9 trillion won ($9.7 billion) in F
April 15, 2020
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Binggrae introduces sparkling water brand Santorini
Korean food and beverage giant Binggrae on Tuesday launched a sparkling water brand Santorini. The company hopes to make a mark in the 100-billion-won ($82.2 million) domestic sparkling water market here. Named after a Greek island Santorini in the southern Aegean Sea, its new brand will be available in four flavors: plain, lime, lemon and grapefruit. “As more customers are replacing soft drinks with sparkling water due to concerns over sugar, Binggrae has decided to join the growing
April 14, 2020
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Amorepacific sweeps up European quality awards
Korean cosmetics giant Amorepacific said Tuesday it was recognized by Monde Selection, an international quality institute with almost six decades of history. According to Amorepacific, the cosmetics firm’s three brands -- Vitalbeautie, Pleasia and Boncho Study -- won one gold, four silver and one bronze in the 2020 Monde Selection quality awards. In the diet and health products category, Vitalbeautie’s Ginseng Extract Ampoule won a gold award while the brand’s Metagreen an
April 14, 2020
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Hyosung makes eco-friendly bags with Samdasoo plastic bottles
Hyosung TNC said Tuesday it will make eco-friendly bags using plastic bottles with its textile brand Regen in a joint project with Jeju Province Development Corp. The textile and trading unit of Hyosung Group has signed a memorandum of understanding to establish a resource circulation system with the Ministry of Environment, Jeju Special Self-Governing Province, Jeju Province Development Corp. and eco-fashion brand Pleatsmama. Jeju Island Development Corp., which makes bottled water Samd
April 14, 2020
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‘Korea’s ICT industry will be hit hard by virus pandemic’
South Korea’s information and communications technology industry could suffer as spending by companies is poised to decline due to the COVID-19 spread, according to research firm IDC Korea on Tuesday. Spending on ICT systems is expected to decline this year due to the rise of companies’ emergency management system and short-term cost reduction, the research firm noted. In a recently published report “Korea ICT 2020 Market Outlook,” IDC revised down its forecast for m
April 14, 2020
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[Graphic News] Exports of farm goods inch up in Q1
South Korea's exports of agricultural products moved up 6 percent in the first three months of the year from a year earlier, with shipments to China remaining steady despite disruptions caused by the outbreak of COVID-19, the Agriculture Ministry said. Asia’s fourth-largest economy saw its exports of agricultural goods reach $1.74 billion in the January-March period, up 5.8 percent from a year earlier, according to the Ministry of Agriculture, Food and Rural Affairs. The figure excl
April 14, 2020
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Doosan Group likely to sell off affiliate as part of self-rescue plan
The cash-strapped South Korean conglomerate Doosan Group announced Monday it has submitted a self-rescue plan to its creditors, apparently including selling of an affiliate and pay cuts for executives. Doosan Group has been struggling to normalize troubled affiliate Doosan Heavy Industries & Construction Co. Last month, Doosan Heavy opened a 1 trillion-won ($821 million) credit line from South Korea‘s state lenders -- Korea Development Bank and Korea Export-Import Bank -- to preve
April 13, 2020
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McDonald’s introduces ‘Best Burger’ initiative in Korea
McDonald’s Korea said Monday that it has introduced its “Best Burger” initiative in South Korea for the fourth time in the world, and for the first time in Asia. According to the burger chain, “Best Burger” is a global initiative to improve cooking procedures and facilities and to use quality ingredients, with the goal of providing customers with the best burgers. McDonald’s, which operates in over 100 countries around the globe, first introduced the init
April 13, 2020
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Philip Morris vows job security during pandemic
Philip Morris International announced Monday that it would guarantee job security for its 73,000 employees worldwide throughout the COVID-19 pandemic crisis. “PMI will continue to contribute to the global response to this pandemic in every way we can. First and foremost, we will continue to support our employees and their families, and protect their safety and health. Nothing matters more,” PMI CEO Andre Calantzopoulos said. “Thanks to our employees across the world, working
April 13, 2020
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OB introduces sustainable beer packaging methods
South Korea’s largest alcoholic beverage provider by market share Oriental Brewery said Monday it has launched sustainable beer packaging for its flagship beer brand Cass. According to OB, it has replaced existing packaging boxes with 100 percent recyclable ones for a pack of 12, 500-milliliter bottles of Cass beer. For 640-milliliter bottles, the transition is currently taking place. “OB’s existing packaging boxes were previously 96-97 percent recyclable, but this is the
April 13, 2020
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SK Innovation adopts new brand ‘Hi !nnovation’
SK Innovation said Monday it has newly launched a unified brand to facilitate “deep change” and reestablish corporate values from the ground up in the face of challenges posed by the coronavirus outbreak. The new brand “Hi !nnovation” portrays its will to embrace new era by accelerating deep change through its “Green Balance 2030” initiative and is setting new corporate values, given the current economic circumstances, the company said. Though it started
April 13, 2020
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Job openings plunge in March over coronavirus uncertainty
Job openings at South Korean companies have fallen by a third in March on-year as businesses are struggling with the coronavirus pandemic, according to a local online job portal Monday. Saramin released an analysis of job openings in the first quarter of 2019 and 2020. According to the results, the hiring rate saw a 32.7 percent drop in March as the prolonged COVID-19 spread has increased uncertainties. The number of the companies analyzed was not disclosed. Considering that March is usuall
April 13, 2020
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S. Korea identifies 38 virus-neutralizing antibodies
South Korea has identified 38 coronavirus-neutralizing antibodies to treat those who are infected with the novel coronavirus, the country's public health agency said Monday. The state-run National Institute of Health (NIH) and local bio-pharmaceutical firm Celltrion Inc. secured the virus-neutralizing antibody candidates from the blood of people who tested positive for COVID-19, according to the Korea Centers for Disease Control and Prevention (KCDC). The neutralizing antibodies possess prope
April 13, 2020
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‘Demand for quality sleep rises amidst coronavirus blues’
The consumer market in Korea is experiencing a hiked interest for products that support deep sleeping, simultaneously with the increased sense of social unrest amid the coronavirus pandemic. According to Korea Ginseng Corp. on Monday, its health supplement pill Alpha Project Sleep Support’s revenue in March increased 32 percent compared to the month before. “It appears that the prolonged COVID-19 situation is disrupting sleep for many,” said Korea Ginseng Corp. “Whil
April 13, 2020
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LG Display’s transparent OLED to debut at general elections
LG Display said Monday that its transparent organic light-emitting diode screen will debut through MBC broadcasting station’s general election ballot counting show slated for Wednesday. A transparent OLED is a next generation see-through screen that allows viewers to look beyond the panel even with the power turned on. LG Display and LG Electronics had commercialized the transparent OLEDs last year, but this is the first time the product will be revealed to the public through a TV show
April 13, 2020
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[News Focus] As 'remote' gains momentum, how will medical system change?
The unprecedented spread of the novel coronavirus in the past months has forced medical professionals to seek ways to minimize their contact with patients in testing while maximizing the scope of tracking the infection. Industry watchers say that the South Korean Health Ministry’s smartphone applications, for instance, are an applied form of rudimentary telemedicine by allowing people to self-test during quarantine to report their conditions to medical professionals. In Korea, wh
April 13, 2020
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Regulatory void undercuts Korean renewable energy industry
A regulatory void is undermining South Korea’s renewable energy industry due to the government’s failure to lay down ground rules for the burgeoning industry. A lack of oversight has led to an increase in fraud and loopholes in safety, resulting in businesses calling for more regulations. According to a recent press release from the Korea Energy Agency, unlicensed solar power contractors are damaging the country’s renewable energy by impersonating government agencies suc
April 12, 2020
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Streaming platform Wavve partners with NBCUniversal to export Korean content
South Korean video streaming platform Wavve said Sunday it has signed a partnership with NBCUniversal to export original hallyu k-pop content to the US media giant. According to Content Wavve, operator of the platform, the partnership was signed via a video conference on Friday and will allow the company to supply original content -- up to five movies and TV series a year -- produced by three South Korea terrestrial broadcasters -- KBS, MBC and SBS -- to NBCU for the next three years. &ldq
April 12, 2020
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Doosan to sell off full 61% stake in Doosan Solus
Doosan Group is planning to sell all of its stake in material solutions affiliate Doosan Solus, intent to deliver an intensive self-rescue plan after receiving a massive bailout from state-run banks. According to industry sources Sunday, Doosan Group is negotiating with private equity fund SkyLake Investment on handing over all of its 61 percent stake in battery copper foil and organic light-emitting diode materials maker Doosan Solus for 600 billion to 800 billion won ($495 million-$660 mil
April 12, 2020
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FDA reapproves phase 3 clinical trial of Invossa
The US Food and Drug Administration has lifted a clinical hold on the phase 3 trial of Kolon Life Science’s osteoarthritis drug Invossa in the US after a 11-month suspension imposed in May. According to industry sources on Sunday, the FDA sent an official notice to Kolon TissueGene, the biotech unit of Korea’s pharmaceutical firm Kolon Life Science, to resume the phase 3 trial of its degenerative arthritis treatment drug Invossa in the US. The official FDA notice said that all
April 12, 2020