Most Popular
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Military aircraft evacuating S. Koreans in Lebanon returns home
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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Yoon set for talks with Marcos in Philippines
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Baseball star Hwang Jae-gyun, T-ara's Jiyeon file for divorce mediation
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Can Jennie break the K-pop solo artist slump?
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Firefighters’ 3,000 won meals spark nutrition concerns
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From thrillers to animation: Netflix's 2025 Korean originals promise universal fun, fresh stories
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Samsung vice chairman meets AI gurus to discuss future
Samsung Electronics vice chairman on Wednesday met with two leading experts in artificial intelligence to share the latest industry trends and strategies for future businesses, the company said. Lee Jae-yong, de facto chairman of the South Korean tech giant, met with Yoshua Bengio, professor of the University of Montreal, and Sebastian Seung, professor at the Princeton Neuroscience Institute and Department of Computer Science, who were in Seoul to attend Samsung's AI forum held early this week.&
Nov. 6, 2019
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Hyundai Oilbank to run oil terminal in Vietnam
Hyundai Oilbank Co., a major refiner in South Korea, said Wednesday it will run an oil terminal in Vietnam to tap deeper into the Southeast Asian market. The affiliate of Hyundai Heavy Industries Group said it has leased an oil depot in Ba Ria-Vung Tau, some 80 kilometers southeast of Ho Chi Minh City, that can store 200,000 barrels of petroleum products. The facility can also accommodate large crude carriers, it added. Hyundai Oilbank said the terminal will serve as its export hub f
Nov. 6, 2019
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NCSOFT's new 'Lineage 2M' to launch Nov. 27
South Korean online gamemaker NCSOFT Corp. said Wednesday the new mobile version of its mega-hit game "Lineage 2" will be launched later this month."Lineage 2M" will be available Nov. 27, the company said.Players will be able to experience the massively multiplayer online role-playing game for the mobile platform."Lineage 2M," which integrates NCSOFT's technology and expertise built over the past 20 years, will feature full 3-D graphics.NCSOFT said over 7 million pe
Nov. 6, 2019
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Hanjin Heavy to build S. Korea's 1st very large oil spill response vessel
Hanjin Heavy Industries & Construction Co., a midsized shipyard in South Korea, said Wednesday it has won a 70-billion-won ($60 million) order to build the country's first multi-purpose very large oil spill response vessel. Under the deal with state-run Korea Marine Environment Management Corporation, Hanjin Heavy will deliver a 5,000-ton OSRV by 2022. The vessel will be built at the company's shipyard in Busan. South Korea has more than 60 500-ton OSRVs, but due to their small size, t
Nov. 6, 2019
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[News Focus] What RCEP deal means to South Korea
The trade megadeal among 15 Asia-Pacific countries can be expected to provide South Korean exporters with new opportunities to enter fast-growing and promising markets in Southeast Asia and lay the foundation for a future trade bloc consisting of Korea, Japan and China, according to experts. After seven years of negotiations, the leaders of 15 nations reached agreement on Monday on all 20 chapters of the Regional Comprehensive Economic Partnership and expressed their willingness to sign it in 20
Nov. 5, 2019
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LS Cable, KEPCO commercialize superconducting cables
LS Cable & System and Korea Electric Power Corp. said Tuesday that they have for the first time in the world succeeded in commercializing superconducting cable technology thorough their joint projects. The commercial service has been launched in Yongin, Gyeonggi Province -- in a 1-kilometer section between Heungdeok substation and Singal substation Including LS Cable & System, five companies in Europe, Japan and the US have obtained superconducting cable technology so far, however the S
Nov. 5, 2019
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Golfzon opens 1st Zstrict in US
South Korea’s leading golf simulator maker, Golfzon, launched last week its first store in the US under its new brand Zstrict, as parts of its effort in expanding sports entertainment business in the country, the company said Tuesday.Located in Chelsea Piers, a sports complex in Connecticut, Zstrict offers tournament-type golf games that allow players to participate simultaneously against each other in numerous competitions for cash and rewards. With cash and rewards gained by comple
Nov. 5, 2019
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Samsung BioLogics, Ichnos Sciences eye W20tr atopic dermatitis market
Samsung BioLogics and US’ Ichnos Sciences inked a long-term agreement for the latter’s contract development of an atopic dermatitis treatment, the companies said Tuesday. This is a continuation of the 10 billion-won ($8.61 million) contract inked between the two in June 2018. For an additional 6.3 billion won, BioLogics will produce the drug substance for Ichnos’ atopic dermatitis treatment pipeline ISB 830 for clinical phase 3 trials and potentially manufacture for the global
Nov. 5, 2019
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S. Korean firms' sales, profit growth slows in 2018
Sales and profit of South Korean companies slowed down significantly in 2018 from a year earlier, though their financial stability improved slightly, a central bank report showed Tuesday, possibly indicating the start of economic headwinds that continue to haunt Asia's fourth-largest economy.In 2018, the combined sales of non-financial firms here rose 4 percent from the year before when the comparative figure jumped 9.2 percent on-year, according to the report from the Bank of Korea.Their averag
Nov. 5, 2019
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Korean version of ‘Las Vegas’ to emerge in Incheon
UNCASVILLE, Connecticut -- Incheon, home to South Korea’s largest international airport, is set to transform into a comprehensive entertainment zone representative of Northeast Asia, according to officials.A five-star hotel, an arena, convention facility, casino and theme park are being fast-tracked at the International Business Center of the airport. The Incheon International Airport Corp. said Tuesday that the integrated entertainment resort project -- the largest in Korea under the name
Nov. 5, 2019
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Imported car sales up 6.2 % in Oct., Japanese brands suffer extended slump
Imported car sales in South Korea rose 6.2 percent on-year last month helped by new models, but Japanese brands still struggled feeling the pinch of a boycott against Japanese goods amid trade tensions between Seoul and Tokyo, industry data showed Tuesday. The number of newly registered foreign vehicles rose to 22,101 units in October, up from 20,813 a year earlier. But Japanese vehicle sales plunged 58 percent to 1,977 from 4,756 during the same period, the Korea Automobile Importers & Dist
Nov. 5, 2019
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Samsung shuts down custom CPU development project in US
Samsung Electronics Co., the world's largest memory chipmaker, has stopped development work on its custom central processor unit cores at its R&D centers in the United States, company officials said Tuesday.Samsung has notified the Texas Workforce Commission of its decision to lay off about 290 members of the custom CPU core teams in Austin and San Jose as of Dec. 31, the Korean tech company said. Starting in 2012, the project has produced custom CPU cores for the Exynos series, its own mobi
Nov. 5, 2019
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Pharma experts throng Frankfurt for CPhI Worldwide 2019
FRANKFURT -- Celebrating its 30th anniversary, CPhI Worldwide 2019 is being held in Frankfurt, Germany, this week, with over 45,000 participants from the pharmaceutical industry.At the biggest global annual pharma event, participants will attend a three-day course from Tuesday on the latest medical solutions while getting a chance to network with peers. Presentation on the different pharma development and manufacturing processes, technology and products are scheduled at six subevents.In the main
Nov. 5, 2019
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15 countries, including Korea, to sign trade megadeal
Leaders from 15 Asia-Pacific countries, including South Korea, China, Japan, Australia and New Zealand, declared that they had reached agreement on all 20 chapters of a trade megadeal and expressed their willingness to sign it in 2020, officials said Monday. Called the Regional Comprehensive Economic Partnership, it is in essence a massive regional trade deal among the 10 members of the Association of Southeast Asian Nations and the six countries with which ASEAN has free trade agreements -
Nov. 4, 2019
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46 foreign companies receive government awards for investment
Forty-six foreign companies received government awards for their investments in advanced technologies and for creating jobs in South Korea, during an annual event for foreign companies held Monday. Foreign Company Day, hosted by the Industry Ministry and the Korea Foreign Company Association, or FORCA, is a ceremony that has taken place since 2001 to recognize contributions to attracting foreign investment here. The 46 awardees include the Korean arm of US-based firm Air Products and Chemi
Nov. 4, 2019
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[Foreign Execs in Korea] Taking Korean defense technology to the world
The decadeslong standoff between the two Koreas has presented a struggle for Asia’s fourth-largest economy, but it has, ironically from a business perspective, ensured the continuous development of its defense industry. One of the driving forces that has led the development of South Korea’s defense technology is Hanwha, a conglomerate that started as a gunpowder supplier in the then war-torn country 67 years ago. It has since evolved into an energy-to-chemicals empire, but the defens
Nov. 4, 2019
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KB Kookmin Bank enters telecom biz with cheaper subscription plans
Seeking to diversify its portfolio, South Korea’s KB Kookmin Bank said Monday it has launched a low-cost subscription plan for telecom services. Smartphone users here can register for the company’s LiveM subscription plan on a trial basis. It plans to provide full-fledged, nationwide services next month. Subscribers can also enjoy the ultrafast 5G wireless services on compatible smartphones such as Galaxy Note 10, according to KB Kookmin Bank. “We expect the convergence of
Nov. 4, 2019
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KT plans to innovate IPTV with AI curation, VR contents
Korean telecom giant KT on Monday pledged to transform its internet TV service with the technologies of artificial intelligence and virtual reality to improve the company’s standing in the paid TV market. During its press conference held in downtown Seoul, KT announced a plan to overhaul its IPTV platform to meet the consumers’ changing needs. According to KT, the innovation plan for IPTV service consists of three components: an AI-based recommendation system, VR-assisted streaming o
Nov. 4, 2019
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Hyundai Heavy to receive W1.4tr in proceeds from stake sale in refining unit
Hyundai Heavy Industries Holdings Co., the holding company of South Korea's top shipbuilding conglomerate Hyundai Heavy Industries Group, said Monday it will receive 1.4 trillion won ($1.2 billion) in proceeds next month from the sale of a stake in its refining unit.In April, Hyundai Heavy signed a deal with Saudi Aramco to sell a 17 percent stake in Hyundai Oilbank Co. to the world's largest crude exporter to improve its financial structure. The deal also includes the Saudi oil firm holdi
Nov. 4, 2019
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Budget airlines upgrade in-flight services, diversify routes
Amid fierce competition, Korean low-cost carriers are seeking to attract more passengers by upgrading their in-flight services and diversifying routes. They had previously focused on no-frills cheap flights without meals and entertainment. But in early October, Air Seoul -- under the country’s No. 2 full-service carrier Asiana Airlines -- began offering in-flight movies, a first for a low-cost carrier here. The LCC operates the Airbus 321-200, which has personal screens for each seat, unli
Nov. 3, 2019