The Korea Herald

New design for The One Impact

KT&G Corp., Korea’s largest tobacco producer, said it plans to release a repackaged version of its The One Impact cigarettes starting Monday. The renewed One Impact, the latest in its six-variety range, comes in sky blue packaging and gives a rich flavor despite lower levels of tar, the Seoul-based manufacturer said. Introduced in March 2011, the product contains 1 milligram of tar and 0.1 milligram of nicotine. It costs 2,500 won ($2.2) per pack. (heeshin@heraldm.com)

Industry March 5, 2012

Maersk benefits from Korea’s economic ascent, e-commerce boom

Chief of Korea unit forecasts up to 6% growth for 2012While spiraling oil prices, falling rates and the oversupply of ships cast a blight over many shipping companies at home and abroad, Maersk Korea Ltd. appears rather bullish. A growing thirst for Korean products around the world, coupled with a global e-commerce boom, is helping keep the world’s largest shipping line afloat amid the industry’s biggest crisis in years. Yet, this drift will only continue in the coming years, the chief of the Da

Industry March 5, 2012

Maersk benefits from Korea’s economic ascent, e-commerce boom

Seoul shares up 0.22% on ECB action, upbeat data

Korean stocks advanced 0.22 percent Friday, tracking a rally in overseas markets, as investor sentiment was boosted by a second round of cash injections from the European Central Bank and improved U.S. economic data. The local currency rose against the U.S. dollar.The benchmark Korea Composite Stock Price Index advanced 4.37 points to end at 2,034.62. Trading volume was moderate at 476 million shares worth 5.76 trillion won ($5.16 billion) with gainers leading losers 497 to 316.The Dow Jones ind

March 2, 2012

Apple, Samsung lose patent suits against each other in Germany

Apple Inc. and Samsung Electronics Co. both lost patent cases against each other in a court in Germany on Friday in the latest twist in the long-running battle between the two electronics powerhouses over mobile phones and tablet computers.The Mannheim Regional Court turned down Samsung’s attempt to defend its mathematical coding procedures in processors. It also rejected Apple’s claim over features for unlocking touch screens. Delivering the verdict, Presiding Judge Andreas Voss said neither c

Industry March 2, 2012

Apple, Samsung lose patent suits against each other in Germany

Hynix pushes up SK Group’s exports

SK Group’s exports hit an all-time high between January and February, prompted by robust sales from its new affiliate Hynix Semiconductor, the Korean industrial group said Friday.The group said its seven affiliates together registered 10.6 trillion won ($9.5 billion) in exports in the first two months of this year, up nearly 36 percent from a year ago.Exports accounted for more than 71 percent of their combined sales, which came in at 14.9 trillion won during the two-month period, the group note

Industry March 2, 2012

Merck, Celltrion, Hanwha show off progress, boost prospects at specialized eventBiotechnology and medical experts on Wednesday underscored the significance of biosimilars as a key driving force behind the global pharmaceutical industry at a forum in Seoul.Some 250 officials at drug companies, state agencies and consultancies from around the world took part in the 2012 Global Biopharma Technology and Policy Forum hosted by the European Union Chamber of Commerce in Korea and the state-run Korea He

Industry March 1, 2012

Biosimilars hog limelight at biotech forum in Seoul

Samsung vows to stamp out collusion

Amid simmering criticism over collusion and price fixing among industry giants, Samsung on Wednesday mapped out a set of measures to head off the rampant illicit practices within Korea’s largest conglomerate.The package, a follow-up to its November program, is aimed at establishing “systemic safeguards against any temptations to collude in tough business environments,” Samsung Group said in a statement. Under the plan, the company will conduct regular monitoring on all affiliates, expand its e-m

Industry Feb. 29, 2012

KEPCO completes coal plant in Jordan

Korea Electric Power Corp. has completed its coal-fired power plant in Jordan with a capacity of 373 megawatt, the state-run utility said Tuesday.A consortium led by Korea’s sole power grid operator in July 2008 grabbed the deal worth $460,000, the company’s first in the Middle East. Under the contract, KEPCO will keep a 25 percent stake in the facility for the next 25 years and its affiliate Korea Southern Power will maintain and operate it. The Jordanian government will provide a payment guara

Industry Feb. 28, 2012

Asan Nanum launches venture capital fund

The Asan Nanum Foundation, a charity set up by Hyundai Heavy Industries and its affiliates, said it launched on Tuesday a venture capital fund to help young entrepreneurs.Hyundai Heavy and its affiliates together will channel an additional 100 billion won ($88.8 million) into the fund, the shipbuilder said. Three companies ― KCC, Korea Flange and Hyundai Department ― have joined the initiative. The fund will be operated in consultation with industry experts and angel investors, the company added

Industry Feb. 28, 2012

Korean robotics industry picks up steam

Korea’s robotics industry is picking up steam as government-led pilot programs are spurring sales and exports, while carving out new niches in the fledgling market. About 200 local robotics firms are expected to have generated at least 2 trillion won ($1.77 billion) in output last year, an official at the Ministry of Knowledge Economy said Monday, citing preliminary data. The ministry plans to release the final figures as early as June. Yet the tally is up about 12 percent from 2010 and more tha

Industry Feb. 27, 2012

KT shows off femtocell technology

KT Corp. said Monday that it showcased its Long Term Evolution femtocell, a one-chip solution that combines the central processing unit and modem functionality, at the Mobile World Congress in Barcelona.Dubbed the finest technology being operated on the firm’s internet infrastructure, it is expected to guarantee voice quality not only indoors but also in underground areas, according to KT officials.Femtocell is a small base station which targets improving network connections for small indoor spa

Industry Feb. 27, 2012

Hynix presents smart mobile solutions

Firm goes forward with first reshuffling move following SK takeoverHynix Semiconductor said Monday that it introduced smart mobile solution products at the Mobile World Congress in Barcelona for the first time in partnership with its new owner SK Telecom.With a theme of “Hynix enabling a ubiquitous world,” the global top memory chipmaker features mobile solutions like 20 nanometer class 4 gigabit DDR3 dynamic random access memory and 30 nanometer class 4 gigabit LPDDR3 DRAM, said Hynix officials

Industry Feb. 27, 2012

MTU, Asiana clinch deal for engine maintenance

MTU Maintenance Hannover, a German engine maintenance services provider, said Monday it has won an order from Asiana Airlines to provide maintenance, repair and overhaul services.Under the deal, MTU will be in charge of the Korean carrier’s CF6-80C2, an engine made by General Electric Aviation to power its Boeing 767 and 747 fleets, for the next five years. The deal terms were not made public.The German company is an MRO unit of MTU Aero Engines, an engine manufacturer. The deal is its first wit

Industry Feb. 27, 2012

Korea braces for oil price spike

With crude prices spiraling out of control amid tensions surrounding Iran, concerns are surfacing of a fresh oil shock. Korea’s benchmark Dubai crude jumped to $121.57 a barrel, the highest since August 2008, on Singapore’s spot market on Friday. Brent crude, a global yardstick, touched a nine-month high of $125 a barrel.Korea, the world’s fifth-largest crude buyer, imports almost of its oil needs.Runaway fuel costs are threatening to push up consumer prices and in turn jeopardize the central ba

Feb. 26, 2012

Government to back SK Biopharm’s epilepsy drug development

SK Biopharmaceuticals Co. said Sunday it plans to carry out clinical tests for its epilepsy drug candidate in four countries as part of a government program to cultivate blockbuster drugs, targeting the international market. The drug unit of Korea’s third-largest conglomerate has since 2006 been developing a medicine for intractable epilepsy, a set of chronic neurological disorders typified by seizures. The product, codenamed YKP3089, is currently in small-scale second-phase trials in the U.S. T

Industry Feb. 26, 2012

Articles by Shin Hyon-hee