South Korean video game giant Nexon Korea said Friday that it has tapped Lee Jung-hun, its Vice President of Business, to lead the company as its new CEO.Lee is slated to assume his new position this month, following board approval and related procedures. He will replace the outgoing CEO Park Ji-won, who will oversee Nexon’s global operations as its new Chief Operating Officer. Lee Jung-hun, who is set to become the new CEO of Nexon Korea this month (Nexon)Lee Jung-hun joined Nexon Korea in 2003

Technology Jan. 5, 2018

South Korea’s gaming industry closed a successful year in 2017, with mobile renditions of “Lineage” raising record sales while online games like “PlayerUnknown’s Battlegrounds” shot their way to the international spotlight. Stepping into 2018, Korea’s leading game companies are once again preparing to entice overseas users with an array of new games, looking to new markets beyond their home turf.Nexon is kicking off the new year with two new mobiles games -- martial arts role-playing game “Yulga

Industry Jan. 4, 2018

The World Health Organization’s latest decision to classify gaming addiction as an official mental health disorder this year has ignited an international controversy. 　The issue is gaining particular attention in South Korea -- home to a strong gaming industry and an avid gaming population -- which has long been caught between the responsibility to fight adolescent game addiction and the need to promote the country’s thriving gaming sector.　Last week, the WHO revealed plans to recognize “gaming

Technology Jan. 3, 2018

Since dominating the mobile messaging space in Asia’s major markets, Tokyo-based Line has been looking to transform itself into an all-around “smart portal” that links users in both their offline and online worlds.　Central to Line’s O2O vision is Line Pay, the mobile payment service created by Line and operated by its subsidiary Line Pay.　Three years in, Line Pay is on track to creating a new ecosystem where users can make payments with the touch of a smartphone anywhere and at any time, accordi

Technology Jan. 2, 2018

South Korea’s representative biopharmaceutical business body called for expanded government funding toward biotech research and development in 2018, stressing that sustained R&D is central to the industry’s growth and success.　The Korea Pharmaceutical and Bio-pharma Manufacturers Association stated that the Korean pharmaceutical industry is now on the verge of becoming a globally competitive force and that now is the time to focus on retaining this momentum.“For Korea’s pharma industry to become

Industry Jan. 1, 2018

South Korea’s Ministry of Food and Drug Safety on Thursday concluded that the level of chemical substances found in sanitary pads sold here are not hazardous to the human body. The conclusion came after the ministry conducted toxicity tests on sanitary pads, tampons, panty liners and diapers sold in Korea to check for levels of 74 volatile organic compounds such as cholorobenzene and acetone.“After conducting reviews and toxicity tests on 74 VOCs found in sanitary pads, we’ve concluded that thei

Industry Dec. 28, 2017

South Korea’s government and businesses have agreed to newly adopt “fast-track” approval procedures for next-generation medical devices whose success hinges on entering the market ahead of competitors.　They also agreed to push for new policies that would allow innovative medical devices to be certified on a global basis, as well as adopt a new “value-based” evaluation system for novel medical technologies with immediate value to society.The consensus was forged during an inaugural marathon polic

Technology Dec. 27, 2017

South Korea’s biopharmaceutical companies have had a mixed licensing record this year, with some striking major license-out deals and others losing their contracts over reporting issues related to clinical trials.　Last week, HanAll BioPharma — an affiliate of Seoul-based Daewoong Pharmaceutical — and Genexine both sealed licensing deals for their drug candidates with foreign pharma firms, raising market expectations for the two Korean drugmakers.HanAll Biopharma has licensed out the development

Industry Dec. 26, 2017

Reading a webtoon, or digital comics, has long been a passive experience. We read the story by scrolling down the screen of a smartphone. But this is on the verge of change in tech-forward South Korea, where the marriage of cutting-edge technology and web comics is creating a unique and interactive storytelling model that invites the reader into the picture -- in a literal sense.　Leading the push is Naver Webtoon, Korea’s biggest webtoon platform, operated by portal website Naver. It recently pa

Technology Dec. 17, 2017

South Korea’s representative internet business body on Sunday expressed regret over the US Federal Communications Council’s landmark decision to repeal net neutrality rules that had required internet service providers to offer equal access to all web content without discrimination.The Korea Internet Corporations Association released a formal statement citing “deep worries” over what they called negative consequences that the US FCC’s decision is expected to have on the global internet industry,

Technology Dec. 17, 2017

The Korea Herald is publishing a series of articles highlighting South Korea’s promising startups in the emerging sectors of digital health care and next-generation medical devices. This is the 15th installment. - Ed.ULSAN — Putting a needle through any part of the body is an unwelcoming experience. And the thought alone of injecting a sharp needle into an eyeball would make most people squirm.　 However, this is how doctors typically deliver anesthetic medicine into the eye before an intravitrea

Technology Dec. 17, 2017

Samsung BioLogics has completed the construction of its third plant boasting an annual production capacity of 180,000 liters in Songdo of South Korea.The Korean contract drug manufacturer announced that it has finished building its third production plant, which stands as the biggest single-site biologics drug manufacturing facility in the world.The facility is a four-square building that spans across 118,618 square meters, which is the size of around two football fields, according to Samsung Bio

Industry Dec. 15, 2017

As the world delves further into the digital revolution led by new, cutting-edge technologies, many South Koreans are seeking solace from the mainstream by embracing the simpler times of the past.　A key manifestation of this countertrend is the rise of “LP bars” -- retro music bars where visitors can listen to LP records of old music with an analog sound.Surprisingly, these bars are most popular among not older generations, but people in their 20s and early 30s who have found a new way of enjoyi

Industry Dec. 15, 2017

Facebook is slated to begin reporting taxes to the South Korean government by 2019, in line with its newly adopted tax policy under which the social networking giant will pay taxes in the country where sales are made, instead of booking all revenue in Ireland.Facebook announced this week that it will move toward a “local selling structure” in countries where the company operates offices to support sales to local advertisers, addressing growing calls for greater transparency by governments and po

Technology Dec. 14, 2017

Google Korea said Thursday that “Your Name,” a Japanese animated drama movie that hit South Korea’s theaters in January, was the most-searched term by users in Korea in 2017, with many other films and media content filling the local Top 10 search list. Google announces its annual rankings for the top Google searches each year, offering a glimpse into what people were most interested throughout the year. In Korea, Google’s search engine comes third in usage after local players Naver and Kakao-own

Technology Dec. 14, 2017