Line, the Japan-based mobile messenger operator owned by South Korea’s Naver, has announced plans to launch its own cryptocurrency and an underlying blockchain network to support it, in a move to attract more users to the Line business ecosystem.　The company plans to launch the digital tokens, dubbed Link, this month. Link tokens will not be issued in the form of an initial coin offering but via a reward system that gives users Link in exchange for using and engaging in services within Line.The

Technology Sept. 2, 2018

South Korean video game giant Nexon is working to expand its employee benefits, ranging from cultural and educational programs to special vacations for longtime employees, as it strives to keep in line with a corporate culture that prioritizes work-life balance.Among Nexon Korea’s most popular offerings is an arts and culture class program called Nexon Forum. Operational since 2012, the program has held more than 100 classes so far in areas such as woodcraft, pottery making, choral training and

Technology Sept. 2, 2018

Kakao, operator of South Korea’s top-used mobile messenger KakaoTalk, is moving to extend its influence in its major business divisions, through strategic acquisitions in the e-commerce sector and partnerships in the artificial intelligence platform business.　Kakao is reportedly looking to acquire Korea Center, which operates international shopping support site Malltail that helps Korean consumers make direct purchases from overseas sites and ships the purchased goods to Korea.A man makes an onl

Technology Aug. 30, 2018

South Korean biopharma company Medytox said Wednesday that it had submitted a biologics license application for its type A botulinum toxin drug, Medytoxin, to the Taiwan Food and Drug Administration.　Medytoxin has been filed for approval under the name Neuronox in Taiwan. If approved, the BTX product will be marketed locally by Medytox Taiwan, a joint venture between Medytox and Dynamic Medical Technologies, a Taiwanese medical equipment company with a specialty in aesthetic lasers.Neuronox woul

Industry Aug. 29, 2018

Kakao, the operator of South Korea’s most widely used mobile messenger service, KakaoTalk, said Wednesday that it will begin developing a medical big data platform in partnership with the Asan Medical Center in Seoul.The envisioned big data platform would pool and consolidate different kinds of medical records and other information into one integrated system, so they can be utilized and analyzed by interested parties.Kakao Investment, Kakao’s venture investment arm, has signed an agreement with

Technology Aug. 29, 2018

South Korean biopharma company Celltrion said Wednesday that it has concluded all clinical trials for its subcutaneous (SC) version of Remsima, and is scheduled to seek approval for the drug from European drug regulators by the year’s end.Celltrion said it had concluded phase 3 clinical trials for Remsima SC and is now preparing to submit the drug for approval to the European Medicines Agency in the latter half of the year.　 Celltrion employees are seen in an R&D lab at the company's headquarter

Industry Aug. 29, 2018

Factories have grown smarter over the years with tech-driven facilities automation and process optimization. And today, the concept of smart factories has taken on a new meaning with the adoption of artificial intelligence and big data analytics technologies.　Embracing this development, Samsung SDS has set out to be a leader in “intelligent factory” management solutions, which uses AI, the internet of things technology and data analytics to manage factories more efficiently and cut down operatio

Technology Aug. 28, 2018

Three out of 4 patients in South Korea were unaware of whether the medication they were taking was an original or generic drug, suggesting generally weak public understanding of drugs and their properties, according to survey results released by Bayer Korea on Tuesday. According to a survey of 1,000 Koreans aged between 40 and 60 on how knowledgeable they are about medication they regularly take, 71.5 percent did not know if the drug they were taking was an original or generic.Another 75.7 perce

Industry Aug. 28, 2018

Daewoong Pharmaceutical Chairman Yoon Jae-seung stepped down from his post Monday, following recent accusations that he had repeatedly abused employees with verbal threats and profanities during meetings.It marked yet another case of “gapjil” -- a Korean term referring to the abuse of power against a person in a lower-level position -- involving the controlling family of a major South Korean corporation. Daewoong Pharmaceutical is one of the country’s biggest pharmaceutical companies that is fam

Industry Aug. 27, 2018

Kumho Tire’s newly launched premium tire model Majesty 9 has been recording strong sales performance, with the market responding positively to the tire’s superior quality and upgraded features, the company said Monday.　According to Kumho, average monthly sales of the Majesty 9 SOLUS TA91 since May has been 30 percent greater than that of the tire’s former model in the same period last year, reflecting the newer model’s appeal.　The Majesty 9 tire offers a quieter and more comfortable ride on the

Industry Aug. 27, 2018

P&G Korea said Friday that it has named Balaka Niyazee, current director of sales at SK-II Worldwide under P&G, as its new general manager.Niyazee will replace the outgoing chief Kim Joo-youn, who has been newly appointed as the vice president of Gillette Asia. The new P&G Korea head will assume her post on Oct. 1, according to the company. P&G Korea`s new general manager Balaka Niyazee (P&G Korea)Niyazee initially joined P&G as a sales representative at P&G India. Since then, she has built up e

Industry Aug. 24, 2018

Samsung Electronics on Friday officially launched the Galaxy Note 9 smartphone in 56 markets around the world, including South Korea, the US, Canada, China and India, as well as all of Europe and Southeast Asia.Following this initial rollout, the South Korean tech giant plans to bring the Note 9 to 120 markets by early September, and embark on expanded marketing activities, the company said.The ninth edition of the Galaxy Note series sports a 6.4-inch AMOLED display and the largest-ever battery

Technology Aug. 24, 2018

When 30-year-old Kim Young-hoon started a new job at a tech firm in Pangyo this year, he decided on a practical investment: an electric scooter for his daily commute from his home in Seohyun-dong located about 5 kilometers away.　After all, whizzing to work on electric scooters seemed to be the popular thing in Pangyo, a tech-savvy neighborhood south of Seoul known for its quickness to adopt new technologies and trends.　Five months into scootering to work, Kim is beyond satisfied with his purchas

Technology Aug. 23, 2018

South Korean battery maker Samsung SDI is raising its focus on its small-sized lithium ion battery business, as the category has returned to the mainstream of cordless power tools and household devices popular today. Samsung SDI’s small-sized battery business is projected to bring in more than 400 billion won ($357 million) in operating profit this year, riding on strong global demand for cylindrical batteries, according to projections by local securities firms including Mirae Asset Daewoo.  (Sa

Technology Aug. 23, 2018

South Korea’s biggest used goods online marketplace Joonggonara has raised 5 billion won ($4.47 million) in fresh investment from JB Woori Capital and Kiwoom Securities, the company said Tuesday. Together with 8 billion won in Series A funding from venture capital investors in 2015, Joonggonara’s total funds raised now reach around 13 billion won, it added. Founded in 2003, Joonggonara is Korea’s largest online marketplace where users can buy or sell used goods, with more than 16 million monthly

Technology Aug. 21, 2018