Samsung SDS, the internet technology solutions unit of South Korea’s Samsung Group, said Friday that it does not plan to spin off its logistics business this year, defying market expectations that the move would be made in the near future.　“We have no plans to spin off our Business Process Outsourcing unit (which provides global logistics services) this year,” Samsung SDS CEO Chung Yoo-sung announced during a shareholder meeting held in Seoul on Friday.Samsung SDS officially announced in June 20

Technology March 24, 2017

South Korea’s Samsung BioLogics announced Thursday that it has received the 2017 CMO Leadership Awards presented by the Life Science Leader magazine for the third consecutive year.　The company was awarded in all of the six categories in consideration -- overall quality, reliability, capabilities, expertise, compatibility and development.“Samsung BioLogics is honored to once again receive the CMO Leadership Award, which recognizes contract manufacturing organizations of the highest quality,” Sams

Industry March 23, 2017

South Korea began to raise the hull of the sunken ferry Sewol late Wednesday after confirming all conditions were right to push the salvage operation forward, a government official said. "We started to raise the hull of the Sewol at 8:50 p.m. and expect 13 meters of the 22-meter-wide ferry hull to be above the surface at around 11 a.m. Thursday," said Song Sang-geun, a spokesman for the Ministry of Oceans and Fisheries.  The site of the Sewol ferry sinking off the country's southwestern coast ne

Social Affairs March 22, 2017

Hyundai Motor Co. has launched a Genesis premium sedan in Russia to gain a share in the emerging market, the company said Wednesday. The country's biggest carmaker by sales introduced the G80 sedan, an upgraded version of the second-generation Genesis (DH) unveiled in 2013, at an exhibition hall in Moscow. The prices range from 49.5 million won ($44,000) to 66 million won depending on features, a company spokesman said. "Overall vehicle demand in Russia is on the decline due mainly to low oil pr

Business March 22, 2017

South Korea won the Asian Women's Handball Championship on Wednesday with a 30-20 win over Japan at home.Host South Korea claimed its third straight Asian title at West Suwon Chilbo Gymnasium in Suwon, Gyeonggi Province, thanks to Kim Jin-yi's team-high seven goals against the arch rival. Kim was also selected as the match MVP. South Korea's Choi Su-min (R) jumps to take a shot against Japanese players during the Asian Women's Handball Championship in Suwon, Gyeonggi Province, on March 22, 2017.

Sports March 22, 2017

Bulgaria on Wednesday pledged to continue to take "all necessary measures" to implement the latest UN Security Council resolution adopted last year to punish North Korea for carrying out its fifth nuclear test.In a statement released by its foreign ministry, Bulgaria said its has implemented a fresh restriction on transactions in North Korean coal and reduced the number of staff at the North's diplomatic mission in its capital. The North Korean Embassy in Bulgaria (Yonhap)The Sofia government re

Diplomatic Circuit March 22, 2017

Olympus has launched its new surgical system integration solution Endoalpha, designed to improve work efficiency of endoscopy units and operating rooms inside hospitals of all sizes, in South Korea.Endoalpha brings multiple tasks -- such as operating diverse medical devices and sending endoscopic images and videos -- under a single network, so they can be controlled via a single smart touch panel.A model uses the smart touch panel from Olympus Korea’s newly-launched surgical system integration s

Technology March 21, 2017

South Korean drugmaker Celltrion said Sunday that it does not expect to make changes to Celltrion Healthcare’s initial public offering timetable, brushing off concerns the listing process could be significantly delayed due to additional accounting inspections.The statement came following reports the Korean Institute of Certified Public Accountants has requested an in-depth audit into Celltrion Healthcare’s accounting methods, a move that could push back the firm’s IPO.Celltrion said it expects t

Industry March 20, 2017

South Korean mobile game giant Netmarble Games is out to raise as much as 2.66 trillion won ($2.4 billion) in an initial public offering as it seeks new capital to fund its continued global expansion.Netmarble said Monday that it has submitted a securities report to the Financial Services Commission to sell 16.95 million shares at 121,000 won to 157,000 won apiece. The shares are to be listed on Korea’s main bourse Kospi.The final share pricing will be set on April 24, after which the shares wil

Technology March 20, 2017

South Korean mobile messaging giant Kakao is moving to fulfill its corporate social responsibility with a unique, on-demand production system that benefits both small manufacturers and consumers — Kakao Makers.　Introduced in February 2016, Kakao Makers is a platform on which a company can present a product they plan to make and receive orders for a week. The firm will make that product only if it achieves the “minimum order quantity” — the number of units that must be produced and sold to make a

Technology March 20, 2017

Shortly after South Korean lawmakers passed a motion to impeach now-ousted President Park Geun-hye last December, National Assembly Speaker Rep. Chung Sye-kyun stepped up to deliver a speech to mark the historic occasion.  “What we’ve witnessed here today is a constitutional tragedy. … We must now gather our strength to move on,” a solemn Chung said, as realization started to sink in that this country of 50 million must now navigate its way through tough domestic and foreign challenges without a

Politics March 19, 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 fifth installment. -- Ed.In 2014, South Korean startup Zikto created a buzz in the still-nascent wearable device market by crowdfunding $165,000 on Kickstarter to build a unique, posture-tracking fitness band that provides feedback on a user’s walking posture by analyzing the speed and angle of their swin

Technology March 19, 2017

South Korean political parties showed mixed reactions on Friday to U.S. Secretary of State Rex Tillerson’s pledge to take stronger actions against North Korea.　The top U.S. diplomat told reporters in Seoul that all options, including military force, remain on the table in dealing with its nuclear and missile threats, declaring that the so-called strategic patience with Pyongyang has ended.  　“We highly appreciate his comments as he expressed a strong willingness to respond to North Korea‘s reckl

Politics March 17, 2017