South Korean network carrier KT on Monday said that it has successfully developed a new, cost-effective telecommunications device able to deliver next-generation 5G network signals inside closed buildings by using network infrastructures already installed in buildings.KT’s newly-built repeater -- a device which amplifies network signals for small areas or buildings and plays an integral role in enabling network services indoors -- runs on existing network cables and repeaters built for Long-Term

Technology Oct. 10, 2016

Starbucks Coffee Korea said Monday that more than 10 million users are now using its mobile order system “Siren Order” since the system was first launched here in May 2014. Available at Starbucks outlets nationwide, customers can order and pay for their drinks via the Starbucks Coffee Korea app. Korea was the first country in the world to adopt the “Siren Order” system. (Starbucks Coffee Korea)

Industry Oct. 10, 2016

South Korean cosmetics maker LG Household & Health Care has formed a joint venture with US-based hair care product maker Farouk Systems to expand its domestic and overseas business. 　LG H&H said Sunday that the two companies have agreed to step up their former partnership in Korea and form a 50-50 joint venture called LG Farouk Co.A number of Farouk Systems’ products on display (LG Household & Health Care)Since 2013, LG’s has been exclusively selling Farouk’s hair care brand Silk Therapy as well

Industry Oct. 10, 2016

South Korean cosmetics giant AmorePacific and the Korea Breast Cancer Foundation held the Seoul leg of the 2016 Pink Ribbon Love Marathon for breast cancer awareness Sunday.　The Seoul marathon was the last of an annual series of races that aim to spread public awareness about breast cancer -- the most common form of cancer among women -- and raise funds for low-income breast cancer patients. The Pink Ribbon Love Marathon for breast cancer awareness takes place at the Hangang Park in Yeouido, wes

Industry Oct. 10, 2016

South Korea’s financial authorities have launched a probe into reports that Hanmi Pharmaceutical leaked information on terminating its licensing partnership with Boehringer Ingelheim before making an official disclosure last week.　The Financial Service Commission said Friday that it has confiscated smartphones from Hanmi officials as part of the investigation. It would consider taking appropriate legal action if needed.　The FSC’s capital market investigation unit is looking into possibilities th

Industry Oct. 7, 2016

Korean network carrier SK Telecom on Thursday began receiving preorders for the Luna S smartphone, a mid-tier smartphone jointly developed by local electronics maker TG&Co. and SK Telecom. The Luna S, priced at 568,700 won ($511), is an upgraded handset based on its predecessor Luna, promoted to success here by Seolhyun of K-pop girl group AOA last year. It will begin official sales Wednesday. (SK Telecom)

Technology Oct. 6, 2016

German life sciences and chemicals giant Merck opened a new biopharmaceuticals production and development support center in Incheon’s Songdo district on Thursday, as part of its moves to ramp up its presence in the country’s fast-growing biotechnology industry.　Located in the heart of Korea’s fast-growing biotechnology hub, Merck’s M Lab Collaboration Center is designed to provide local clients such as Samsung BioLogics, Celltrion and Green Cross with more comprehensive training and research and

Technology Oct. 6, 2016

New data detailing the genome sequence of a Korean individual was published in the scientific journal Nature on Thursday, offering new reference points specific to the Asian population for genetic scientists around the world. 　Titled “De Novo Assembly and Phasing of a Korean Human Genome,” the new academic research was compiled by the Seoul National University’s Genomic Medicine Institute in partnership with Korean genetic sequencing firm Macrogen.A graphic of a human genome based on a Korean in

Technology Oct. 6, 2016

Samsung Electronics’ newly upgraded Galaxy A8 smartphone began sales in South Korea on Wednesday, aiming to appeal to customers looking for a premium smartphone at a lower cost.　Sold exclusively through local network carrier SK Telecom, the Galaxy A8 is a mid-tier smartphone priced at 649,000 won ($583) -- making it around 300,000 won cheaper than the premium Galaxy Note 7, which recently resumed sales in Korea.A model holds up the new Galaxy A8, which was released in Korea via SK Telecom on Wed

Technology Oct. 5, 2016

The South Korean Ministry of Food and Drug Safety said Tuesday that it has decided to uphold its conditional sales approval of Hanmi Pharmaceutical’s novel lung cancer therapy Olmutinib, which is suspected to have caused the death of one patient during clinical trials overseas.　Under the decision made by the ministry’s Central Pharmaceutical Affairs Council, doctors can prescribe Olmutinib, sold under the trade name “Olita Tab.” to local patients on the condition that they are thoroughly informe

Industry Oct. 4, 2016

South Korean drugmaker Hanmi Pharmaceutical’s plans to globally commercialize its novel lung cancer therapy are in jeopardy after a patient died of a severe skin-related side effect linked to the drug’s use.The future of Hanmi’s lung cancer drug began to turn bleak Friday -- when Hanmi’s licensing partner Boehringer Ingelheim announced it would return the drug's development and commercialization rights it had purchased from the Korean drugmaker in July 2015 in a deal valued at $730 million.The s

Industry Oct. 3, 2016

South Korea’s agricultural and livestock sectors are seeking ways to keep business afloat amid concerns the new anti-corruption law that came into force last Wednesday would freeze market demand for their major products.　The Improper Solicitation and Graft Act bans members of government agencies, private education institutions, and media outlets from giving and receiving meals priced over 30,000 won ($27), presents over 50,000 won and monetary gifts over 100,000 won.Also known as the “Kim Young-

Industry Oct. 3, 2016

South Korea’s leading mobile game developer Netmarble Games said Thursday that it will on Friday embark on regulatory procedures to pursue an initial public offering on Korea’s main bourse Kospi.　Netmarble said it will apply for regulatory review of its IPO by the Korea Exchange, with plans to complete the public listing by the year’s end or early next year.Industry watchers predict Netmarble’s market capitalization could reach up to 10 trillion won ($9.13 billion), given its growth potential. L

Technology Sept. 29, 2016

South Korean children’s content is finding its way to overseas audiences through YouTube and Google Play, thanks to the platforms’ ability to reach viewers without traditional limitations such as allocated TV time slots.　“New distribution platforms like YouTube and Google Play have fundamentally changed the way we bring our animations to our audience,” Lee Jong-yoon, a manager from Iconix Co. -- the creator of beloved homemade animations such as Pororo the Penguin -- said during a media event or

Technology Sept. 29, 2016

Faced with rising global competition and stagnant growth, SK Group, the country’s third-largest conglomerate has been searching for new, promising businesses to propel its continued growth in the long run.In gaining a sense of where the energy-to-telecom giant is headed for in the future, industry watchers typically turn to SK Holdings — the group’s parent company that steers the direction of SK’s 88 affiliates and subsidiaries.For now, SK Holdings’ vision for the group is five-pronged -- raisin

Industry Sept. 28, 2016