LG Electronics unveiled its new premium large-size smartphone V20 equipped with high-end audio capabilities and wide-angle lens cameras in South Korea and the US on Wednesday, as it seeks to revive its struggling handset business.The LG V20 -- categorized as a “phablet,” a combination of a phone and tablet -- is a follow-up model to the V10, a part of the “V Series” which stands as one of LG’s flagship premium smartphone lines alongside the “G Series.”LG’s new smartphone is designed to provide u

Technology Sept. 7, 2016

Samsung BioLogics, a contract manufacturer of biologic drugs under South Korean electronics giant Samsung Group, said Wednesday that it has obtained six manufacturing certifications for biologic drugs produced at its first plant in Songdo, Incheon.　Three monoclonal antibody drugs manufactured by Samsung BioLogics on behalf of its two clients Roche and Bristol-Myers Squibb were approved by the European Medicines Agency in July, the Korean biopharma CMO said.　Of the three products, two were newly

Technology Sept. 7, 2016

FUKUOKA, Japan -- South Korea’s whisky market is facing a dark age, in light of sluggish demand for strong liquors and pricey bars serving high-end foreign liquors.Today, major whisky brands are seeking ways to revitalize Korea’s lackluster whisky sales, which fell by 38 percent from 2008 to 2015. In lieu of such efforts, Diageo, the world’s largest distiller and producer of major whisky brands including Johnny Walker and Windsor, said it can help ease the problem by looking to the nearby market

Industry Sept. 4, 2016

South Korea’s Celltrion is one of the hottest companies to watch in the biopharmaceuticals world, with soaring share prices and rising expectations, but it may soon find itself being chased by competitors.Founded in 2002, the Korean drugmaker is considered a pioneer in the world’s emerging market for biosimilar drugs -- cheaper, near-replicas of expensive biologic drugs that have lost patent protection.Researchers work at a Celltrion lab. (Celltrion)Having jumped into the field earlier than othe

Industry Aug. 31, 2016

The South Korean government’s delay of its final decision on Google’s request for the country’s map data has drawn public criticism that the move sidesteps national security concerns and prioritizes trade relations with the US. 　The Transport Ministry stated Wednesday that it would hold back its decision on whether to allow Google to access its Korean map data, for another 60 days. The government needs more time to review its impact on national security and the local spatial information industry

Technology Aug. 25, 2016

South Korean internet company Kakao rolled out a new job information search service Wednesday ahead of the start of major companies’ fall recruiting season.Kakao, the operator of Korea’s top mobile messenger KakaoTalk and portal website Daum, has partnered with local job information website Jobplanet to introduce a new search page that displays information on some 15,000 companies registered under Jobplanet.Screenshots of Kakao and Jobplanet’s new job information search service accessed via Kaka

Technology Aug. 24, 2016

South Korea’s largest food company CJ CheilJedang said Tuesday that it has purchased US advanced biomaterials developer Metabolix, Inc.’s biopolymer intellectual property and laboratory equipment for $10 million, as it seeks to expand its biotechnology business portfolio.　CJ Group’s food business unit and Metabolix have signed a binding letter of intent for the given transaction, which will be fully implemented by mid-September, the companies said.CJ Group employees walk alongside the group’s he

Industry Aug. 23, 2016

Local startups are speaking out against South Korean IT giants that have allegedly plagiarized their services, saying that such unfair practices further marginalize smaller companies in the country’s highly competitive tech sector. 　Naver, the operator of Korea’s largest portal website, and Kakao, which runs the country’s leading mobile messenger KakaoTalk and portal website Daum, have been accused of copying software originally developed by local tech ventures.　Last week, the chief of Korean sp

Technology Aug. 22, 2016

Customers shop at the Lotte Department Store in Myeong-dong, central Seoul on Sunday, where diverse foreign luxury goods are being sold at discounted prices as part of a clearance sale. Korean shoppers have been heading indoors to local department stores lately, to avoid the heat wave that has swept the nation over the past few weeks. (Yonhap)

Industry Aug. 21, 2016

The soaring sales of Samsung Electronics’ newly-released Galaxy Note 7 smartphone are boosting South Korea’s telecom businesses as customers are subscribing to new network operators when purchasing the new smartphone.According to the nation’s three major telecom operators SK Telecom, KT and LG Uplus, a total of 57,904 subscription swaps — switching from one telecom operator to another — took place over the weekend since Galaxy Note 7’s local release last Friday.  Korean consumers line up to atte

Technology Aug. 21, 2016

South Korea’s leading internet technology companies are planning to grant local smartphone users an option to refuse mobile gift certificates sent by a third party within this year.Korean IT firms which operate mobile gift-giving and exchange platforms such as Kakao, SK Planet and KT Mhows said Sunday they will soon add such features to their services.The companies say that the decisions were made to enhance user convenience. But industry watchers suggest that a new antigraft law that takes effe

Technology Aug. 21, 2016

Kim Go-hee, a 22-year-old university student living in Iksan, North Jeolla Province, had one mission on a recent day trip to Seoul -- dining at South Korea’s first Shake Shack restaurant, which opened last month in Gangnam, southern Seoul.　　Kim, who was with her boyfriend, had to wait in line in the scorching heat for nearly an hour on Wednesday afternoon. Parasols and ice packs at hand, the couple passed the time by taking selfies in front of the store for Instagram and Facebook.　After successf

Industry Aug. 19, 2016

The US District Court for the District of Massachusetts on Thursday officially ruled Janssen’s main formulation patent on its blockbuster rheumatoid arthritis drug Remicade invalid, making way for the entry of biosimilars to the US market.The ruling brightens the prospect for South Korean biosimilars developer Celltrion and its regional sales partner Pfizer’s plans to debut Remsima, a biosimilar drug referencing Remicade in the US market in as early as October. The district court’s ruling also r

Industry Aug. 18, 2016

South Korea’s Dongwon Group, globally known as the owner of leading US canned tuna company StarKist Co., commemorated some 170 American veterans of the Korean War and their families in a ceremony Wednesday in Pittsburgh, Pennsylvania.The event was attended by members of the Korean War Veterans of Western Pennsylvania association and their families, StarKist President and CEO Andrew Choe as well as Dongwon Enterprise Vice Chairman Park In-gu. Dongwon Enterprise Vice Chairman Park Ingu (center, ba

Industry Aug. 18, 2016

Swiss pharmaceutical giant Novartis is facing mounting criticism in South Korea for failing to take full responsibility for bribing local doctors to boost its sales here over the past five years.　　Last week, the Seoul Western District Prosecutors’ Office indicted without detention six high-level officials at Novartis Korea, including former Chief Executive Moon Hak-sun, for providing 2.59 billion won ($2.34 million) in kickbacks to doctors in exchange for prescribing its products from 2011 to 20

Industry Aug. 18, 2016