New road for Saudi oil minister Saudi Aramco board members including president and CEO Khalid A. Al-Falih (far right) and S-Oil CEO Nasser Al-Mahasher (left) attend an unveiling ceremony for the new 1.3 km-long “A. I. Naimi Road” named after Saudi Oil Minister Ali Al-Naimi (second from left) at S-Oil’s Onsan Refinery in Ulsan, last week. Aramco, Saudi Arabia’s state-run oil firm, is the majority shareholder of S-Oil.

Industry April 28, 2015

South Korea’s leading tech giants are set for fierce competition in the global smartphone sector, as LG Electronics is set to unveil its new flagship smartphone the G4 in six global markets on Wednesday, just weeks after Samsung released the Galaxy S6 and S6 Edge.Both Samsung and LG have been pinning high hopes on their latest smartphone models, each equipped with unique cutting-edge features and all-new designs.The upcoming LG G4 is expected to be equipped with the industry’s most advanced tech

Technology April 27, 2015

Audi Korea is stepping up efforts to expand customer service by pledging to enhance its repair services and increase the number of customer service centers nationwide by the end of 2015.The German automaker said it is scheduled to open 15 additional customer service centers this year, operating 40 centers in the country to better address local customer needs. It will also expand the number of repair stations at the center by 55.8 percent, establishing a total of 469 repair stations this year. Th

Mobility April 26, 2015

South Korean cosmetics brand AmorePacific and the Korea Breast Cancer Foundation kicked off the Busan leg of this year’s Pink Ribbon Love Marathon on Sunday. The annual event aims to spread awareness about breast cancer ― the most common form of cancer in women ― and raise funds for low-income breast cancer patients. Over 5,000 men and women gathered at the Busan Yachting Range to take part in the race, which is celebrating its 15th anniversary this year. The Sunday event featured various sponso

People April 26, 2015

South Korea’s largest social commerce giant Coupang is intensifying its legal battle with WeMakePrice, demanding 10.3 billion won ($9.54 million) in compensation from the rival firm for its negative advertising, industry sources said Friday.The amount is about 100 times higher than the 100 million won the e-commerce firm demanded in the case’s initial filing in 2014.“Coupang took this legal action in hopes of preventing unfair competition in the future and sending a warning to those who choose t

Industry April 24, 2015

Industry April 23, 2015

As the international community prepares to celebrate the 2015 World Intellectual Property Day on Sunday, South Korean lawmakers, intellectuals and high-level officials on Thursday vowed to step up efforts to strengthen IP protection by declaring the nation’s own inaugural Intellectual Property Day.The World Intellectual Property Association of Korean Practitioners, launched by the Science Ministry in 2013, held a ceremony at the National Assembly to establish this new day, which aims to promote

Industry April 23, 2015

Board members of Saudi Aramco, the world’s largest crude oil exporter, visited Hyundai Heavy Industries’ headquarters and S-Oil’s refinery construction site, in Ulsan on Tuesday, according to reports.The delegation, including Saudi Arabia’s Oil Minister Ali Al-Naimi, Aramco CEO Khalid Al-Falih and nine other members of the board, arrived in Korea on Monday.During their trip to the world’s largest shipbuilder, they examined its offshore plant construction facilities, an engine factory and an area

Industry April 22, 2015

At a U.S. major league baseball game Friday at Safeco Field, home to the Seattle Mariners, the CEO of a Korean wireless communications and LED firm threw the ceremonial opening pitch.Kim Duk-yong, the CEO of KMW, landed the rare pitching opportunity as the Korean firm recently took charge of Safeco Field’s revamp ― replacing metal halide lights with LED lighting throughout the stadium.  KMW CEO Kim Duk-yong (center) poses at Safeco Field in Seattle.Safeco Field is now officially the first U.S. m

Industry April 21, 2015

Recent strides in South Korea’s secondary stock trading board, KOSDAQ, have led to a significant rise in the number of shareholders who own more than 100 billion won ($92.5 million) in stock value, according to data from a market tracking agency.After the KOSDAQ index exceeded the 700-point mark for the first time in seven years on Friday, a total of 64 shareholders held stocks worth more than 100 billion won, the highest figure ever recorded, according to Chaebul.com. The KOSDAQ index closed at

April 19, 2015