Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[Graphic News] More Koreans say they plan long-distance trips this year
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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Samsung may seek appeal over US verdict
South Korean tech titan Samsung Electronics on Friday vowed to consider all options over a US verdict that ordered it to pay its rival Apple additional damages for design infringement, including seeking an appeal. A jury of the US District Court in San Jose made a decision that Samsung must pay Apple $539 million in damages for infringement of Apple’s design patents. “Today’s decision flies in the face of a unanimous Supreme Court ruling in favor of Samsung on the scope of design patent damages,
TechnologyMay 25, 2018
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S. Korean companies voice concerns over NK-US summit fallout
Following US President Donald Trump’s cancellation of a summit with North Korean leader Kim Jong-un, South Korean companies have voiced concerns about the possible impact on the domestic situation, but they are taking a wait-and-see approach.An official from the Korea Chamber of Commerce and Industry was quoted as saying that “since both sides aim to reach a mutual goal, we hope things go well, but it is still early to make a hasty conclusion.”The Federation of Korean Industries also expressed r
IndustryMay 25, 2018
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China's tour ban lifting yet to help related sectors: sources
South Korea's cosmetics and tourism industries have yet to benefit much from China's lifting of a ban on group tours to Seoul despite a recent gain in the number of Chinese visitors, sources said Friday.In March last year, China took a set of retaliatory measures against Seoul, including a ban on group tours, following the installation of an advanced US missile defense system in southeastern South Korea. In November, Seoul and Beijing agreed to put their bilateral ties back on track by lifting t
IndustryMay 25, 2018
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Cancellation of US-NK summit expected to have limited impact on S. Korean market: BOK
The recent cancellation of the US-North Korea summit will likely have a limited impact on the South Korean financial market, a senior central bank official said Friday.The Bank of Korea held an emergency meeting at 8:30 a.m., hours after US President Donald Trump released his letter to scrap the planned meeting with North Korean leader Kim Jong-un on June 12 in Singapore.The closed-door meeting was chaired by Yoon Myun-shik, the senior deputy governor of the BOK, with several senior officials at
MarketMay 25, 2018
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Seoul asks Beijing for level playing field for Korean battery makers
South Korea asked China to create a fair business environment for its electric vehicle battery makers, which have been excluded from the list of Beijing government subsidies, Seoul's trade ministry said Thursday.Paik Un-gyu, the minister of trade, industry and energy, made the request in a meeting with Miao Wei, Chinese minister of industry, information and technology, in Seoul. Paik said he brought up Beijing's policy stance of excluding electric vehicles equipped with South Korean batteries fr
IndustryMay 24, 2018
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Korea to form task force following Trump’s automobile import tariff remarks
The South Korean government and automobile companies held a meeting Thursday to discuss how to respond to the potential impact following reports of US President Donald Trump ordering an investigation into automobile imports to see whether they threaten national security.The closed-door meeting was attended by senior officials from the Ministry of Trade, Industry and Energy and executives from Hyundai Motor, Kia Motors, GM Korea, Renault Samsung, Ssangyong Motor and Hyundai Mobis. “We agreed to f
IndustryMay 24, 2018
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KAI delivers medical, emergency helicopters to fire authority
Korea Aerospace Industries said Thursday it delivered its KUH-1EM utility helicopter for medical emergencies to the Jeju fire safety authority, and its KUH-1FS utility helicopter for forest services to the Korea Forest Service. This is the first time for KAI to deliver its utility helicopters to the KFS and the National Fire Agency, which had previously relied on imported ones. “We will provide our full support for KUH-1EM and KUH-1FS to seek their operational stabilization at an early stage for
IndustryMay 24, 2018
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Korea to maintain 3% growth target despite doubts: minister
South Korea’s economy will remain on its course to a 3 percent growth this year, the nation’s top economic policymaker said Thursday, downplaying lower forecasts by think tanks on sluggish employment and investment.“As for now, we have no plans to revise the 3 percent growth target,” Deputy Prime Minister and Finance Minister Kim Dong-yeon said in a morning radio interview with CBS.“The economy grew 1.1 percent in the first quarter this year, which is more or less o
EconomyMay 24, 2018
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Infiniti Q60 aims for ‘double whammy’ in design, performance
For those looking for a sports coupe, there are two major factors to consider before making a decision. Should one consider the vehicle’s unique design or its dynamic performance? Infiniti’s newly launched sports coupe is the answer to both, the luxury carmaker said.“The all-new-400-horsepower coupe not only stimulates drivers’ speeding instinct but also embodies Infiniti’s design philosophy of powerful elegance, making graceful racing possible,” said the company’s importer and distributor in Se
MobilityMay 24, 2018
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[From the scene] Masters of colors and sound behind meticulous tuning of LG OLED TV
PYEONGTAEK, Gyeonggi Province -- In a 10-cubic meter dead room levitating in a bigger cube space at the LG Digital Park, a microphone stand is set in front of an organic light-emitting diode TV to catch sweep signals of 121 sounds coming from the TV. The sound signals are represented as a linear graph on a computer monitor outside the dead room, which measures the balance of the sounds. “LG’s sound identity is to keep the original sound as much as possible, while providing adaptive sound automat
TechnologyMay 24, 2018
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Samsung BioLogics’ plant No. 2 wins FDA approval
South Korean biopharma company Samsung BioLogics has won approval from the US Food and Drug Administration for bio drugs manufactured from its second plant in Songdo, west of Seoul, the company said Thursday.(Yonhap)Winning the FDA’s approval means that the company can sell bio drugs manufactured from its second plant in the United States, according to the company. It also indicates that the firm has gotten the greenlight to manufacture a new bio product at the second factory, as companies have
IndustryMay 24, 2018
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Cosmax to apply for global standardization of sun care tech
South Korean cosmetics developer and original development manufacturer Cosmax said Thursday that it is in talks with the government for methods to authorize the global standardization of infrared protection factor developed by the company, the first attempt in the world.Cosmax said it has developed sun care technology through a new clinical method, which can numerically measure IPF by comparing before and after its IPF-block product was applied to one’s skin. Such technology can be applied to va
IndustryMay 24, 2018
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CJ ENM to set up Asia’s largest content studio in Vietnam
CJ ENM, a merged corporation of CJ O Shopping and CJ E&M officially launching in July, said Thursday that it will open Asia’s largest virtual commerce content production center in Ho Chi Minh, Vietnam, targeting audiences in Southeast Asian countries. The center, called DADA Studio Vietnam, will create and distribute at least 1,000 pieces of v-commerce content from early next year. Focusing on making use of the low-cost production system and high efficiency of the talent pool in Vietnam, CJ ENM
IndustryMay 24, 2018
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BMW Korea to host LPGA competition next year
BMW Group Korea, the local importer and distributor of the German luxury carmaker, said Thursday it has teamed up with the LPGA tour to hold a tournament in the southeastern port city of Busan next year. Kim Hyo-jun, chairman of BMW Group Korea (left), and Michael Whan, commissioner of the LPGA, pose during a signing ceremony of the local importer, which is hosting a tournament next year. (BMW Group Korea)Scheduled for October, the first event will be held at LPGA International Busan, the tour’s
IndustryMay 24, 2018
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[News Focus] Blockchain x healthcare: Korean startups out to build decentralized healthcare big data platforms
Blockchain, a distributed ledger system, is viewed as a revolutionary technology with applicative value across diverse sectors. But the big question has always been: where and how can blockchain be used to bring about practical changes? A handful of South Korea’s startups have set their eyes on healthcare data management -- creating a new blockchain-based healthcare data platform where health records can be safely stored and actively traded among stakeholders.The platform would be self-operation
TechnologyMay 24, 2018
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Posco allocates W1.1tr for improved safety
Posco will invest 1.1 trillion won ($101.9 million) for improved safety in the next three years, the company said Thursday. Its safety related budget has doubled after the death of four workers due to nitrogen gas inhalation at its steel mill in Pohang, North Gyeongsang Province, last January.A total 36.9 billion won will go to training safety professionals and setting up a safety control tower, 511.4 billion won will be spent on enhancing safety devices, and 11.4 billion won in educating partne
IndustryMay 24, 2018
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Top social commerce firms imposed with penalties over unfair practices
South Korea’s top three social commerce companies including Wemakeprice, Coupang and Ticket Monster, were imposed with a total of 130 million won ($120,000) in penalties over unfair business practices against their partner firms, according to the Fair Trade Commission on Thursday. This is the FTC’s first penalties imposed on social commerce companies, which use social networks in the context of e-commerce transactions. The market has reached more than 10 trillion won in Korea, according to indus
IndustryMay 24, 2018
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Hanwha E&C collects $239m from Iraq for Bismayah New City project
Hanwha Engineering & Construction has received $230 million from the Iraqi government for the Bismayah New City development project there, the company said Thursday.The latest payment includes outstanding payments from last year and part of this year’s contract fees.Hanwha E&C has so far received $3.4 billion out of the $10.1 billion contract. A bird’s eye view of the ongoing Bismayah New City construction (Hanwha Engineering & Construction)The firm won the construction deal with the Iraqi gover
IndustryMay 24, 2018
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Social enterprise Jeonju Bibimppang expands business
Social enterprise Jeonju Bibimppang, which is popular among travelers and locals, has been expanding its business in regions since its establishment in 2013 to create job opportunities for social minorities and foster Jeonju city’s economic development. Jeonju city is located in North Jeolla Province and is well-known for its signature bibimbap dish.SK Innovation had provided funds for the social enterprise to set up its business, and currently offers various support in finance, management, mark
IndustryMay 24, 2018
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BOK freezes key rate on emerging market woes
South Korea’s central bank kept the interest rate steady at 1.5 percent for six straight months in a unanimous board decision Thursday, citing external uncertainties due to an upshot in capital influx and currency woes from emerging markets.Despite relatively solid economic growth at home and abroad, the lingering uncertainties and low inflationary pressure on the demand side here led to the “accommodative monetary policy stance,” according to the seven-member Monetary Policy B
MarketMay 24, 2018