GS Engineering & Construction said Monday that it will begin using a four-legged robot named Spot at its construction sites following successful trials. This is the first time the robot -- developed by American engineering company Boston Dynamics -- will be put to work on construction sites in South Korea, said the building company, which is teaming up with construction software startup Cupix. During the tests earlier this month, Spot was equipped with cutting-edge devices such as an inter

According to a new set of real estate regulations announced Friday, owners of multiple homes in certain high-demand areas of Seoul will face comprehensive real estate taxes in the range of 1.2 percent to 6 percent, resulting in a heavier tax burden, starting next year. Those who own homes whose total value is between 2.3 billion won and 6.9 billion won will have to pay double what they do now, based on the assumption that their value will increase 10 percent next year. The government also i

Expectations are growing that South Korea will have plasma-derived COVID-19 therapy by the end of this year, but with the lack of blood donors, the deadline appears unrealistic. GC Pharma, which is leading the research and development of Korea’s plasma-derived therapy for COVID-19, aims to make its GC5131A pipeline commercially available this year. The drug will not eradicate COVID-19, but will lower the death toll among critically ill patients, a GC Pharma official told The Korea Herald

LG Chem, South Korea’s leading chemical company, has introduced its corporate social responsibility vision “LG Chem Green Connector,” the company announced on Monday. The chemical company’s new CSR vision focuses on education, environmental issues and others, according to the company’s announcement. To nurture future talents, LG Chemical is running a wide range of educational programs, to which it invites students and offers them resources for science education.

With Miquela, Imma, Sua, Vincent and now Samsung’s Neon, the CGI demographic grows

South Korea's nuclear safety agency on Friday recommended minor safety improvements for eight older reactors in service following stress tests carried out by its operator. The recommendation came after Korea Hydro & Nuclear Power Co., which runs the country's atomic power plants, conducted extensive safety inspections on such units as the Kori 2 and Wolsong 2 reactors from October 2016 through December 2018, the Nuclear Safety and Security Commission said. "Stress tests that reflec

Korean tech titan Samsung Electronics has been named Asia’s most popular brand for the ninth consecutive year, according to an international market report Friday. Samsung Electronics was listed top among 1,000 brands, according to the latest report by Campaign Asia-Pacific and Nielsen, which surveyed around 8,400 customers in 14 nations in Asia. Samsung Electronics was followed by Apple, Panasonic, LG Electronics and Nestle, the report said. Japanese tech firm Sony came in sixth place,

Japan’s exports to South Korea have plunged in the wake of its export restrictions, data showed Thursday. According to the Korea International Trade Association and the Japan Customs Association, Japan’s exports to Korea stood at 329.3 billion yen ($3 billion) in May, down 18 percent on-year. The figure is the lowest in 11 years and three months since February 2009 when it reached 32 billion yen. By Shin Ji-hye (shinjh@heraldcorp.com)

The South Korean unit of US tech giant Google Inc. has paid the local tax office 600 billion won ($501 million) in back corporate taxes, sources said Friday. Google Korea made the payment in January after the National Tax Service (NTS) slapped the penalty tax on the company for not paying proper taxes for profits generated in the country. Despite the payment, Google Korea has filed a complaint with the Tax Tribunal, which has yet to make a ruling on the case. The Tax Tribunal is recommended t

South Korea’s public pension fund National Pension Service unloaded its 0.6 percent stake in domestic game company NCSoft to acquire a 0.28 percent stake of nation’s top portal operator Naver, government data showed Thursday. According to regulatory filings, NPS sold off 54,438 shares of NCSoft on Tuesday and bought 452,938 shares of Naver on the same day. As a result, NPS’s stake in NCSoft fell to 11.82 percent from 11.22 percent while its stake in Naver rose to 12.84 pe

Hanwha Energy said Thursday it has won a solar power plant deal with 50 megawatt capacity in Spain. According to the Hanwha Group affiliate, it has signed a contract with Spanish firm GRS for the construction of the solar power plant in Seville, Spain. The plant will be completed by the end of this year at the earliest. The Las Naranjillas plant, equipped with 121,800 solar modules, is expected to generate electricity enough for 13,997 households and reduce 51,977 metric tons of carbon dio

Government to spend over 5 trillion won and relax regulations to boost the sectors

While South Korea’s tobacco market is expected to decline overall, the sales of heated tobacco products will edge up this year, a market research firm said Thursday. According to Euromonitor International, the Korean tobacco market reached 17.19 trillion won ($16 billion) in 2019. Of the total, 1.89 trillion won was spent on heat-not-burn cigarettes, which put the country as the second-largest market in the world after Japan. The industry tracker forecast Korea’s heating tobacco

South Korea's major cosmetics makers are forecast to have seen their operating profits fall nearly 20 percent in the second quarter from a year ago as sales at duty-free shops faltered amid the coronavirus pandemic, a poll showed Thursday. The combined operating profits of Amorepacific, LG Household & Health Care Ltd. and Aekyung Industrial Co. are estimated to have reached 319.2 billion won ($267.4 million) in the April-June period, down 19.3 percent from the previous year, according to t

Five bio associations in Korea and their 50-something member companies will discuss plans to support ongoing efforts to develop COVID-19 treatments and vaccines in Korea. The talks will be livestreamed on YouTube on Tuesday at 4 p.m. by the Korea Pharmaceutical and Bio-Pharma Manufacturers Association. The physical event will take place at KPBMA’s auditorium in Seocho-gu, Seoul. The Korea Biotechnology Industry Organization, Korea Biomedicine Industry Association, Korea Medical Devices