Food and pharmaceutical company CJ CheilJedang on Wednesday filed a nullity suit against Pfizer over the “use” patent of impotence medicine Viagra. “This is the first lawsuit filed to nullify the patent of Viagra in Korea. Other drug companies that are preparing for the generic forms are also keeping a very close watch on it,” a CJ official said. U.S.-based drug maker Pfizer holds two patents f...

The European economy is struggling to contain its deepening crisis at the moment but it will show progress starting next month, Karel De Gucht, the European Union’s trade commissioner, said Thursday in Seoul. Speaking to journalists at a forum in Seoul, he pinned his hopes on the European Commission’s plans to recapitalize banks in the world’s largest economic bloc via public and private coopera...

Australian court hands another patent victory to Apple Inc. Samsung Electronics said Thursday that it will proceed with immediate legal options after an Australian court slapped a temporary ban on its Galaxy Tab 10.1, handing another victory to its rival Apple in their global patent war. “We express our regrets on the court’s decision and we will consider taking forward all possible actions, in...

Adding up to the harsh local conditions, isMedia was confronted with companies that illegally copied their products, followed by a fall in sales after losing price competitiveness. But the CEO gradually coped with a worsening situation after receiving 500 million won ($426,000) in aid from Korea Technology Credit Guarantee Fund in 2007. “The aid provided us a cornerstone for a restart. But most...

U.S. giant automaker sees no industry convergence on energy source used to power vehicles DETROIT ― There will not be a predominant low-emission technology in the automotive industry, a senior General Motors official said Wednesday, emphasizing the importance of developing more than one alternative energy source. “Will there be a convergence? Probably not for the next 15 years. I don’t know if ...

The world needs firm political leadership and robust governance to resolve the ongoing economic calamity and maintain sustainable growth, said SaKong Il, chairman of the Korea International Trade Association. Accompanying President Lee Myung-bak for his five-day state visit to the U.S., SaKong gave a lecture at Harvard University on Thursday on the global economy, its absence of leadership and t...

NEW YORK (AP) _ BlackBerry users across the world were exasperated Wednesday as an outage of email, messaging and Internet services on the phones spread to the U.S. and Canada and stretched into the third day for Europe, Asia, Latin America and Africa. It was the biggest outage in years for BlackBerry users, and strained their relationship with an already tarnished brand. It came on the eve of t...

The government proposed on Wednesday tax cuts worth up to 4.2 million won ($3,600) for purchasers of electric vehicles, as part of its bid for next-generation transportation that is convenient, affordable and energy-efficient. Starting next year, all electric car buyers will receive a 5-percent reduction in the special consumption tax, which also covers the education tax, a 7-percent cut in acqu...

International expansion for SMEs emerges as new engine of shared growth Shared growth between large companies and small- and medium-sized enterprises is one of the current administration’s main economic policies. Many of the country’s largest businesses have taken up the cause and now operate a number of schemes to help smaller companies grow. While many of the efforts have been limited to the...