Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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Seoul to deploy more military doctors to fill med prof void
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Liberal bloc moves to rewrite student rights ordinance
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USFDA approves SK Biopharmaceuticals’ new anti-epileptic drug
A new South Korean anti-epileptic drug will be available in the US from as early as April. The US’ Food and Drug Administration has approved SK Biopharmaceuticals’ anti-epileptic drug XCOPRI (Cenobamate), officials said Friday. The product will be available in the second quarter of 2020 after review by the US Drug Enforcement Administration.The marketing and sales process will be overseen by SK Life Science, the US subsidiary of SK BIopharmaceuticals based in Paramus, New Jersey. XCO
Nov. 22, 2019
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Jeju Air opens routes to Phu Quoc, Bohol
Jeju Air Co., South Korea's biggest low-cost carrier, said Friday it has opened routes to Vietnam's Phu Quoc and the Philippines' Bohol amid lower demand for travel to Japan.The budget carrier began to serve the routes from Incheon International Airport to the two Asian cities on Thursday, the company said in a statement.Local airlines have suspended or reduced flights on routes to some less-popular Japanese cities since August amid a trade row between South Korea and Japan.To protest Japan's cu
Nov. 22, 2019
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Local PEF chosen as preferred bidder to buy SKC Kolon PI
A local private equity fund was selected the preferred bidder on Thursday to acquire a controlling stake in SKC Kolon PI Inc., a joint venture between South Korea's SKC Co. and Kolon Industries Inc. that makes polyimide (PI) film. SKC and Kolon Industries said they've selected Glenwood PE as the preferred bidder to acquire their 54.06 percent stake in SKC Kolon PI. SKC and Kolon Industries each hold a 27.03 percent stake in the PI maker. Industry insiders speculate that the deal is worth ar
Nov. 21, 2019
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S. Korea ready to support Asia's second-largest theme park: minister
South Korea's finance minister said Thursday that the government will spare no effort for the completion of a multi-billion-dollar project to build Asia's second-largest theme park in the country.South Korean retail giant Shinsegae is set to break ground for the 4.57 trillion-won ($3.8 billion) project to build a theme park in Hwaseong, about 40 kilometers southwest of Seoul, in 2021, with an initial opening in 2026 and the full opening in 2031.The project on a 4.2-square-kilometer plot of land
Nov. 21, 2019
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[Herald Interview] Aionco Korea aims to become Korea’s Amazon for K-beauty
Aionco Korea, a South Korean business-to-business platform of K-beauty products for global e-commerce, was established in 2015. Within four years, the Korean platform that connects local cosmetics suppliers with foreign buyers all over the world has garnered over 500 vendors representing markets in 54 countries. Some of them include China’s Alibaba and individual sellers on marketplaces such as Lazada and Q10. “Our company allows retail buyers abroad to have an easy access to a
Nov. 21, 2019
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CJ Healthcare’s K-CAB Tab makes inroads into Thailand
CJ Healthcare said Thursday it will export its original gastroesophageal reflux disease drug to Thailand’s Pond’s Chemical. K-CAB Tab (tegoprazan) is listed as the 30th new drug developed by a Korean company. It acquired commercial approval from South Korea’s Ministry of Food and Drug Safety in 2018 and was launched here in March 2019. Since then, the drug has raked in 18.7 billion won ($15.8 million) in sales. K-CAB Tab is already being exported to 17 countries including China
Nov. 21, 2019
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LG and Kakao join hands to promote blockchain
LG’s IT solutions affiliate LG CNS and Kakao’s blockchain subsidiary Ground X joined hands with a view to expanding the use of blockchain and applying it to diverse business areas, the firms said Thursday.The two companies agreed to a strategic partnership to build mutually compatible infrastructure. Ha Tae-Seok, the leader of LG CNS’ future strategic business division, and Kakao Ground X CEO Han Jae-seon attended a signing ceremony at the LG CNS headquarters within LG Science
Nov. 21, 2019
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GS E&C introduces big data-based smart home system
GS E&C introduces big data-based smart home systemGS Engineering & Construction Corp., a major builder in South Korea, on Thursday introduced a big data-based smart home system that can control the living environments of people's residences with deep learning technologies. GS E&C said its Xi AI platform is the first big data-based smart home solution developed by a local builder. The system can analyze and collect various home data, ranging from fine dust controls to elevator movemen
Nov. 21, 2019
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Samsung unveils voice-controlled AI speaker
Samsung Electronics Co. on Thursday introduced a new voice-controlled artificial intelligence speaker compatible with a comprehensive range of home appliances regardless of their brand or ability to connect to the internet.The Korean tech giant showcased the Galaxy Home Mini during Samsung Bixby Developer Day at Sejong University in Seoul. Bixby is the name of Samsung's voice-powered digital assistant. "Galaxy Home Mini is equipped with four infrared remote transmitters and receivers to cov
Nov. 21, 2019
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LG Uplus partners with Nreal to launch AR glasses in early 2020
LG Uplus Corp. said Thursday it has signed an exclusive deal with mixed reality display developer Nreal to launch augmented reality glasses in South Korea in early 2020.The Korean telecom operator unveiled Nreal Light AR glasses by the Beijing-based startup to show off its AR applications on LG Electronics Inc.'s 5G smartphone V50S ThinQ.AR overlays digital content on top of the real world and is primarily experienced via a wearable glass device, a head-mounted display or through smartphone appl
Nov. 21, 2019
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S. Korea's exports down 9.6 % in first 20 days of November
South Korea's exports fell 9.6 percent in the first 20 days of November mainly due to decreased shipments of semiconductors and ships, customs data showed Thursday.The country's exports stood at $28.2 billion in the Nov. 1-20 period, compared with $31.2 billion in the same period last year, according to the Korea Customs Service.The average daily exports -- which reflect working days -- also declined 9.6 percent on-year to $1.82 billion.By product, exports of semiconductors and ships fell 23.6 p
Nov. 21, 2019
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S. Korea to scale down operation of coal plants over winter
South Korea's industry ministry said Thursday it will scale down the operations of local coal plants to 80 percent of their capacity starting in December in a broader effort to deal with a spike in fine dust here.The ceiling will come into effect from December to February 2020, according to the Ministry of Trade, Industry and Energy. It marks the first time for South Korea to limit the operation of coal power plants over the winter. The move came as South Korea has been making efforts to reduce
Nov. 21, 2019
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Hotel Shilla launches global brand for overseas operations
Hotel Shilla, a leading hospitality and duty-free operator in South Korea, unveiled the brand identity of its global operations -- Shilla Monogram -- on Wednesday, prior to the February opening of its first overseas hotel in Vietnam’s resort city of Da Nang.To minimize operational risk in the new market, Hotel Shilla will operate the new Da Nang hotel of Shilla Monogram by forging a contract with a third party. It will consist of 300 rooms in a nine-story building. According to the company
Nov. 20, 2019
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Ediya Coffee opens 3,000th store in Daejeon
Ediya Coffee said it has opened its 3,000th store in Daejeon on Wednesday, setting a new record as a local coffee franchise in the country. Ediya opened its first store in Seoul 18 years ago.According to the coffee franchiser, it has opened at least 300 stores each year within recent six years. Besides Ediya, only bakery franchise Paris Baguette from SPC Group runs over 3,000 stores in the country. To strengthen its competitiveness amid business expansion, Ediya said it has appointed two in
Nov. 20, 2019
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Samsung Bioepis gears up for approval of Avastin biosimilar in US
The clock has started ticking for the approval process of Samsung Bioepis’ fifth biosimilar in the US. The company said Wednesday that the US Food and Drug Administration has agreed to review the license application it submitted in September for SB8, a biosimilar candidate referencing Avastin (bevacizumab). Avastin is a blockbuster biologics drug of Roche that prevents tumor growth by blocking blood supply. It inhibits a protein called vascular endothelial growth factor that creates
Nov. 20, 2019
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FTC reviews legal actions against Mirae Asset owner family for alleged profiteering
South Korea’s antitrust watchdog is likely to press a charge against Mirae Asset Financial Group over allegations that the controlling family of the financial empire has been illegally benefitted from suspicious intra-trading deals, the authorities confirmed on Wednesday. Ending a two-year investigation, the Fair Trade Commission said it has recently sent a review report to the group, stating that Chairman Park Hyeon-joo and his family made financial gains through Mirae Asset Consulting, a
Nov. 20, 2019
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S. Korea seeks to expand flights on non-Japan routes
South Korea's transport ministry said Wednesday it is seeking to increase the number of flights on non-Japanese routes as part of efforts to help airlines suffering lower travel demand to Japan. The government is in talks with the aviation authorities in Singapore, Indonesia and Brunei to supply more flights to the countries, the Ministry of Land, Infrastructure and Transport said in a statement. It plans to extend the talks with the aviation authorities in Central Asia next year in order t
Nov. 20, 2019
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[News Focus] Trade disputes between Korea and Japan show no sign of abating
Escalating trade tension between South Korea and Japan shows no sign of abating as two rounds of bilateral talks to resolve disputes triggered by Japan’s export curbs could not reach common ground. On Tuesday, the two neighboring nations held the second round of talks at the World Trade Organization in Geneva after failing to reach a consensus at the first consultations on Oct. 11. “During two rounds of six-hour intensive consultations, the two nations became more aware of each other
Nov. 20, 2019
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Yuhan targets market for female health probiotics
With South Korea’s market for health supplements growing, demand for female health-oriented probiotics is also expected to rise. Yuhan Care, a health supplement and beauty spinoff of Yuhan Corp., held a press event Tuesday to introduce the market’s outlook and the technology behind its newly launched UREX probiotics product, Inner Flora. The man behind the development of probiotics was invited to speak on the matter.At the event, Gregor Reid, the first scientist to discover the benef
Nov. 19, 2019
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Major entertainment firms tipped to log better earnings in 2020
South Korea's major entertainment agencies are expected to see improved earnings next year on growing album sales and global activities of their idol groups, analysts said Tuesday. SM Entertainment and JYP Entertainment, the two largest agencies by market capitalization, reported better-than-expected third-quarter earnings, and they are poised to deliver further improvement in their bottom lines, according to them. SM Entertainment's July-September sales rose to 173.5 billion won ($148.5 mi
Nov. 19, 2019