Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Seoul alerts overseas missions to NK terror threats
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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Questions raised over fair promotion of RM, NewJeans
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Korean bio firms acquire US biotech firm Argos Therapeutics
Korean bio companies SCM Life Science and Genexine have teamed up to acquire US-based Argos Therapeutics, the companies announced Wednesday. Argos Therapeutics, a cancer vaccine developer, is to be renamed CoImmune. It will continue as an independent entity in the US.Through the acquisition valued at 12.5 billion won ($11.1 million), SCM Life Science and Genexine now co-own Argos’ 1,860 square-meter stem cell drug manufacturing facility, human resources and intellectual property. SCM Life Scienc
Feb. 13, 2019
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Korean version of Orange Book makes generic drug data accessible
Information on generic drugs approved in South Korea, and their efficacy, will become easier to browse through the Korean version of the US’ Orange Book, the Ministry of Food and Drug safety said Wednesday.The Orange Book is an online list of approved generic drugs, with evaluation results to support their therapeutic equivalence to originals. It was first created in the US in October 1980. Japan followed suit with the JP-Orange Book in September 2002.The K-Orange Book can be found at http://ned
Feb. 13, 2019
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Hyundai, Kia revamp recruitment system
South Korean auto giant Hyundai Motor and its sister company Kia Motors will hire new talents year-round, ditching their conventional recruitment system. Starting this year, the companies will hire new employees by opening job vacancies all year round, the company said on Wednesday in a statement. The new system is seen as an attempt to make changes in its corporate culture, often criticized as hierarchical and monolithic. (Hyundai Motor)It is aimed at securing young talents capable of leading
Feb. 13, 2019
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Posco Daewoo acquires Ukraine grain export terminal
Posco Daewoo, the trading arm of steel giant Posco, has acquired a 75 percent stake in a grain export terminal held by a Ukrainian logistics firm as part of efforts to bolster its position as a global grain trader, the company said Wednesday.Posco Daewoo has signed a contract with Orexim Group, a logistics firm in Ukraine, entitling the Korean firm to operating rights over the terminal. Orexim will keep the rest of the shares, officials said, while declining to reveal the takeover price, citing
Feb. 13, 2019
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Fishing industry to be revamped with jobs, resources management
South Korea will aim to create some 40,000 new jobs in the fisheries industry and switch focus from production to resources management in a reform plan to be completed by 2030, the government said Wednesday.Finalized at an economy-related ministerial meeting, the plan introduces the notion of total allowable catch to better manage fishery resources in coastal waters. The goal is to recover the resources by 5.03 million tons. By 2022, the government will designate the categories of fish for TAC.
Feb. 13, 2019
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With collapsed negotiations, Naver union’s first-ever strike looms
The standoff between Naver and its unionized workers continues to escalate over the company’s working conditions and labor regulations, as the tech giant’s labor union has threatened to go on strike after its negotiations with the management fell apart despite some 15 attempts. Naver’s labor union has warned that it could take collective action if the management does not engage in “meaningful” dialogue. The union, launched in April last year, has said that it plans to take the first collective
Feb. 12, 2019
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Talk of Hanwha chief’s comeback draws mixed responses
Speculation has been circulating that the head of Hanwha Group might return to the management of the nation’s chemical-to-energy giant, as his suspended sentence ordered by the court is nearing its end. The 67-year-old tycoon has kept a low profile for the past seven years. In 2014, Hanwha Group Chairman Kim Seung-youn was sentenced to three years in jail, suspended for five years, for illegally diverting funds from healthy affiliates to weaker companies he owned. Kim’s sentence ends on Feb. 18,
Feb. 12, 2019
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[Photo News] BMW to sponsor Coach Park
Vietnam national soccer team head coach Park Hang-seo (right) and Kwon Oh-soo, chairman of Deutsch Motors, BMW’s local dealer, pose for a photo next to a BMW X4 vehicle at a ceremony in Seoul on Tuesday. Coach Park received the vehicle as part of a sponsorship by BMW. (Yonhap)
Feb. 12, 2019
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New KakaoTalk alert sounds include dog’s bark, ‘I love you’
KakaoTalk, the most popular mobile messenger app in Korea, on Tuesday added new alert sounds to its service, ranging from a dog’s bark to the sound of money jingling. The update is the first in five years. “We developed the idea based on users’ practice of using different wallpaper for chat groups for identification purposes,” an official from KakaoTalk said.Of the previously available alert sounds, only the six most representative ones remain, while 26 new sounds have been added. In a promotion
Feb. 12, 2019
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Balmuda introduces new air purifier, downplays Chinese copycats
Japanese premium home appliances company Balmuda’s CEO Gen Terao unveiled its new air purifier Balmuda The Pure in Seoul on Tuesday, highlighting the importance of the Korean market and downplaying what he called “copycats” from China. The Pure is a new addition to the firm’s 2013 AirEngine purifier lineup, which, alongside Balmuda The Toaster, has garnered positive responses in Korea. “We have no set date for Japan launch,” said Gen, emphasizing the importance of the Korean market to the compan
Feb. 12, 2019
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Starbucks Korea saves 7.5m straws per month with new lids
Starbucks Korea said Tuesday that it has saved up to 7.5 million straws per month after it adopted strawless lids for iced drinks at its local stores. The number is equivalent to about 50 percent of straws that had been used at some 1,100 stores nationwide per month. The Korean unit of the US coffee giant introduced a specially designed lid, which resembles a sippy cup, in November in an effort to reduce waste and protect the environment. Starbucks’ strawless lids (Starbucks Korea)As part of it
Feb. 12, 2019
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KITA to back startups advancing into Middle East
The Korea International Trade Association said on Tuesday it has signed an agreement with Dubai Future Foundation to set up a Korea Desk to help domestic startups better advance into the Middle East. The signing ceremony held in Dubai was attended by Kim Ki-hyun, chief of KITA’s United Arab Emirates office, Dubai Future Foundation CEO Khalfan Belhoul and key UAE government officials. Kim Ki-hyun(left), chief of KITA’s UAE regional office and Dubai Future Foundation CEO Khalfan BelhoulUnder the d
Feb. 12, 2019
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LG Uplus introduces IPTV service for seniors
LG Uplus Corp. introduced a new Internet Protocol television service Tuesday to target a growing number of elderly who want to stay active and healthy. LG Uplus, the nation's fourth-largest pay TV provider with 3.64 million subscribers, launched U+tv Bravo Life, which offers a wide range of content for viewers aged between 55 and 65. LG Uplus features 14,000 videos on demand and 150 free content covering health, travel, leisure and retirement plans, with easy to use function controls. (Yonhap)B
Feb. 12, 2019
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Samsung POWERbot ranked top robotic vacuum by Consumer Report
Samsung Electronics' Powerbot has been named the best robotic vacuum cleaner by Consumer Reports in a review of products purchased over the past 10 years.The evaluation, updated last Wednesday, placed Samsung's R7065 model first in terms of ratings among robotic vacuums checked. (Samsung)"In a category you might associate with Roomba -- and one that has seen an onslaught of noteworthy new entrants, including models from premium brands Dyson and Miele -- it's Samsung's Powerbots that steal the sh
Feb. 12, 2019
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Korea picks hydrogen industry as first point of deregulation
The hydrogen industry will be the first beneficiary of South Korea’s deregulation efforts, with the government allowing Hyundai Motor to build hydrogen-fueling stations at the National Assembly, in a symbolic move in the nation’s push toward the next-generation energy. Last month, the government announced its plan of producing 1.8 million units of hydrogen cars and installing 660 charging stations by 2030. This year, it aims to produce 4,000 hydrogen cars and 86 charging stations. There are curr
Feb. 11, 2019
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SK Group seeks to launch new mobile payment service
South Korea’s third-largest conglomerate SK Group is seeking to launch a new mobile payment service by integrating various platforms scattered across its subsidiaries into one, amid growing competition over the country’s e-commerce market. According to industry sources here Monday, SK Group has been planning to combine the conglomerate’s two mobile payment systems -- called “11Pay” and “T pay” -- to create a more advanced payment platform for consumers. SK Group’s telecommunications unit, SK Tel
Feb. 11, 2019
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IBK jubilant over ‘Extreme Job’ success
Industrial Bank of Korea now has a record-breaking film on its movie investment list, with “Extreme Job” having drawn over 12 million moviegoers as of Sunday.IBK invested some 800 million won ($711,000) in the movie, including indirect investment of 100 million won and 700 million won directly, accounting for about 12 percent of the total production cost of 6.5 billion won, according to industry sources. (CJ Entertainment)“Extreme Job” surpassed its breakeven point of 2 million viewers four days
Feb. 11, 2019
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Samsung Bioepis accelerates push to expand market share in China
Samsung Bioepis announced on Monday that it has sealed a licensing agreement with C-Bridge Capital, its second Chinese partner, to expand its biosimilar market share in mainland China. The Korean firm had earlier signed a similar partnership deal with 3Sbio. Under the new agreement, C-Bridge’s newly established biopharmaceutical company AffaMed Therapeutics will collaborate with the Samsung unit for the clinical development, regulatory registration and commercialization of its drug candidates in
Feb. 11, 2019
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S. Korea’s ramen exports top $400m
Exports of South Korean instant noodles ramen (called ramyeon here) topped $400 million last year for the first time, making a twofold growth in six years, data from Korea Trade Statistics Promotion Institute showed.Last year’s total ramen exports came in at $413 million, up 8.4 percent from a year ago. Industry insiders viewed that it was mainly driven by the popularity of spicy noodles in overseas markets including in the US and Southeast Asia. Ramen exports to the US and Japan saw around 20 p
Feb. 11, 2019
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Supreme Court orders reconsideration of FTC's $243m penalty ruling on Qualcomm
South Korea's Supreme Court has found that a 2009 penalty decision by the state antitrust watchdog against US Qualcomm Inc. was not completely lawful, sending the case back to a lower court for reconsideration, court officials said Monday. The Fair Trade Commission fined the global chipmaker 273.2 billion won ($243 million) for paying incentives to its Korean clients that buy more of its modem and radio frequency chips. (Yonhap)Qualcomm paid up to millions of dollars to Samsung Electronics Co.
Feb. 11, 2019