Most Popular
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Blinken calls on China to press N. Korea to end its 'dangerous' behavior
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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[Weekender] How DDP emerged as an icon of Seoul
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Doctor group's incoming head renews call for govt. to scrap medical school quota hike for dialogue
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[KH Explains] No more 'Michael' at Kakao Games
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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Convenience store food to be available for delivery: BGF Retail
Instant and prepared foods such as dosirak (boxed lunches), gimbab (seaweed and rice rolls) and sandwiches will soon be available for delivery from South Korea’s major convenience store chain, according to BGF Retail, which operates the CU chain. The company said Thursday that it has joined hands with Delivery Hero Korea, an operator of the popular delivery app service Yogiyo, to offer nationwide delivery services.The two signed a memorandum of understanding, agreeing to work together to expand
Jan. 10, 2019
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LG Chem to invest W1.2tr in battery plants in Nanjing
LG Chem plans to make an investment of 1.2 trillion won ($1.07 billion) to expand its battery plants in Nanjing, China by 2020 to respond to the growing demand for electric mobility, according to the firm on Thursday. Under the contract, the Korean battery maker is slated to make an investment of 600 billion won for cylindrical battery cells mainly used for digital devices and another 600 billion won for pouch battery cells used for electric cars. LG Chem’s battery plant in Nanjing, China (LG Ch
Jan. 10, 2019
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SsangYong aims to achieve turnaround in 2019 on SUV sales
SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., is targeting a turnaround this year by promoting its sport-utility vehicles (SUVs). (Yonhap)In a media test-drive event held in Chuncheon, 85 kilometers east of Seoul, SsangYong Motor Chief Executive Choi Johng-sik said the carmaker will focus on achieving a 14 percent on-year jump in sales this year. "We are aiming to sell 163,000 vehicles this year and post a (net) profit," the top executive told reporters
Jan. 9, 2019
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LG Electronics sees 80% drop in Q4 profit
LG Electronics has reported an earnings shock for the fourth quarter, with an 80 percent on-year drop in operating profit for the quarter and a nearly 90 percent drop from the previous quarter, mainly weighed down by the tech firm’s lackluster smartphone and premium TV sales. The disappointing fourth-quarter performance in preliminary earnings announced late Tuesday also overshadowed the company’s yearly operating profit of 2.73 trillion won ($2.43 billion), the highest in 10 years. Total reven
Jan. 9, 2019
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No more needles -- Hugel patents patch-type BTX in Korea
Hugel, a South Korean botulinum toxin manufacturer, has completed the patent registration for its technology to develop patch-type BTX here, taking an innovative approach for an alternative to the conventional injection-type BTX.The biopharmaceutical firm announced Wednesday that it has secured and patented the technology to develop adhesive BTX patches with micro-needles coated with botulinum toxin. Although they may prickle, the company says they won’t hurt as much as a BTX injection. Stock i
Jan. 9, 2019
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Handok, Genexine secure majority stake in US biotech company
Korean pharma companies Handok and Genexine became joint majority stakeholders in US biopharmaceutical group Rezolute through a 50-50 joint investment of 28 billion won ($24.9 million), Handok announced Tuesday.Handok and its subsidiary Genexine now together hold 54 percent of Rezolute. The deal will allow the Korean pharma firms to acquire information about the work Rezolute has undertaken in biopharmaceutical development, and may also serve as a bridge to the US market. (Yonhap)Rezolute, estab
Jan. 9, 2019
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Trade minister to leave for UAE to support bids for Barakah plant
South Korean Trade Minister Sung Yun-mo is slated to leave for the United Arab Emirates on Saturday to discuss further partnerships with his counterparts in the energy sector as a follow-up to the summit in March of last year. The minister is also slated to express the government’s strong willingness to support the maintenance of the Barakah nuclear power plant should a Korean bidder win, ministry officials said Wednesday.During his stay, the minister, accompanied by CEOs of the Korea Hydro & Nu
Jan. 9, 2019
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Samsung denied full exemption from tax bill through disputed patent-licensing deal
Samsung Electronics must pay 1.5 billion won ($1.34 million) in corporate tax, according to South Korea’s top court, which decided that the company’s patent-licensing deal with an Ireland-based conduit company was a tax-dodging attempt to exploit the special exemption clause in the Korea-Ireland tax treaty.The Supreme Court on Wednesday ruled against plaintiff Samsung Electronics, ending the five-year litigation filed by the tech giant in 2013 challenging tax authorities’ decision to hold it res
Jan. 9, 2019
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[CES 2019] Purifier specialist Coway introduces future technology
During the Consumer Electronics Show 2019, household appliance company Coway showcased its cutting-edge water and air purifier solutions and electronic toilet seat as part of its new technologies.Coway’s CIROO 2.0 filter system for direct water purification was awarded the CES 2019 Innovation Award in the home appliances category. Short for Coway Intensive Reverse Osmosis, the CIROO filter was recognized for enabling unlimited use of room-temperature and cold water. Its replaceable water channel
Jan. 9, 2019
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The Face Shop acquires Avon’s Guangzhou factory for W79b
LG Household & Healthcare’s cosmetics brand The Face Shop has acquired a 100 percent stake in global beauty brand Avon’s factory in Guangzhou, China, for 79.3 billion won ($70 million), the company said Wednesday. (Yonhap)The company said that through the buyout, it will maximize The Face Shop’s manufacturing capacity and strengthen its presence in China and global markets.The firm said the buyout process will be completed by February, following the Chinese government’s approval.Built on 74,500
Jan. 9, 2019
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KT, Chungbuk National University, Lotte, SKT top user satisfaction: NCSI
Customer satisfaction for companies and universities in South Korea reached an all-time high in 2018 despite challenging economic situations, a recent survey by the Korea Productivity Center showed.The National Customer Satisfaction Index for 2018 stood at 76.5 points, up 0.9 point, or 1.2 percent, from the previous year, according to the KPC’s survey of 88,209 respondents who have used the products and services of 325 companies and universities in 76 respective sectors. This yearly figure was t
Jan. 8, 2019
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LG Hausys wins innovation award at CES 2019
LG Hausys, a housing material manufacturer, said Tuesday that its Hidden Display Handle won an innovation award at the Consumer Electronics Show 2019, in a first for the housing material industry.The Hidden Display Handle features internet of things technology. Its built-in display shows information on the weather, fine dust concentration levels, as well as air quality. The design has a graphical user interface that hides the liquid-crystal display. LG Hausys’ Hidden Display Handle (LG Hausys)T
Jan. 8, 2019
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Hanjin Heavy's overseas affiliate files for rehabilitation scheme
Hanjin Heavy Industries & Construction Co., a midsized shipyard here, said Tuesday that its affiliate in the company's Philippine shipyard has filed for a rehabilitation scheme.In a regulatory filing, the shipbuilder said HHIC-Phil Inc., which operates the Subic yard, has filed for an insolvency scheme in the archipelago country. (Yonhap)Hanjin Heavy and its affiliate have been suffering from a drop in new orders amid the protracted slump in the global shipbuilding sector.In 2004, Hanjin Heavy b
Jan. 8, 2019
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SDI joins transport innovation with batteries for Harley-Davidson
Samsung SDI’s battery packs will be used for new electric motorcycles of the US motorcycle manufacturer Harley-Davidson, according to the Korean battery maker on Tuesday. The US firm’s first electric motorcycle, called Livewire, will feature Samsung’s batteries and will be able to travel 180 kilometers on a single charge. This is twice as long as the firm’s prototype electric motorcycle, Project Livewire, which ran 97 kilometers on a single charge in 2014. Livewire will be able to go from zero t
Jan. 8, 2019
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[CES 2019] LG Electronics debuts rollable OLED TV at CES
South Korean home appliance maker LG Electronics Inc. on Monday unveiled the world's first rollable OLED television, which can appear and disappear from a base unit with a click of a remote control. The LG Signature OLED TV R model, which measures 65 inches and features a 4K resolution display, was showcased ahead of the Consumer Electronics Show in Las Vegas, which runs from Tuesday to Friday.(Yonhap)The company said consumers can also set the TV to show a "line"view, which retracts the screen
Jan. 8, 2019
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SK Innovation chief shifts focus to global battery biz
The chief of South Korea’s leading energy firm SK Innovation Kim Jun is currently visiting the US as part of the company’s shift in focus from the traditional refinery business to the battery and material sectors, the company said Monday. SK Innovation President and CEO Kim first landed in Georgia, where he inspected a site for a battery factory. Last year, the company announced it would be building the battery plant with some $1 billion, which will be the largest production plant solely used f
Jan. 7, 2019
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Will coalition of SK Telecom, media giants be a match for Netflix?
With South Korea’s biggest mobile carrier pledging to integrate its streaming service with that of the country’s major broadcasters, focus is on how much the collaboration will affect the growing competition between domestic and global streaming service companies. On Jan. 3, SK Telecom and Korea’s three territorial broadcasters agreed to establish a new entity designed to manage their over-the-top video services. Their new OTT platform is expected to be available in the first half of this year
Jan. 7, 2019
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[Monitor] More manufacturing businesses post losses in 2017
The number of South Korean manufacturing companies that posted operating losses spiked in 2017, data from Statistics Korea showed. According to the agency’s research on the corporate activities of major manufacturing businesses here, those who saw their yearly net profit ratios dip below zero percent rose 4.2 percentage points to 22.8 percent in 2017 from the previous year’s 18.6 percent. A net profit ratio refers to the ratio of net profits to net sales. A net profit ratio below zero percent tr
Jan. 7, 2019
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Yuhan, Gilead sign deal to develop new liver drug
South Korea’s healthcare company Yuhan Corporation signed a deal worth over 878 billion won ($785 million) with US’ Gilead Sciences to jointly develop potential new drugs for the treatment of patients with advanced fibrosis due to nonalcoholic fatty liver disease, the company said Monday.Nonalcoholic steatohepatitis (NASH) is a chronic and progressive liver disease characterized by fat accumulation and inflammation in the liver, which can lead to scarring, or fibrosis, that impairs liver functio
Jan. 7, 2019
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Hanwha Q Cells ranks top in German solar module market
Hanwha Q Cells, the solar cell manufacturing arm of Hanwha Group, took up the largest share in the German solar module market last year, according to German research firm EuPD Research. Hanwha’s share in the market stood at 11.5 percent, up 4.3 percent from 2017. It is followed by two German firms, Heckert Solar and IBC Solar, which had 8.2 percent and 7 percent share each. Hanwha Q CellIts major products in the module area are Q.HOME, a household energy storage solution that comprises modules,
Jan. 7, 2019