Most Popular
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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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New celebrity-endorsed therapy for face contouring requires only a pair of rubber bands
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Rapper jailed after public street fight with another rapper
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[KH Explains] No more 'Michael' at Kakao Games
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Woman gets suspended term for injuring boyfriend with knife
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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Samsung chief bolsters ties with Germany’s Zeiss
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KT launches new mobile plans for foreign residents
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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
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LS Cable wins order for submarine cables in Taiwan
LS Cable & System Ltd., South Korea's leading wire and cable maker, said Monday it has won a contract with a German wind power firm to export subsea cables to a wind farm in Taiwan. LS Cable & System`s main office in Anyang, just south of Seoul (Yonhap)The contract is for the supply of 170 kilometers of high-voltage underwater cables for the offshore wind farm named Yunlin, located off the shore of Yunlin County in Taiwan. The farm is built by the YunNeng Wind Power Co., part of the wpd group, o
Jan. 7, 2019
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Samsung logs explosive growth over 50 years
Samsung Electronics Co. has posted explosive growth since its inception 50 years ago to emerge as a global tech behemoth, a report showed Monday.Samsung, which marks its 50th anniversary Sunday, chalked up a record 161.9 trillion won ($144 billion) in sales in 2017, with last year's figure estimated to exceed it, according to the report by the Korea CXO Institute, a corporate tracker. (Yonhap)The 2017 top line is a whopping 4.37 million times its sales recorded in the first year of its business.
Jan. 7, 2019
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[On the Bar] Cryptocurrency and ‘proper’ regulations for ICO
On the Bar is a regular column written by attorneys at Yoon & Yang LLC on various laws and regulations that affect running a business in Korea. -- Ed.Initial coin offering refers to the fundraising activities for entrepreneurial purposes by issuing the cryptocurrencies and/or tokens based on the blockchain technology. In other words, an ICO has a similar function with an initial public offering in the crypto world. Ever since the ICO in 2013, in which Mastercoin raised 5,000 Bitcoin, equivalent
Jan. 6, 2019
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[Photo News] LG's robotic vacuum meets pop art
(LG Electronics)LG Electronics’ premium robotic vacuum Cordzero R9 ThinQ, designed by artist Kenny Scharf, is showcased. The appliances decorated with pop-art graphics will be displayed at Scharf’s solo exhibition “Super Pop Universe” at Lotte Museum of Art in Seoul until March 3. (khnews@heraldcorp.com)
Jan. 6, 2019
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Korea regains top spot in shipbuilding, but challenges remain in offshore drilling
South Korean shipbuilders regained the top spot in the global market share of shipbuilding orders last year, beating their Chinese counterparts for the first time in seven years due mainly to a surge in demand for liquefied natural gas carriers. The industry, which has just turned a corner, still faces challenges in offshore drilling. According to London-based offshore and energy tracker Clarkson Research, global orders of Korean shipbuilders stood at 12.6 million compensated gross tonnage last
Jan. 6, 2019
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Celltrion to directly sell Remsima SC, secure own direct global distribution network
South Korean biosimilar firm Celltrion will establish a direct sales network for its drugs worldwide, and specifically Remsima SC -- a subcutaneous version of Remsima -- in an effort to secure price competitiveness and lead the global biosimilar market, its chief said in a New Year’s press conference last week.The firm is also working toward opening a joint company in China within the first half of the year as part of the plan, said Celltrion’s founder and Chairman Seo Jung-jin. Apart from strat
Jan. 6, 2019
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Number of new convenience stores in Korea drops in 2018
The number of new convenience stores in South Korea moved down in 2018 from a year earlier, industry data showed Sunday, due mainly to an increase in labor costs and the market's saturation.According to industry data, new CU branches, operated by BGF Retail Co., posted a net increase of 666 last year, falling sharply from the on-year rise of 1,646 posted in 2017. The figure is based on the number of new shops minus those shut down permanently. (Yonhap)GS25, the country's No. 2 convenience store
Jan. 6, 2019
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KAI's bid to export Surion chopper to Philippines apparently fails
Korea Aerospace Industries, South Korea's sole aircraft manufacturer, has apparently failed in its bid to export its Surion choppers to the Philippines, an official at Seoul's arms procurement agency said Saturday.Late last year, the Manila government informed the South Korean embassy in the Philippines that it had opted to purchase the US-made UH-60 Black Hawk helicopter, the official said on condition of anonymity. Surion choppers (Yonhap)The apparent failure came after a MUH-1 Marineon -- the
Jan. 5, 2019
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Coupang opens Apple brand store
South Korean e-commerce company Coupang said Friday that it had become an authorized online reseller of Apple products. Apple products such as the iPad Pro, new MacBook models and the Apple Watch Series 4, can be now found in Coupang’s Apple brand store where customers can use Coupang’s One-Touch Payment and receive rapid delivery via Coupang’s RocketDelivery service from January. Coupang is known for its extensive customer reach and record for maintaining the industry’s best customer service. A
Jan. 4, 2019
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Air Busan kicks off first Busan-Singapore route
South Korean low-cost carrier Air Busan said Friday that it will operate a flight route connecting Busan and Singapore until Jan. 29. It is the first attempt for a budget carrier to operate the Busan-Singapore route. Air Busan said the flights were scheduled for every Tuesday and Friday, departing Gimhae International Airport at 6:15 p.m and arriving in Singapore at 11:15 p.m. Returning flights will leave Singapore at 12:15 a.m. and arrive here at 7:20 a.m. on the following day.The temporary fli
Jan. 4, 2019
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NXC CEO confirms Nexon sale rumor
NXC CEO Kim Jung-ju on Friday acknowledged widespread industry speculation that Nexon, South Korea’s biggest game developer and a subsidiary of NXC, is up for sale.“I am contemplating various ways to back up Nexon in becoming a more globally competitive firm,” Kim said in a statement.He also said that he would “jump into new challenges, without growing complacent,” indirectly admitting to the disposal plan.Kim Jung-ju (NXC)A day earlier, local media was abuzz with reports of Kim’s plans to put o
Jan. 4, 2019
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Celltrion's biosimilar products expanding presence in Europe
Truxima, Remsima and Herzuma -- Korean biosimilars for the treatment of different cancers and autoimmune disease -- are setting their own records in European market share, according to Celltrion Healthcare, the marketing and distribution arm of South Korean biosimilar maker Celltrion.Standing out in terms of market expansion speed has been Truxima, the firm’s Rituxan biosimilar used to treat blood cancer, which launched in Europe in 2017 and recorded 35 percent market share in the third quarter
Jan. 4, 2019
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Samsung Electronics opens fine dust research institute
Samsung Electronics said Friday that it has opened a research institute dedicated to fine dust issues, seeking to resolve related social problems through research and development.The institute was established within Samsung Advanced Institute of Technology, with SAIT Deputy President Hwang Sung-woo named as its director. (Yonhap)“Based on SAIT’s technology and infrastructure, the institute will develop high precision subminiature sensors to detect fine dust particles. It will also work on new te
Jan. 4, 2019
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[Weekender] A new year dreaming of abundance
It cannot be explained scientifically in today’s hypermodern society. But for hundreds of years, Koreans have pinned high hopes on the new year by reinterpreting the symbolic significance of each of the 12 zodiac animals. And this year, Koreans celebrate the Year of the Pig, which symbolizes abundance, luck and fecundity. According to Chinese astrology, the pig is the 12th animal in the 12-year zodiac cycle, and it is a good year to make money and build one’s fortune -- just like the plump image
Jan. 3, 2019
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Korea to toughen rules on AI, chip technology leaks
The South Korean government vowed Thursday to toughen regulations against leaks of the nation’s key technologies, including artificial intelligence, chips and panels, amid growing concerns that Korea may lose industrial competitiveness to rivals without the proper protection of its core technologies.During a Thursday meeting presided by Prime Minister Lee Nak-yon, the government released a set of measures to prevent leaks of the nations’ industrial technologies. (Yonhap)The key aspect of the me
Jan. 3, 2019
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Industry restless upon reports of Nexon being up for sale
Shock waves rocked the gaming industry and local market on Thursday upon news reports that nearly half of South Korea’s biggest game company, Nexon, is up for sale.Kim Jung-ju, founder and biggest stakeholder in Nexon’s holding company, NXC, has begun the process of selling the estimated 10 trillion won ($8.9 billion) in shares he and his wife own, the Korea Economic Daily reported. Kim has appointed Deutsche Bank and Morgan Stanley to jointly supervise the sales, the report stated, adding the n
Jan. 3, 2019
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Top groups' New Year's speeches focus on 'customer, growth, global'
South Korea's 10 largest business groups have stressed such buzzwords as "customer, growth and global" in their New Year's speeches, a corporate tracker said Thursday.The most frequently used word in their New Year's speeches was customer (58 times), followed by growth (41 times) and global (35 times), according to CEO Score. (Yonhap)Other top 10 keywords include value (30 times), market (29 times), competition (28 times), novelty (27 times) and innovation (25 times).The three most often used ke
Jan. 3, 2019
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Korean businesses vow to face 2019 with toughness, innovation
Putting a tough year behind them, a year full of accusations of unfair business practices and shortcomings in performance, South Korea’s leading business groups are vowing stringent measures to overcome the challenges that lie ahead in 2019. They say they will make ceaseless efforts to achieve innovation, hopefully on the back of a more favorable regulatory environment.The chiefs of major companies released their New Year’s speeches and corporate messages on the first business day of 2019, messa
Jan. 2, 2019