Employees pose at the exhibition booth for Samsung Electronics at the CES trade show that kicks off Thursday in Las Vegas. The South Korean tech giant plans to unveil futuristic technologies, especially its upgraded smart home platform SmartThings that boasts heightened connectivity among devices, even among different brands.

An SK Group official introduces future traffic solutions equipped with emissions-reducing technologies to visitors at the conglomerate’s exhibition booth at the CES trade show in Las Vegas, during media events held Tuesday. Eight SK companies, along with their 10 global partners, are showcasing their eco-friendly technologies and products, from advanced batteries to urban air mobility solutions a...

Celltrion Healthcare, the marketing unit of Korea's drug developer Celltrion, said on Wednesday that the company inked a partnership with Hikma Pharmaceuticals to launch its biosimilar version of metastatic colorectal cancer treatment Avastin in the Middle East and North Africa region. “The pharmaceutical market, especially the need for biomedicine, is continuously growing in the MENA region. Th...

South Korean drug maker Celltrion said Tuesday its antibody biosimilar Remsima has received authorization from 100 countries worldwide, a feat achieved almost 10 years after its getting approval at home. Remsima is a TNF-α inhibiting antibody biosimilar used to treat autoimmune diseases such as rheumatoid arthritis, ulcerative colitis, and Crohn’s disease. The drug got its first approval from Ko...

Revision aims to more than double tax cuts on facility investments by Samsung Electronics, SK hynix, world's top two memory chipmakers

South Korea’s antitrust regulator said Tuesday it is imposing a fine of over 2.85 billion won ($2.23 million) on US electric vehicle maker Tesla and Tesla Korea for deceiving local consumers with false and exaggerated advertisements. The penalty on Tesla is assessed for advertising its battery performance on its official website here dating to August 2019 for exaggerating that its electric vehic...

A giant banner promoting South Korea’s bid for the 2030 World Expo is hung on the exhibition floor for the 2023 CES in Las Vegas on Monday. South Korea’s refinery-to-battery company SK Innovation, along with other SK companies, said it will promote the southern port city of Busan’s bid to host the World Expo during the world’s largest tech trade show that kicks off Thursday.

Foreign direct investment pledges to South Korea hit an all-time high last year, surpassing $30 billion for the first time, data showed Tuesday. Foreigners pledged to invest $30.45 billion here last year, up 3.2 percent from a year earlier, according to the data by the Ministry of Trade, Industry and Energy. The previous record high was $29.51 billion in 2021. The amount of investment that act...

LAS VEGAS-- LG Display Co., a major South Korean display maker, said Monday it will present its latest display technologies tailored to specific customer needs and environments at CES 2023, slated to open in Las Vegas later this week. The firm will set up a booth wholly dedicated to automotive display panels, and another booth for small and midsized foldable organic light-emitting diode panels a...

LAS VEGAS-- LG Electronics Inc. unveiled a vision for its TV business on Monday ahead of the opening of CES 2023, emphasizing connectivity and customization. The consumer electronics giant will dedicate itself to fulfilling the vision of Sync to You, Open to All, it said, based on its advanced organic light-emitting diode display technologies and webOS, its own smart TV operating system. At the...

Rainbow Robotics on Tuesday announced that it will sell stock to raise 59 billion won The proceeds from the stock sale will be used mainly to finance its operations. According to a regulatory filing, the company will issue some 1.94 million common shares at a price of 30,400 won per share. The stock will be sold to the investors that the firm designated. (Yonhap)

Business chiefs say cloud of uncertainty hanging over Korean economy heightens need for innovation

The new CEO of Hana Bank, one of South Korea's top four commercial banks, vowed that the bank will become a leading lender that is stronger in times of crisis. To reach this goal, new CEO Lee Seung-lyul, 60, stressed that he will “enable honest communication and build solid trust within the organization” during an inauguration ceremony held at Hana Bank’s headquarters in Seoul on Monday. Lee al...

A merged entity of Posco Group’s trading arm Posco International and power generation unit Posco Energy has been launched with the former Posco President Jeong Tak as its new CEO, Posco International announced Monday. With the latest merger, the country’s largest trading company has scaled up, with annual sales surpassing 40 trillion won ($31 billion) and its annual operating profit reaching aro...

Hyundai Oilbank, one of South Korea’s leading refiners, said Monday that it handed out 1,000 percent of base salaries as bonuses to its staffers. The company declined to disclose the specific amount of the salaries given. In 2021, its employees received an average of 121 million won ($94,800) per person including bonuses at a 600 percent rate. The refiner’s lump-sum bonuses came in line with th...