Most Popular
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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S. Korean children, teens grow taller, mature faster than before: study
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Army takes group action against Hybe for neglecting BTS
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Some junior doctors are returning: Health Ministry
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Ador CEO's request for exclusive right to terminate NewJeans' contract with Hybe refused in February
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Debate rages over ‘overly fatty’ samgyeopsal
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Naver will consider company benefits in deciding on selling Line shares: CEO
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Woman dangling from power lines rescued by residents holding blanket
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[Weekender] Korean psyche untangled: Musok
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More than half of Korean biopharma firms view R&D investments as assets
More than half of South Korea’s top biopharmaceutical companies calculate their research and development investments as assets, according to data released by a corporate tracker Wednesday, raising concerns that the accounting practice may be distorting firms’ net earnings.Korean corporate tracking firm CEO Score looked into the accounting practices of Korea’s top 50 biopharma companies with a market capitalization of more than 400 billion won ($375 million). Among them, 31 had disclosed their R&
March 14, 2018
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LG Electronics taps skeleton champion Yun Sung-bin as smartphone model
LG Electronics Inc. said Wednesday it signed an agreement with South Korean skeleton gold medalist Yun Sung-bin to promote its latest LG V30S ThinQ smartphone, an upgraded version of the V30 smartphone released last year. Under the project, the South Korean company said it will unveil a new advertisement on major social media where Yun will promote the smartphone on Thursday. The agreement marks the extension of the sponsorship contract signed between LG and Yun in 2015. South Korean skeleton g
March 14, 2018
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[Photo News] Samsung Wind-Free at MCE
Models introduce Wind-Free air conditioners from Samsung Electronics at the Mostra Convegno Expocomfort 2018, a biannual trade exhibition in Italy dedicated to residential and industrial installations and air and energy solutions. Samsung Electronics will be presenting products targeting the European air conditioner market at the show, which runs from Tuesday to Friday. (Samsung Electronics)
March 13, 2018
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Samsung, LG to hold shareholders meetings this month
Korea’s two largest electronics companies are set to hold shareholders meetings this month, with industry watchers keeping a close eye on Samsung’s plans to confirm its first-ever stock split.Samsung Electronics will hold a shareholders meeting on March 23 to discuss its 50-to-1 stock split, which was announced in January. “The company had received numerous requests for a stock split based on the view that a high share price was a hindrance to potential investors. The request increased in freque
March 13, 2018
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Kakao Taxi seeks monetization with addition of paid taxi-hailing options
Kakao Taxi, South Korea’s most widely used taxi-hailing mobile app, is introducing a “paid option” that lets users call up taxis faster or immediately by paying an extra fee on top of the ride fare. The move marks Kakao’s first attempt to monetize Kakao Taxi, which, despite amassing a large user base over the years, has yet to find a concrete business model for generating stable profits. Kakao Mobility, which operates all of Kakao’s mobility services including Kakao Taxi under the collective Kak
March 13, 2018
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KAIST seeks expanded state funding for science, tech leadership vision
South Korea’s top science and technology university KAIST has called on the South Korean government to expand its financial support for the institute, as it seeks to strengthen its research and training programs and help Korea remain competitive in the new age of technology-driven economies.KAIST on Monday unveiled its “2031 vision” road map, which includes an action plan to innovate its academic training, pave new research areas, encourage more tech-driven entrepreneurship and build a more glob
March 13, 2018
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LG opens first premium brand shop in Kuwait
LG Electronics has opened its first premium brand shop in Kuwait as part of efforts to push its top-tier products in the Middle East, the company said Tuesday.The two-story, 433-square-meter store opened Sunday (local time) at the Rozanah Mall in Kuwait. The store features a premium experience zone displaying products such as those from the LG Signature line.Visitors to the store can browse and test out products such as LG’s premium organic light-emitting diode TVs, washing machines and refriger
March 13, 2018
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Daewoo Electronics expands to Midwestern China with Dayou Group
Daewoo Electronics, a new subsidiary of South Korean midsize conglomerate Dayou Group, said Monday the company would enter new provinces in the Midwestern part of China with an aim to target the premium market there. It is the first overseas expansion for Daewoo Electronics since the firm was acquired by Dayou last month, using the group’s existing distribution network in China.Daewoo will provide its home appliances for large retailers in Sichuan, Hunan and Wuhan province, starting this year. T
March 12, 2018
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Outlook for global chip market turns rosier: sources
The global semiconductor market is expected to grow at a faster-than-expected click this year thanks to rising demand for DRAMs and other chips, industry sources said Monday.With concerns over an oversupply in the second half of this year waning, more market trackers have revised up their growth projections for the world chip market this year, putting shares of chipmakers on an upward curve.According to the sources, a recent report from the World Semiconductor Trade Statistics has forecast globa
March 12, 2018
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Market remains unexcited about latest premium phones
The South Korean smartphone market gave a tepid response to the release of the Samsung Galaxy S9 and S9+ smartphones, driving down expectation on the newest premium smartphones this year. According to the telecom industry, preorders of Galaxy S9 and S9+ devices made from Feb. 28 with subscriptions to one of three mobile carriers were estimated to near 180,000 units, reaching about 70 percent of the preorders of predecessors Galaxy S8 and S8+phones. Samsung is launching the S9 series more than a
March 11, 2018
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Posco, Samsung SDI win electric vehicle battery project in Chile
South Korea’s steel giant Posco and battery maker Samsung SDI will build and run an cathode production facility in Chile with lithium supply guaranteed by the Chilean government, the firms announced Sunday. The Posco and Samsung SDI consortium will make a combined investment of 57.5 billion won ($54.2 million) to set up a joint venture to start producing annually about 3,200 tons of cathode materials -- Nickel Cobalt Aluminum and Nickel Cobalt Manganese -- for electric vehicle batteries in the n
March 11, 2018
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LG Chem CEO sets revenue growth for 40 percent in 2020
SEOSAN, South Chungcheong Province -- LG Chem’s revenue will grow 40 percent in the next two years, driven by rising demand on batteries, particularly batteries for electric vehicles and energy storage systems, the company‘s chief executive said Friday.At a meeting with reporters Friday at LG Chem’s Daesan complex in Seosan, South Chungcheong Province, LG Chem CEO Park Jin-soo said that batteries will account for “about half” of the 10 trillion won ($9.3 billion) in revenue growth for the compan
March 11, 2018
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Blockchain can prevent delays in payment for products delivered by SMEs: report
Smart contracts based on blockchain technology can effectively prevent delays in payments for delivered goods and make it impossible to unilaterally alter original contracts, a local think tank said Sunday.The report by Korea Small Business Institute said blockchains can open new horizons for how small and medium enterprises conduct business with their larger contractors.Blockchain, often associated with cryptography and virtual currency, is considered an incorruptible digital ledger that can do
March 11, 2018
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First-day sales of Galaxy S9 only 70 percent of predecessor
The first-day sales performance of Samsung Electronics Co.'s new flagship Galaxy S9 smartphones were around 70 percent of the previous series in South Korea, industry sources showed Saturday, reflecting the market's weaker-than-expected reaction. According to the sources, 180,000 units of Galaxy S9 smartphones were distributed through the country's three mobile carriers on Friday, lower than the 260,000 units posted by the Galaxy S8 series. Samsung's new smartphone is currently available only
March 10, 2018
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[Weekender] Cleaning delivered to your door with a simple tap
With temperatures slowly rising, the number of Koreans in long, padded jackets is dwindling.Coming on March 21 this year, the official start of spring is a traditional time for cleaning. And younger Koreans are going digital by opting for mobile apps to find veteran cleaners. Victor Ching, CEO of Miso, noticed the potential of a mobile-based cleaning service here and launched a cleaning app of the same name in August 2015 with a dream to create an “Uber” in cleaning. Victor Ching, CEO of Miso (
March 9, 2018
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Samsung Bioepis launches Europe’s first Herceptin biosimilar
Samsung Bioepis, the new drug development arm of South Korea’s Samsung Group, has launched its Herceptin biosimilar in the UK through its local marketing partner MSD, becoming the first company to bring a cheaper copy of the blockbuster anticancer drug to Europe. MSD, also known as Merck & Co. in North America, announced Thursday that Ontruzant, the first biosimilar copy of Roche’s breast cancer therapy Herceptin (trastuzumab), had begun sales in the UK. Biosimilars refer to cheaper, near-replic
March 9, 2018
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Human players beat AI robots in curling game
ICHEON -- Human players handily beat robots with artificial intelligence (AI) in a curling game on Thursday, despite the machines demonstrating evolving skill levels.At a competition hosted by the Ministry of Science and ICT, two robots named Curly exhibited considerable skill in placing stones on target and showed the ability to formulate strategy.Two robots named Curly face off against a human team at a competition hosted by the Ministry of Science and ICT in Icheon Thursday. (Yonhap)The robot
March 8, 2018
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Samsung SDS seeks lead in smart logistics with AI, blockchain
Samsung SDS, the IT solutions and logistics service arm of South Korea’s Samsung Group, is seeking to outshine rivals in the global logistics business with its smart logistics platform that leverages artificial intelligence and blockchain technology to improve operational efficiency. The company on Thursday shared the latest upgrades to it smart logistics platform Cello -- an end-to-end integrated logistics solution that handles logistics process from start to finish, including supply chain plan
March 8, 2018
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MWC phones hit Korean market Friday
Major smartphones introduced at this year‘s Mobile World Congress by Korean strongholds Samsung and LG are set to hit the market Friday amid concerns about a slowdown in the smartphone market here.Samsung Electronics is rolling out its Galaxy S9 while LG Electronics is bringing out its V30S ThinQ, both of which were showcased at MWC in Barcelona.With LG having pushed back the release of its newest flagship phone, tentatively being called the G7, industry interest has been focused on the sales pe
March 8, 2018
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Artificial intelligence is coming to home karaoke
Artificial intelligence is coming to home karaoke, with wireless carrier KT and karaoke machine maker KY Kumyoung Group teaming up to create a new service this year, according to KT on Thursday.The two firms signed an agreement Thursday at KT’s headquarters in Jongno-gu, Seoul. The two companies are planning to create a new artificial intelligence-powered karaoke service for homes this year, and to continue cooperating in the entertainment sector using KT’s latest technologies and Kumyoung’s mus
March 8, 2018