Most Popular
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[Exclusive] Korean military set to ban iPhones over 'security' concerns
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Korean, Romanian leaders discuss defense tech, nuclear energy
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[Graphic News] 77% of young Koreans still financially dependent
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S. Korea calls on Japan to confront history amid Yasukuni Shrine visit
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Yoon’s jailed mother-in-law excluded from latest parole list
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Hybe and Min Hee-jin, CEO of Hybe sublabel Ador, lock horns
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[Pressure points] Leggings in public: Fashion statement or social faux pas?
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Yoo Jae-suk, Yoo Yeon-seok team up in 'Whenever Possible'
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Korea’s homegrown nanosatellite successfully launches into space
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Aging population to drive down Korea's housing prices from 2040: experts
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Disney+ likely to be introduced via LG U+ first and possibly KT later
Disney+, the US entertainment giant’s streaming service, is expected to land in Korea via LG U+ first, the smallest of the country’s three IPTV providers. Then, it may team up with KT, the largest of the three, to further expand its reach. Earlier, Disney officially announced the Nov. 12 launch of Disney+, with a monthly subscription fee of 9,900 won ($8.40). It, however, did not disclose who its local partner is, fanning market speculation that the two Korean telecommunications
Sept. 19, 2021
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KT creates investment arm for digital transformation
KT, one of South Korea’s leading telecom companies, said Friday it has created an organization dedicated to new investments and external partnerships in a bid to speed up the firm’s transformation into a digital platform business. The new organization is called “Group Transformation” and has been established under the CEO’s office. KT has appointed Yoon Kyung-lim, who had led KT’s media, future convergence and global businesses, as president of the new
Sept. 17, 2021
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LG Energy Solution invests W35b in Chinese battery material supplier
South Korea’s leading battery maker LG Energy Solution will acquire a 4.8 percent stake in a Chinese battery material supplier for 35 billion won ($29.7 million), the company said Friday. The subsidiary of LG Chem said it has signed a deal with China’s Greatpower Nickel & Cobalt Materials for a stable supply of battery materials. Shanghai-based Greatpower has been building a plant in China for nickel sulfate, a major ingredient for lithium-ion batteries used in electric vehi
Sept. 17, 2021
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Samsung Display’s 90Hz OLED panel featured in ASUS’ new laptops
Samsung Display on Thursday said it began supplying the 90-hertz organic light-emitting diode panels for laptops of Taiwanese brand ASUS, as demand for higher-end laptop screens grow amid the pandemic. The display panels are to be featured on ASUS’ 14-inch Zenbook and Vivobook Pro series, it said. The supply marks a successful commercialization of laptop-sized OLED displays with a refresh rate of 90 hertz, which makes moving images on laptop screens look more natural. It is ideal for u
Sept. 16, 2021
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[Herald Interview] Design at heart of Samsung’s evolution to better satisfy consumers: exec
In the field of consumer electronics, Samsung Electronics has taken strides design-wise. Following the success of the trendy and ingenious Bespoke home appliance lineup, its latest smartphone releases, Galaxy Z Fold3 and Flip3, became a hit among design-conscious consumers, heralding a new era of foldable devices. Behind the feats is the company’s dual focus on technology and design, or its strenuous effort to mingle the two worlds, with the aim of bringing real benefits to consumers
Sept. 16, 2021
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SK Innovation wins shareholder approval for battery unit split-off
Shareholders of SK Innovation on Thursday approved a plan to split off the battery business, the company said With the endorsement, which was made at a general shareholders’ meeting held earlier in the day, SK Innovation, a refinery-to-battery subsidiary of South Korea‘s No. 3 conglomerate, will split into two entities, which will be respectively in charge of battery and petrochemical businesses. The new entities will be officially launched Oct. 1, according to the company. SK
Sept. 16, 2021
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LG Uplus seeks to boost smart factory biz
LG Uplus Corp., a major South Korean telecom operator, said Thursday it aims to increase sales from its smart factory solutions business by sevenfold within five years as part of its broader push to boost its enterprise-focused services. The telecom operator has recently been developing industrial solutions that use its 4G and 5G networks to automate workload and improve safety. The carrier said in an online briefing its smart factory solutions are currently used in 150 locations across the co
Sept. 16, 2021
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Disney+ expected to bring fresh spin to fast-evolving streaming market in South Korea
For die-hard South Korean fans of “The Simpsons,” Marvel and “Star Wars” franchises, the planned launch of Disney+ on Nov. 12 is a long-awaited day for celebration -- and binge-watching. Netflix and other streaming services currently available in Korea do not offer the much-coveted video library of the Walt Disney Co., so the introduction of another video service is a welcome development for viewers. The launch of Disney+ also signals a fresh round of competition in
Sept. 15, 2021
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S. Korea to invest W2.6t in hyperconnectivity
The South Korean government said it will invest 2.6 trillion won ($2.2 billion) by 2025 in hyperconnectivity and related technologies used in newly emerging services, such as metaverse, blockchain and cloud technology. The Ministry of Science and ICT on Wednesday held an online meeting to discuss its future investment plans to support the development of key technologies in the information and technology industry. During the meeting, Minister Lim Hye-sook said, “The metaverse sector and
Sept. 15, 2021
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SK Bioscience likely to secure vaccine supply deal from COVAX next year: report
SK Bioscience is expected to secure a large-size COVID-19 vaccine supply deal from the COVID-19 Vaccine Global Access Facility next year, a local brokerage firm said Wednesday. The possible deal will boost earnings of the South Korean pharmaceutical company, it added. GBP510, the firm’s COVID-19 vaccine candidate, is a recombinant-protein vaccine funded by the Bill and Melinda Gates Foundation and the Coalition for Epidemic Preparedness Innovations, which is leading the vaccine-sharing
Sept. 15, 2021
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Google fights back, says it brings W11.9tr economic benefits to Korea
Google, under fire in South Korea for allegedly abusing others with its market power, on Wednesday hit back at the criticism, arguing it contributed 11.9 trillion won ($10.25 billion) in economic benefits to Koreans last year. Holding an online press event it called “Google for Korea,” executives of the US giant cited data from global market analysis firms to tout the positive side of its presence in Korea. “Last year, YouTube’s creative ecosystem contributed around 1
Sept. 15, 2021
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Chip sales drive last month’s ICT exports past $20b, the best August result
South Korea’s exports of information and communication technology products in August surpassed $20 billion for the first time in 34 months, on robust sales of semiconductor products, government data showed Tuesday. According to the Ministry of Science and ICT, the country’s outbound shipments of ICT products last month reached $20.27 billion, up 33.2 percent on-year. It was the best results ever recorded for the month of August, and second-best for any month. With that, the ICT e
Sept. 14, 2021
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Google slapped with $177m in fines for abusing market power
South Korea‘s antitrust regulator said Tuesday it has decided to fine US-based tech giant Google 207.4 billion won ($176.8 million) for abusing its market power with the Android mobile operating system. In addition to the fine, the FTC ordered Google to stop forcing device manufacturers to sign an anti-fragmentation agreement, which has prevented the manufacturers from using operating systems developed by Google’s rivals or other variants of Android. The FTC began investigating ac
Sept. 14, 2021
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Kakao creates W300 billion fund, pledges to work for society
Kakao Group, the largest mobile technology business in South Korea, pledged on Tuesday to spend 300 billion won ($255.4 million) to support small businesses and the self-employed, looking to soothe growing public criticism over its rapid business expansion. Top executives of Kakao Corp. and affiliates met Monday and Tuesday to devise a package of measures for its “co-existence” with small enterprises whom critics said the mammoth platform is driving out of market, which included th
Sept. 14, 2021
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[News Focus] Naver, Kakao: How icons of innovation have come under fire
It took two decades for Naver to grow from an internet portal site to a giant in e-commerce, content and mobile payment, and just one decade for Kakao to build a sprawling business empire encompassing commerce, mobility and entertainment, off its mobile messaging app. Both were praised for innovative internet and mobile technologies that changed the way Koreans work, buy and communicate, making life without their services almost impossible to imagine. But just as their dominance is further
Sept. 13, 2021
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Samsung Bioepis says its trastuzumab biosimilar as safe, effective as original
South Korean pharmaceutical company Samsung Bioepis said Monday its breast cancer treatment biosimilar Ontruzant is proven to be just as safe and effective as the original drug. The Korean drugmaker conducted a follow-up study lasing five years, tracking 367 patients with human epidermal growth factor receptor 2 positive breast cancer. The patients received several cycles of trastuzumab biosimilar Ontruzant or the reference medicine along with chemotherapy and surgery during the period. S
Sept. 13, 2021
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[Larry Corey] What we know about delta and vaccination
Sobering findings of the past few weeks have shaken both the American and scientific psyche. People have had to reassess their perceptions about the COVID-19 vaccines, and the reemergence of an epidemic many thought was over. Many of us have had to come to terms with how life can sometimes just be complicated. It’s been a scientific and emotional roller coaster. In the spring, we saw the alpha variant, which was two times more infectious than the ancestral strain. That was followed by be
Sept. 12, 2021
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Kakaopay to suspend car insurance comparison service
Kakaopay, a financial unit of tech giant Kakao Corp., will suspend its car insurance comparison service later this month after providing an unauthorized brokerage service, industry sources said Friday. Kakaopay's service to help customers find the best deal among six partnered car insurers, including Hyundai Marine and Fire Insurance Co. and DB Insurance, will be suspended from Sept. 25, according to the sources. The Financial Services Commission said the online program is not advertising tha
Sept. 10, 2021
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FTC to keep eyes on unfair practices in e-commerce sector
Amid growing scrutiny of online giants Naver and Kakao, South Korea’s antitrust watchdog chief on Friday spoke of the need to regulate massive online platforms in order to better protect small vendors and consumers. “E-commerce platforms have brought new benefits and convenience, but concerns over side effects have newly arisen,” Joh Sung-wook, chairperson of the Fair Trade Commission, said during a breakfast meeting organized by the European Chamber of Commerce in Korea.
Sept. 10, 2021
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S. Korea's mRNA vaccine consortium gets two new members
Two more local companies have newly joined the “K-mRNA vaccine consortium,” a local alliance of pharmaceutical companies dedicated to co-developing and co-producing homegrown messenger RNA vaccines. The consortium, led by Hanmi Pharmaceutical, GC Pharma and ST Pharm, on Thursday announced the participation of pharmaceuticals company Dong-A ST and medical equipment and materials maker Ecell, which it said will speed up its joint research and development of COVID-19 vaccines. Dong
Sept. 9, 2021