Most Popular
-
1
Court refuses injunction on medical school expansion
-
2
Why Korean crime stories typically feature nameless, faceless perpetrators
-
3
Debate on 'no-seniors zones' heats up
-
4
Is NewJeans headed for a long 'break'?
-
5
S. Korea, Cambodia forge strategic partnership
-
6
Police raid popera singer Kim Ho-joong's house over hit-and-run suspicions
-
7
[KH Explains] Hyundai-backed Motional’s struggles deepen as Tesla eyes August robotaxi debut
-
8
Trump may like to 'solve' N. Korean nuclear problem if reelected: ex-official
-
9
New Seoul High Prosecutors’ Office chief vows full-fledged probe into first lady
-
10
[Graphic News] UK tops global chart for child alcohol use
-
Cha University GRRC holds symposium on natural resource for medical use
Cha University’s Region-Specific Resource Advancement Center in Northeast Region of Gyeonggi-do (GRRC) recently held a symposium to present cutting-edge technology on natural resources’ separation and refinement using Prep-HPLC technology, it said Thursday. GRRC is a regional platform to share the latest expert scientific opinions on participating corporations’ local natural resources-based novel drug development. The event held on Sept. 27 marked the sharing of technolog
Dec. 5, 2019
-
KAI succeeds in first flight of light civil helicopter
Korea Aerospace Industries has successfully performed the first flight test of its light civil helicopter, the firm said Thursday. The helicopter delivered its first flight performances for about 20 minutes after take-off, KAI said.The light civil helicopter, which began development in June 2015, is now applied with advanced technologies for the main gearbox, cockpit and canopy, KAI explained. It is also equipped with a main rotor and tail rotor with low vibration and noise.The copter can be dep
Dec. 5, 2019
-
LG Chem, GM to set up EV battery manufacturing joint venture in Ohio: report
LG Chem Ltd., South Korea's leading chemical company, and US auto giant General Motors have reportedly reached an agreement to set up an electric vehicle battery manufacturing joint venture in the United States.The two sides are expected to make an announcement on Thursday (US time) on establishing a 50:50 joint venture in Ohio, Reuters reported, citing unnamed sources.GM and LG Chem are expected to chip in more than $1 billion to set up an EV battery producing facility, Reuters said. LG Chem de
Dec. 5, 2019
-
IKEA to open its 3rd store in S. Korea next week
Swedish furniture giant IKEA said Thursday that it will open its third outlet in South Korea next week as it strives to strengthen its presence in Asia's fourth-largest economy.IKEA Korea said the 49,800-square-meter store set to open in Giheung on Dec. 12 will enhance accessibility to residents in the nearby area with new services such as home furnishing consultants and a seamless shopping experience offline and online.IKEA Giheung Market Manager Anje Heim said she is excited to "offer bet
Dec. 5, 2019
-
Ballantine’s leads imported Scotch whiskey market in Korea
Ballantine’s was the most consumed Scotch whiskey in Korea in the last three years with a market share of 28 percent, its distributor Pernod Ricard Korea said Thursday. “Data shows the international Scotch whiskey market in Korea grew by an average 7 percent every year since 2017,” said Florent Leroi, chief of Pernod Ricard Korea’s marketing division. “During this period, Ballantine’s revenue grew by an annual average of 9.2 percent,” Leroi said, un
Dec. 5, 2019
-
S. Korea vows to revitalize manufacturing sector amid protectionism
South Korea said Thursday it will spare no efforts to support local manufacturers in overcoming the growing protectionism around the globe and revamp related policies to provide them with more leeway in rolling out investment."Despite the difficult business environment, we need to overcome various hurdles and challenges to maintain and beef up our competitiveness as a manufacturing powerhouse," Industry Minister Sung Yun-mo said during a meeting with business executives in Seoul.Partic
Dec. 5, 2019
-
KT, China Mobile to boost cooperation on 5G roaming, blockchain system
KT Corp., South Korea's major telecommunication service provider, on Thursday said it has agreed with China Mobile Communication Corp. to boost cooperation on 5G roaming services and a blockchain system. Using China Mobile's network, KT said its 5G roaming services in China will be available later this month. The two sides demonstrated their 5G roaming operations in May.KT said its "Narle" service, which allows a high-definition group video chat with a maximum eight people, also perfor
Dec. 5, 2019
-
SK Innovation completes EV battery cell plant in China
SK Innovation Co., a major energy and chemical company in South Korea, said Thursday that it has built its first electric vehicle battery cell manufacturing plant in China in the latest move to tap deeper into the world's largest EV market.The completion ceremony for BEST -- a joint venture established by SK Innovation, Beijing Automotive Group and Beijing Electronics -- in Changzhou in the eastern Chinese province of Jiangsu drew more than 500 guests, including the companies' executives.BEST is
Dec. 5, 2019
-
Taihan Electric Wire to establish fiber optic cable JV in Kuwait
Taihan Electric Wire Co., a major cable maker in South Korea, said Thursday it will establish a fiber optic cable manufacturing joint venture in Kuwait to tap deeper into the Middle East market. Under the agreement with its Kuwaiti partners, including Rank General Trading and Contracting Co., Taihan said the joint venture will set up their facilities in Mina Abdullah Industrial Area, southeast of Kuwait City, in the first half of 2020.Taihan said the joint venture will be Kuwait's first fiber op
Dec. 5, 2019
-
S. Korea seeks to boost hydrogen in energy mix
South Korea is witnessing slow but meaningful progress in its march toward a hydrogen-based economy, with the pollution-free power source set to take up a greater slice of the country's energy mix down the road.The Moon Jae-in administration has been pushing to cut the country's dependency on conventional energy sources such as fossil fuels and move toward sustainable resources like hydrogen, sunlight and wind.In line with this vision, South Korea has been promoting the development of hydrogen f
Dec. 5, 2019
-
CJ Cheiljedang, franchisees sign pact on fair transactions
CJ Cheiljedang Corp., South Korea's top food maker, and its franchisees signed a pact that helps promote fair business transactions between the two sides, the antitrust regulator said Thursday. It was the first time that a big company signed such a pact with franchisees since tougher laws on franchise businesses took effect in July this year, the Fair Trade Commission said in a statement. Under the pact, a franchisee can ask CJ Cheiljedang to renew their contract 10 years after their f
Dec. 5, 2019
-
SK chief’s wife files divorce countersuit, claims 42.3% of his stake in firm
Roh So-young, founder of Art Center Nabi and wife of SK Group Chairman Chey Tae-won, has filed a divorce countersuit against her husband, claiming a huge stake in the nation’s third-largest conglomerate.She submitted her case to the Seoul Family Court on Wednesday afternoon, giving her first official consent to the divorce, local news outlets reported. She has sought the division of property, claiming 42.3 percent of Chey’s stake in the group’s holding unit SK Holdings.Chey, cu
Dec. 4, 2019
-
Samsung BioLogics bags W86b contract deal
A new contract manufacturing deal bagged by Samsung BioLogics, potentially worth 86 billion won ($72 million), has boosted its target stock price. SK Securities on Wednesday adjusted its target price for Samsung BioLogics shares to 470,000 won, from the previous 400,000 won. “Samsung BioLogics’ 2020 unconsolidated operating profit is anticipated to increase 684.5 percent on-year to 234 billion won,” said analyst Lee Dal-mi, along with forecasting that its 2019 operating profit
Dec. 4, 2019
-
Naver joins cross-border mobile payment alliance
A financial arm of South Korea's leading portal operator Naver Corp. said Wednesday it has joined a cross-border mobile payment alliance with its Asian partners.The collaboration enables the four companies' nearly 80 million users to make electronic payments at stores that use Naver Pay, Line Pay and Payco in South Korea, Japan, Thailand and Taiwan, according to Naver Financial Corp. The partnership was signed with Japan-based Line Pay Corp., Taiwan's iPass Corp. and Naver's NHN Payco Corp. Unde
Dec. 4, 2019
-
Intel eyes AI on 'edge computing'
US chipmaker Intel Corp. said Wednesday that it will focus on "edge computing" that could hold the key to the success of artificial intelligence in the future.Edge computing refers to the practice of storing data on computers located near cell towers and other network equipment to improve network response times. It is different from today's cloud-based system, where information is sent to a distant data center."Forty-three percent of AI tasks will be handled by edge computing in 2
Dec. 4, 2019
-
Seoul Court upholds W1tr penalty for Qualcomm
The Seoul High Court ruled on Wednesday in favor of the nation’s antitrust watchdog in a legal battle with US chipmaker Qualcomm over a record penalty of 1 trillion won ($837 million). “The court dismissed Qualcomm’s requests and partially sided with the Fair Trade Commission,” said the FTC in a statement on the day. The “partial” decision is due to the court deeming that some corrective actions taken against Qualcomm were illegal, although the imposition
Dec. 4, 2019
-
S. Korea to nurture food sector as new growth engine
South Korea said Wednesday it will double the size of key food industries by 2030 to serve as a new growth engine by easing regulations and revamping related policies.Under the plan, South Korea plans to focus on five major foodstuff industries, namely customized, functional, ready-to-eat, environmentally friendly and export-oriented products, according to the Ministry of Agriculture, Food, and Rural Affairs.The size of the five industries, which was estimated at 12.4 trillion won ($10 billion)
Dec. 4, 2019
-
GS Group chairman retires, passes baton to younger brother
GS Group said Tuesday that Huh Tae-soo, vice chairman of its TV shopping channel subsidiary, will lead the energy-to-retail giant and also be chairman of its board. The leadership succession at South Korea’s eighth-largest conglomerate will be carried out after a shareholders meeting next year. Huh, who is now with GS Home Shopping, replaces his elder brother Chairman Huh Chang-soo who tendered his resignation, citing the need for a leadership transfer amid the fast-changing business
Dec. 3, 2019
-
Heads of Posco, SK say CSR new business opportunity
The heads of South Korea’s two major conglomerates, Posco and SK Group, attended a rare joint event Tuesday to promote corporate social responsibility, indicating a possible partnership to generate social value for sustainable growth.The purpose of the event, held at Posco’s head office in Seoul, was to share the steelmaker’s vision of becoming a responsible business entity and to present the CSR projects carried out by affiliates over the past 1 1/2 years. Posco Chairman Choi
Dec. 3, 2019
-
Foreigners scoop up Kakao on improving earnings, biz diversification
Foreign investors' love for Kakao Corp. seems to be showing no signs of a letup, even during their weekslong sell-off spree of local stocks, on expectations that the operator of the country's most popular messenger KakaoTalk may get a further boost from its lucrative platform, content and fintech-related businesses, main bourse data showed Tuesday.From July 1 to Dec. 2, foreigners net purchased Kakao stocks worth 747 billion won ($629 million), second most behind Samsung Electro-Mechanics Co.'s
Dec. 3, 2019