SAN DIEGO -- Samsung Biologics is showcasing its top-tier production capacities at the world’s largest biopharmaceutical exhibition, the South Korean company said Monday. Taking part in the BIO International Convention for the 10th consecutive year, Samsung Biologics has set up a sizable 140-square-meter booth to represent its world-leading production capacity as one of the largest contract and ...

Business lobbies call for immediate resolution, saying damage is snowballing across industries

McDonald’s, the world’s largest burger chain by revenue, is seeking a buyer to take over the Korean business it wholly owns, six years after its first attempt, which fell apart after a local dairy company backed out. “We’re looking for a strategic partner who could help our business here grow. We’re looking at several options with outside advisers,” a McDonald’s Korea official said Friday, decli...

Lotte Biologics has picked Lee Won-jik, a former Samsung Biologics executive, to lead its bio business as the company’s CEO. Born in 1977, Lee has over two decades of experience in global biologics and the pharmaceuticals industry, including working at the US Department of Health and Human Services and Bristol Myers Squibb. Before he joined Lotte in August, Lee was the head of Samsung Biologics’...

Kyobo Life Insurance Co., a major life insurer in South Korea, said Friday it will issue $500 million worth of hybrid bonds next week in a bid to further bolster its financial health. The 30-year bonds will all be sold to offshore investors Wednesday and will carry an annual interest rate of 5.9 percent and a call option after five years, said the country's third-largest life insurance company. ...

Jin Air Co., the budget carrier unit of Korean Air Lines Co., said Friday it is resuming the operation of its mid-to-large B777-200ER airplane starting this weekend to meet growing travel demand amid eased COVID-19 restrictions. The aircraft will be added to the Gimpo-Jeju route Sunday, about 16 months after its suspension over the outbreak of the pandemic, the company said in a release. The sa...

Hyundai Steel said Thursday it has developed high-quality alloy steel that reduces noise emitted by electric vehicles. The steelmaking technology was jointly developed with Hyundai Motor Group and its affiliate, Kia, and was certified as a New Excellent Technology (NET) by the Ministry of Trade, Industry and Energy. The company said reducers made of the alloy steel enhances thermal management o...

Manufacturers in the fields of auto, steel and construction that rely heavily on supply deliveries via freight trucks expressed concerns over intensifying logistics disruptions caused by a unionized cargo drivers’ strike on Thursday. According to the industry on Thursday, the country’s largest automaker Hyundai Motor Group has suspended operations of four factories inside its Ulsan plant due to ...

High school students are invited to compete in the 2022 Korea Economics Olympiad, which is held to select entrants for the International Economics Olympiad (IEO). The IEO is an annual competition for high school students in economics. Held since 2018, the IEO’s activities are designed to stimulate creative problem-solving skills among students interested in economics, business and finance. It is...

Business leaders and experts from South Korea and the US discussed solutions to tackle sustainability risks facing businesses during a seminar hosted by the American Chamber of Commerce (AmCham) in Korea on Thursday in Seoul. AmCham Korea Chairman and CEO James Kim stressed that doing business in responsible and socially conscious ways is more critical than ever, as both nations have renewed the...

Officials from South Korea and ASEAN toast in front of the Indonesian booth at ASEAN Trade Fair 2022, held at Kintex in Goyang, Gyeonggi Province, on Tuesday.

South Korean shipbuilders took back the top spot from China in the world market in May, winning nearly half of total global orders. Korean companies won 1.2 million compensated gross tonnage (CGT) in shipbuilding orders during the month, which accounted for 48 percent of the total global ship orders of 2.5 million CGT, according to the UK-based Clarkson Research Services on Tuesday. China ca...

Hyundai Motor Co. said Thursday the ongoing truckers' strike is affecting production at its main domestic plants, which are already suffering from a global chip shortage. About 6,500 out of 22,000 members of the Cargo Truckers Solidarity began a general strike on Tuesday, demanding the government extend a freight rate system meant to guarantee their basic wages amid soaring diesel prices. Strik...

Daewoo Shipbuilding & Marine Engineering has obtained a 1.07 trillion won ($850 million) order to build four LNG carriers for a Qatari state oil firm, it said in a regulatory filing Tuesday. The order is the first batch of a $20 billion deal that three South Korean shipbuilders -- Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering, and Samsung Heavy Industries -- had signed with ...

Mixer trucks are seen parked at a garage in Anyang, Gyeonggi Province, on Wednesday, the second day of the Cargo Truckers Solidarity strike. South Korean truckers, under the hard-line umbrella group Korean Confederation of Trade Unions, went on an indefinite strike a day earlier, demanding the expansion of the Safe Trucking Freight Rates System and an increase in freight charges.