Most Popular
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Key suspects grilled over alleged abuse of power in Marine death inquiry
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[Graphic News] Number of coffee franchises in S. Korea rises 13%
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S. Korean children, teens grow taller, mature faster than before: study
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Some junior doctors are returning: Health Ministry
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Army takes group action against Hybe for neglecting BTS
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[Robert J. Fouser] AI changes rationale for learning languages
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Marine Corps commander summoned by CIO for questioning on alleged influence-peddling case
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Woman dangling from power lines rescued by residents holding blanket
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Naver Q1 net income soars 1,171.9% on growth of major businesses
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Seoul-Tokyo trade talks to resume after 3 years
South Korea and Japan have agreed to hold talks to scrap Tokyo’s export restrictions on key industrial materials to Seoul, taking a step closer toward mending their soured bilateral ties over the years. Korea’s Ministry of Trade, Industry and Energy said Monday it is starting negotiations with its Japanese counterpart to ease export curbs that were imposed in 2019 in an apparent retaliatory measure against a court ruling in favor of Korean victims of forced labor during Japan&rsquo
March 6, 2023
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[KH Explains] Will rise of ChatGPT save chipmakers from mounting inventories?
As the latest frenzy over ChatGPT, OpenAI's artificial intelligence chatbot, has prompted global tech giants to jump into commercializing their own large-scale language models and services, anticipation is growing in the semiconductor industry that the new tech market could create lucrative business opportunities and help them clear out mounting inventories. Reflecting the fever for ChatGPT, shares of Nvidia, whose graphic processors are in high demand for high-capacity AI services, surged
March 6, 2023
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Trade minister, chipmakers to hold meeting on US CHIPS Act
South Korean Trade, Industry and Energy Minister Ahn Duk-geun will meet with officials of major semiconductor companies, including Samsung Electronics and SK hynix, Tuesday to discuss countermeasures to the US CHIPS Act and its requirements, according to the ministry on Monday. The meeting aims to listen to domestic chipmakers’ needs and grievances regarding the conditions for the first US CHIPS for America funding opportunity for subsidies and come up with negotiation and support measures
March 6, 2023
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Chip inventory hits 26-year high
South Korea's semiconductor inventory has increased to its highest point in 26 years, data showed Sunday, hammered by the sluggish demand for chips, the country's main export item, amid economic uncertainties. According to data compiled by Statistics Korea, the inventory to sales ratio of chips produced by local chipmakers came in at 265.7 percent in January, the highest since 288.7 percent was posted in March 1997. Exports of chips also nosedived 42.5 percent on-year to $5.69 billion
March 5, 2023
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[Beyond Earth] ‘Focus on space solutions, not market'
Korean space startups should look for problems and solutions instead of putting too much focus on technology’s future marketability, says the managing director at the Korean branch of Starburst, a US-based startup accelerator specialized in the aerospace sector. “Push back how big of an investment you can receive with your idea on the priority list,” Kim Sang-dawn, managing director of Starburst’s Korean office, told The Korea Herald in an interview at the Herald Square i
March 5, 2023
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[Photo News] Promoting Busan's Expo bid in Europe
SK Group Chairman Chey Tae-won (left), who doubles as chairman of the Korea Chamber of Commerce and Industry, talks with Denmark Prime Minister Mette Frederiksen at her office in Copenhagen, Friday, as he delivers President Yoon Suk Yeol’s personal letter asking for the European country’s support for Busan’s bid to host the 2030 World Expo. Chey has wrapped up his weeklong trip to Spain, Portugal and Denmark as a presidential special envoy.
March 5, 2023
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Medytox's BTX patent could face invalidation trial in US
A patent regarding Medytox’s botulinum toxin product can be embroiled in another legal dispute as its domestic rival Hugel filed for a patent invalidation in the US, according to industry sources on Friday. The patent, which could be considered for invalidation at the Patent Trial and Appeal Board in the US, concerns a method for isolating Botulinum toxin from solution. Medytox applied for the patent in 2017, and the patent was issued in May last year. Hugel, however, argues that the paten
March 3, 2023
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Celltrion Group’s retired founder Seo Jung-jin returns to management
Seo Jung-jin, the founder and the honorary chairman of Celltrion Group, will return to management after leaving the company in 2021, Celltrion announced Friday. On Friday, the biopharmaceutical group's key affiliates -- Celltrion Holdings, Celltrion, Celltrion Healthcare, and Celltrion Pharma held separate board meetings and recommended Seo as a candidate for director and co-chairman of the board of directors. Seo’s return will be determined at the four companies’ separate share
March 3, 2023
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Samsung’s global DRAM market share inched up; revenue plummeted in Q4
As global chipmakers struggle with a severe market downturn, Samsung Electronics managed to maintain its market share while seeing a sharp loss in revenue, data showed on Thursday. According to market tracker TrendForce, global DRAM revenue fell by 32.5 percent in the fourth quarter of 2022, when compared to the previous quarter, showing a decline similar to the 36 percent of the final quarter of the 2008 -- when the world was hit by a major financial crisis. The top three DRAM suppliers, Samsun
March 3, 2023
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Naver's Webtoon ranked one of world's most innovative platforms
Webtoon, South Korean tech giant Naver’s digital comics platform, has been ranked No. 8 on Fast Company’s list of the World’s 50 Most Innovative Companies of 2023. Fast Company is a monthly American business magazine that publishes an annual ranking of the most innovative companies, this year in 54 different industries and sectors. In the media sector, Webtoon was ranked top, followed by The New York Times. Fast Company said, “Webtoon pioneered a new way to experience dig
March 3, 2023
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KT, Intel join hands to launch world's first Wi-Fi 7
South Korean telecommunications giant KT said Thursday it is joining hands with Intel to introduce Wi-Fi 7 technology as the first network service operator. KT and Intel signed an agreement on Tuesday to work together to develop and promote Wi-Fi 7 technology, next-generation Wi-Fi standard, on the sidelines of this year’s Mobile World Congress in Barcelona, Spain, the Korean telecommunications giant said. Wi-Fi 7 would pack more data into each transmission and raise the speed significantl
March 3, 2023
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[Photo News] Smart cottage
LG Electronics introduces a new residential concept of its Smart Cottage, a small modular house equipped with LG's advanced energy and air conditioning technology and filled with differentiated premium home appliances. The smart cottage prototype unveiled has a two-story one-room structure. The living room and kitchen are in one space, and the toilet and powder room are separate.
March 2, 2023
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L&F wows investors with $2.9b Tesla deal
South Korean battery materials maker L&F is expected to continue growing after it recently wowed investors around the world by signing a $2.9 billion supply deal with US electric vehicle giant Tesla, according to analysts Thursday. L&F on Tuesday posted in a regulatory filing that it will provide high-nickel cathode materials to Tesla for two years from Jan. 1, 2024, to Dec. 31, 2025. The two-year contract is almost four times bigger than L&F’s total sales of 971 billion won ($
March 2, 2023
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Korea looks to grant full autonomy, flexibility for new space body
South Korea aims to establish a space agency based on a special law granting a degree of autonomy and flexibility the country’s public sector has never seen, reflecting the government’s all-out efforts to develop and support the space sector. The Ministry of Science and ICT on Thursday announced the beginning of the advanced publication of legislation for the special law on the establishment and operation of the country’s new space agency. The space agency has been tentatively
March 2, 2023
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SK Square CEO upbeat about partnership with EQT to nurture global security firm
SK Square Vice Chairman and CEO Park Jung-ho on Tuesday showed high expectations about joint management with Sweden’s EQT Infrastructure to nurture SK Shieldus into a global security firm. In a press conference held on the sidelines of this year's Mobile World Congress in Barcelona, Spain, Park -- who also doubles as SK hynix CEO -- revealed that EQT Infrastructure will purchase a total 68 percent stake to become the top shareholder of the Korean Security firm. EQT Infrastructure is a
March 1, 2023
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SKT to expand global presence ifland metaverse platform
South Korean telecommunication giant SK Telecom is launching its metaverse platform ifland in the United States, Europe and Southeast Asia, in cooperation with a number of global telcos, the company said Wednesday. SKT said it inked separate agreements with Germany’s Deutsche Telekom, US’ T-Mobile, Axiata, which operates in 11 countries in Southeast Asia, and Malaysia’s CelcomDigi on expanding the ifland service, on the sidelines of this year’s Mobile World Congress. &ldq
March 1, 2023
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GC acquires Catalyst's orphan hematology disorder pipeline
GC Biopharma announced on Tuesday that it has signed an asset purchase agreement with US drug developer Catalyst Biosciences to acquire its orphan hematology disorder treatment candidates. Under the agreement, GC Biopharma will acquire three drug candidates including Marzeptacog alfa (MarzAA), a rare bleeding disorder treatment candidate, which is being tested in a phase 3 global clinical trial. With the latest agreement, GC Biopharma aims to launch a first-in-class novel drug in global markets,
Feb. 28, 2023
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Huons to export local anesthetics to Canada
Huons, a local bio company, announced Tuesday that the company received regulatory approvals from Health Canada to export the company’s local anesthetics. According to Huons, both ampoule and vial types of its lidocaine -- the most widely used local anesthetic -- have received approvals from Health Canada. The company will first send 70,000 vials of its lidocaine in the second quarter this year. Formative Pharma, a Canadian firm specializing in the registration and distribution of pharmace
Feb. 28, 2023
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Tech leaders flock to MWC to take cue for innovation
Chiefs of South Korea’s major information and communication technology conglomerates attended the Mobile World Congress 2023, which kicked off in Barcelona, Spain, on Monday. As innovative future technologies ranging from telecommunications and mobile to artificial intelligence and robots are showcased at the event, they gathered to foster new growth engines. On the first day of the MWC, SK Group Chairman Chey Tae-won visited the ICT trade show to support the group’s telecommunicatio
Feb. 28, 2023
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Swedish EQT Partners to acquire SK security affiliate for W3tr
EQT Partners, a private equity fund operated by Sweden’s largest conglomerate, the Wallenberg Group, is expected to acquire SK Shieldus, a South Korean security firm, for about 3 trillion won ($2.27 billion) sources said Monday. EQT Partners is expected to sign the deal this week to purchase a 30 percent stake in SK Shieldus from the top shareholder SK Square, which holds a 63.13 percent stake. SK Square is the investment arm of South Korea’s No. 2 conglomerate SK Group. The Swedis
Feb. 27, 2023