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Hantan River area listed as UNESCO Global Geopark
USFK expresses regrets over soldiers' unruly behavior at beach
S. Korea to provide US$4m in aid to 14 countries hit by locust swarms
Citibank Korea launches AI chatbot consulting service
Sports ministry to cooperate with legal authorities to root out abuse in at...
Korean Air to sell off inflight service operations to Hahn & Co.
Korea, Spain discuss cooperation in digital, green tech
LG Electronics’ Q2 earnings better than feared
NCSoft’s market cap soars, briefly entering top 10
Culture Station Seoul 284 to unveil ‘New Discovery of Travel’ exhibition ...

Jul 7, 2020 Industry

Korea, Spain discuss cooperation in digital, green tech

South Korean and Spanish business experts discussed potential partnerships, especially in digital and green technologies, at a virtual conference on Tuesday. The Korea Chamber of Commerce and Industry held the 21st Korea-Spain Economic Cooperation Committee meeting online in collaboration with the Spanish Chamber of Commerce. The meeting comes after a phone conversation between President Moon Jae-in and King Felipe VI of Spain last month. It aims to serve as an opportunity to build momentum

LG Electronics’ Q2 earnings better than feared

LG Electronics on Tuesday announced its preliminary earnings for the second quarter of this year, beating forecasts by market watchers over concerns about sales falls during the COVID-19 outbreak. According to the earnings guidance, LG is expected to have posted 12.8 trillion won ($10.7 billion) in revenue and 493.1 billion won in operating profit for the April-June period. The figures were down 17.9 percent and 24.4 percent, respectively, from a year earlier. The second-quarter operating

Jul 7, 2020
Technology
NCSoft’s market cap soars, briefly entering top 10

NCSoft continued to perform strong at the stock market, briefly entering the top 10 market capitalization list on Monday, nudging top automaker Hyundai Motor. Hyundai Motor managed to recover its 10th place as of Tuesday, though the gap between NCSoft remained at 76.1 billion won ($63.6 million). NCSoft is the only South Korean game company to have breached the 20-trillion-won mark in market valuation. The game company’s market cap reached 21.8 trillion won at the closing bell on the

Jul 7, 2020
Industry
Hyundai, SK chiefs discuss next-gen lithium-metal EV battery

Hyundai Motor Group Executive Vice Chairman Chung Euisun on Tuesday met SK Group Chairman Chey Tae-won at SK Innovation’s electric vehicle battery plant in Seosan, South Chungcheong Province, to discuss future partnerships and next-generation EV technologies including lithium-metal batteries. Current lithium-ion batteries consist of four key components: cathode, anode, electrolyte and separator. Lithium-metal batteries use metal instead of graphite for anodes, increasing energy density

Jul 7, 2020
Industry
State-led research institute launches AI education platform

The Electronics and Telecommunications Research Institute, a state-funded research body under the ICT Ministry, announced Tuesday that it has rolled out an educational program designed to nurture experts in artificial intelligence. The new educational program has been launched jointly by AWS and Nvidia’s regional offices, which provided assistance to develop the curriculum, according to ETRI. ETRI’s new curriculum includes platforms that allow students to get hands-on training i

Jul 7, 2020
Technology
Han Sung Motor extends unlimited engine oil service

Han Sung Motor, an official dealer of Mercedes-Benz in Korea, said Tuesday it has extended its promotion offering customers free and unlimited service for changing engine oil and oil filter by a month. Customers who purchase a new car from Han Sung Motor in July are still eligible for the free service. The promotion was initially held for the month of June, but will now be available at its 20 service centers across the country, even after the end of three-year guarantee period, the company sa

Jul 7, 2020
Industry
Jeju Air warns to abort from deal if Eastar Jet fails to meet conditions

Casting more doubt over the controversy-ridden merger of two budget carriers, Jeju Air reiterated its warning on Tuesday that it will cancel its acquisition contract if Eastar Jet fails to meet prerequisites by July 15. Jeju Air, South Korea’s largest low cost carrier by sales, released a statement that the company has “done its best” to close the acquisition deal since it signed the contract to acquire a 51.17 percent stake in rival LCC Eastar Jet for 54.5 billion won ($45 m

Jul 7, 2020
Transport
PMK chief urges regulation ease based on ‘facts, science’

Philip Morris Korea Managing Director Paik Young-jay urged Tuesday for the government to come up with differentiated regulations for its heat-not-burn e-cigarettes, as the industry is largely misrepresented due to its “ideological” approach, rather than based on science. Speaking at his first press conference held live on YouTube, the new managing director emphasized that heated tobacco products are less harmful substitutes for conventional cigarettes. In the first quarter of this

Jul 7, 2020
Industry
Hyundai Motor, SK chiefs vow to bolster EV biz partnership

The heir apparent of Hyundai Motor Group met with the head of refinery-to-battery conglomerate SK Group on Tuesday to discuss cooperation in the electric vehicle (EV) business. Hyundai Motor Group Executive Vice Chairman Chung Euisun and SK Group Chairman Chey Tae-won discussed cooperation on next-generation EV battery technologies, power management chips, and the "battery-as-a-service (Baas)" platform, the automaker said in a statement. Baas is a breakthrough business model mainl

Jul 7, 2020
Transport
Global shipbuilding orders at historic low in H1

Global new orders of ships fell to a historic low in the first half of the year amid the coronavirus pandemic, industry sources said Tuesday. In the January-June period, global new shipbuilding orders totaled 5.75 million compensated gross tons (CGTs), or a total of 269 ships, according to data provided by global market researcher Clarkson Research Service. The tally marks the lowest since 1996, when the market tracker began to compile related data, and a 42 percent drop from the previous y

Jul 7, 2020
Transport
Tables turn as USITC's initial determination favors Medytox

Medytox shares made a dramatic turnaround Tuesday, following the US International Trade Commission’s initial determination advising a 10-year sales ban on Daewoong Pharmaceutical’s Jeuveau. 　The South Korean company and its US partner Allergan had filed a complaint against Daewoong and its partner Evolus at the USITC in 2019 contesting that the latter’s botulinum toxin Jeuveau that hit shelves in the US was a product of industrial poaching. 　Medytox shares Tuesday shot up t

Jul 7, 2020
Industry
[Monitor] Koreans use smartphones more amid pandemic

Smartphone usage among South Koreans increased in the wake of the coronavirus outbreak, data showed Monday. According to a survey of 1,017 adult men and women nationwide conducted by local civic group Korean Addiction Forum last month, 44.3 percent of the respondents said smartphone usage time has increased -- either slightly or greatly -- since the implementation of social distancing measures. Among the increase of content, social media and messaging accounted for the largest proportion wi

Jul 7, 2020
Industry
Samsung's Q2 earnings outstrip market predictions

Tech giant to see W8.1tr in operating profit despite COVID-19 woes

Jul 7, 2020
Technology
Samsung Q2 earnings beat estimate on chip biz, one-time gains

Samsung Electronics Co. on Tuesday delivered market forecast-beating second-quarter earnings as strong demand for server chips apparently offset a slump in smartphone sales amid the novel coronavirus pandemic. In its earnings guidance, the South Korean tech giant expected its operating profit at 8.1 trillion won ($6.7 billion) for the April-June period, up 22.7 percent from 6.6 trillion won a year ago. The second-quarter operating income is far higher than the market consensus of 6.8 trillion

Jul 7, 2020
Industry
S. Korean IT leaders call for regulation changes for fair competition with foreign tech giants

The leaders of South Korea’s leading IT firms have called on lawmakers to change regulations for fair competition with foreign tech companies at the National Assembly on Monday. Kakao CEO Yeo Min-so, Naver CEO Han Seong-sook, Woowa Brothers CEO Kim Beom-joon and other tech leaders joined the forum held by lawmakers. “Local and foreign companies are offering their services here, but the regulations and penalties that bind them are seemingly different,” Kakao CEO Yeo said. W

Jul 6, 2020
Technology

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