Demand, sales of chicken breasts soar, upping competition among food, home meal replacement companies

In the wake of the COVID-19 pandemic, demand for telemedicine services is on the rise, urging governments to relax related regulations. The market value for the global telemedicine market has been continuously growing from $18.1 billion in 2015 to $30.5 billion as of 2019. The market is forecast to expand to $35.5 billion this year and to $41.2 billion next year, according to data by market researcher Statista. South Korea has been a country that strictly regulates telemedicine, but the gov

Samsung Electronics Co.'s chip production in the first quarter of the year increased 57.4 percent from a year earlier despite the spread of the novel coronavirus, the company's quarterly business report showed Monday. Samsung, the world's largest memory chip maker, produced 277.4 billion units of semiconductors in the January-March period, up from 176.2 billion units a year earlier, according to the report. Its chip factory operation rate was 100 percent. Industry insiders said Samsung's i

The outbreak of the novel coronavirus has led to a change in the home appliance consumption trends, with increased popularity of electronics helping household chores and less demand for grooming and beauty-related products, according to the retail industry Sunday. According to Homeplus, a South Korean discount chain, the sales of dishwashers and dish dryers jumped by 36 times in March and April compared to a year earlier. On the list of best-selling products by sales, those machines soared

LG Electronics has introduced a portable air conditioner with greater flexibility in use and better connectivity with smart devices, the company said Sunday. The movable air conditioner is designed to target households that frequently move in and out and those who have difficulty installing outdoor condensers. The AC is equipped with a dual inverter compressor with two cylinders, increasing cooling and energy saving capabilities. The portable model uses up to 29 percent less electricity

Miniature models of Hyundai Motor Group’s future mobility solutions, such as urban air mobility, purpose-built vehicles and hubs are displayed at the automaker’s headquarters in Yangjae-dong, Seoul.  Models are one-eighth scale and installed over 107 square meters of the building.  In January, Hyundai Motor Group’s Executive Vice Chairman Chung Euisun unveiled its future mobility vision at the Consumer Electronics Show to shift itself from an automobile manufacture

The country’s main gateway operator, Incheon International Airport Corp., said Sunday that it would offer 50 billion won ($40 million) worth of aid to cash-strapped local airliners suffering the economic impact of COVID-19. IIAC said it had met Friday with officials from seven air carriers -- Korean Air, Asiana Airlines, Air Busan, Air Seoul, Jeju Air, Jin Air and T’way -- to introduce its new incentive programs and cooperative measures for airliners. For air carriers, IIAC said i

Korean telecommunications firm KT will research for epidemic preparedness solutions, backed with 12 billion won ($9.7 million) in funding from the Bill & Melinda Gates Foundation. KT said Sunday that the philanthropic foundation had wished for an epidemics monitoring study carried out in Korea -- a country of widespread smartphone penetration equipped with 5G infrastructure. The research, called “A Next Generation Surveillance Study for Epidemic Preparedness,” will seek to dev

Increasing number of Koreans seek anti-hair loss treatments despite pitfalls

South Korea's nuclear safety watchdog said Friday that it will enforce more stringent personnel training and material handling rules to better guard against potential radiation accidents. The Nuclear Safety and Security Commission said it has decided to revise the existing nuclear safety act in the wake of the accident that occurred at Seoul Semiconductor in July 2019. The accident at the light emitting diode (LED) manufacturing company involved inadequately trained subcontract workers who di

Doosan Heavy Industries, South Korea's top power equipment maker, said Friday that it swung to a net loss in the first quarter from a year earlier due to increased one-off costs. For the January-March period, Doosan Heavy posted a net loss of 371.4 billion won (US$302 million), shifting from a net profit of 52.8 billion won a year earlier, the company said in a statement. The company said the net loss is mainly blamed on severance payments and losses from equity ties with Doosan Bobcat Co. D

SsangYong Motor reported on Friday that its net loss sharply widened in the first quarter compared to a year earlier, marking the 13th consecutive quarter in the red, amid growing worries over the coronavirus outbreak. Net losses for the January-March quarter deepened to 193.54 billion won ($157 million) from 26.12 billion won in the year-ago period, the company said in a statement. "Disrupted production by the coronavirus outbreak and weaker sales amid virus fears cut into the bottom

All South Korean airlines -- both major and low-cost -- have posted quarterly losses as the pandemic dampened travel demand and slashed flight numbers. The nation’s largest airline, Korean Air, has turned into a deficit in three quarters. It posted an operating loss of 56.6 billion won ($45.9 million) in the January-March period according to the firm’s regulatory filing Friday. Its sales reached 2.3 trillion won, down 22.7 percent from the same period last year. Its passenger bus

Korea Electric Power Corp. said Friday that it recorded 430.6 billion won ($350.1 million) in operating profit in the first quarter this year, swinging back into the black in three years. The state-run utility witnessed 430.6 billion won in operating profit, a 1-trillion-won increase on-year from an operating loss of 629.9 billion won thanks due to a sharp fall in oil prices. “Thanks to the global fall in fuel prices, Kepco’s expenses spent for fuel and electricity purchases dec

Korean Air announced Friday it will make it mandatory for domestic passengers to wear masks from Monday to follow the government’s social distancing guidelines amid the pandemic. Passengers using Korean Air’s domestic flights must wear masks or appropriate face shields not only on board but also during the pre-flight process. Exceptions are made for infants under 24 months old, people who are difficult to remove their masks on their own and people who are unable to breathe when we