The ongoing coronavirus outbreak has created a new demand for global shared workspace provider WeWork in Korea, despite initial fears the outbreak would spook potential customers. WeWork, which currently operates 19 locations in Korea, told The Korea Herald on Thursday that Korean companies mindful of the COVID-19 epidemic are reaching out to WeWork for an alternative workspace. “Companies of all sizes and industries in the region -- members and nonmembers - have been reaching

Deutsche Telekom, the parent company of T-mobile, will start testing the 5G radio frequency repeater that it co-developed with SK Telecom during the second quarter of this year, according to a statement released by the South Korean mobile carrier on Thursday. SK Telecom’s 5G radio frequency repeater is a wireless device that receives 5G signals from outside and transmits it to users inside buildings and tunnels and on basement floors. In the second quarter of this year, Deutsche Telekom

Hanwha Galleria said Thursday it will open Galleria Gwanggyo in Suwon, Gyeonggi Province, on Monday, making it the first new department store to open in 10 years and the biggest among the five franchises it operates. According to the company, the store will be located in the Suwon Gwanggyo Convention Complex area, and it will present the best lineup of luxury brands in the Gyeonggi Province area. Galleria Gwanggyo will be the biggest department store for the company, with its building takin

Starbucks Korea will roll out a new set of goods -- a mug, tumbler and card -- designed with mugunghwa, or hibiscus, to celebrate the March 1st Independence Movement Day, the company said on Thursday. The company said it will donate 100 million won ($82,200) from the profit made to the descendants of independence fighters. (herim@heraldcorp.com)

Daily users, more affected by weather, remain unchanged: Firms up disinfection of vehicles

Hypermarkets increase delivery capacities, use of apps related to public transport drop

Large firms, building owners volunteer to share burden as vendors suffer, Finance Ministry pledges to reimburse

Korean internet and search giant Naver said it will grant stock options to its employees to purchase up to a total of 1.06 million stocks, the company said in its regulatory filing issued Wednesday late afternoon. The stocks that will go to the company’s employees account for 0.65 percent of Naver’s stocks, the company added. The stocks will be provided to 3,084 workers at a price of 186,000 ($153) won per share. The options are exercisable for a period of five years starting in

Komipharm stocks hit the ceiling on Korea’s secondary bourse Kosdaq early Thursday, after the company said it applied for phase 2 and 3 clinical trials of its Panaphix drug for coronavirus as a potential treatment. The company said it will issue further notice if it gains the Ministry of Food and Drug Safety’s approval for final phase clinical trials targeting 100 coronavirus-confirmed patients. Investors should be aware that the possibility of any drug winning final commercializat

Samsung Display said Thursday its organic light-emitting diode panels for 5G smartphones have been certified as energy-saving and eye-care displays by multiple international organizations. The company is a major supplier for the latest Galaxy S20 series. SGS, a Switzerland-based certification institute, said Samsung’s latest OLED display for smartphones emit 6.5 percent blue light, the lowest percentage among comparable products. As of last year, other firms’ OLED products produ

KT&G said Thursday it signed a 2.2 trillion won ($1.8 billion) contract with Dubai-based consumer giant Alokozay for a period of seven years and four months. This is the South Korean tobacco company’s second global collaboration this year following the supply deal signed with Philip Morris International on Jan. 29 to export the firm’s e-cigarettes globally for the next three years. KT&G said through the deal, it “cleared uncertainties in major overseas markets,

Hanjin KAL, the holding company of airline-to-logistics conglomerate Hanjin Group, said Thursday it was looking to sell its non-core hotel assets to improve its financial health and shareholder value.  Hanjin KAL said invitations to bid for the assets had been sent to 12 firms including real estate consulting firms, accounting firms and asset management firms.  On Feb. 7, the company decided during the board meeting to sell assets related to its loss-making leisure and hotel busines

Samsung Electronics Co. on Thursday unveiled two new smartwatch models in South Korea in a move to expand its presence in the wearable device market. The Galaxy Watch Active2 Golf Edition and the Galaxy Watch Active2 LTE Aluminum models will be launched in South Korea on Friday, according to Samsung. The South Korean tech giant said that the golf edition will be available in the United States and Britain, while the LTE Aluminum version will be also sold in Europe and some Asian countries.

LG Uplus Corp., a major South Korean telecommunication firm, said Thursday it has signed a partnership with leading companies in the augmented reality (AR) sector to provide better services with its 5G network. LG Uplus said it has joined hands with AR software startup Spatial Systems Inc., mobile AR headset maker Nreal and mobile chipmaker Qualcomm Technologies Inc. to develop 5G-based AR collaboration solutions. Japanese telecom giant KDDI Corp. and Germany's Deutsche Telekom AG are also

Hyundai Mobis Co., South Korea's biggest auto parts maker, said Thursday it aims to make inroads into the global head-up display market. The global HUD market has been dominated by multinational auto parts companies such as Continental AG, Denso and Nippon Seiki Co. "The company is aiming to sign contracts with global carmakers to sell its HUD products and foster HUD products to become a major export item," Hyundai Mobis said in a statement. Hyundai Mobis recently started to supp