Hyundai Motor Group Executive Vice Chairman Chung Euisun has resigned as an inside executive director of the group’s steel affiliate, Hyundai Steel, the company said Wednesday.  Chung aims to focus on the group’s core automotive business as the group seeks to transform itself into a smart mobility solutions provider, according to the company.  Chung served in his executive role at Hyundai Steel since 2012 but rarely made an appearance at its executive directors’ me

Celltrion’s autoimmune disease treatment Remsima SC was approved to treat rheumatoid arthritis in South Korea, the company announced Wednesday. Remsima SC is a biobetter of Johnson & Johnson’s Remicade (infliximab), and is the world’s first subcutaenously injectable form of infliximab that comes in a prefilled syringe called an autoinjector. However, while intravenous Remsima is authorized for treatment of psoriatic arthritis, ankylosing spondylitis, ulcerative colitis,

Incheon International Airport Corp. began taking bids for existing airport duty-free operations on Wednesday, accepting proposals from 10 a.m. to 4 p.m., industry sources said Wednesday. Eight duty-free operators including Shilla, Lotte, Shinsegae and midsized operators like SM which currently operate business over 11,645 square meters in the duty-free zone need to submit proposals including the bid price, if they wish to continue to operate. Their contracts end in August.  Beyond the bi

WASHINGTON -- United Airlines on Tuesday extended its window for travelers wishing to change their South Korea-bound flights without paying a fee, as the number of coronavirus cases in the country continued to climb. The US airline said on its website that passengers originally booked on flights departing from Feb. 24 to June 30 can switch to another flight within the same window, and between the same cities, without paying the change fee or any difference in fare. On Monday the airline had s

South Korea-based internet-of-things firms posted revenue of over 10 trillion won in 2019, up 16.2 percent on-year, according to the ICT Ministry on Tuesday. This is the first time for IoT companies have crossed the revenue milestone since the ministry began collecting relevant figures in 2014. Domestic sales accounted for 89 percent with 9.7 trillion won. Exports accounted for the remaining 1.2 trillion won. Exports have shown an average annual increase of 46.3 percent from 2015-19, the min

Nexon Korea said Tuesday it has donated 2 billion won ($1.6 million) to Korean Red Cross for crisis management amid ongoing COVID-19 spread. Its subsidiary Neople has also joined the effort. The donation will be used to prevent the further spread of COVID-19 infections, through emergency medical and relief aid. Nexon allocated 500 million won from the donation for Jeju Island, where the Neople headquarters is located. KRC President Park Kyung-seo expressed his gratitude to Nexon and pledg

Consumer sentiment in South Korea has dropped noticeably since the outbreak of COVID-19, according to data released by the Bank of Korea on Tuesday. The index, however, was calculated before the rapid increase in the number of infections here, meaning sentiment has probably fallen lower since then. The consumer composite sentiment index totaled 96.9 in February, down 7.3 points from a month ago. A similar drop was seen in June 2015, when Middle East respiratory syndrome was in the news. The s

KogeneBiotech, Seegene and PCL produce real-time PCR test kits that can detect infections in six hours

South Korean airlines said Tuesday they will extend flight suspensions to China and halt more flights on international routes due to the growing impact of the fast-spreading coronavirus outbreak. With no end in sight for the COVID-19 outbreak in the country, Korean Air Lines Co., South Korea's biggest airline by sales, on Tuesday extended flight suspensions to China by one month through April 25. Korean Air served 204 flights per week on 30 routes to China before the new coronavirus hit the

Samsung, SK, LG, SK, KT, CJ, Kakao allow flexible working hours, remote work　

Phillip Morris Korea said Tuesday that it had appointed Paik Young-jay, formerly global director of Google Korea, as its new managing director. Paik, who has a doctorate in cultural anthropology from Yale University, has worked in various industrial sectors over the past 20 years, according to the company. He started his career at McKinsey & Company Korea in 2000 and joined South Korea’s CJ Group in 2003. He also led Blizzard Entertainment Korea as country managing director from 2011

The South Korean government has decided to restrict the export of face masks until April 30, amid concerns that supplies are running short as COVID-19 spreads nationwide.  Manufacturers will be allowed to export up to 10 percent of the masks they produce each day.  The Ministry of Food and Drug Safety said Tuesday that the measure is authorized under Article 6 of the Price Stabilization Act, which stipulates that regulations can be adjusted in emergency situations. Mask manufacture

Kumho Tire said Tuesday three of its products had won 2019 Good Design Awards in the transportation design category.  The Good Design Awards is a global design competition which began in 1950, awarded by the Chicago Athenaeum Museum of Architecture and Design for the most innovative and cutting-edge industrial products and graphic designs of the year.  The Korean tire manufacturer said its tires Majesty 9, Ecsta PA51 and WinterCraft Wi51 have won the awards.  Majesty 9 is a ne

Samsung Electronics Co. retained the top spot in the domestic smartphone market in the fourth quarter of last year, but its market share fell sharply as its archrival Apple Inc. doubled its presence in South Korea, data showed Tuesday. Samsung had a 57 percent market share on its home turf in the last three months of 2019, down 14 percentage points from three months earlier, according to market researcher Counterpoint Research. Apple was the No. 2 player with a 28 percent share in the fourth

Huawei unveiled its second foldable smartphone, the Mate Xs, in Barcelona, Spain, Monday, in an online broadcast to prevent spreading the new coronavirus that causes COVID-19. The out-folding Mate Xs has a display the same size as that of its predecessor -- 8 inches diagonally when unfolded -- but features an improved hinge mechanism, called a “falcon-wing hinge,” and a stronger wraparound screen. Huawei’s mobile business head, Richard Yu, said during the launch presentati