Experts call for government push to expedite vaccine development

South Korea’s health care solutions developer MiCo BioMed claimed Wednesday it has developed a rapid molecular diagnostic system to detect the novel coronavirus with high sensitivity within an hour. The Konex-listed company founded in 2009 said the system can immediately confirm the novel coronavirus (2019-nCoV) to be used at airport and port quarantine sites beyond health care centers. The company developed 30 different kinds of high-risk pathogen diagnostic kits with the Korean Cente

Fluorescent reflective cloaks and school bag covers are showcased at Lotte Mart’s Seoul Station branch in Jung-gu, central Seoul, on Wednesday.  The number 30 signifies the 30-kilometer-per-hour maximum travel speed limit in all school zones.  The products will be available at 110 branches nationwide from Thursday.  (khnews@heraldcorp.com)

Samsung Electronics Co. ranked behind Apple Inc. in the global tablet market last year in terms of shipments, industry data showed Wednesday, as the South Korean tech giant faces tough challenges from its US and Chinese rivals. Samsung had a 13.6-percent share of the global tablet market last year, with shipments of 21.8 million tablets worldwide, according to data from market researcher Strategy Analytics. US tech titan Apple Inc. ranked first by shipping 44.3 million tablets for a 27.7-per

Sales of imported cars in South Korea fell 3.1 percent in January from a year earlier due to lower demand for Japanese brands amid trade tensions between Seoul and Tokyo, an industry association said Wednesday. The number of newly registered foreign vehicles fell to 17,640 units last month from 18,198 in January 2019, according to the Korea Automobile Importers & Distributors Association. "Local consumer sentiment against Japanese products continued to affect overall imported vehicle

Kia Motors Corp., South Korea's second-largest carmaker by sales, said Wednesday it will launch its entry-level sport utility vehicle Sonet in India later this year. Kia unveiled the Sonet concept at the New Delhi Auto Expo, which runs Feb. 5-12. On Wednesday, it launched the localized Carnival multipurpose vehicle in the Indian market, the company said in a statement. The maker of the K5 sedan and the Sorento SUV aims to sell 300,000 vehicles in India in 2022. This year, it has a target of

China-made wiring harnesses have been kept in small stocks for efficiency

Other Korean companies looking at ways to address safety concerns

South Korea’s antitrust watchdog on Wednesday fined retailers Shinsegae and Woori Home Shopping 2.5 million won ($2,100) each for violating e-commerce laws. The Fair Trade Commission said the two firms were fined for their “nonrefundable stickers” that restricted the right of consumers to return a purchase and get a full refund if they open the package. The agency noted that Shinsegae posted a sticker on products -- sold on online shopping platform 11th Avenue from April

Ben Verhaert, CEO of the South Korea-based Oriental Brewery, has chosen a new Korean name to foster friendly communication with his Korean employees and customers, the company said Wednesday. The Belgian national now goes by Bae Ha-jun. The CEO took up his current post in November last year. Belgian brewing giant Anheuser-Busch InBev acquired OB in 2014. The name Ha-jun consists of the Chinese characters “ha,” referring to water, and “jun,” meaning height, the company

Samsung Electronics set a record in 2019 by commanding 20.5 percent of the home appliances market in the United States, whose $25.8 billion electronics market is the world’s biggest, according to data from Reed Electronics. The Korean tech giant has maintained the top spot for four consecutive years, said US market researcher TraQline. Next on the list were Whirlpool and LG Electronics. Samsung recorded its highest quarterly market share figure ever, 21.6 percent, in the fourth quarter

The National Pension Service has exercised its shareholder rights more actively since it adopted the stewardship code in 2018, said a local corporate tracker. On Wednesday, CEO Score released the results of a survey of 577 companies in which the NPS held shares and exercised its voting rights at shareholders meetings last year. It found that the NPS voted against initiatives proposed by companies 16.48 percent of the time, up from 11.85 percent a year earlier. The rate at which it approved

The spread of coronavirus in China is likely to push up prices of semiconductors and display panels, analysts said Wednesday, amid possible supply chain disruptions of key industrial materials. China, where the outbreak originated, is home to manufacturing facilities of many of South Korea's major tech firms, including Samsung Electronics Co. and SK hynix Inc. The companies said they are trying to keep their plants in China running amid the spread of the deadly coronavirus, while setting up c

Renault Samsung Motors is bolstering its customer service capabilities to up its game in the Korean auto market despite aggravated market conditions. The carmaker said Wednesday it has become the first among domestic brands to have recently introduced the “RSM Service Menu,” a customer service program where customers can learn about a total expense prior to service. Based on that information, customers can decide which service to receive without having to worry about bills later.

A deadly new coronavirus has prompted South Korean airlines to suspend more than half of their flight services to China, industry sources said Tuesday. As of Tuesday, industry leader Korean Air Lines Co. and seven other carriers have temporarily suspended 57 out of their 100 routes to the neighboring country due to the coronavirus scare. The airlines have also decided to reduce flights on 24 routes to Chinese cities, including the capital Beijing. Korean Air, the country‘s national fla