SK Innovation Co., South Korea's leading refiner, will boost investment in its electric vehicle battery and materials business, a top executive has said. SK Innovation CEO and President Kim Jun made the comments in an interview with the company's in-house news channel that was provided to employees Wednesday as the company strives to strengthen its battery and materials businesses. Kim did not provide any further details on proposed investments. SK Innovation is South Korea's top oil refiner

Samsung Electronics Co. was the No. 2 player in the global 5G smartphone market last year in terms of shipments, industry data showed Wednesday, as the South Korean tech giant faces tough challenges from Chinese rivals. Samsung had a 35.8 percent share in the global 5G smartphone market last year, with shipments of 6.7 million 5G smartphones worldwide, according to data from market researcher Strategy Analytics. Chinese tech titan Huawei ranked first by shipping 6.9 million 5G smartphones for

Kumho Tire Co., the South Korean unit of Chinese tiremaker Qingdao Doublestar Co., said Wednesday it began to supply tires to the Audi Q5 SUV. Kumho Tire began to deliver the high-performance Crugen Premium KL33 tires for the Q5 in early January, the company said in a statement. The cars are being manufactured at Audi's Mexico plant and the tires will be produced in Kumho Tire's plant in Georgia, the United States, in the form of original equipment tires, it said. Supplying OE tires to car

Samyang Foods, the manufacturer of the globally popular Buldak Spicy Chicken noodles, saw its revenue from overseas surpass domestic sales last year, industry sources said Tuesday. Last year, Samyang Foods recorded total sales of 535 billion won ($455 million), and exports surpassed domestic sales by 5 billion won. It is the second time a South Korean food manufacturer has sold more of its products overseas than in the domestic market, the first being Choco Pie from Orion Corp. The food m

The Korea Communications Commission is stepping up its efforts to monitor online posts concerning the new Wuhan coronavirus, to counter rapidly spreading falsehoods that could mislead the public.  The agency said late Monday that it was focusing on preventing false information about the virus from spreading online. The existence of a fourth coronavirus patient has been confirmed in South Korea, with 15 suspected cases under investigation. KCC Chairman Han Sang-hyuk visited local broadca

Amid rumors that the next edition of Galaxy Fold will feature a bigger screen and S Pen, speculations that it could replace the 10-year-old Galaxy Note series are gaining ground, according to industry sources Tuesday. Responding to news reports based on a recent tweet that the Galaxy Fold 2 will feature an 8-inch main display, ultrathin glass and S Pen support, parts suppliers here said they are preparing for mass production of the device scheduled for the second half of the year. However, t

South Korean aviation and travel industries have been hit hard by refunds and cancellations in response to the new Chinese coronavirus outbreak, according to the industry on Tuesday. Several airlines have suspended the operation of routes to China and fully refunded customers for reservations, without applying the usual surcharge.  The travel authorities and related businesses have also strengthened hygiene guidelines for their employees, such as obligating all cabin crew on flights and

Land prices across South Korea surged by 3.92 percent last year from 2018, according to the Ministry of Land, Infrastructure and Transport. The growth in land prices dropped by 0.66 percentage point from 4.58 percent in 2018. In 2019, the price hike in the capital and surrounding region dropped to 4.74 percent from 5.14 percent, and in provinces, to 2.51 percent from 3.65 percent a year ago. (khnews@heraldcorp.com)

In a study of early cases of the Wuhan coronavirus (2019-nCoV), a team of Chinese scientists discussed potential treatments for the rapidly spreading illness. In the latest issue of the Lancet medical journal, the scientists looked at key features of the virus and its effects in the first 41 confirmed patients. As the 2019-nCoV is an emerging virus, there is no vaccine or clear treatment specifically targeted to cure it. However, as all 41 patients developed pneumonia, they were all given anti

Semiconductors continued to top the list of South Korea's largest export items last year, data showed Tuesday. Outbound shipments of semiconductors came to $93.9 billion in 2019, accounting for 17.3 percent of the country's overall exports of $542.3 billion, according to the data from the Korea Customs Service. The amount marks a 25.9 percent plunge from 2018, when semiconductors accounted for nearly one-quarter of South Korea's overall exports. The drop has largely been attributed to a shar

Major South Korean companies are scrambling to minimize any possible fallout from the Wuhan coronavirus by pulling their staff out of China and curbing trips there, industry sources said Tuesday. Hyundai Motor Co. and its affiliate Kia Motors Corp. plan to evacuate family members of hundreds of their employees in China to South Korea by Wednesday while allowing the employees in China to work at their homes, a Hyundai Motor official said. The move is meant to minimize contact with people as th

The number of South Korean institutions that have embraced shareholder activism by adopting the stewardship code surged last year, raising tensions for companies ahead of their general shareholders meetings in March. The stewardship code sets forth guidelines for institutional investors, allowing them to participate actively in corporate governance by exercising their voting rights in the interests of their beneficiaries.  The code was introduced in December 2016. The National Pension S

Samsung SDS, an information and communication technology service arm of Samsung Electronics, has seen its brand value grow to 4.3 trillion won ($3.7 billion), a 6.5 percent increase compared to that of last year, the company said Monday.    In the latest edition of Brand Finance on IT companies, Samsung SDS was ranked 11th most valuable brand. The Samsung affiliate was the one of only two brands that rose in the IT service ranking, the company added. Samsung SDS recorded year-over-

　Sales of South Korean mobile games rose 5.2 percent on-year to surpass 4.2 trillion won ($3.6 billion) last year, industry data showed. 　According to the data from mobile big data platform IGAWorks, combined sales at three app markets - Google’s Play Store for Android devices, Apple’s App Store for iPhones, and ONE store - came to 4.29 trillion won in 2019. 　NCSoft had the biggest market share with 21.5 percent, followed by Netmarble with 11.7 percent and Nexon with 5.1 perce

Samsung Electronics said Monday its Vice Chairman and heir Lee Jae-yong flew to Brazil during the Lunar New Year holidays as part of efforts to check on the Korean tech giant’s major businesses in the Latin American market. Lee visited the production facilities for smartphones, TVs and other home appliances located in the free trade zone of Manaus, Amazonas, in the north of Brazil. The zone is home to around 500 global businesses. Brazil is the biggest economy in Latin America. For Sa