(AP) -- Boeing Co. said Monday that it will temporarily stop producing its grounded 737 Max jet starting in January as it struggles to get approval from regulators to put the plane back in the air.The Chicago-based company said production would halt at its plant with 12,000 employees in Renton, Washington, near Seattle. But it said it didn't expect to lay off any workers "at this time."The move amounts to an acknowledgement that it will take much longer than Boeing expected to win appr

LG CNS Co., an IT service subsidiary of South Korea's LG Group, on Tuesday unveiled a real-time system verification solution that utilizes actual transaction data. LG CNS claimed PerfecTwin is the world's first IT system verification tool that conducts tests entirely with actual transaction data. After capturing data from an existing system, the tool automatically applies data on a new system and runs tests to detect errors, allowing engineers to compare and verify system in real-time, according

South Korean airlines will freeze their fuel surcharges on international routes in January because there has been no change in jet fuel prices, industry sources said Tuesday.The surcharges for one-way tickets on long-haul international routes will be capped at 34,800 won ($30) next month, almost unchanged from December.If the average jet fuel price on the Singapore spot market rises over $1.50 per gallon, local airlines are allowed to impose fuel surcharges, starting one month later.Jet fuel pri

South Korea's Cabinet approved a motion on Tuesday that centers on nurturing industries for eco-friendly vessels to better deal with tightened international regulations and reduce emissions of fine dust.The trade ministry said it would roll out a set of measures to speed up the development and supply of such ships using an array of resources ranging from liquefied natural gas, methanol, to hydrogen.The country will gradually replace 140 state-owned ships with those utilizing clean energy sources

　The number of pay TV subscribers in South Korea reached 33 million in the first six months of the year - up 540,000, or 1.67 percent, from the second half of last year - data from the Ministry of Science and ICT showed.　The figure includes paid subscriptions to system operators, satellite broadcasting services and internet protocol television service providers.　Fixed-line and telecom operator KT had the largest market share, over 21.4 percent, with just under 7.1 million subscribers. SK Broadba

The Korean drug safety authority said Monday that it is directly reviewing products containing metformin, the Type 2 diabetes treatment whose commercialized variants in Singapore have been tested to contain an unacceptable level of a cancer-causing impurity. This impurity, called N-nitrosodimethylamine, or NDMA, was found in three out of 46 metformin finished products sold in Singapore. Singapore’s Health Sciences Authority recalled the products. Metformin is widely used to treat Type 2 di

The freshly revamped Sonata by Hyundai Motor was named the best sedan at a motor show held in Saudi Arabia last week, raising prospects for its sales performance in the Middle East.In a vote by a group of auto journalists in the country Sonata won high scores in overall categories that examined the sedan’s design, safety technology and entertainment features, the company said. The result came amid the carmaker expanding its presence in the region’s largest auto market of 400,000-500,

South Korea's major exporters such as shipbuilders and chipmakers are likely to see their business performances improve next year as eased uncertainties over the Sino-American trade dispute help jack up demand overseas, analysts said on Monday.Last week, the United States and China announced a much-awaited phase-one deal for their protracted trade war, which has weighed heavily on the global economy since early 2018, although details have not yet been unveiled and there are still lingering uncer

Korean companies step up overseas push

With home meal replacement products gaining popularity in South Korea, the instant porridge market has also grown immensely -- twofold growth since 2015, and is estimated at over 88.5 billion won ($75.5 million) last year, according to data from Korea Agro-Fisheries & Food Trade Corp. Monday. The market for instant porridge has gradually expanded from 2015, when it was valued at 41 billion won, and grew to over 70.7 billion won in 2017, the data showed. Officials said that it will grow

Celltrion, South Korea’s leading biosimilar manufacturer, announced Monday that it has acquired rights to a total of 11 generic chemical drugs in the US, the world’s biggest pharmaceutical market.The company has since early 2019 been pushing to expand its business portfolio to cover not only copies of patent-expired biologics drugs, but also generic copies of chemical drugs. Its subsidiary, Celltrion USA, has bought the rights for nine other generic copy drugs, other than the existin

South Korea and Japan started high-level talks in Tokyo on Monday as the first step to seek a breakthrough in settling their monthslong trade row that undermines bilateral economic ties and potentially disturbs international supply chains.The meeting marks the first of its kind since June 2016 and is crucial for dealing with their trade conflict. It is also the first official gathering of trade officials between the two Asian neighbors after Seoul conditionally suspended the termination of the G

South Korea's display panel makers are expected to see improved earnings next year, with liquid crystal display panel prices likely to rebound and the companies' organic light-emitting diode display production capacity set to expand, analysts here said Monday. South Korea's two major display makers -- LG Display Co. and Samsung Display Co. -- have been struggling to make a profit this year due to falling LCD panel prices stemming from sluggish demand and a supply glut.LG Display posted an operat

South Korea's finance ministry said Monday it established a task force to consider a digital tax on advertising by global internet giants like Google and Facebook.The task force is manned by officials from the ministry as well as experts on the international tax system, according to the Ministry of Economy and Finance. The task force will join international discussions on the digital tax and map out South Korea's measures to levy the tax, according to the statement. South Korea has taken st

Visiting traditional brick-and-mortar stores for furnishing shopping still remains mainstream as consumers tend to prefer a tactile experience when purchasing big furniture.As an increasing number of people are making purchases using the internet and mobile devices, furniture retailers have beefed up their e-commerce businesses so that customers can enjoy seamless experiences online and offline.According to data by Statistics Korea, an accumulated 2.45 trillion won ($2.06 billion) worth of purch