KT, one of South Korea’s leading mobile carriers, said Tuesday it is preparing solutions to support the artificial intelligence-driven transformation of ASEAN countries based on its high-tech capabilities. The company is currently working to build AI-enabled hotels in various Southeast Asian countries including the Philippines, Malaysia, Thailand and Vietnam. It also plans to introduce 5G AI factory and autonomous driving solutions that will facilitate the region’s transformation. KT

LG Group said Tuesday it will invest 20 billion won ($17 million) in SoftBank's venture fund focused on artificial intelligence startups. Four affiliates of LG Group -- LG Electronics Inc., LG Chem Inc., LG Uplus Corp. and LG CNS Co. -- will jointly raise 20 billion won ($17 million) for Softbank Ventures' early-stage AI fund of 320 billion won, LG said.   The investment in the Japanese tech giant's venture unit is part of the Korean conglomerate's broader plan to develop advanced AI t

BUSAN -- Leaders of South Korea and ASEAN countries have joined hands to foster the growth of startups at an event held Tuesday on the sidelines of the ASEAN-ROK Commemorative Summit. Hosted by the Ministry of SMEs and Startups, the ASEAN-ROK Startup Summit took place in Busan to enhance cooperation among startups of Korea and ASEAN. The event was attended by representatives from 40 ASEAN startups participating in a Korean incubation program.President Moon Jae-in said in a speech, “Korea w

BUSAN -- South Korea’s popular business card app provider Drama & Company is seeking to make its mobile platform an “Asian version of LinkedIn” by deploying localized knowledge and sentiments. “Relatively, LinkedIn does not work as well in Asia as in the West. Asians are more reluctant to post their resumes in an open space,” said Drama & Company CEO Choi Jae-ho in a brief interview with The Korea Herald at the ASEAN-ROK Startup Summit held in Busan on Tuesd

Novel epilepsy drug to reach Korean market at later time

British American Tobacco Korea on Tuesday launched Glo Pro that uses an induction heating technology, which is also widely used in kitchens. According to the tobacco maker, Glo Pro contains a battery-powered coil which creates a magnetic field. The heat is generated in the metal tube that holds the tobacco stick called Neo. The technology delivers more robust tobacco taste and faster heating time for the first puff, BAT Korea said. It is also heated at a higher temperature than th

Hyundai Glovis said Tuesday it has been conducting a wide range of corporate social responsibility programs to promote driving safety.The logistics unit of Hyundai Motor Group has been running a program for driving safety since 2015, which includes handing out a safety product kit for drivers. It highlights the company’s value in safety as a leading logistics firm, it said.The company has handed out some 11,000 safety kits for drivers by visiting expressway rest stations in collaboration w

Celltrion said Tuesday its infliximab biobetter Remsima SC has received the European Medicines Agency’s approval for sales in the continent. Remsima SC’s main target patients are those who are resistant to original TNF-a inhibitors such as Humira (adalimumab) and Enbrel (etanercept).  While infliximab currently takes up only 9 percent of the rheumatoid arthritis treatment market, the rate of patients who are prescribed a different medication -- apart from adalimumab and etanerce

When 93-year-old Korean pharmaceutical firm Yuhan signed a collaboration deal with Johnson & Johnson’s subsidiary Janssen a year ago, it excited bio investors here and abroad. The transaction, reaching up to 1.4 trillion won ($1.19 billion), was the second biggest in the history of Korean biopharma research and development at the time. Janssen was interested in Yuhan’s lazertinib pipeline for third-generation lung cancer. Since then, Gilead signed a deal worth 878 billion won to

BUSAN -- SK Telecom CEO Park Jung-ho said Monday he envisioned a Thai version of “Dae Jang Geum,” also known as “Jewel in the Palace,” a hit Korean drama that drew fans across Asia, as one idea for cultural content investment in Southeast Asia. When asked whether SKT planned to expand investment in Southeast Asia at a gala dinner hosted by President Moon Jae-in for ASEAN leaders on Monday evening, CEO Park said, “I think it would be entertaining to make new bus

South Korea's transport ministry said Monday it has completed checkups on the country's 151 B737-NG planes for structural cracks, while aiming to finish the repair and replacement work on 13 faulty planes by January.The Ministry of Land, Infrastructure and Transport discovered structural cracks on 13 B737-NG planes and immediately grounded them. A team of Boeing engineers flew to Seoul on Oct. 31 to help fix the problems.The 13 planes include five from Korean Air Lines Co., three from Jin Air Co

Belgian brewing giant Anheuser-Busch InBev has named a new chief executive for its South Korean operations, Oriental Brewery Co. said Monday.Ben Verhaert, president of AB InBev's South Asian operations, will be replacing OB CEO Bruno Cosentino who will move to the Belgian beverage firm's African operations as chief marketing officer, OB said in a statement. He will start in the new post in January,Verhaert, 41, a native of Belgium, has built up his career mainly in the sales and logistics fields

SK Telecom CEO Park Jung-ho on Monday proposed a technology-driven entertainment project for growth of Asia’s culture and economy at the Culture Innovation Summit during the ASEAN-Korea Summit in Busan. The head of Korea’s No. 1 telecom company suggested creating an association for the content industry across Asia, which he named “TEAM” to stand for “tech-driven entertainment for Asian movement.” “Korea is the third-largest content exporter after the Uni

BUSAN -- Forty-five South Korean companies exhibited and demonstrated their new technologies related to the “fourth industrial revolution,” from green cars to smart factory solutions, in a bid to create more business opportunities in the fast-growing ASEAN markets. Officials from the government, companies and their potential partners and clients gathered at Bexco for the ASEAN-ROK Innovation Showcase 2019, which was held on the sidelines of the 2019 ASEAN-ROK Commemorative Summit, in

Malaysian Prime Minister Mahathir bin Mohamad visited the production site of South Korea’s sole aircraft manufacturer Korea Aerospace Industries during his trip for the ASEAN-ROK Commemorative Summit in Busan, the company said Monday. He was briefed on the light attack aircraft FA-50, basic trainer KT-1 and Surion helicopter KUH-1.“We have come to trust KAI more after seeing the production facilities and hope to continue our partnership,” Mohamad said.  KAI pitched the lig