Two film distributing powerhouses, CJ ENM and Walt Disney Company Korea, were neck-and-neck at the South Korean box office in the first 10 months of this year, data showed Friday.In January to October, CJ ENM, an entertainment unit of CJ Group, distributed 13 films, garnering 45.4 million admissions and taking up 24.5 percent of the total tickets sold.Walt Disney Company Korea, the local unit of the U.S.-based media titan, also managed 13 movies, which attracted 45.2 million moviegoers with a ma

Samsung Electronics Co.'s share in the Japanese smartphone market nearly tripled in the third quarter from a year earlier thanks to robust sales of new models, industry data showed Monday. The Korean tech giant shipped about 500,000 smartphones in Japan in the July-September period to take up 6.7 percent of the country's smartphone market, according to the data compiled by Strategy Analytics.  The third-quarter figure was sharply up from 2.4 percent from a year ago, while slipping from the

BUSAN -- Korea’s annual game exhibition G-Star 2019 kicked off Thursday with a record number of participants at Bexco in Busan.The event had 3,208 booths representing 691 companies from 36 countries, the biggest so far for the 15-year-old industry showcase and an 8.2 percent growth from a year earlier, the organizers said. G-Star runs through Sunday, at two halls respectively holding business-to-consumer and business-to-business booths.On the sidelines of the exhibit are G-Con game co

Hilmar Petursson ‘proud’ as he launches Eve Online in Korea

South Korea's industry minister said Thursday that the government will increase its budget to support the local display-making sector next year in a move to keep the country's leading position in the key industrial segment.Sung Yun-mo, minister of trade, industry and energy, said the budget hike is meant, among other things, to support the development of next-generation technologies and their performance evaluation of smaller display manufacturers. He did not provide details on the proposed budg

Amid the tough business environment and deteriorating trade situation following worldwide conflicts, South Korea should expedite the development of knowledge-based assets and increase independence in related technologies to compete globally, according to the intellectual property office chief. “Advanced countries have been bolstering their industry dominance based on knowledge-based assets. Especially, a growing number of foreign companies have been preoccupying patents that are close

Pressure is mounting on the Moon Jae-in administration and the National Assembly to tweak the mandatory 52-hour workweek regulation for companies, especially by small and medium-sized companies which are “not yet ready” to embrace it. From January next year, companies with less than 300 employees will have to abide by the new workweek regulation. Large firms with more than 300 workers have been following the rule since July 2018. If a company violates it, the employer can face up to

Naver Corp., South Korea's No. 1 internet portal, said Thursday that its Japanese chat app Line and internet portal Yahoo Japan have been in talks for a potential merger in a move that could form Japan's largest internet platform.Naver, which holds a 73 percent stake in Line, said it and Japanese telecom giant Softbank, which owns 45 percent of Yahoo's parent company Z Holdings, have been discussing a merger deal."Line has been considering various proposals to boost business competitiveness

In the latest development of dispute between two South Korean battery makers, LG Chem said Thursday it had requested court intervention by the US International Trade Commission, alleging that SK Innovation attempted to destroy key evidence.“Circumstances show that SK Innovation, ever since it has filed suit, has continued systematic attempts to destroy evidence, such as sending out email instructions to employees to destroy related evidence,” LG Chem said in a statement.The company s

Choi Sun-mok, president and the head of the communications committee at Hanwha Group, was on Thursday named the public relations person of the year by an association of publicists in Korea. Choi was given the award for his work of implementing a series of events including a Hanwha symphony festival and the annual firework festival, the organization said, adding that such events have helped Hanwha raise its profile and expand communication channels with the public.The president also led the compa

President Moon Jae-in instructed his economy team Thursday to explore ways to develop South Korea's cosmetics industry in connection with the initiative to innovate the biotechnology sector, according to his office.Moon told Finance Minister Hong Nam-ki to map out related measures, receiving a regular report on economic affairs and policies. Hong doubles as deputy prime minister for economy.  The minister briefed Moon on current economic situations, next year's policy direction and accompli

Leading luxury retailer of furniture and home accessories Conran Shop announced Thursday the launch of its first outlet in upscale Gangnam District, southern Seoul.In a 10-year partnership with local retail giant Lotte Shopping, the London-based retailer of more than 300 designer brands will offer a unique curation of design classics and future icons. Korea’s lifestyle market has grown nearly 70 percent in in the past decade -- from 7 trillion won ($6 billion) in 2008 to 12 trillion won in

Hyundai Motor said Thursday it will invest $410 million to start production of the Santa Cruz compact sport utility vehicle in the US in 2021. Facilities will be expanded at its plant in Montgomery, Alabama, along with the deployment of related equipment, with the aim of starting sales in the US and Canada in the same year, it added. The investment will create 200 new jobs at the plant and an additional 1,000 at local suppliers and logistics companies supporting Hyundai in Montgomery and the Riv

Samsung BioLogics said Thursday it has become the first CMO company globally to obtain ISO 27001 certification from the Geneva-based International Organization for Standardization.ISO 27001 is the most prestigious international standards certification in information security. It acknowledges the local biopharma firm to be the “World’s Best CDMO Company,” and will help boost trust between global partners, the company said. To obtain the certification, Samsung BioLogics had

Global sales of an image sensor used in smartphones and digital cameras are expected to hit a record high this year, emerging as a bright spot in the stagnant chip sector, a report showed Thursday.The market for complementary metal oxide semiconductor sensors is forecast to reach $16.8 billion in 2019, up 19 percent from a year earlier, according to market researcher IC Insights. The latest growth rate is sharply up from its August prediction of a 9 percent rise for this year. The explosive grow