LG Display announced Monday the company’s incumbent chief tendered his resignation and that it has tapped a LG Chem executive as the new leader.Han Sang-beom, current vice chairman and CEO of the panel maker, expressed his willingness to step down from the post during an emergency meeting of the board of directors for the company, which is currently suffering deficits.The board accepted Han’s resignation and tapped Jeong Ho-young, chief operating officer of LG Chem, as the new CEO of

South Korean game companies are preparing to launch potential blockbuster mobile titles in the last quarter of this year, hoping to boost their bottom line.NCSoft is staking its bet on the mobile 3D massively multiplayer game Lineage2M -- the game investors and venture capitalists as well as fans of the original Lineage game have been doggedly asking about from the beginning of this year.Advance sign-ups for Lineage2M began Sept. 5 and broke the 1 million threshold within seven hours, then escal

Hyundai Electric & Energy Systems Co., a power equipment maker under Hyundai Heavy Industries Group, said Monday it will sell assets and shares to improve its financial status. The company said it plans to raise 150 billion won ($126 million) by selling new stocks and secure an additional 150 billion won by selling assets in an effort to enhance its financial soundness.  The proceeds from its asset sales will be mainly used to pay its debts, with some of them to be invested into its res

　Copyright violation accusations filed by the country’s major broadcasters number over 150,000 so far this year, with nearly 90 percent against global video-sharing platform YouTube, a lawmaker said Monday 　Citing data from the Korea Communications Commission, Rep. Noh Woong-rae of the Democratic Party of Korea said as of last month there were 153,081 requests made by broadcasters for the media watchdog to address copyright infringement. 　The broadcasters, which include four territorial br

　South Korea’s three territorial broadcasters and mobile carrier SK Telecom held an event Monday to mark the launch of a massive video streaming service Wednesday, with an aim to attract 5 million paid subscribers by 2023. 　The heads of the broadcasters and SK Telecom gathered in Seoul to celebrate the launch of their new over-the-top video service Wavve, which combines SKT’s Pooq and the broadcasters’ Oksusu into one integrated platform.　The participants pledged to develop Wav

Oil refiners see no immediate supply concerns but their refining margins may be affected

The nation’s antitrust watchdog has been zeroing in on whether it is legal for air carriers’ frequent flyer programs to allow mileage to expire within 10 years. According to lawmakers on Monday, Fair Trade Commission Chairperson Joh Sung-wook told lawmakers last week that the antitrust regulator is reviewing the legality of airline companies’ mileage policies revised in 2008. “In addition to conducting a review on whether the policies have been unfair, we will come up wit

Fiat Chrysler Automobiles Korea, a local importer and distributor of the Italian-American auto brands, held a two-day event in Pyeongchang, Gangwon Province, offering a unique off-road experience with its signature Jeep.Held Sept. 7-8 at the famous ski resort Phoenix Pyeongchang, the 65-year-old festivities embodied the US brand’s adventurous spirit, the company said. This was the 14th consecutive year in which Fiat Chrysler held a Jeep Camp in South Korea, and it invited 300 teams with 1,

LG Innotek, the electronic parts affiliate of LG Group, said Monday that the company would showcase around 20 kinds of car components at an upcoming automotive show in Japan this week. The LG affiliate will, for the first time, take part in the Automotive World 2019 that kicks off Wednesday for a three-day run in Nagoya -- where Japan’s major auto parts makers, as well as automakers like Toyota, are headquartered. The event is held in Tokyo every January and in Nagoya in September, attende

The chief executive officers of LG Chem and SK Innovation, embroiled in a legal dispute over patent infringement issues and the poaching of talent, met Monday at a hotel in Seoul to seek some breakthroughs, the companies said. LG Chem CEO Shin Hak-cheol and SK Innovation CEO Kim Jun reportedly exchanged views for over an hour and maintained their respective stances on the ongoing confrontation. “Details of the talks cannot be revealed,” said an LG Chem official. It has also not been

Hyundai Engineering Co., a major South Korean industrial plant builder, said Monday it has won a $2.17-billion deal to upgrade a refinery plant in Indonesia.  Under the deal with Indonesia's state-run PT Pertamina, Hyundai Engineering will take part in Indonesia Balikpapan Refinery Development Project that aims to revamp oil processing facilities in Balikpapan, East Kalimantan, some 1,000 kilometers northeast of Jakarta.Hyundai Engineering said it will be responsible for the engineering, pr

SK Innovation Co. of South Korea has been picked to supply a battery pack for Ferrari's first plug-in hybrid electric vehicle, industry sources said Sunday.After two years of tests of various products, the Italian luxury sports carmaker has chosen SK Innovation as the supplier of the lithium-ion battery pack for its SF90 Stradale model, according to the sources. Germany's Daimler AG and Volkswagen and South Korea's Hyundai Motor Group have already used the firm

Korean pharmaceutical companies are making inroads into Central and South America, betting on steady growth of markets in the region. Samsung Bioepis, Celltrion Healthcare, Boryung Pharmaceutical, CJ HealthCare and Hanmi Pharmaceutical all announced in the first half of 2019 that they would begin or expand commercialization of flagship drugs overseas.Samsung Bioepis, the novel bio drug development arm of Samsung BioLogics, said Tuesday that it has begun sales of its autoimmune disease treatment

Lee Jae-yong, vice chairman and heir apparent of Samsung Electronics, flew to Saudi Arabia on Saturday to check on Samsung C&T’s infrastructure project in the Middle Eastern country’s capital, Riyadh, the company said Sunday. The de facto leader of South Korea’s biggest conglomerate visited the construction site for the Riyadh Metro project, in which its construction arm is a participant. The project, slated for completion by 2020, will involve the construction of six subwa

SK Telecom and its Swedish partner Ericsson said Sunday they have successfully conducted a joint test of the 5G standalone network, opening the way for faster network services and better data management efficiency.Standalone (SA) is a method that is two times faster than the previous 5G non-standalone (NSA) method, which uses 5G connection side by side with the lower-grade Long Term Evolution network.  SK Telecom announced it has become the first Korean telecom company to achieve pure SA 5G