The South Korean government projects that the nation’s future industries would require 165,000 workers by 2027, vowing to address skills shortages by training workers through higher education and public projects. On Tuesday, the Ministry of Trade, Industry and Energy said its survey results revealed a growing need for manpower in five future industries, including next-generation chips, advanced display panels, internet of things-based home appliances, augmented reality and virtual reality

Decision on rare merger of two bio firms questioned by investors

Amid diplomatic row, Tokyo announces restriction of its exports of high-end chemical to Korea

South Korea’s Hanwha Corp. announced Monday it has introduced an advanced version of its electronic detonator, called “HiTronic II,” with an aim to increase the firm’s global market share to 25 percent by 2024. 　Hanwha said in a press release that the company had succeeded in developing HiTronic II, an improved version of its predecessor, HiTronic I. Hitting the market in 2015. Hitronic I is the country’s first electronic detonator developed by a local defense firm.

South Korean food manufacturer Samyang Foods said Monday that its bestselling instant noodle Buldak Spicy Chicken Ramen recorded accumulated sales of 1 trillion won ($863 million), seven years after its launch. According to the company, the sales of its spicy chicken ramen brand shot up from 100 billion won in 2016 to 282 billion won as of last year.  Following the successful hit of the brand, the company developed and launched Carbo Buldak Spicy Chicken Ramen, which set another record

In celebration of the company’s 49th anniversary, the chief of Samsung SDI urged staff on Monday to secure exclusive battery technology by creating an innovative corporate culture.“We can achieve sustainable growth only if we build (and) innovate corporate culture at a time of intensifying market competition for leadership in the future,” said Jun Young-hyun, CEO and president of Samsung SDI, a battery making unit under Samsung Electronics. “Through our innovative DNA, wh

Gwangju-based builder’s chief inaugurated as new Herald chairman

South Korea’s official export credit agency Export-Import Bank of Korea is under pressure from international environmental activists to halt its financing of coal power plants, amid a growing global campaign to tackle climate change and air pollution. On Sunday, Greenpeace Korea shone a laser light on the headquarters building of the Export-Import Bank of Korea in Seoul, displaying messages that read, “Stop investing in coal-fired plants” and “President Moon Jae-in, when

Korean pharma company Yuhan Corp. said through a regulatory filing Monday that it has clinched a deal worth $870 million to license out its nonalcoholic steatohepatitis (NASH) pipeline to global biopharma firm Boehringer Ingelheim for joint research and development purpose.　Yuhan and Boehringer Ingelheim’s collaboration aims to develop first-in-class dual agonist for NASH and related liver diseases that combines GLP-1 and FGF21 activity in one molecule, the companies said. 　“This mol

South Korean discount chain Homeplus said Monday that it has granted permanent employment status to 14,283 contract workers at its stores, who account for some 62 percent of all workers at Homeplus, Homeplus Stores and Homeplus Holdings.  The change means Homeplus employs only 1 percent of its workers, or 228 individuals, on a contract basis, according to the company.Homeplus said having 99 percent of its employees, or 22,900 individuals, hold full-time permanent status was a meaningful ste

Hanwha Techwin’s CCTVs evolve to offer retail insights with video-based data analytics

Air Busan Co., a budget carrier unit of Asiana Airlines Inc., began Monday to implement an electronic system to have its flight crew, mechanics and other employees involved in its core aviation operations take a self-administered breath alcohol test before flights or ground service, the company said.All of the company's establishments are subject to the system, developed by the airline, and it marks the first time in the country's aviation industry that such a system has been introduced. Under t

Since the 2015 launch of the Tivoli, SsangYong Motor’s bestselling compact sport utility vehicle has been especially popular among drivers who prefer a compact, stylish SUV -- one that is suitable for urban driving and has a more spacious trunk than a sedan.But after four years, the Very New Tivoli is here. This face-lifted version will appeal to drivers seeking a dynamic driving experience, a powerful engine and the chance to try out different driving modes. During the 170-kilometer test

Aroundus, a South Korean startup operating a platform that matches freelancers with employers, said on July 1 it has raised 882 million won ($761,700) in seed funding from venture capital investors. The funds have come from Shinhan Capital, Shinhan Investment and Korean startup accelerator D.Camp.  Since launching in July 2018, the number of subscribers for Aroundus’ Korean web service surpassed 14,000 last month. “We recognized Aroundus’ capacity to think out of the box t

The Mercedes-Benz corporate social responsibility committee is celebrating its fifth anniversary and is now reaching out to a wider range of communities in need, as part of an effort to increase social acceptance of gender and cultural diversity.Saying the CSR program had reached its “adolescence,” Dimitris Psillakis -- chairman of the Mercedes-Benz CSR committee, which is made up of the carmaker and its dealers -- said the multibillion-won charity platform would expand its education