Daewoong Pharmaceutical’s liver pill Ursa is under fire for an allegedly misleading TV commercial. Daewoong on Monday denied accusations brought by a doctors’ group called the Barun Medicine Institute, saying that it was a coincidence that the TV commercial in question had ceased to air. For future commercials, the company plans to remove a controversial line that purports the efficacy of Ursa for liver patients. A Daewoong representative told The Korea Herald this is being done to a

The 5-year maintenance deal for Barakah plant falls short of expectations

Merck, a global pharmaceuticals company with a corporate history spanning 350 years, has launched a student ambassadors campaign titled “Merck Young Supporters” in Korea, the company said Monday. The five-month program offers 16 selected university students the opportunity to develop their interests in life science industry issues and promote Merck’s brand image in the process, Merck said.  “Through the ‘Merck Young Supporters’ campaign, Merck is pioneeri

South Korean college students find Naver the most desirable company to work in, a survey showed Monday.According to the survey of 929 college students, conducted by job search portal Incruit, Naver topped 121 companies with 7.4 percent of respondents choosing it, followed by CJ ENM with 7.2 percent and Samsung Electronics with 6.2 percent.Naver had also ranked first on the list in 2015 and 2016.  Meanwhile, SK hynix was included among the top 10 firms for the first time, with 4.4 percent of

Shares in Hanjin KAL, the holding company of Hanjin Group, continued to extend losses Monday as investors who bet on the firm's escalating battle with a local activist fund are offloading them, analysts said.Investors are selling Hanjin KAL, the parent company of Korean Air Lines Co., as the battle between Hanjin KAL and the Korea Corporate Governance Improvement seems to be over and KCGI's 16 percent stake in Hanjin KAL could serve as an overhang, they said. "Hanjin KAL may undergo a furth

President Moon Jae-in’s new secretary for policy, who earned the nickname “chaebol sniper” for his decadelong shareholder activism, vowed to keep his stance of promoting income-led growth, innovation and a fair economy. At a farewell meeting as chief of Fair Trade Commission, Kim Sang-jo told reporters he is open to dialogue with conglomerate chiefs while drawing a clear line saying that incumbent Finance Minister Hong Nam-ki will keep his role as control tower on economic poli

South Korea’s Samsung Electronics and six other global tech giants are being investigated by the US International Trade Commission following allegations that they violated patents in their touch-controlled mobile devices, computers and components, according to industry sources Sunday. The USITC disclosed on its website that it will launch an investigation over allegations that certain touch-controlled devices imported to the US have violated Section 337 of the US Tariff Act.The complaint w

A look at the origins and meanings of some popular foreign-inspired brand names

Auto parts maker sets eyes on developing superior lidar technology

Hyundai Motor Group’s “The Quiet Taxi” commercial won the Silver Lion at the 2019 Cannes Lions International Festival of Creativity, the group said Sunday. Global advertisement agency Innocean Worldwide produced the film, with Jeremy Craigen as the chief creative officer.Touted as the world’s biggest celebration of creative advertisements, the 66th Cannes Lions took place in France from June 17 through Friday. Over 30,000 commercials from 89 countries competed.The award-w

A son of Chung Tae-soo, former head of the now-defunct Hanbo Group, was extradited to South Korea on Saturday, following his discovery in Panama 21 years after he fled a corruption probe, prosecutors said. Chung Han-keun, 54, was recently captured in Panama. In 1998, he fled the probe into allegations that he embezzled 32.2 billion won ($27.6 million) from a subsidiary of Hanbo Group and stashed it in a secret Switzerland-based bank account. Upon arrival at Incheon International Airport, Chung r

South Korea said Friday that it has agreed with Vietnam to cooperate to ensure that South Korean companies can participate in large-scale infrastructure projects in the emerging Southeast Asian country.The agreement was reached between Hong Nam-ki, the minister of economy and finance, and Vietnam's Deputy Prime Minister Vuong Dinh Hue at a Seoul hotel.Hue is in Seoul for the first talks between the deputy prime ministers of the two countries, an arrangement set up following last year's state vis

Following success of Tada, Korean mobility startups launch operations with car rental companies

　South Korean telecom firm KT announced Friday it will work with Japanese entertainment company JW2B to produce futuristic K-pop content for 5G-based smartphones using virtual and augmented technologies. 　The memorandum of understanding was signed in Tokyo on Thursday. 　The agreement allows KT users to enjoy AR- or VR-based content delivered by JW2B featuring K-pop stars’ performances in Japan. KT said the content will be available on 5G-powered smartphones and KT’s internet TV servi

US air carrier Delta Air Lines announced Thursday that it has acquired 4.3 percent of the shares of Hanjin KAL, the holding company of Korea’s largest air carrier Korean Air, in an apparent move to defend its joint venture and the ownership family’s management. Delta Air Lines said its indirect investment in the Korean air carrier demonstrates its commitment to the success of their joint venture and to customer benefits. It said it also aims to increase its equity stake to