South Korea’s biggest mobile carrier SK Telecom said Sunday it will develop the sixth-generation network technology with Nokia and Ericsson, as the Korean government seeks to enhance economic ties with Nordic countries. The telecom firm signed memorandums of understanding for research and development cooperation with the two companies based in Finland and Sweden. The agreement with Nokia and Ericson was made on Wednesday and Thursday, respectively, at their headquarters. While

　LG CNS, the information technology services unit of South Korea’s LG Group, said Sunday it will work with Microsoft to develop advanced business platforms to improve its working environment. 　The company said that it has signed a memorandum of understanding with Microsoft to develop cloud-based business platforms. The agreement was reached on Friday at Microsoft’s Asia-Pacific headquarters in Singapore. 　The new platforms are designed to incorporate Microsoft’s advanced softwa

Hyundai Mobis, an auto parts maker under Hyundai Motor Group, said Sunday it has partnered with US high-end home audio systems manufacturer Krell for Kia’s K7 Premier.The partnership is part of Hyundai Mobis’ efforts to collaborate with technology-based companies on autonomous driving and connectivity, aimed at providing premium audio systems for in-vehicle infotainment, it added. The company plans to further its partnership with Krell by deploying the audio systems in new vehicles t

Chung Eui-sun touts hydrogen economy as ‘certain solution’ for successful energy transition

Korea hosts largest forestry gathering in APAC to shed light on role of forests to promote peace, well-being

Samsung Electronics Vice Chairman Lee Jae-yong has called for senior executives to spur efforts to develop innovative technologies to tackle rising business challenges and foster new growth drivers, the company said Sunday. Lee, the de facto leader of the South Korean tech giant, held a meeting with senior executives of the IT and mobile division at the Suwon headquarters, south of Seoul, on Friday to discuss global strategies, the company said.  The global strategy meeting, which is held t

KFS to share South Korea’s policy work on forestry preservation, global projects with China, Mongolia

Following the change in its name last month to Hankook Tire & Technology, the firm said Sunday it plans to lead the global original equipment tire market by beefing up its research and development on innovative technology. In May, the company was renamed from Hankook Tire as part of its holding company Hankook Technology Group’s rebranding to redefine its focus. The group said it included the word “technology” to reflect its long-term mission to achieve innovation

Unionized workers at Renault Samsung Motors Corp. voted for a wage deal on Friday, ending a monthslong dispute at the automaker plagued by output losses and helping it secure production volume for exports.In a vote over the wage deal, 74 percent of Renault Samsung's 2,063 workers cast ballots for the revised wage and collective agreement after the first tentative deal was rejected by the union last month, Renault Samsung said in a statement.The revised deal includes a "joint declaration for

A global pharmaceutical company announced a plan Friday to invest $630 million in South Koreaover the coming five years, participating in a "business summit" held here on the occasion of President Moon Jae-in's state visit, his office said.Moon joined the South Korea-Sweden Business Summit at a downtown hotel, along with King Carl XVI Gustaf, Prime Minister Stefan Lofven and hundreds of businesspeople from the two sides.They included Leif Johansson, chairman of AstraZeneca, a Swedish-B

South Korean oil refiners said Friday they're closely monitoring the potential fallout from the recent tanker attacks in the Gulf of Oman, a key waterway for oil transport from the Middle East, although they don't expect to see any significant problems in oil supplies.  Global crude oil prices jumped as much as 4 percent before settling about 2 percent higher Thursday following the news that two tankers had been attacked near the entrance to the Strait of Hormuz, a crucial shipping route fo

Samsung BioLogics on Friday apologized for the destruction of evidence related to alleged accounting fraud involving its affiliate Samsung Bioepis. Samsung BioLogics and Samsung Bioepis said in a joint statement, “We deeply regret the unsavory circumstances resulting from disgraceful acts such as the destruction of evidence.” “We feel gravely responsible for the arrest of our officials and the subsequent difficulties in management,” they added. “In order to prevent

Little progress seems to have been made on the launch of Samsung Electronics’ Galaxy Fold, as the company on Friday denied rumors that the world’s first foldable smartphone would be released in July. There have been rumors that the foldable device would be unveiled to Korean media in June and released on the market in July. Last week, Samsung’s smartphone business chief Koh Dong-jin told a Korean media outlet that the phone would arrive before July. However, according to Samsun

The US Department of Commerce has decided to slash its tariffs on hot-rolled steel products from South Korean steelmakers, industry sources said Friday.According to the sources, the US government recently decided to cut the countervailing duty  on hot-rolled steel sheets produced by POSCO from 41.57 percent to 0.55 percent after its annual review.  The US commerce department originally imposed a 58.86 percent CVD on POSCO's hot-rolled steel in 2016. But the US Court of International Tr

South Korean hypermarket chain operator Homeplus Co. said Friday its net income nose-dived 96 percent on-year last year due to a slump in the offline retail business and increased costs. Net profit reached 3 billion won ($2.6 million) during the fiscal 2018 that ends March 31 on a consolidated basis, compared with 234 billion won during the same period a year earlier, the company said in a regulatory filing. Homeplus said its operating income shrank 57.59 percent on-year to 109 billion won, with