Keeping its legacy, Yuhan epitomizes CSR, expands business areas for continued growth

　While South Korea began commercial operations of fifth-generation cellular network services last week, there is still a long way to go for customers nationwide to benefit from the hyperspeed services. 　Rep. Byun Jae-il of the main opposition Liberty Korea Party said Sunday nearly 90 percent of the 5G base stations are currently located in the country’s capital city of Seoul, its surrounding area, and five metropolitan cities. 　Citing data from the Ministry of Science and ICT, Byun asserted the

Hyundai Motor and its sister company Kia Motors saw record-high first-quarter SUV sales in the US, where sport utility vehicles and pickup trucks are dominant, industry data showed Sunday. From January to March, Hyundai and Kia sold a total of 155,082 units of SUVs in the US, accounting for 8 percent of their total sales and marking the highest figure since 2011, when the combined figure for both companies was 10 percent.  Kia Motors’ Telluride (Kia Motors)SUVs also made up 53.8 percent of total

　A bipartisan group of lawmakers has ratcheted up calls for deregulation of the blockchain industry, as the financial regulator has adopted a conservative attitude toward the easing process due to procedural reasons.　While the ruling Democratic Party has focused on comprehensive deregulation guidelines, the main opposition Liberty Korea Party has criticized the Moon Jae-in administration for being heavy-handed over technological innovations. Concern has been rising here that the government’s con

The state-run antitrust agency has notified Samsung BioLogics that it is no longer a holding company of Samsung Bioepis, the company said Friday in a regulatory filing. Because Samsung BioLogics has only 43 percent of its total assets invested in Samsung Bioepis -- less than the required 50 percent -- it is no longer a holding company under FTC’s Monopoly Regulation and Fair Trade Act, the statement added.Samsung BioLogics, mainly a contract manufacturing organization for pharmaceuticals, establ

A novel degenerative disc treatment developed by South Korean pharmaceutical firm Yuhan Corp., identified as YH14618, is nearing the clinical trial phase in the US.Yuhan Corp. on Friday said it had received the remaining $550,000 of the $650,000 down payment from Spine Biopharma, the US company to which Yuhan licensed out YH14618 in July 2018.Spine Biopharma plans to apply to the US Food and Drug Administration before the end of this year for permission to conduct clinical trials of YH14618. Bac

The devastating forest fire in the town of Goseong, Gangwon Province, may have been caused by a disconnect switch on a utility pole, the state-run power utility said Friday. In the early morning, the nation’s emergency management agency said the fire appeared to have started when a transformer exploded near a resort in the town of Goseong. (Yonhap)But a few hours later, the state-run Korea Electric Power Corporation, which manages both transformers and disconnect switches, said, “There was no tr

Smartphones enabled by fifth-generation telecommunications networks were launched and registered in South Korea on Friday, marking the beginning of a new telecom era. The country’s three mobile carriers -- SK Telecom, KT and LG Uplus -- started offering 5G mobile services for ordinary smartphone users with the launch of the Samsung Galaxy S10 5G model. SK Telecom, the biggest telecom firm by number of subscribers, held a ceremony at its T World shop in Gangnam Station, southern Seoul, to celebra

Co-founder says technology was primary ingredient for startup’s success

Samsung Electronics is forecast to post the smallest operating profit since 2016 in the first quarter of this year, according to its preliminary earnings report Friday. The report said the tech titan would record 52 trillion won ($45.77 billion) in sales and 6.2 trillion won in operating profit during the January to March period. (Yonhap)While Q1 sales dropped 14.1 percent from a year earlier, the company’s operating profit plunged 60.4 percent. The 6.2 trillion won operating profit marks the sm

Caught off by Verizon’s move, South Korea moves up 5G launch date to Wednesday

Samsung Electronics will start offering cutting-edge chipsets as communication solutions for the commercial fifth-generation network, the tech titan announced Thursday. One day before the launch of Samsung Galaxy S10 5G, the company said it has embarked on mass production of the 5G multi-mode chipsets for upcoming 5G premium devices. In addition to the previously introduced Exynos Modem 5100, Samsung unveiled its new single-chip radio frequency transceiver Exynos RF 5500, and a supply modulator

LG Display sold more than 100 million displays for automobiles as of the first quarter of this year, reaching the figure 14 years after entering the auto business, the company said Thursday. Since first starting to provide central information displays for global automakers in 2005, the Korean panel maker has seen rapid growth in the auto display business, hitting 10 million in 2011 and 50 million in 2015. According to IHS Markit, LG has maintained the top spot in the market for automotive displa

Hyundai Motor on Thursday denied that it was building a new manufacturing plant in Saudi Arabia, after a Cabinet member of the Middle Eastern country said in an interview there had been “advanced” talks on the matter. “We have always taken various plans for review to expand global sales,” said a company official. “There is no plan with regard to (making) investment in Saudi Arabia or any other advanced talks (about that) and we don’t have a plan to build a manufacturing plant there.” (Yonhap)The

KUALA LUMPUR -- With the launch of its halal trade fair this year, Malaysian officials pointed to South Korea as a viable halal market for growth, citing a growing number of Muslim tourists interested in visiting the Northeast Asian country.The 16th Malaysia International Halal Showcase kicked-off on April 3 in Kuala Lumpur with more than 800 exhibitors from about 44 countries participating in the event, to promote their interest in both the local and global halal market. Among them were South K