Prosecutors raided the offices of Samsung Group's affiliates on Thursday as part of an ongoing probe into alleged accounting fraud by its biopharmaceutical unit, Samsung BioLogics Co.The raids come after the Financial Services Commission ruled that Samsung BioLogics intentionally violated accounting rules ahead of its initial public offering in 2016. The case has been referred to the prosecution. The regulatory review centers on questions about the loss-making Samsung BioLogics' reporting of sud

A total of nine duty-free operators are set to take part in the bidding for the country's first arrival duty-free shops at Incheon International Airport, the airport's operator said Thursday.Incheon International Airport Corp. said the nine companies have sought to take part in the bidding to operate the shops that are set to open during the first half of this year, without disclosing the name of the companies.Industry sources said that one of the bidders is Dufry Thomas Julie Korea Co., a local

LG CNS started its software teaching program LG CNS Coding Genius with 118 students from Shinil Middle School, Seoul, Thursday. A part of the company’s CSR activities aimed at inciting creativity and cognitive thinking among youths, LG CNS has been providing software education program for middle school students since 2017. The program has been taught for over 6000 students in 50 schools across the nation. Students from Shinil Middle School uses Lego robot cars to learn about self-driving technol

In response to complaints raised by some users of Galaxy S10 and S10+ models regarding its first in-display fingerprint scanner, Samsung Electronics said Thursday it will keep upgrading software to improve performance.Among early users of the latest Galaxy S10 and S10+ devices, some questioned the accuracy of the ultrasonic in-display fingerprint scanning function, a technology provided by Qualcomm, after about a week of use.Samsung has chosen the in-display fingerprint scanner over its iris aut

SEJONG -- South Korea has actively promoted its agricultural products in overseas markets over the past few years by holding K-food fairs in Southeast Asia and elsewhere.The Ministry of Agriculture, Food and Rural Affairs is encouraging “steady” outbound shipments of farming products. The growing volume of farm product exports to destinations such as Vietnam and China drew public attention last year and gave local farmers reason to feel hopeful.This year, K-food fairs are scheduled in seven citi

　Samsung SDS on Thursday pledged to bolster its security solution for cloud services by applying advanced encrypted technology to better protect client companies’ data both externally and internally.　At a press conference in Seoul, Samsung SDS introduced its latest cloud security total service against cyberattacks using newly developed technologies that include its homomorphic encryption. Samsung SDS CEO Hong Won-pyo. Samsung SDS　In order to block hackers, the solution applies artificial intelli

Authorities reinvestigate SK Chemicals, Aekyung

South Korea’s full-service flagship carrier Korean Air and budget airline T’way joined a growing list of airlines Wednesday in grounding Boeing 737 Max 8 planes after an Ethiopian Airlines plane crashed and killed 157 people Sunday.The fatal crash came just five months after another plane crash involving the same model took place in Indonesia. Lion Air’s 737 Max plunged into the ocean under similar circumstances, killing 189 people. Boeing 737 Max 8 (Yonhap)On Thursday, Korean Air announced it w

The Korea Fair Trade Commission said Thursday it asked Google to change some of its terms and conditions related to copyright infringement, as the first competition authorities in the world to do so. Google’s video-streaming platform currently allows the firm to arbitrarily delete and reuse video posted by users.The antitrust watchdog said it is unfair that even if a user deletes his or her video, YouTube can still possess and use that video. It is also unfair that YouTube can arbitrarily delete

Local proxy advisor Korea Corporate Governance Service on Wednesday recommended shareholders to vote for Hyundai Motor’s plan to appoint nonexecutive directors, backing the auto giant’s governance overhaul plan that will be put to vote next Friday.The KCGS, which advises National Pension Service and other institutional investors, favored Hyundai’s pick for independent board nominees, dismissing US activist fund Elliott Management’s proposal. The three nominees picked by Hyundai include Yoon Chi-

Hyundai Motor has developed a third-generation platform and used it for the all-new Sonata, set to be launched later this month here, the company said Wednesday.By using ultra-strength and hot-stamped steel, the platform is 10 percent stronger and 55 kilograms lighter than before, it added. (Yonhap)The new platform will help the carmaker design and manufacture safer, energy-efficient and more powerful vehicles. It is the basis of improving the carmaker’s performance and reduce air resistance.The

South Korean auto part maker Hyundai Mobis will invest 5.5 billion won ($4.86 million) in DeepGlint, a Chinese startup developing 3D image analysis and pattern recognition technologies.The company is a leader in the fields of security monitoring and business analysis, and has developed facial recognition technology that can identify a single person out of 1 billion people from a distance of 50 meters. (Yonhap)Mobis’ investment in DeepGlint is aimed at securing technologies for recognizing in-veh

LG Chem was the first South Korean company to be named as one of the top 10 chemical companies in a magazine published by American Chemical Society last year, demonstrating its business capability and potential as a provider of energy solutions, chemical products and cure for human diseases.The company has recently introduced new sales and investment goals for five of its core business areas in order to pave the way to be rated as a global top five firm in the industry by 2025. The plan includes

Despite its hefty investments in China over the years, Lotte Group appears to be seeking a complete departure from the market that was once highly lucrative, after failing to recover from a boycott campaign which was instigated by diplomatic bickering between Seoul and Beijing. The retail conglomerate was the main target of the diplomatic feud between China and South Korea over the deployment of an anti-missile Terminal High Altitude Area Defense system in 2017 on its golf course at the Lotte Sk

Samsung Electronics is expected to ship out a total of 20 million Galaxy S10 series phones within the first half of this year, industry sources said Wednesday. If they are correct, the series will achieve a slightly better showing than its predecessor.The 10th-anniversary Galaxy S10 phones, which went on sale throughout the world Friday, are expected to achieve sales targets of 10 million for the first quarter and another 10 million for the April-June period, according to Samsung’s parts supplie