CJ CheilJedang is reviewing the possible acquisition of US food additives company Prinova, though nothing is certain at this point, the company said Thursday.“We are aware that Prinova is open for bidding. However, we do not know who else is bidding for the deal nor how the seller wants to proceed,” said a CJ CheilJedang representative.(Yonhap)Prinova is one of many candidates CJ is considering acquiring, according to sources.Prinova is a global supplier to the food and nutrition industries. Ind

South Korean flagship carrier Korean Air said it aims to strengthen its business growth this year by securing market competitiveness and improving customer service. The year 2019 marks the company’s 50th anniversary. This year is also significant for the air carrier as it will host the International Air Transport Association’s 75th Annual Grand Meeting in Seoul in June. Some 1,000 representatives from 290 airlines of 120 countries will fly in to participate in the three-day meeting, to discuss a

Nearly 50,000 people were victims of phone financial scams last year, amounting to 444 billion won ($396.78 million) in lost money, regulator data showed Thursday.The amount of money lost to scams increased 82.7 percent from 2017 as people fell victim to phone calls coaxing them to reveal their passwords and other security information on their financial accounts, a crime known as "voice phishing." (Yonhap)Data from the Financial Supervisory Service said 48,643 people were conned last year, an av

BARCELONA, (Yonhap) -- South Korea's SK Telecom said Wednesday it has signed a memorandum of understanding (MOU) with Singapore's Singtel to cooperate on gaming and e-sports in Asia.The partnership enables SK Telecom to expand its games business and increase the profile of its e-sports team in the Singtel Group's markets in Southeast Asia via existing channels. (Yonhap)Under the agreement, the carriers will work together on developing and providing digital gaming content, solutions and services

Company’s board approves W1tr investment in additional Hungary plant for EV batteries

BARCELONA, Spain -- Standing in line for a voice assistant at a mock hotel room, visitors curiously watched how their water was being delivered after the order was given in a slew of different languages. Immediately after the order was put to the voice assistant, cute, white robots began the journey with their autonomous mechanism. After putting a bottle of mineral water in its case, the robot brought the ordered item to the doorstep. Displayed at the world’s biggest Mobile World Congress 2019 t

LSIS aims to become a total energy provider in solar plant business

Automaker announces five-year W45tr investment plan for R&D, future technologies

Younger members of the ownership families of domestic pharma firms are emerging in the public eye with wider involvement in management. Celltrion founder and Chairman Seo Jung-jin’s 32-year-old second son Seo Joon-serk is the latest such case. Seo will be promoted to director of the operation management department, effective Friday, according to the company. Seo joined the company in 2017. Celltrion said Seo will support and oversee the operations of biopharma production at plants. Seo’s older b

South Korean tech behemoth Samsung Electronics Co. said Wednesday that it has decided to renew its sponsorship agreement with WorldSkills International to support the 45th WorldSkills Competition for the seventh consecutive year.Samsung will chip in 1.5 million euros ($1.79 million) as the overall event presenter and provide its products. It also plans to showcase its high-end products and technology. (Yonhap)Every two years WorldSkills hosts the world championships of skills that attract young

 (Yonhap)SsangYong Motor President Choi Johng-sik (second from left) poses at an unveiling ceremony for the new Korando in Incheon, Tuesday. The new Korando comes four years after the company injected 350 billion won ($313 million) to roll out new model after the previous Korando C model, which was launched eight years ago. Choi said during a press conference that the company aims to bring Korando as one of company’s popular SUVs along with its Tivoli and Rexton.By Kim Da-sol (ddd@heraldcorp.com

A second meeting between Samsung Electronics’ chief and the crown prince of the United Arab Emirates raised speculations Tuesday that the South Korean tech titan could take over ownership of the world’s third-biggest foundry business, GlobalFoundries. UAE Crown Prince Mohammed bin Zayed bin Sultan al-Nahyan was scheduled to visit Samsung’s production facilities in Hwaseong, Gyeonggi Province, on Tuesday during his visit to Seoul. Samsung heir Lee Jae-yong greeted the UAE prince and took him on a

South Korea’s biggest game company, Nexon, will scrap the practice of paying fixed overtime wages starting in August, the company announced Tuesday.Paying employees a fixed overtime wage is a widespread practice among game companies here, and has been blamed for causing game developers to work an excessive number of hours. “The most palpable difference is that we will now be paid for our overtime hours,” said Bae Soo-chan, the chief of Nexon’s labor union, called Starting Point. Negotiations bet

LG Uplus’ chief vows to accelerate verification of Huawei equipment

BARCELONA, Spain -- With debate swirling around Chinese tech giant Huawei and security concerns about the use of its equipment in other countries, the matter was also high on the agenda for global telecom companies this week at the world’s largest mobile gathering.Members of the body running the annual MWC events, the GSM Association or GSMA, had engaged in “heated debate” over the extent to which they should get involved in the controversy in the face of growing pressure, according to insiders.