After being defeated by Chinese rival Xiaomi in India, Samsung Electronics again was deprived of its No. 1 title in smartphone shipments to Thailand in the final quarter of last year, losing the top position to Chinese firm Oppo, a market researcher’s report showed Thursday. The South Korean tech giant sold over 1 million phones in the October to December period in Thailand, accounting for 21.1 percent of the second-largest market in Southeast Asia, according to Singapore-based tech industry tra

Retailers, confectionery firms and convenience stores sell up to 10 times as many sweets in February and March than other periods, as Korea celebrates Valentine’s Day in February and White Day in March, but they have faced growing complaints of excessive packaging and low-quality products.“When I unwrapped the Valentine’s Day chocolate basket, I felt fooled because the basket was mostly filled with chocolates from lesser-known brands except two to three, although it looked like it was filled wit

South Korea’s third-biggest telecom firm LG Uplus said Thursday the company has approved a plan to acquire the country’s biggest cable TV operator CJ Hellovision amid growing competition in the local pay TV market.LG Uplus’ board gave the greenlight for the company to purchase a stake of 50 percent plus one share in CJ Hellovision from its holding company CJ E&M. The deal is estimated to cost about 800 billion won ($711 million), according to LG Uplus and CJ E&M.“The acquisition will be the firs

As part of its efforts to expand strategic alliance with global brands, Coupang on Thursday signed a memorandum of understanding with HP Korea for strengthened strategic partnership, the firm said.The signing ceremony held in Seoul was attended by Coupang’s CMG Business VP Dan Wright, Senior Director James BH Lee and Fellow Jonathan Burks along with HP Korea’s Country Managing Director Kim Dae-hwan and HP AP Consumer Personal Systems Director Vivian Chua.  Coupang’s Senior Director James BH Lee

Emart Inc., South Korea's largest hypermarket chain, said Thursday that it aims to raise its online sales by 30 percent this year, and open more convenience stores.The retail giant, part of Shinsegae Group, also will further nurture its warehouse store, Emart Traders. (Yonhap)The company expects its sales for the year to grow by 17.8 percent to 20.08 trillion won ($17.85 billion) on a consolidated basis.On a standalone basis, its revenue is projected at 15.68 trillion won this year, up 5.1 perce

The deaths of three employees in an explosion at a Hanwha factory on Thursday have fueled concerns about workplace safety at the major Korean conglomerate, as an explosion at the same factory had claimed the lives of five people just seven months ago. Hanwha confirmed Thursday three employees had died after the explosion at its plant in Daejeon, a city some 140 kilometers south of Seoul. (Yonhap)“We express our deep condolences to the victims and their families. We will do our best to address th

From left: Hyundai Motor Executive Vice Chairman Chung Eui-sun poses with PGA Tour Commissioner Jay Monahan, tournament host Tiger Woods, and Executive Vice President and global head of the Genesis brand Manfred Fitzgerald at the Genesis Open Championship held at the Riviera Country Club in California on Wednesday. Genesis, Hyundai Motor's luxury brand, is the title sponsor of the tournament. (Yonhap)The status of the Genesis Open will be elevated to an invitational tournament starting next year

SK Group Chairman Chey Tae-won on Thursday hinted its semiconductor business could expand into the non-memory semiconductor market in order to diversify profits and raise future competitiveness in the fourth industrial revolution era. “We don’t yet have any set plan but we will have to do something this year,” said Chey in response to The Korea Herald’s question about SK hynix’s preparations for the system-on-chip market, in a similar move by Samsung Electronics.  SK Group Chairman Chey Tae-won

A total of 2.9 million tourists used Airbnb Inc., a global house-sharing platform, last year, up 56 percent from a year earlier, the company said on Thursday.Seven out of 10 Airbnb users, or some 2.02 million, were locals, with some 156,200 Chinese tourists to South Korea staying at Airbnb accommodations, accounting for 17 percent of all foreign tourists using the house-sharing platform, it added. (Yonhap)Airbnb hosts earned an average of 4.94 million won ($4,400) last year, according to the com

Major chipmakers vow timing strategies to prevent oversupply

　Clocking in for work at Centropolis, a high-rise business building in downtown Seoul, office workers literally have to do nothing other than, well, start working.　 　They have no entrance pass for security or card to swipe through a reader. All they need is their smartphones connected to the fifth-generation network. They enter through a door with face recognition and immediately start working at reserved desks after connecting their phones on a docking pad to a cloud computing system. No deskto

SCM Life Science and Genexine form consortium to acquire clinical trial site and expertise of the US company

Information on generic drugs approved in South Korea, and their efficacy, will become easier to browse through the Korean version of the US’ Orange Book, the Ministry of Food and Drug safety said Wednesday.The Orange Book is an online list of approved generic drugs, with evaluation results to support their therapeutic equivalence to originals. It was first created in the US in October 1980. Japan followed suit with the JP-Orange Book in September 2002.The K-Orange Book can be found at http://ned

South Korean auto giant Hyundai Motor and its sister company Kia Motors will hire new talents year-round, ditching their conventional recruitment system. Starting this year, the companies will hire new employees by opening job vacancies all year round, the company said on Wednesday in a statement. The new system is seen as an attempt to make changes in its corporate culture, often criticized as hierarchical and monolithic.  (Hyundai Motor)It is aimed at securing young talents capable of leading

JEJU -- With continued demand for larger sport utility vehicles here following changing lifestyles, more foreign carmakers are rolling in larger premium family models with upgraded functions and interior space.French automobile maker Peugeot is one of them. Earlier this year, the carmaker’s new 3008 and 5008 SUVs, which came back with larger space and multifunction steering wheels, hit the domestic market.  Peugeot 3008 and 5008 SUV (Hanbul Motors)The new five-seater 3008 SUV features the new EA