Chairman expresses confidence in leading biosimilar market, says will retire in 2020

Enhanced AI techs to upgrade functions of appliances in new telecom era along with innovative display and mobility techs

The number of new convenience stores in South Korea moved down in 2018 from a year earlier, industry data showed Sunday, due mainly to an increase in labor costs and the market's saturation.According to industry data, new CU branches, operated by BGF Retail Co., posted a net increase of 666 last year, falling sharply from the on-year rise of 1,646 posted in 2017. The figure is based on the number of new shops minus those shut down permanently. (Yonhap)GS25, the country's No. 2 convenience store

Korea Aerospace Industries, South Korea's sole aircraft manufacturer, has apparently failed in its bid to export its Surion choppers to the Philippines, an official at Seoul's arms procurement agency said Saturday.Late last year, the Manila government informed the South Korean embassy in the Philippines that it had opted to purchase the US-made UH-60 Black Hawk helicopter, the official said on condition of anonymity. Surion choppers (Yonhap)The apparent failure came after a MUH-1 Marineon -- the

South Korean e-commerce company Coupang said Friday that it had become an authorized online reseller of Apple products. Apple products such as the iPad Pro, new MacBook models and the Apple Watch Series 4, can be now found in Coupang’s Apple brand store where customers can use Coupang’s One-Touch Payment and receive rapid delivery via Coupang’s RocketDelivery service from January. Coupang is known for its extensive customer reach and record for maintaining the industry’s best customer service. A

South Korean low-cost carrier Air Busan said Friday that it will operate a flight route connecting Busan and Singapore until Jan. 29. It is the first attempt for a budget carrier to operate the Busan-Singapore route. Air Busan said the flights were scheduled for every Tuesday and Friday, departing Gimhae International Airport at 6:15 p.m and arriving in Singapore at 11:15 p.m. Returning flights will leave Singapore at 12:15 a.m. and arrive here at 7:20 a.m. on the following day.The temporary fli

NXC CEO Kim Jung-ju on Friday acknowledged widespread industry speculation that Nexon, South Korea’s biggest game developer and a subsidiary of NXC, is up for sale.“I am contemplating various ways to back up Nexon in becoming a more globally competitive firm,” Kim said in a statement.He also said that he would “jump into new challenges, without growing complacent,” indirectly admitting to the disposal plan.Kim Jung-ju (NXC)A day earlier, local media was abuzz with reports of Kim’s plans to put o

Truxima, Remsima and Herzuma -- Korean biosimilars for the treatment of different cancers and autoimmune disease -- are setting their own records in European market share, according to Celltrion Healthcare, the marketing and distribution arm of South Korean biosimilar maker Celltrion.Standing out in terms of market expansion speed has been Truxima, the firm’s Rituxan biosimilar used to treat blood cancer, which launched in Europe in 2017 and recorded 35 percent market share in the third quarter

Samsung Electronics said Friday that it has opened a research institute dedicated to fine dust issues, seeking to resolve related social problems through research and development.The institute was established within Samsung Advanced Institute of Technology, with SAIT Deputy President Hwang Sung-woo named as its director. (Yonhap)“Based on SAIT’s technology and infrastructure, the institute will develop high precision subminiature sensors to detect fine dust particles. It will also work on new te

Hyundai Motor said Friday that eight cars from Hyundai Motor and its sister company Kia Motors, as well as its premium brand Genesis, won 2018 Good Design Awards.According to the carmaker, its Le Fil Rouge, Santa Fe, Kona, Solati Moving Studio, Kia Motor’s K3 and K9 and Genesis’ Essentia Concept and G70 were awarded in the category of transportation design. This marks the ninth consecutive year Hyundai vehicles have been recognized with the honor.Jointly presented by the Chicago Athenaeum Museum

SK Telecom, South Korea’s No. 1 mobile operator said Thursday that it will team up with the country’s three terrestrial broadcasters to set up a local online video contents service by June.Park Jung-ho, the president of the telecommunication company, said after signing a memorandum of understanding with the broadcasters in Seoul, that the planned over the top service will be created by consolidating two existing contents platforms. (Yonhap)He said the merging of SK broadband Co.’s Oksusu service

Amid fears over economic downturn, Koreans dream of wealthy, fulfilling lives in Year of the Pig

The South Korean government vowed Thursday to toughen regulations against leaks of the nation’s key technologies, including artificial intelligence, chips and panels, amid growing concerns that Korea may lose industrial competitiveness to rivals without the proper protection of its core technologies.During a Thursday meeting presided by Prime Minister Lee Nak-yon, the government released a set of measures to prevent leaks of the nations’ industrial technologies.  (Yonhap)The key aspect of the me

SsangYong Motor unveiled its upgraded pickup Rexton Sports Khan on Thursday, targeting drivers keen on outdoor activities and leisure sports. The main difference between the previous Rexton Sports and the new Rexton Sports Khan is a 310-millimeter-longer utility deck and improved loading capacity, the company said.  SsangYong Motor’s Rexton Sports Khan is displayed in Seoul on Thursday. (SsangYong Motor)The longer body Rexton Sports Khan has 24.8 percent increased deck space that can be loaded w

Shock waves rocked the gaming industry and local market on Thursday upon news reports that nearly half of South Korea’s biggest game company, Nexon, is up for sale.Kim Jung-ju, founder and biggest stakeholder in Nexon’s holding company, NXC, has begun the process of selling the estimated 10 trillion won ($8.9 billion) in shares he and his wife own, the Korea Economic Daily reported. Kim has appointed Deutsche Bank and Morgan Stanley to jointly supervise the sales, the report stated, adding the n