Shares of Samsung BioLogics surged by as much as 26 percent Tuesday, following the Korea Exchange’s decision on Monday to resume their trading after deliberating the weight of local financial regulators’ conclusion that the company had breached accounting rules. 　After rallying throughout the day, the shares closed at 394,000 won ($349), raising the company’s market cap to 26.69 trillion won and making it the fifth-largest company listed on South Korea’s main bourse Kospi.The development came af

LG CNS, the information technology services unit of South Korea’s LG Group, has partnered with Korean public cloud provider Megazone to expand the scope of its cloud business, the company said Tuesday.The two companies signed a memorandum of understanding in Seoul, agreeing to jointly research and commercialize cloud platforms, exchange resources and partner for global business expansion.(LG CNS)Under the partnership, LG CNS will combine its large-scale cloud service capabilities with the public

CHUNGJU, North Chungcheong Province -- Hyundai Motor Executive Vice Chairman Chung Eui-sun on Tuesday introduced the automaker’s long-term plan to manufacture 500,000 units of fuel cell electric vehicles here annually by 2030 in an effort to overtake rivals Japan and China in the FCEV market.With these goals in mind, Hyundai Mobis, the auto parts supplier, held a groundbreaking ceremony for its second hydrogen fuel cell stack factory, which when complete is expected to produce stacks for some 40

LG Electronics will unveil a beer-brewing machine at Consumer Electronics Show 2019 in Las Vegas in January with the aim of leading the market in the widely popular home-brewing trend, the company said Tuesday. Dubbed “LG Home Brew,” the newest brewer is an automated beer-making machine, equipped with LG’s proprietary brewing technology supported by its inverter compressor and automatic temperature- and pressure-control technologies, the company said. The brewer works like an espresso machine. U

A cross-border power grid system that would connect South Korea with China, Russia and Japan is expected cost over 7 trillion won ($6.2 billion) to build, a state-run utility firm said Tuesday.In a feasibility report submitted to parliament, the Korea Electric Power Corp. said connecting the electricity system between the four nations for the so-called Northeast Asia super grid would cost around 7.2 trillion to 8.6 trillion. (Yonhap)KEPCO estimated 2.9 trillion won for connecting China's eastern

Samsung Electronics heir apparent Lee Jae-yong headed to the Maldives on Monday after attending the prewedding festivities of Isha Ambani, the daughter of the chairman of India’s biggest telecom group Reliance Jio, The Korea Herald confirmed Tuesday. Lee on Friday left for Udaipur, a city in the western Indian state of Rajasthan, to attend the event that drew hundreds of the world’s celebrities, politicians and business moguls. The prewedding festivities were held over the weekend, including a p

Newly-appointed SK hynix CEO Lee Seok-hee said Tuesday the global market for memory chips is anticipated to continue to grow despite short-term tumbles, claiming the company should devise strategies based on long-term visions."Although there will be short terms ups and downs, it is evident that the chip industry will maintain growth led by memory products," Lee said in his inauguration speech. SK hynix CEO Lee Seok-hee (Yonhap)"While preparing for some cold spells, we should also prepare for the

The financial watchdog has called for brokerages, futures and investment advisory firms to strengthen their internal control systems, after a series of blunders that raised concerns about the nation's stock trading system, officials said Tuesday. The Financial Supervisory Service said it held a meeting with executives at the financial firms on Monday during which they discussed about measures to address worries over internal control systems.  (Yonhap)In October, the FSS unveiled measures to stre

(AP) - Google is still having trouble protecting the personal information on its Plus service, prodding the company to accelerate its plans to shut down a little-used social network created to compete against Facebook.A privacy flaw that inadvertently exposed the names, email addresses, ages and other personal information of 52.5 million Google Plus users last month convinced Google to close the service in April instead of August, as previously announced. Google revealed the new closure date and

Samsung Electronics Co. sold more than 110,000 units of its convertible laptop, Pen, up till last month after the device was released in the local market in December 2017, industry sources said Tuesday.Considering the popularity, the South Korean tech giant is expected to sell 120,000 units of its versatile laptop, which can also function as a tablet PC, by the end of this year. (Yonhap)The sales performance is significant as the size of the South Korean market for laptops has been decreasing ov

Medicine sales at convenience stores have more than doubled over the past five years, primarily for Tylenol, data showed Tuesday.Records from the Health Insurance Review & Assessment Service said 34.47 billion won ($30.55 million) worth of nonprescription drugs were purchased at convenience stores last year, up from 15.43 billion won in 2013. (Yonhap)The government allowed convenience stores to start selling medicine in November 2012 to fill in for late nights and weekends when many pharmacies a

South Korea will push to revise the progressive electricity rates to better handle power supply and demand, and lessen the burden on households, the energy ministry said Tuesday.A task force team composed of government and industry officials, as well as experts and consumer groups, started its first meeting to review the current residential electricity billing system, the Ministry of Trade, Industry and Energy said. (Yonhap)The state-run Korea Electric Power Corp. currently applies the three-sta

POSCO Daewoo Corp. said Monday that it will conduct exploration drilling at an offshore well in Myanmar.(Yonhap)The South Korean trading company said in a regulatory filing that it has secured the right to drill at the A-3 well in the first quarter of 2020. It said 105.3 billion won ($93.3 million) will be invested into the project from January 2019 onwards.The company said that it has been carrying out detailed artificial earthquake wave evaluations of the area and concluded there is a good cha

South Korean mobile carrier KT announced Monday its plan to compensate those who suffered from a network blackout caused by a fire at its regional branch last month, including the exemption of telecom bills worth up to six months.In addition to its initial plan to shave off one-month bills for both landline and wireless service subscribers among the victims, which largely included small merchants in the Seodaemun District, northern Seoul, the operator decided to exempt fees worth up to six month

Samsung Electronics Co. said Monday it has expanded the number of artworks that can be displayed on its premium The Frame TVs to a whopping 1,000 by joining hands with more museums around the globe.The Frame is a high-end TV that comes with a stylish frame design to display artwork or photos when not in use. (Yonhap)Samsung said it recently concluded arrangements with Italy's Uffizi Galleries, the Netherland's Van Gogh Museum and New Zealand's Te Papa to provide 62 more artworks through The Fram