South Korean pharmaceutical giant Yuhan announced Monday that it had licensed out its new clinical-stage lung cancer drug to Janssen Biotech in a deal potentially valued at up to $1.25 billion.　Yuhan said it had entered a licensing and cooperation agreement with Janssen to develop a novel clinical-stage therapeutic candidate for the treatment of patients with non-small cell lung cancer, or NSCLC.　Under the terms of the agreement, Yuhan will receive an upfront payment of $50 million and is eligib

Samsung Electronics Co. slightly expanded its share in the North American smartphone market in the third quarter despite a drop in overall shipments, a report released by industry tracker Strategy Analytics showed Monday.The South Korean tech giant took up 27.8 percent of the market in terms of shipments over the July-September period, up from 25.7 percent last year. The total number of handsets sold, however, dropped 400,000 units from on-year to 10.3 million, the data showed.Samsung's third-qu

South Korea's exports of its traditional chicken soup to China shot up in 2017 from three years earlier thanks to the dish's growing popularity in the world's most populous nation, data showed Monday.Exports of chicken soup, called "samgyetang" here, to China came to $100,339 last year, up 22 times from three months earlier, according to the data from the Agro-Fisheries & Food Trade Corp.Samgyetang is a traditional chicken soup made with a whole young chicken stuffed with ginseng, sticky rice an

LG Electronics Inc. said Monday it inked an agreement with E-mart Inc., a retail giant in South Korea, to develop a new type of service robot that can assist shoppers at supermarkets.Under the agreement, the two companies will develop what they call a smart-cart robot that can automatically identify obstacles and follow shoppers as they walk through aisles. LG said the new robot will free visitors from the hassle of pushing heavy carts by themselves. Shown in the picture released by LG Electroni

UK physicist urges carmakers to step beyond ‘car selling’ by embracing technology

Following the revision of the licensing system for low-cost carriers, the government said it will complete a review of license applications for new LCCs by the first quarter next year.According to the Ministry of Land, Infrastructure and Transport, budget air carriers including Fly Gangwon, Air Premia and Aero K have submitted applications for business licenses. Other companies, including Air Daegu and Jeju Oreum Air, are expected to hand in applications this week.  Air Premia (Air Premia)Under

SK hynix has developed the world’s first 4D NAND flash memory using both Charge Trap Flash and Peri Under Cell technologies, with a plan to start mass production this year, according to the chipmaker on Sunday. SK hynix said it developed 96-layer 512-gigabit NAND flash, named CTF-based 4D NAND Flash to distinguish it from current 3D NAND flash technologies.SK Hynix’s 96-layer 512-gigabit NAND flash (SK hynix)The NAND flash memory chip is widely used for the storage of mobile devices and data cen

Global companies push Korean suppliers to follow green initiatives

Sales of Hyundai Motor Co.'s premium Genesis marque have surpassed a cumulative 200,000 units three years after its official launch, industry data showed Sunday.According to the data, the total sales of Genesis vehicles reached 206,882 as of the end of October, touching the 200,000 mark for the first time since November 2015, when Hyundai Motor launched the sub-luxury brand. (Yonhap)With global sales of 555 units of Genesis cars in the first year, 58,916 units were sold in the following year and

Samsung Electronics Service Co. said Friday it will directly hire 8,700 workers from its subcontractors, the latest in a string of efforts by South Korean companies to strengthen employees‘ job security.　The move came roughly seven months after the repair service provider of South Korean tech giant Samsung Electronics Co. vowed to provide the outsourced workers and other contract staff members with more stable positions.　Samsung Electronics Service said 7,800 repair experts will start their work

 With the shares he inherited from his father, LG Group Chairman Koo Kwang-mo has become the largest shareholder in LG Corp., a holding company that controls the nation’s fourth-largest conglomerate, the company said Friday.Koo inherited an 8.8 percent stake in the holding company from the late Chairman Koo Mon-moo, who had held an 11.3 percent stake. The new chairman now holds a 15 percent stake in LG Corp., according to the statement. Previously, he held 6.2 percent.    LG Chairman Koo Kwang-m

Korean tech startups seek ways to bring market-ready technology innovations to customers at Naver D2 Startup Factory conference

Samsung Electronics Co. took up 20 percent of the global smartphone market in terms of shipment volume in the third quarter of 2018, industry tracker Strategy Analytics' data showed Friday, falling slightly from the same period last year on the rise of Chinese rivals.The South Korean tech giant shipped 72.3 million units of smartphones over the July-September period, Strategy Analytics said, compared with 83.4 million units posted in the same period last year, when Samsung took up 21.2 percent o

More than 200 people had lined up in front of the Apple Store in Garosu-gil, Seoul, as of 7 a.m. on Friday -- the day of the iPhone XR, XS, XS Max and Apple Watch Series 4’s launch in South Korea. Some had come to queue from the night before. Hours later, at 10 a.m., the line showed no signs of shrinking. The new models are by far the most expensive of Apple Inc.’s smartphone creations, with a storage capacity of up to 512 GB. The iPhone XS Max 512 GB is the priciest of the selection this time,

The first and only Apple Store in Korea will introduce the latest Apple smartphones on Friday: Get ready for the iPhones XR, XS and XS Max. Presales through local carriers SK Telecom, KT and LG Uplus closed Thursday, and -- despite hefty price tags starting at 1 million won ($880) -- the new phones have set a record that slightly surpasses the presales volume of previous iPhones 8 and X. iPhone XS (Yonhap)The Korea Herald will visit the store early Friday morning to see how the ultra-expensive n