INCHEON -- Some 1,000 global aviation experts and airport industry insiders from 70 countries gathered at Incheon International Airport Corp.’s third annual World Aviation Industry Conference on Wednesday, an event aimed at exchanging insights on the future growth potential of global aviation and airports. The three-day event officially kicked off with IIAC CEO Chung Il-young’s opening remarks, in which he stressed the airport’s role in creating synergy with aviation service.Participants includi

South Korea's financial regulator on Wednesday started a review on another suspected violation of accounting rules at Samsung BioLogics Co., about three months after it concluded that the biopharmaceutical company intentionally violated accounting rules. The regulatory probe centers on questions about Samsung BioLogics' sudden profits in 2015 after years of losses. Samsung BioLogics reported a net profit of 1.9 trillion won ($1.67 billion) that year after changing the method used to calculate th

Exports of South Korean beer have jumped more than 50 percent so far this year compared with the same months last year, driven by growing popularity in China, data showed Wednesday.Figures from the Agro-Fisheries & Food Trade Corp. showed exports of $121 million in the January-September period, up 56.3 percent from $78.2 million in the same months last year. The total up to end-September already has exceeded the $112.4 million for all 2017, according to the data.Shipments to China this year reac

JINCHEON, North Chungcheong Province -- Hanwha Q Cells Korea, the solar cell and module manufacturer under Hanwha Group, on Tuesday revealed its factory in North Chungcheong Province, as it seeks to top the global solar power market backed by the smart factory and improved management efficiency.Hanwha Q Cells Korea’s smart factory in Jincheon, North Chungcheong Province, is the world’s largest single solar cell plant, where 2.2 million solar cells are produced daily, the company said.Sitting on

Tech giant records second-highest sales, propped up by peak season for semiconductors despite slow smartphone sales

South Korea's industry minister has vowed to come up with support packages for the auto and shipbuilding companies to tackle challenges facing the sluggish manufacturing sectors. Sung Yun-mo, minister of trade, industry and energy, put top priority on revitalizing the key manufacturing sectors as local parts makers have been grappling with falling demand and financial problems. (Yonhap)"Auto and shipbuilding industries are the most hard hit sectors in the short term," Sung said in a meeting with

Samsung Electronics Vice Chairman Lee Jae-yong, the de facto leader of top South Korean conglomerate Samsung, has met Vietnamese Prime Minister Nguyen Xuan Phuc in Hanoi and vowed to expand the company's investment in the Southeast Asian country.The top executive left for Vietnam on Tuesday and met the Vietnamese premiere on the day of his arrival.During the meeting, Lee claimed that Samsung will continue to make long-term investments in Vietnam and expand its business in the country."Samsung ha

South Korea's top automaker, Hyundai Motor Co., said Tuesday it will relocate around 300 workers from its truck production line, due mainly to the falling demand for such vehicles from the weakening construction industry.Hyundai said it reached an agreement with its labor union to reassign some of the workers from the truck production line of the Jeonju factory, located around 190 kilometers south of Seoul.Around 210 employees will be sent to other lines in the factory, while others will be disp

South Korea’s flagship red ginseng drink Hong Sam Won from Cheong Kwan Jang is not only the oldest of its kind, but also the longest-running leader, maintain its top spot for 30 years. Backed by such consistent popularity and the proven quality of the red ginseng drink, Hong Sam Won has been exported worldwide, particularly proving popular in the United States and China. The drink had been sold mainly at Korean supermarkets in the US until 2014. Its distribution began stretching out to Costco in

Kakaopay Corp., a South Korean mobile payment platform, said Tuesday its "all-in-one" barcode membership has attracted more than 5 million users.Kakaopay said its members can accumulate and use points in making transactions in 65,000 stores, including convenience stores and gas stations, across the country just by showing their barcodes in the mobile messenger KakaoTalk. (Yonhap)Kakaopay -- which is similar to the American online payment service PayPal -- also allows people to preregister their

Samsung heir Lee Jae-yong departs for Hanoi at Seoul Gimpo International Airport on Tuesday. (By Song Su-hyun / The Korea Herald)Lee Jae-yong, heir and vice chairman of Samsung Electronics, on Tuesday left for Hanoi with a scheduled meeting with the Vietnamese prime minister, possibly on making new investments in the country. The Samsung heir’s two-day visit to Vietnam is expected to serve as a critical chance for the tech titan to mainly revise its smartphone business, the competitiveness of wh

Posco Engineering and Construction is seeking tenants to fill the studio apartments and store spaces of the Songdo The Sharp Triple Tower apartment complex set to be built in Songdo, Incheon.The Songdo The Sharp Triple Tower consists of two buildings with three underground floors and 23 above-ground floors. The first two floors are available to store owners. And as of now, only parts of the first floor are available to prospective tenants.From the third floor up, the building houses studio apart

Korean tech startup Deep Medi develops solution to measure blood pressure levels using ordinary phone camera

South Korea’s leading liquor maker Hite Jinro said it aims to become a global liquor company by 2024, the year the company celebrates its 100th anniversary.  Hite Jinro’s low-alcohol fruit-flavored soju Jinro Plum is advertised during a Korean Parade held at an annual K-town Festival in Manhattan, New York, on Oct 6. (Hite Jinro)According to Hite Jinro, the company has integrated its operating system at overseas branches in the US, Japan and China so they can better perform localization and mark

Shinhan Bank said Tuesday it signed an agreement with Indonesian financial technology firm Akulaku to jointly offer digital banking services in the Southeast Asian country. Under the agreement, Shinhan Bank and Akulaku, which operates a consumer installment loan platform, will jointly develop digital banking services and other consumer finance services.  (Yonhap)Akulaku has about 13 million registered users and 3 million people use its online shopping and consumer installment loan services per m