Global tobacco giant British American Tobacco Group discussed its future design strategies during a design conference held in Seoul last week, highlighting the social and ethical responsibilities industrial designers must undertake when designing heating tobacco products, according to the company on Monday. "The role of designers is changing, from simply designing products to assuming social and environmental responsibilities. This (new role) is not a choice for individual designers to mak

South Korean pharmaceuticals firm SK Bioscience is ramping up efforts to enhance cooperation with global health care officials, especially in the biopharmaceuticals field in the post-pandemic era. According to the company on Monday, Jean Kaseya, director general of the Africa Centers for Disease Control and Prevention, visited the Korean firm's headquarters on Friday to discuss collaborative measures supporting African countries in developing their own vaccines. During the meeting, the tw

LG Electronics announced Monday that it has launched a research facility in Alaska to enhance the resilience of modern heating and cooling systems, collectively known as HVAC systems, in extremely cold conditions. The LG Advanced Cold Climate Heat Pump Laboratory is part of a collaboration that includes the University of Alaska Anchorage and the University of Alaska Fairbanks. The partnership, made official on Monday as the Consortium for Advanced Heat-pump Research, will tackle the challenge of

Korean pharma plans to debut new microneedle-based treamtent by 2028

South Korean oil refiner S-Oil said Monday it had delivered 140 million won ($107,700) and citizen honor awards to recognize 21 citizens who accomplished feats of heroism by risking their lives to help others this year. Under the partnership with Korea National Council on Social Welfare, the 2023 Hero Neighbors Award ceremony was held at S-Oil headquarters in Seoul, on Monday. A 58-year-old bus driver identified by his family name of Lee, who died while saving his passengers in Osong, North Chun

FSS Gov. Lee Bok-hyun emphasizes importance of building trust with retail investors

South Korean commercial banks are considering loan syndication for the Polish government to finance a weapons purchase deal worth 30 trillion won ($23.1 billion) with Korean arms companies, as state-run banks hit their loan limit for the contract. South Korea's Ministry of Defense on Monday held a meeting with officials from five top local banks -- KB Kookmin, Shinhan, Hana, Woori and NongHyup -- to discuss providing loans to the Polish government for an arms export deal, according to sou

Family members of Samsung Group, South Korea’s biggest conglomerate, are selling stakes worth some 2.57 trillion won ($1.97 billion) to pay their inheritance tax bill, according to a regulatory filing on Monday. Hong Ra-hee, the widow of the late former Samsung Group Chairman Lee Kun-hee, and her two daughters, Lee Boo-jin and Lee Seo-hyun, signed a trust contract with Hana Bank to dispose of stakes worth about 2.57 trillion won combined, on Oct. 31. The Samsung heirs began their five-year

Carmaker seeks to reduce China reliance, expand cost-effective EV lineup

South Korean food giant CJ CheilJedang announced Monday that it has launched the delivery service brand “Bibigo to-go” in the United Kingdom, in an effort to ramp up Korean food’s presence in the global market. Under a partnership with the UK-based food brand operator Peckwater Brands, Bibigo to-go is now available on major food delivery platforms including UberEats, Deliveroo, and Just Eat. The menus were mainly developed from the Bibigo products sold in the UK. Before the off

South Korea’s e-commerce giant Coupang said Monday it has opened its second logistics center in Taiwan a year after starting its foray into the market, with plans to launch a third one in the first half of next year. The new fulfillment center, located in the northwestern city of Taoyuan, is a highly automated facility using artificial intelligence and machine learning to predict and analyze customer demand and inventory. The inaugural ceremony of the second fulfillment center was held in

Swedish automaker’s facelifted all-electric sedan boasts enhanced performance with higher efficiency

President Yoon Suk Yeol considers illegal stock short sellers as a serious social "malady," his office said Sunday following the financial regulator's decision to ban stock short selling through the first half of next year. The remarks came as the Financial Services Commission announced the ban on stock short selling, effective starting Monday through the end of June 2024, citing concerns about growing market volatility and the illegal short selling practices undermining market st

Members of Samsung Group's owning family are set to sell nearly 2.6 trillion won ($2 billion) worth of shares in Samsung affiliates to cover inheritance taxes, a regulatory filing showed Sunday. Since the death of late Samsung Chairman Lee Kun-hee in October 2020, his family members have been paying inheritance taxes in installments for the assets inherited according to a five-year plan. The total inheritance tax amounted to 12 trillion won. According to the regulatory filing with the Fin

South Korea's financial regulator said Sunday that it will temporarily ban stock short selling until the second half of next year, amid efforts to crack down on illegal short selling by global investment banks. The move will be effective as of Monday and until the start of July 2024, according to the Financial Services Commission. "(The FSC) has decided to fully suspend stock short selling until (the end of) the first half of next year since there exist concerns that the expansion of