S. Korean automaker teams up with NaaS

Chinese beauty consumers becoming more conscious of quality ingredients, a boon for Korean manufacturers: KOTRA

Hyundai Bioscience said Sunday that it will co-develop a broad-spectrum antiviral drug with the US National Institutes of Health, a federal agency for conducting and supporting medical research and the world’s largest public funder of biomedical research. A non-clinical evaluation agreement was signed on Friday between Hyundai Bioscience USA, a US-based subsidiary of the Korean pharmaceutical company, and the National Institute of Allergy and Infectious Diseases under the NIH, the compan

Google Maps offers only limited service due to security issues; Naver, Kakao still gauge profitability of costly English updates for less than 2% of users

The global commercial real estate market, hit by high interest rates and a decline in office space demand, is likely to be in a prolonged slowdown until next year, a real investment firm based in Seoul said through a report issued on Monday. While Korean investment firms are suffering from losses in their investments in office properties overseas, Mastern Investment Management said the slump in the market will continue as major economies, including the US Federal Reserve, are yet to drop their a

JP Morgan, Nomura offer lowest projections below 2 percent

Starbucks Korea on Monday unveiled limited edition merchandise, including a coaster and a tumbler inlaid with mother-of-pearl, to celebrate the Liberation Day holiday celebrated on Aug. 15. The specialty coffee chain said all profits from their sales will be spent to support the preservation of cultural heritage and offer scholarships to the descendants of independence fighters. (Starbucks Korea)

Hanwha Group, South Korea’s seventh-largest conglomerate, is looking to bolster its robotics business as it plans to establish a new robotics corporation. Hanwha announced Friday that its robot and automated guided vehicle businesses under the factory automation department at Hanwha Corporation/Momentum would be split off into a new robotics firm named Hanwha Robotics. The company said the split-off is taking place to sharpen each business’ expertise. “Through the establishment

Hanmi Global said Monday that it posted 205.6 billion won ($154 million) in sales and 13.7 billion won in operating profits in the first half of this year, both record figures for the Korean construction management firm. Compared to a year ago, sales and operating profits surged 25.6 percent and 21.5 percent, respectively. Net profits also jumped 45.8 percent to 12.1 billion won during the same period. The company attributed its upbeat earnings to its global expansion despite a market slowdown a

Korean artificial intelligence startup Upstage said Monday that it is launching an industrywide alliance that is devoted to developing a large-scale language model that specializes in Hangeul, or the Korean alphabet. The 1T Club -- meaning "1 trillion token club" -- alliance brings together private firms and various organizations to provide Korean-language data totaling over 100 million words. A token refers to the basic unit of text or code used by an AI-powered language model to proc

World Scout Jamboree attendees from the Maldives depart from the LG Electronics Corporate Learning Center in Pyeongtaek, Gyeonggi Province, Sunday. The Korean tech giant invited Scouts from the Maldives and Finland to offer a tour of its business facilities and accommodation. (LG Electronics)

Hyundai Motor Co., South Korea's biggest carmaker by sales, said Monday it will launch the all-new Santa Fe SUV in the domestic market this week, with the goal of selling 28,000 units this year. The fifth-generation Santa Fe, set to go on sale on Wednesday, will be available with a 2.5-liter turbocharged gasoline engine or a 1.6 turbocharged gasoline hybrid engine, the company said in a statement. The 1.6 gasoline hybrid model sells at 40 million-48 million won ($30,000-$36,000) depending o

Cosmax Inc., South Korea's major cosmetics manufacturer, said Sunday its factory jointly built with Yatsen Holdings has begun operations in Guangzhou, China. Cosmax set up a joint venture, Yatsen Biotechnology, with the New York-listed Chinese Yatsen in 2020, and began construction of the 60,593-square-foot factory, Asia's biggest cosmetics factory. Cosmax said the factory is expected to produce 4 billion units of cosmetics a year. Yatsen, founded in 2016, runs cosmetics brands, includ

Hyundai Bioscience said Sunday it will develop a broad-spectrum antiviral drug with the US National Institutes of Health, a federal agency for conducting and supporting medical research. Hyundai Bioscience USA, a wholly owned subsidiary of Hyundai Bioscience, signed a Non-Clinical Evaluation Agreement with the National Institute of Allergy and Infectious Diseases (NIAID) under the NIH. Under the contract, Hyundai Bioscience USA will provide Xafty (CP-COV03), a candidate for COVID-19 antivirals

South Korean national carrier Korean Air has started to provide in-flight Wi-Fi connection on some of its Airbus A321neo aircraft, industry sources said Sunday. The expansion of in-flight Wi-Fi connection is part of the company’s long-term goal to expand the in-flight connection to 100 percent of its international flights. The number of Korean Air’s Airbus A321neo aircraft that provide in-flight Wi-Fi connection is currently six. Those A321neo flights operate on the routes connecting