Yoon criticizes local banks for large bonuses, but industry insiders say banking not a public good

Samsung Electronics President and mobile business chief Roh Tae-moon has hinted at the tech giant’s potential partnerships with global IT firms to develop new artificial intelligence technologies for its smartphones. Roh noted the possible partnerships at a press conference held in Malaysia on Thursday, for the launch of Samsung’s flagship Galaxy S23 smartphone lineup, according to Vietnam’s Soha News and other local media outlets. The media outlets reported the mobile chief

South Korean botulinum toxin manufacturers Hugel and Huons Biopharma announced Monday that the latest court ruling on a legal dispute between Medytox and Daewoong will not influence their botulinum toxin businesses, saying that their botulinum toxin strains would not face patent issues with Medytox. Hugel and Huons Biopharma are South Korean firms selling botulinum toxin products under the brand names Letybo and Liztox, respectively. The two companies’ announcements came after the Seoul Ce

ABL Bio, a South Korean drug maker, announced Monday that the company turned a profit last year, backed by milestone payments it received under licensing-out deals. ABL Bio said its annual sales in 2022 went up 1162.1 percent to reach 67.3 billion won ($52.7 million). The company’s annual operating profit came to 900 million won during the same period. ABL Bio’s sales in the previous year came to 5.3 billion won, while its operating loss reached 52.3 billion won. ABL Bio’s lice

Korean conglomerates have been rushing to send equipment and financial aid to Turkey and Syria to support disaster relief efforts after a devastating 7.8 magnitude earthquake on Feb. 6 that has so far left more than 33,000 people dead, and several thousands injured and in critical condition. Samsung Memory chip and smartphone maker Samsung Electronics has pledged to donate $3 million to support relief efforts in Turkey and Syria. Half of the amount will be donated to the Disaster and Emergency

Foreign investors bought listed stocks here worth a net 6.14 trillion won ($4.8 billion) in January, according to the Financial Supervisory Service on Monday. This is the highest net buying amount that South Korea has seen in nine years, since September 2013, when the total was recorded at 8.32 trillion won. It is also the first time since November 2020 that net purchases surpassed 6 trillion won. Most of the investments centered on the Kospi market. Foreign investors’ net buying of Kosp

Pension Fund turns focus to firms without controlling stakeholders

Using recycled materials may cost more, but the tech giant says it will bear the burden without raising product prices

Hyundai-Kia rank 6th, make up 4.7% of global EV market

Energy-to-semiconductor conglomerate, SK Group, has the largest number of affiliated companies among 76 local business groups with 5 trillion won ($3.9 billion) or more in assets, data showed Monday. According to South Korea's Fair Trade Commission, SK Group, the country's second-largest business group in terms of assets, had 201 affiliates as of Jan. 31. The figure went up by six from just three months ago. It is the first time for the number of affiliates among large business group

The Ministry of Science and ICT on Monday released photos of the moon taken by Danuri, South Korea's first lunar mission also known as the Korea Pathfinder Lunar Orbiter. As the KPLO underwent a testing period for about a month after it successfully entered the moon's orbit on Dec. 27, it was able to capture high-definition photos of the moon's surface and send the collected data to the Earth's ground control.

Head of Polestar Korea voices confidence in Swedish EV SUV’s design and performance in heightened competition

By Song Sang-keun Football, Pho noodles, and Ao Dai first come to Korean minds when it comes to Vietnam, but the country is less well-known for its natural environment that favors fisheries development. The northern part of Vietnam is home to expansive mangrove forests and mudflats, which has enabled the growth of shellfish aquaculture that has supported local economies since the mid-1990s. In recent years, however, Vietnam has suffered a drastic decrease in shellfish production due to overfishi

President Yoon Suk Yeol has expressed his commitment to rooting out illegal acts by labor unions at industrial sites, saying doing nothing against them would raise questions about what the government exists for, his office said Sunday. Yoon made the remark during a meeting with about 150 government ministry employees held in the central administrative city of Sejong on Tuesday last week, stressing that a key point in labor reform is to ensure the rule of law, the office said in a statement. &q

Marketability remains lukewarm as human drugs widely used, awareness still low among pet owners