Apple is seeking ways to make the cycle tracking application featured in its latest Apple Watch series available for users in Korea. The US tech giant recently reached out to South Korean authorities to ask for a regulatory sandbox approval, according to industry sources Tuesday. Apple Korea inquired with the Ministry of Science and ICT about the process of using a regulatory sandbox system, a measure that temporarily exempts the enforcement of regulations on new products or services for a certa

Fashion and cosmetics retailer Shinsegae International said Tuesday it appointed a luxury fashion expert William Kim as its new CEO, in a bid to strengthen the company's luxury fashion business and sharpen the company's digital edge. Kim's previous career includes having served as a chief financial officer at Gucci, where he worked in teams with partners including Stella McCartney, Alexander McQueen and a number of luxury timepiece brands including Bedat & Co. According to Shi

Total of 775 Bentleys sold in Korea in 2022

South Korea’s top shipbuilder Korea Shipbuilding & Offshore Engineering said Tuesday it has landed its first contract of the year worth 971 billion won ($784 million). The company said it sealed the deal with a shipping company in Oceania to build three large liquefied natural gas carriers, each measuring 200,000 cubic meters in size. The company declined to reveal the name of the client, citing contract conditions. The carriers will be manufactured by Hyundai Heavy Industries, one of

Samsung Electronics unveiled Tuesday its latest 200-megapixel image sensor, the Isocell HP2, with significantly improved resolution and upgraded picture quality for premium smartphones. The new image sensor packs 200 million 0.6-micrometer pixels in a 1/1.3-inch optical format, a sensor size that is widely used in 108MP main smartphone cameras, according to Samsung. This enables the latest high-end smartphones to create higher resolutions, while minimizing the camera bumps on the devices. &ldquo

US beef accounted for more than 50 percent of South Korea's total imports of the meat in 2022, taking up the top spot for six years, industry data showed Tuesday. Asia's fourth-largest economy imported 256,910 tons of American beef last year, or 54.1 percent of its total beef imports of 474,511 tons, according to the data from the US Meat Export Federation. The proportion was up 2.8 percentage points from a year earlier. Last year's volume and market share of US beef imports marke

Nuclear power, aerospace, biotech considered key beneficiaries of planned funding

Korea Herald correspondent SAN FRANCISCO -- ABL Bio will release the results of early stage clinical trials regarding the company's oncology treatment candidates in this year, with hopes in license-out opportunities. “ABL Bio expects to introduce favorable clinical data regarding the company’s oncology treatment candidates,” ABL Bio CEO Lee Sang-hoon said on Thursday during an interview held on the sidelines of the 41th JPMorgan Healthcare Conference in San Francisco. ABL

LG Energy Solution, South Korea’s largest electric vehicle battery maker, and Hanwha Group, a defense and energy giant, are teaming up to seek business synergy in the burgeoning battery market, they said in a statement on Monday. According to the statement, LG Energy Solution and three Hanwha companies – Hanwha Q Cells, Hanwha Momentum, and Hanwha Aerospace – signed a memorandum of understanding earlier in the day to bolster bilateral ties. Under the MOU, the two agreed to secu

Hyundai Motor Group said Monday it would operate 58 vehicles during the World Economic Forum in the Swiss city of Davos this week to promote South Korea’s bid to host the 2030 World Expo in Busan. As a means to echo Busan’s sustainability vision for the World Expo, the carmaker offered 45 EV models. The list includes the luxury brand Genesis’ 18 Electrified G80, 8 Electrified GV60, 4 Electrified GV70 and Hyundai’s 15 Santa Fe Plugin Hybrid models. The cars, wrapped wi

South Korea’s Ministry of SMEs and Startups said Monday it has forged a partnership with the United Arab Emirates to boost cooperation in nurturing startups. The ministry signed a memorandum of understanding with the UAE’s Ministry of Economy to step up as a major partner country for Dubai’s Entrepreneurial Nation 2.0 project. The state-led project aims to nurture 8,000 small and medium-sized firms and 20 unicorns that is worth more than 1 trillion won ($810 million) in corpora

Asiana Airlines workers on Monday add more seats to an A330 aircraft that has been used as a cargo airplane during the coronavirus pandemic. The airliner said it has completed renovation work on a total of seven A350 and A330 airplanes in preparation for a recovery in international travel. Despite pandemic disruptions, the company could earn additional revenue worth 370 billion won ($300 million) from cargo shipping.

SK Group, South Korea’s semiconductor-to-telecommunications conglomerate, said Monday it had signed a partnership deal with the United Arab Emirates’ sovereign wealth fund to tackle climate change together by establishing a carbon credit market in Asia. SK Group Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, signed a memorandum of understanding with Khaldoon Khalifa Al Mubarak, CEO and managing director of the Mubadala Investment Compa

South Korean internet giant Naver on Friday unveiled a slew of new projects aimed at giving Poshmark, the US reselling platform it acquired early this month, a technological edge and returning it to profit. Naver took over Poschmark for $1.31 billion on Jan. 6, in its largest-ever deal. As their first collaboration, called "Posh Lens," Naver will be providing Poshmark with the internet firm's visual search technology to allow users to be able to find products they want by taking p

Regulators up pressure on Son to resign over Lime fund scandal