Naver said Monday it will inject 5.2 billion won ($3.6 million) over the next five years, along with Canadian social storytelling platform Wattpad which has become part of the company last year, to conduct joint research on AI-based content service platforms with the University of Toronto. South Korean internet giant said this study would allow application of advanced, exclusive technologies to Wattpad’s content platform leading to more innovative user experience. Naver bought Wattpad at

Retailers cancel more events, postpone Christmas light show out of respect for victims

South Korea’s Ministry of Energy said on Monday it would establish the nation’s first research institute dedicated to dismantling nuclear power plants, for the safe disposal of nuclear power plants whose operations have been permanently suspended. In a groundbreaking ceremony held in Ulju-gun, located on the border between the southeastern port cities Busan and Ulsan, the Ministry of Trade, Industry and Energy said that construction of the institute is expected to be completed by the

South Korean memory chip maker SK hynix said it is not pursuing a plan to acquire a minority stake in the United Kingdom-based semiconductor intellectual property firm Arm, a filing showed Monday. "(SK hynix) has put various strategic options on the table to strengthen our competitive edge and enhance shareholder value, but we hereby notify that there is no ongoing process for consortium-based acquisition of Arm as of now," read the firm's recent filing with the Financial Supervis

Hyundai Oilbank has been cooperating across industries to improve its environmental impact, the company said in a statement Monday. The South Korean oil company said it has signed a business agreement with petrochemcial firm Lotte Chemical and retailer LG Household & Health Care on Oct. 17 to kick off its joint ecofriendly plastic project. According to the agreement, the three companies will jointly launch plastic products created solely from materials derived from pyrolysis of waste plastic

FRANKFURT -- Samsung Biologics, the world’s largest contract manufacturing and development organization by production capacity, is looking to attract global customers at this year’s Convention on Pharmaceutical Ingredients Worldwide, officials said Monday. CPhI is one of the biggest international pharma industry events that draws leading businesses and professionals from across the globe. Taking place in major European cities each year, this year’s event is held in Frankfurt, G

Exports of passenger cars advanced 30.1 percent in the third quarter of the year from a year earlier, data showed Monday, on the back of growing demand for eco-friendly vehicles. Carmakers here shipped passenger cars worth a combined $12.6 billion during the July-September period, up from $9.7 billion a year earlier, according to the data compiled by the Korea Customs Service. The number of cars shipped came to 590,000, also up 26.8 percent over the period. South Korea's imports of passenge

South Korea's industrial output fell in September for the third month in a row, data showed Monday, with retail sales and facility investment also losing ground, hinting the country's economic recovery may be losing steam. Industrial production declined 0.6 percent on-month in September, following a 0.1 percent on-month decrease the previous month, according to the data from Statistics Korea. From a year earlier, however, the output rose 3.1 percent. Output in the mining, manufacturing

South Korea’s major business groups on Sunday offered condolences to victims and their families following an overnight crowd surge that killed more than 150 people celebrating Halloween in the bustling district of Itaewon in Seoul on Saturday, also calling for the reestablishment of the public safety system. The Korea Chamber of Commerce and Industry, the largest business lobby here, representing some 180,000 large and small companies, released a statement saying it shares the same view

Retailers called off a series of Halloween-themed marketing events following an overnight crowd surge that killed at least 153 people, among some 100,000 who turned up for Halloween festivities in Itaewon, a popular nightlife district in central Seoul, late Saturday. Many retail companies here had planned to use Halloween to promote their products catering to young consumers, but events have quickly been canceled following the government’s announcement of a national mourning period throu

Building safe work environment is a must, but just punishing CEOs won't work for that change, critics say

US beer brand and official sponsor of the FIFA Qatar World Cup Budweiser is hosting a World Cup viewing event in Seongsu-dong, eastern Seoul, in November, Korea distributor Oriental Brewery said Friday. Attendees can watch South Korea’s national football team play its group matches against Uruguay, Ghana and Portugal on Nov. 24, Nov. 28 and Dec. 2, respectively. The game will be streamed on a large screen, and cultural events including music and dance performances will be held on the sidel

Unique character released Thursday for mobile version

Hyundai Motor Group Executive Chair Chung Euisun visited Slovakia to request its support for South Korean port city Busan’s bid to host the World Expo in 2030, to the auto giant said Sunday. Chung visited Slovakia on the leg of his European trip to meet country leaders. He met with Czech Prime Minister Petr Fiala last week. Slovakia holds a significant status as the chair country of Visegrad Group, a cultural and political alliance of four Central European countries that also includes Czec

Greenpeace urges Samsung, LG to set up climate goal involving supply chain