Richard Yonck, founder of Intelligent Future Consulting, says S. Korea will play major role in shaping future

Renault Korea has enhanced the luxury appeal of its popular sport utility vehicle QM6. One distinctive feature is the use of Alcantara fabric for the highest Premiere trim. Alcantara is a suedelike fabric noted for its durability and carbon-neutral manufacturing process. A substitute for leather and vinyl, the fabric is increasingly being used in luxury vehicles. For the QM6, seats and armrests are covered in black Alcantara. Driving assistance features have also been bolstered. From the midrang

South Korea’s flag carrier Korean Air is reportedly in talks with multiple Southeast Asian airlines to share its Incheon-Los Angeles route in an apparent attempt to get antitrust approval from US regulators in its acquisition of the cash-strapped crosstown rival Asiana Airlines, according to industry sources on Monday. The unprecedented talks come in response to the US requiring Korean Air to submit plans on how to ensure competition by giving a specific name of the air carrier that will o

Samsung Electronics is projected to see a 19 percent drop in quarterly sales during the July-September period, which will drop the tech giant to the second place in the world's semiconductor market by sales following Taiwan-based foundry company TSMC's swift rise to the top, data showed Monday. The third-quarter revenue of Samsung's chip business -- which oversees memory products, foundry services and non-memory products like mobile processors -- is forecast to amount to $18.29 billion, down 19

Jeju Air, South Korea’s leading budget carrier, said Monday it has raised a combined 320 billion won ($232 million) as part of a new fleet modernization plan. The airliner said it secured the funds by selling 273 million new common shares starting Aug. 26. This paid-in capital increase will be used to boost the company's facility budget, it added. AK Holdings, Jeju Air’s largest stakeholder, issued 130 billion won-worth of exchangeable bonds to partake in the paid-in capital increase

Lee Jae-yong seen accelerating moves to complete succession process

Samsung Electronics Co. is expected to announce its road map this week to achieve carbon neutrality by 2050, sources said Monday, as the tech behemoth bolsters its net zero transition in line with the global industrywide trend. The company is also likely to declare a plan to join the RE100, a global corporate initiative designed to shift energy use to renewable sources as a way to respond to climate change and other environmental issues, according to industry sources familiar with the matter. Sa

China’s largest TV maker mimics success story of Samsung, LG

Internet portal giant Naver Corp. was indicted Thursday for allegedly violating fair trade law by abusing its market dominant position in dealing with a real estate market information partner. 　 　The Seoul Central District Prosecutors Office charged Naver over allegations that it blocked the unspecified market information provider from selling data to Kakao Corp., Naver‘s main rival, between May 2015 and September 2017. 　 　The case was launched following a criminal complaint filed by the

South Korea’s business giants have joined hands in a nationwide campaign to promote Busan’s bid to host the 2030 World Expo. The government formally submitted Busan’s bid to host the expo in 2030 to the Bureau International des Exposition (BIE) in Paris, the international body with 170 member states that coordinates the hosting of world expos. Rome, Riyadh and Ukraine’s Odesa have also made bids to host the event. Samsung, SK, Hyundai Motor, LG and other conglomerates hav

HLB’s precision cancer drug Rivoceranib has demonstrated the world’s longest median overall survival, or mOS, in phase 3 clinical trials of liver cancer, the South Korean biopharmaceutical company said Thursday. According to HLB, Rivoceranib’s mOS recorded 22.1 months to mark the first drug in the world to break the 20-month barrier against liver cancer. The company earlier released the abstract of phase 3 concomitant clinical trials of Rivoceranib and anticancer drug Camreli

With inflation showing no signs of abating, South Koreans are likely to suffer more financial burden from eating out after the Chuseok holiday, as even low-cost foods like gimbap see a surge in price. The average price of gimbap, one of the more budget-friendly meals, in Seoul surged 2.6 percent to surpass the 3,000 won ($2.2) mark as of August compared to a month earlier, according to data from the Korea Consumer Agency. Among restaurant meals, the price of pork belly increased the most, fro

SK Bioscience has completed the application for an emergency use listing of SKYCovione -- South Korea’s first homemade COVID-19 vaccine -- with the World Health Organization, the local vaccine developer said Thursday. The WHO’s emergency use listing is the global health body’s procedure for reviewing vaccines, therapeutics and in vitro diagnosis with the goal of expediting the availability of such products to people in case of a public health emergency. As the WHO’s asse

John L. Perez, senior vice president at AstraZeneca, says immunocompromised people continue to fill up hospitals

South Korea shipped a total of $7 billion worth of electric cars last year, taking the fourth spot in terms of exports by value, following Germany ($28.8 billion), the United States ($10.1 billion) and China ($10 billion), data from a report showed Thursday. Of the world’s top 10 EV exporters, six countries were from Europe. Japan ranked eighth with $4.6 billion EV exports. According to data by Korea International Trade Association, the country's EV exports jumped 112.2 percent in the last