Samsung Electronics is one of many South Korean companies who have taken on reforming the use of honorific titles in the workplace, aiming for a more horizontal culture and removing hurdles that might have stifled employees’ creativity. The tech giant appears to have made a step toward this goal recently, namely from upper management.　 Samsung co-Chief Executive Officer Han Jong-hee told staff to call him by the initials of his given name rather than honorific expressions for his job ti

Korean drug makers enter new round of legal battle over botulinum toxin strains

  　Instant noodles captured the top spot in production among food products in South Korea in 2020 on a surge in exports amid the coronavirus pandemic, data showed. 　The output of instant noodles, or “ramyeon” in Korean, stood at 1.93 million metric tons in 2020, up a whopping 231 percent from a year earlier, according to the data from the Ministry of Food and Drug Safety. 　Ramyeon’s ranking in terms of production was up 12 notches from the previous year. 　Carbonated drink

Do-everything services gain popularity amid concerns about security and working conditions

Tech rivals finalizing talks to start panel shipments as early as September

Experts say virtual humans reflect human desire for perfection, while others call them technically evolved versions of animation characters born for commercial use

South Korean trading firm Posco International said Thursday that it has completed an acquisition of Australian energy company Senex Energy, as part of its effort to put more focus in eco-friendly energy businesses.  The Korean firm clinched a deal in December last year with Senex Energy to own 50.1 percent of shares of the Australian company at 405 billion won ($334 million). It took three months to receive authorities’ approval. The latest acquisition marks the company’s fir

Forget about concerns of kimchi keeping its freshness and leaking its “unique smell” when shipped overseas. Korean companies are seeking ways to expand their kimchi exports by adopting new packaging methods, increasing overseas production and obtaining scientific proof that the traditional side dish is beneficial to one’s health. The state-run Korea Agro-Fisheries & Food Trade Corp. announced Thursday it has launched a new kimchi product that can improve bowel movement an

SK Bioscience will look to spend “trillions of won” on aggressive mergers and acquisitions in taking the next step to become a vaccine and bio powerhouse, CEO Ahn Jae-yong said Thursday. “We will secure more funding through the assets compiled with the (initial public offering), operating cash and additional acquisition financing,” he said in an online press conference to mark the company’s one-year anniversary of going public. “We will use the funding on

LG Innotek Co. said Thursday its chief of display solution business has won a presidential commendation for contributing toward increasing domestic production of key components and enhancing the global competitiveness of South Korea’s materials and components industry. Koo Han-mo, senior managing director at LG Innotek, was one of the awardees who received the honor on the 49th Commerce and Industry Day on March 16. Having joined LG Innotek in 2007, Koo worked as chief of the tape substr

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Thursday it has won a 589.5 billion-won ($487 million) order to build four container carriers. Under the deal with a Liberian shipper, Hyundai Samho Heavy Industries Co., a KSOE affiliate, will build those vessels and deliver them by the second half of 2024. KSOE did not disclose the size of those container vessels. KSOE has bagged orders to construct 68 ships worth $7 billion so far this year, or 40 percent of its $17.44 billion year

Volkswagen Group Korea said Thursday it will launch a total of 22 new and upgraded models under its four brands this year to boost sales amid the prolonged COVID-19 pandemic. The 22 models include the Volkswagen ID.4 all-electric SUV, the Audi A3 compact and Q4 e-tron, and several new Bentley and Lamborghini models, the German carmaker said. Audi Volkswagen Group Korea has changed its name to Volkswagen Group Korea (VWGK) in line with its parent Volkswagen Group's global efforts to turn itself f

　The number of stock investors in South Korea spiked more than 50 percent on-year in 2021 to breach the 10 million mark amid a retail investment boom, industry data showed. 　A total of 13.84 million investors held shares in 2,426 companies listed on the country's main and secondary bourses, up 50.6 percent from a year earlier, according to the data from the Korea Securities Depository. 　Those investors owned shares in an average 5.96 companies, up 13.7 percent from a year earlier, but per-cap

South Korea's industrial output fell for the second straight month in February as economic uncertainty has heightened amid the upsurge in COVID-19 cases and surging energy costs driven by the Ukraine crisis, data showed Thursday. Industrial output declined 0.2 percent in February from the previous month, compared with a 0.3 percent on-month fall in January, according to the data compiled by Statistics Korea. Compared with a year earlier, industrial output rose 4.3 percent. Retail sales, a gau

Hyundai Engineering & Construction, the construction arm of Hyundai Motor Group, said on March 22 that it started sales of its new Hillstate apartment complex in Geomdan New Town, Incheon. The apartment complex comprises 13 buildings and a total 1,535 units that range in size from 74 to 125 square meters. Since the Hillstate complex was partially built as public housing, it is subject to a price cap that is expected to push down sales prices compared to average market prices. Notably, apart