HMM Co., South Korea's leading container shipper, said Monday it has decided to temporarily suspend two Far East shipping routes in the wake of Russia's invasion of Ukraine. The decision affects HMM's shipping routes between South Korea's southeastern port of Busan and Russia's Far East ports of Vostochny and Vladivostok. "The temporary suspension of bookings for the routes is inevitable as the war between Russia and Ukraine has sent cargo volume tumbling," HMM said. "We will push

Samsung Electronics Co. says it will unveil new Galaxy A smartphones Thursday, the tech giant's entry-level gadget targeting users looking for more affordable smartphones with flagship features. Calling the Galaxy A series the company's "most popular smartphone category," Samsung said it "is taking the impactful Galaxy innovations for the A series even further." The series will be shown at a live online event slated for 10 p.m. (US time) Thursday. Samsung's mid-low tier Galax

Asiana Airlines Inc. said Monday it will resume flights on the Incheon-Nagoya route next month, one year after its suspension due to the COVID-19 pandemic. Starting April 1, Asiana plans to provide one flight a week on the Nagoya route, while expanding flights on the routes to Tokyo, Osaka and Fukuoka from March 27, the company said in a statement. The move is aimed at preemptively preparing for an increase in travel demand in the post-pandemic era, it said. The quarantine period recently fell t

South Korea is likely to see a major change in its nuclear-free power policy with President-elect Yoon Seok-yeol‘s campaign pledge to bolster energy policies in use of atomic power. Yoon has vowed to make a U-turn from the Moon Jae-in administration’s nuclear energy phase-out policies, citing plans to use nuclear to account for 30 percent of total energy generation. “(I’ll make sure) Sin-Hanul No. 3 and No. 4 resume construction and operate old nuclear reactors after e

90% of king crab imports also from Russia

The National Pension Service, the second-largest shareholder of South Korean tech giant Samsung Electronics, is poised to vote against Kyung Kye-hyun, who was named head of Samsung’s chip business in December, a disclosure showed Sunday. As the public pension fund of Korea with 8.53 percent voting rights, NPS cited Kyung’s “history of undermining the enterprise value or violating shareholders’ rights,” without elaborating further. Kyung was one of three board mem

Hyundai Motor Group’s flagship electric vehicle model Ioniq 5 is now available for mobility subscription service from Hyundai Selection in metropolitan areas including Seoul. The Korean automaker said Sunday that Ioniq 5 will be offered as an option in the monthly program Regular pack. The model was only offered for the daily-subscription plan Special pack subscribers in Jeju and Busan.  Hyundai Motor said such service expansion will allow more customers to experience Ioniq 5, which

SK Telecom-owned ID Quantique expresses bid for EU-wide quantum infra projects after Asia success

South Korea and the US have seen their trade volume surge almost 70 percent since a free trade pact was signed in 2011, with their economic ties being enhanced as a key partnership to resolve the current supply chain disruptions. According to a report released Friday by the Korea International Trade Association that marks the 10th anniversary of the Korea-US Free Trade Agreement, trade volume between the two countries soared 67.8 percent to $169.1 billion last year from $100.8 billion in 2011.

Samsung Heavy Industries Co., the world's third-biggest shipbuilder by order backlog, said Friday it has received a 609 billion-won ($494 million) container ship order in Europe. Samsung Heavy obtained the order to build four liquefied natural gas-powered container carriers from an unidentified European shipper by 2024, the company said in a statement. With this latest order, Samsung Heavy has already achieved $1.3 billion, or 15 percent, of its order target of $8.8 billion this year. In 2021, t

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Friday it has won ship orders totaling 290 billion won ($235 million) in the Asia and Oceania regions. KSOE obtained orders to build one liquefied natural gas carrier for an Asian shipper by the first half of 2024 and four container ships for an Oceania-based shipper by March 2024, the company said in a statement. Hyundai Heavy Industries Holdings Co. has KSOE as a subholding company under its wing. KSOE has three affiliates -- Hyunda

At Semicon Co. on Friday announced that it will sell stocks to raise 10.1 billion won. The proceeds from the stock sale will be used mainly to finance its operations. According to a regulatory filing, the company will issue some 9.28 million common shares at a price of 1,089 won per share. The stocks will be sold to the investors that the firm designated. (Yonhap)

South Korea‘s telecommunications regulator on Thursday unveiled a guideline to clarify potential violations of a revised law banning store operators, like Apple and Google, from forcing developers to use their own in-app payment systems. 　 　Earlier this week, the country’s Cabinet approved an enforcement decree revision of the Telecommunications Business Act that went into effect in September. South Korea became the first country in the world to introduce such curbs on in-app billin

But President-elect has history of prosecuting chaebol chiefs

With Yoon Suk-yeol set to be South Korea’s next president, the country’s biopharmaceutical and gaming industries are paying vigilant attention as the president-elect pledged to increase support for the bio and health sectors while vowing to tighten regulations on game makers’ random box items. The pharmaceutical and biopharmaceutical industries on Thursday welcomed Yoon’s campaign promise to set up a prime ministerial control tower called the Pharmaceutical Bio Innovati