Coupang Play to target sports fans with latest deal to win online Olympics broadcasting rights

SK Bioscience Co., a major South Korean pharmaceutical firm, said Monday it plans to invest 150 billion won ($132 million) through 2024 to expand its production capacity of COVID-19 vaccines. SK Bioscience said the investment is meant to increase the production capacity of the production line based in Andong, about 270 kilometers south of Seoul. The investment will also be spent on building facilities to develop vaccines utilizing the so-called messenger RNA (mRNA) technology, which recently c

Representatives of the labor union at Samsung Display Co. on Monday launched their first-ever strike after failing to reach a compromise on a wage hike, and the walkout marks the first after group chief Lee Jae-yong promised to abolish the conglomerate's "no labor union" policy. Around 40 representatives of Samsung Display's labor union staged a walkout at its plant in Asan, South Chungcheong Province, after their wage negotiations with the company did not reach an agreement. The uni

Samsung Electronics Co. on Monday announced the global launch of its upgraded gaming monitors as the South Korean tech giant tries to boost sales amid the stay-at-home trend. The 2021 edition of Odyssey gaming monitors -- G70A, G50A and G30A -- will be available in major markets, including South Korea, according to Samsung. The 28-inch G70A comes with a price tag of 950,000 won ($840) here, while the 27-inch G50A will be sold at 650,000 won. List prices for the 27-inch and 24-inch G30A monit

　South Korea’s exports of grapes shot up 35 percent on-year in 2020 to set a new record high, data showed, on the back of the growing popularity of local agricultural products overseas. 　Outbound shipments of grapes came to $30.7 million in 2020, compared to $22.8 million posted a year earlier, according to the data compiled by the Ministry of Agriculture, Food and Rural Affairs. 　Over the first four months of 2021, exports of grapes came to $7.2 million, also up nearly 50 percent fr

LG Electronics Inc. and Canadian auto parts maker Magna International Inc. are in the final phase of launching their electric vehicle (EV) powertrain joint venture next month, industry insiders here said Monday, as they review board member appointment plans for the new company. The South Korean tech giant is scheduled to spin off its green business in its vehicle solutions unit on July 1 to set up LG Magna e-Powertrain Co. Magna will then acquire a 49 percent stake in the new firm for $453 mil

From free air tickets and special discounts on burgers to vaccinated-only seats at concerts, local industries are revving up their marketing efforts to target the rapidly growing number of Koreans getting their COVID-19 vaccine shots. As of Sunday, over 15 million people, or some 29.2 percent of the total population, have received at least one shot of a COVID-19 vaccine, surpassing the government’s initial goal of inoculating 13 million in the first half of this year, according to the Ko

Hyundai Motor’s sedan Avante has sold over 100,000 units nearly one year after its release, the company revealed Sunday. The all-new Avante, which was unveiled in April last year, racked up 104,937 sales as of April, and 111,634 units as of last month. Having sold over 77,000 models within last year alone, it is the second bestselling sedan and third bestselling passenger car in the country so far this year, following Hyundai Motor’s Grandeur and Kia’s Carnival, which sold 43

Strategic alliance opens two new fulfillment centers, ramps up efforts to challenge Coupang

Kakao Group, which started off as a mobile messenger app operator and has aggressively expanded into new business territories, is now the country’s fifth-largest business group in terms of market cap, data shows. According to financial data from Korea Exchange and market researcher Infomax, the aggregate market capitalization of all Kakao firms stood at 73.9 trillion won ($65.1 billion) as of Friday. After a dizzying array of spinoffs, mergers and acquisitions in past years, Kakao ha

LG Electronics, the world’s leading manufacturer of organic light-emitting diode TVs, is continuing to expand the market of self-emissive TVs by rolling out new size choices. The company is releasing in Korea and the US this month 83-inch OLED TVs, which it said will be the biggest 4K OLED TV in the world. In Korea, the new model will be available for 10.9 million won ($9,600). It is the latest addition to LG’s OLED TV lineup, which has consisted of 48 inches, 55 inches, 65 inc

DataStreams, a local big data solutions provider, has been recognized for its contributions to the development of the local big data industry by the Korea Society of Management Information Systems, the Seoul-based tech firm said Sunday. It has been chosen as the recipient of the 10th KMIS award, which recognizes and honors an outstanding corporation in information technology. DataStreams, with its persistent focus on research and development, has churned out a stream of innovative products an

Kakao Corp., which operates South Korea's most popular mobile messenger Kakao Talk, emerged as the country's fifth-largest conglomerate in terms of market cap on the back of the recent gains from the main bourse, data showed Sunday. The combined market cap of Kakao and its affiliates came to 73.9 trillion won ($65.2 billion) as of Friday, according to Yonhap Infomax, the financial news arm of Yonhap News Agency. It marked a sharp rise from just 13.2 trillion won tallied in end-2019. The marke

LG Electronics Inc. said Sunday it has launched an 83-inch OLED TV as the South Korean tech giant tries to beef up its presence in the premium TV market. LG's 83-inch OLED TV, the 83C1, will be first available in South Korea and the United States this month. In South Korea, its list price has been set at 10.9 million won ($9,630). LG is the first TV maker to release an OLED TV with an 83-inch size display. The 83C1 is also the industry's largest OLED TV with 4K resolution. The latest TV expan

Seoul International Sourcing Fair 2021, a platform for discovering new business partners and carrying out business-to-business transactions through networking, is currently being held at Coex. With the environmental, social and governance sector gaining momentum, some 150 small and medium-sized enterprises and startups are displaying eco-friendly consumer goods in various categories, including gifts, living, beauty, smart devices and wellness.  Participants browse a variety of eco-friendl