SK’s building arm signals eco-friendly transition through new name, CI

A South Korean government official said Monday that the country aims to secure messenger RNA vaccine technology to strengthen its vaccine production capacity and take a step up as a global vaccine production hub. “Our goal is not to become a contract manufacturing partner in the production of ingredients for the mRNA COVID-19 vaccines. We aim to develop the mRNA vaccines by next year, with technologies acquired through possible technology transfers and co-development deals,” said

A civic group in South Korea said Monday it has filed a criminal complaint against Samsung’s de-facto chief Lee Jae-yong for breaking an employment ban imposed on him following a conviction of bribery. The Seoul-based Solidarity for Economic Reform, in its complaint lodged with the Seoul Metropolitan Police Agency, accused the Samsung Electronics vice chairman for violating a local law that bans economic figures convicted of breach of trust, embezzlement or bribery from working for rele

LG Electronics has officially given up smartphones, but its very last project -- the first rollable smartphone -- will see the light of day, even though it will not be for sale. The South Korean firm confirmed Monday that it is considering producing a limited volume of Rollable phones for internal use. “Development of the Rollable was completed before the management’s decision to end the phone business,” said a company official. “The exact timing or volume of the

From milk-inspired body wash to candies inspired by carbonated beverage, quirky collaborations are all the rage in Korea

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday that it has signed deals worth 348 billion won ($308 million) to build six ships. Under the deal with a Liberian company, Hyundai Samho Heavy Industries Co., a unit of KSOE, will deliver a 91,000-cubic-meter liquefied petroleum gas (LPG) carrier starting in the first half of 2023, KSOE said. An order for an 86,000-cubic-meter LPG carrier and two 50,000-ton petrochemicals carriers was placed by an Asian company, KSOE said. Th

Samsung Electronics Co. on Monday added more products to its monitor lineup with enhanced connectivity options as the South Korean tech giant targets to boost sales amid the pandemic-induced stay-at-home trend. Samsung said its latest Smart Monitor, powered by the Tizen operating system, includes a 43-inch M7 model supporting ultra-high definition resolution. The company previously introduced a 32-inch M7 last November. The 43-inch M7, which supports 65W charging through a USB Type-C port and

　South Korea’s exports of cosmetics shot up 15 percent in 2020 from a year earlier, data showed, on the back of growing demand from the United States and from other Asian countries. 　Outbound shipments of cosmetics reached $6.12 billion last year, according to the data compiled by the Korea Customs Service and the Korea Cosmetic Association. 　Korea’s imports of cosmetics fell 10.7 percent on-year in 2020 to $1.07 billion. 　Exports to China soared 24.6 percent, with shipments to J

Korea Forest Service minister highlights the importance of trees for the environment and people

Major business associations in South Korea welcomed the outcome of President Moon Jae-in’s visit to the US, and praised announced partnerships on strategic business areas including semiconductor chips and batteries. The Federation of Korean Industries, a major business lobbying group here, issued a statement on Sunday on the business agreements made over the weekend in line with President Moon’s summit talks with his US counterpart Joe Biden. “We view the agreement of the

Samsung Biologics is working to expedite preparations to start churning out “hundreds of millions” of doses of Moderna’s COVID-19 vaccine in early second half, the company said Sunday. At its sterile drug manufacturing facility in Songdo, Incheon, which is one of the largest in the world, the South Korean pharmaceutical will handle the fill and finish process of the production of mRNA-1273, Moderna’s messenger-RNA based COVID-19 jab. The firm signed a contract with Mo

South Korean President Moon Jae-in visited a plant construction site of SK Innovation Co., the country‘s leading battery maker, in the United States on Saturday. “This plant symbolizes friendship and high-tech cooperation between South Korea and the United States,” Moon said in a speech at the factory in the state of Georgia. “South Korean firms are best partners in the battery field. Cooperation in the sector offers a good opportunity for the US and South Korea to devel

Including Samsung and SK, Korea’s leading conglomerates to invest total of W44tr in US

KT Corp., a major South Korean telecom operator, said Sunday it signed an agreement with the country's top science and technology university to establish a research institute for artificial intelligence (AI) and software development. Under the agreement, KT will work with the Korea Advanced Institute of Science and Technology (KAIST) to build the research institute in the central city of Daejeon, 164 kilometers south of Seoul, by the end of this year. KT said the institute will house around 20

Consumer complaints about clothes and accommodations surged in April as outdoor activities increased sales of those products, the Korea Consumer Agency said Friday. Complaints about fashion goods saw the steepest increase. Compared with the previous month, the total number of inquiries about women’s dresses increased by 46.1 percent and T-shirts by 31 percent. Most complaints were about shipping fees when customers requested refunds for defective products. Complaints about accommodati