Top construction equipment maker Doosan Infracore Co. said Wednesday that it has won an order for 221 excavators from French construction equipment rental company Beaulock. Doosan Infracore will provide 12 kinds of excavators, including a 22-ton one, it said, but the company did not reveal the amount of the order. The latest order will help Doosan Infracore expand its presence in the European construction equipment market, the company said. Beaulock bought a total of 250 excavators from Doosa

Samsung Electro-Mechanics Co., a major electronic components maker in South Korea, said Wednesday it has developed an ultra-slim multilayer ceramic capacitor (MLCC) with a three-socket structure that can be used in 5G smartphones as the company targets to increase sales from global smartphone makers. Samsung Electro-Mechanics said it began to supply the 0.65-millimeter slim three-socket MLCC, which is 18 percent thinner than its previous products, to smartphone manufacturers. MLCC is a core co

US chamber points to exceptional level of CEO risk here, takes rosy view of US-Korea alliance under Biden-Moon

Samsung Electronics and its affiliates returned to an emergency posture on Tuesday, a day after an appellate court sentenced the conglomerate’s leader Lee Jae-yong to two years and six months in jail. Multiple sources at the country’s largest business group spoke of a somber mood, with many expressing regrets about the court’s decision and worries about the tech giant’s mid-term strategies. “Aside from day-to-day operations, the leader’s vacancy literally

Hyundai Motor Co. and affiliate Kia Corp. are expected to post double-digit growth in their fourth-quarter operating profit, helped by robust domestic sales despite the coronavirus pandemic. Strong local demand for their vehicles helped Hyundai Motor and Kia offset their weak overseas sales in the October-December period, analysts said. Hyundai, the country's biggest carmaker, likely posted an operating profit of 1.71 trillion won ($1.55 billion) in the fourth quarter, up 37 percent from 1.24

Boryung Pharmaceutical announced it had begun full-fledged use of its Yesan plant and more emphasis on anti-cancer products. Boryung announced Tuesday that it had been producing plasma cell myeloma treatment Velkin from end-December at the Yesan plant, and is soon to send the bulk out to the market. Once the company gains EU good manufacturing practices certification, which the company is preparing to apply for this year, Boryung’s anti-cancer products will make their way to the global

Washing machines made by South Korea‘s LG Electronics and Samsung Electronics swept the top spots in a ranking by American consumer organization Consumer Reports, according to industry sources Tuesday. LG Electronics ranked first in the front-load washer, top-load agitator washer and top-load high-efficiency washer segments, becoming the first non-US firm to win three out of five washing machines categories in the ratings compiled by the organization. LG Electronics continued its stren

PoongLim Pharmatech, a local medical device manufacturer, will produce 10 million syringes a month for COVID-19 vaccines, the Ministry of SMEs and Startups said Tuesday. The Gunsan, North Jeolla Province-based firm recently finished repurposing its factory as a smart manufacturing facility to produce a more efficient type of syringe, known as a low-dead-space syringe. It is designed to minimize the amount of fluid left between the plunger and needle after a shot. PoongLim’s syringe rec

With largest logistics network, CJ Logistics rises as a potential player, but lacks cold chain system of competitors

Air Premia and Aero K to heat up competition as Jin Air, Air Busan, Air Seoul to merge

From Tuesday, Coupang is holding a two-day special promotion event, offering up to 50 percent discount on products purchased overseas and products directly imported by the e-commerce firm, the company said Tuesday. During the Jan 19-20 Global Shopping Day, time-limited discount will be provided at 11 a.m. every morning, where items like Samsung 55in Class 8 Series LED Smart Tizen TV, Fujifilm’s instant camera Instax, Ivory Aloe Cosmetic Soap, four-in-one Badger Green Classic Lip Balm 4-S

Doosan Mobility Innovation (DMI), a producer of portable fuel cell power packs for drones, said Tuesday that it has teamed up with the local shipbuilding and marine ICT provider Marineworks to develop a solution to control ships' sailing by using drones. The two companies will develop an electric marine chart system on the basis of video footage taken by DMI's hydrogen fuel cell-powered drones, which are capable of flying for more than two hours, DMI said. DMI said the system will allow ships

South Koreans are estimated to have spent over 500 billion won ($454 million) on global video streaming service Netflix last year, doubling the amount tallied the previous year, data showed Tuesday. Local credit card payments on the video streaming service are estimated to have reached 517.3 billion won last year, compared to 248.3 billion won in 2019 and just 65.7 billion won in 2018, according to data tracker WiseApp. Based on the data, WiseApp said paid subscribers to Netflix stood at 4.1 m

　South Korea’s exports of fishery products moved down 7.4 percent on-year in 2020, data showed, as people around the globe refrained from dining out amid the COVID-19 pandemic, leading to a weaker demand for tuna and other popular goods. 　Outbound shipments of fishery goods reached $2.3 billion last year, down from $2.5 billion posted in 2019, according to data compiled by the Ministry of Oceans and Fisheries. 　The decrease was largely attributable to the COVID-19 pandemic, which limi

By Yim Hyun-su