Ikea Korea’s labor union plans to launch a three-day strike next week, accusing the Swedish furniture brand of discriminatory treatment toward local staff. About 800 of the workers at the company’s outlets in Gwangmyeong, Goyang and Yongin in Gyeonggi Province and its service call centers will join the walkout from Dec. 24-27, said the union affiliated with the Korean Confederation of Trade Unions on Thursday. That constitutes one-third of Ikea Korea’s 2,500 employees. &

While South Korea reels under the third wave of COVID-19 infections and its consequences, leading conglomerates here are making gestures to alleviate the top priority dilemma for health authorities -- the shortage of sickbeds and medical facilities. SK Group, the country’s third-largest conglomerate in assets, said Thursday that its decision-making body SUPEX Council has donated 12 billion won ($11 million) to the Community Chest of Korea. The latest contribution not only came as part w

LS Cable & System, the world’s third-largest wire and cable maker by sales, said Thursday that it has won a submarine cable supply deal worth around 200 billion won ($183 million), marking the largest deal of the kind in more than 10 years. Slated to be completed by end-2023, the given project aims at connecting South Jeolla Province’s Wando to Jeju Island by installing some 90 kilometers of high voltage, direct current -- or HVDC -- submarine cable. LS C&S will be undert

South Korea's top power plant builder Doosan Heavy Industries & Construction Co. said Thursday that it has joined forces with a local government to build an offshore wind farm in seas off the coast of the southwestern part of the country. Doosan Heavy signed a deal with the government of North Jeolla Province to cooperate on the construction of a 2.4-gigawatt offshore wind farm to be completed by 2028, a 14 trillion-won ($12.8 billion) project, the company said in an emailed statement. Und

Remote work and home entertainment devices have enjoyed a surge in sales in recent weeks as the coronavirus pandemic worsens, major online shopping platforms said on Thursday. According to Tmon, sales of work-from-home and entertainment electronic appliances saw a 270 percent year-on-year increase on average in the last two weeks. While sales of PCs were up 162 percent, desktop computers saw a 143 percent increase in sales. Laptops, webcams and graphic cards also enjoyed a sales bump as well a

Low-cost carrier Air Busan will make goggles mandatory for all cabin crew from Thursday, including those on domestic flights, as South Korea struggles to rein in coronavirus outbreaks. Before, only those on international flights had to wear safety glasses. The company said the measure would “relieve the worries of passengers.” Korea announced over 1,000 new cases Thursday, with over 400 of those cases in Seoul. The new move will also see ground staff wear goggles and masks and be

Posco, the world's fifth-largest steelmaker by output, said Thursday it has agreed to buy a 15 percent stake in Black Rock Mining for $7.5 million. The deal will pave the way for Posco to secure graphite fines, a material required to make anodes, according to the steelmaker. Still, Posco said no specific date has been set for the formal signing of an offtake agreement with the Australia-based graphite producer. An anode is a key material in a battery that preserves lithium coming from th

Stung by resurgence of virus cases, Korea warms up to quicker, more convenient testing, albeit a little less accurate

State-run Korea Electric Power Corp. (Kepco) said Thursday it will revamp its billing system by adopting flexible rates linked to global prices of resources next year, in a move to improve its profitability. "The current billing system failed to reflect fluctuations in production costs in a timely manner," Kepco said in a statement. "It has also remained unchanged since 2013 and also failed to notify consumers of additional prices linked to climate change," it added. South

Motional, the Hyundai Motor-Aptiv joint venture, said Thursday it has partnered with US ride-sharing firm Lyft Inc. to launch driverless robotaxi services in major US cities in 2023. Motional said it plans to deploy fully autonomous vehicles, which are based on the Korean automaker Hyundai Motor's platform, in Lyft's ride-sharing network in the United States. Lyft has the second-biggest ride-sharing network in the world's most important automobile market after Uber Technologies Inc. The busin

LG Electronics Inc. on Thursday unveiled its theme for the upcoming media event at the world's largest tech expo next year as the South Korean tech giant vowed to introduce products and solutions that could be useful in the new normal era of the pandemic. LG will hold a 30-minute virtual press conference at 8 a.m. Eastern Standard Time (EST) on Jan. 11 under the theme of "Life is ON -- Make yourself @ Home" at the Consumer Electronics Show (CES) 2021 and will explain its latest innova

LG Electronics Inc. on Thursday introduced a new 16-inch laptop that boasts better performance and portability. The South Korean tech giant said the LG Gram 16 will be added to its premium Gram laptop series, which has 14-, 15.6- and 17-inch models. The LG Gram 16 weighs only 1,190 grams and was certified by Guinness World Records as the world's lightest 16-inch laptop, according to the company. The latest product uses Wide Quad Extended Graphics Array high-resolution IPS display with a 16:10

Samsung Electronics Co. said Thursday it will collaborate with International Business Machines (IBM) Corp. to develop enterprise solutions with cutting-edge technologies. With its US partner, Samsung said it aims to provide enterprises with new 5G, edge computing and hybrid cloud solutions so that businesses can better manage their operations and embrace the fourth industrial revolution. "This planned collaboration will combine Samsung's industry-leading Galaxy 5G mobile devices and advan

A US trade panel has upheld its preliminary ruling by siding with South Korean drugmaker Medytox Inc. in a trade dispute, saying its local rival Daewoong Pharmaceutical Co. copied the manufacturing process of a botulinum toxin strain, industry officials here said Thursday. In a final decision, the US International Trade Commission (ITC) ordered a 21-month ban on imports of Daewoong Pharmaceutical's botulinum products into the United States. The ruling, however, reduces an initial 10-year ban p

Canada Pension Plan Investment Board (CPPIB) plans to invest 300 billion won ($275 million) into BHC Co., a fried chicken franchise operator in South Korea, an industry source said Wednesday.  CPPIB, Canada's biggest pension fund, is scheduled to sign a contract with BHC to become one of the new investors for the Korean firm, according to the source.  BHC saw sales grow 34 percent on-year to 318.6 billion won in 2019, and its operating profit jumped 62 percent on-year to 97 billion w