South Korean firms are again beefing up their virus prevention measures after the country decided to enforce enhanced social distancing rules in the greater Seoul area over a resurgence of the novel coronavirus, industry insiders said Monday. Health authorities will start implementing the Level 2 distancing scheme, the third highest in the country's five-tier COVID-19 alert system, in the capital region, home to half of the nation's population, Tuesday as sporadic cluster infections continue to

Retail sales in South Korea increased 8.4 percent in October from a year earlier on the back of the pandemic and consumption-boosting events, data showed Monday. The combined sales of 26 major offline and online retailers reached 12.01 trillion won ($10.7 billion) last month, up from 11.08 trillion won a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. Online platforms led the overall growth, with their revenue advancing a whopping 17.2 percent over t

Expected increases in fair market value for studio apartments and commercial buildings by region

Samsung Heavy Industries Co. said Monday it has signed a $2.5 billion deal with a European company to provide ship blocks and other equipment. The deal, the largest order ever the shipyard has clinched, will be finalized in December 2025, Samsung Heavy Industries said in a regulatory filing. So far this year, Samsung Heavy has secured orders worth $3.8 billion, achieving 45 percent of its annual order target for the year. With the deal, Samsung Heavy's order backlogs also rose to $21.1 billio

LG Electronics Inc. on Monday introduced a new cinema projector in South Korea that boasts easy screen alignment amid the pandemic-driven stay-at-home trend. The latest model of the LG CineBeam Laser 4K, the HU810PW, is equipped with a "triple image adjustment" feature that gives more installment options to users, the South Korean appliance maker said. It will be sold at 3.79 million won ($3,400) here. The new projector can create a rectangle screen even if it is positioned at the

GS Inima Environment said Sunday it has won an overseas desalination project worth 2.3 trillion won ($2.1 billion) in Oman, the biggest in the company’s history. According to the Spain-based water processing subsidiary of GS Engineering & Construction, it received a letter of award from Oman Power & Water Procurement Company to conduct two independent water projects -- the third phase desalination project at Al Ghubra desalination plant and the fifth phase project plan in Barka.

Eyes 2021 start on Yukbaeksan wind farm as part of push to install 100 domestic turbines

A year and a half after presenting its sports utility vehicle QM6 with upgrades including new powertrains, Renault Samsung Motors introduced a new version of the bestselling model this month with a revamped exterior. Renault Samsung’s QM6 has been a cash cow for the automaker, having sold more than 160,000 units in the domestic market since its launch in 2016 and topping the country’s monthly sales of SUVs on several occasions. The first upgraded model came out in June 2019, when

Upgraded SUVs hit the spot for people turning to outdoor activities

Samsung Electronics said Sunday that sales of its home appliances launched under the Bespoke brand have increased rapidly. Bespoke refrigerators, for instance, took up 65 percent of its total refrigerator sales during the June-October period. Sales of the Bespoke dishwasher and oven models from January to October increased by 280 percent and 130 percent on-year, respectively. The Bespoke oven model launched in September last year accounted for 70 percent of the company’s total oven sa

South Korean fashion and retail conglomerate E-Land Group said Sunday it has suspended operations at nearly half of its stores in the country due to a ransomware attack. The group said its corporate network system was attacked by ransomware early in the morning. Such a malware attack has forced 23 of its 50 branches of NC Department Store and NewCore Outlet to halt their operations, E-Land added. Ransomware is software that intentionally blocks users from accessing their digital files unless

SK Telecom Co., South Korea's leading mobile carrier, said Sunday it has developed a next-generation cloud native core network system with Samsung Electronics Co. that can provide better 5G services. A core network is the central part of a telecommunications infrastructure that handles key tasks, including device certification and quality of service management, for mobile subscribers to access various services. SK Telecom said its latest core network is the first in the industry to meet the

As pandemic accellerates trend toward spending time alone, businesses adapt

After a six-year court battle, a Seoul court ruled against the National Health Insurance Service in the case filed against major tobacco companies, saying there was no direct link with the insurer’s financial burden and the firms’ business activities. NHIS first filed a compensation suit Against KT&G, the leading tobacco manufacturer here, and the local headquarters of British American Tobacco and Philip Morris, claiming that their sales of cigarettes had caused extra costs fo

AstraZeneca and Oxford University’s co-developed COVID-19 vaccine AZD1222 has shown immune response in older adults enrolled in a phase 2 clinical trial of the drug. Phase 3 clinical trial results are anticipated to be released around Christmas, the researchers said Friday. SK Bioscience, the Korean vaccine producer who in July signed with AstraZeneca to manufacture its COVID-19 vaccine, confirmed with The Korea Herald on Friday that manufacturing has been going without a glitch. AZD