LG Uplus Corp., a major South Korean telecom operator, downplayed concerns Thursday over its use of network equipment by Huawei Technologies Co. amid US pressure to sever ties with the Chinese company, citing the completion of equipment installation and a healthy backlog for maintenance. The United States has repeatedly pressed the South Korean carrier to stop using Huawei's 5G equipment, claiming the Chinese telecom equipment maker poses a security risk and could compromise the country's inter

No. of female members in executive-level positions at top 100 firms

LG Chem Ltd., South Korea's leading chemical firm, said Thursday it will collaborate with Finland-based bio diesel producer Neste to develop renewable materials for its chemical products. LG Chem and Neste signed a strategic long-term partnership to develop biopolymers and biochemicals to reduce use of fossil feedstock in the Korean company's manufacturing process. LG Chem has a diversified chemical portfolio ranging from petrochemical products to lithium-ion batteries for electric vehicles.

Doosan Group's system integrator Doosan Logistics Solutions Co. (DLS) said Thursday that it has signed a deal with Chinese autonomous mobile robot (AMR) maker Geek+ to bring logistics robots to South Korea. Under the deal, DLS will exclusively provide logistics robots made by Geek+ to the local market and maintenance services for them, the company said in an emailed statement. Geek+ is the world's largest AMR maker, having 16 percent share of global AMR market, DLS said. Unlisted DLS, a sy

SK Telecom Co., South Korea's largest mobile carrier, said Thursday its net income rose more than 40 percent in the third quarter from a year earlier on the back of robust growth in its media business. The telecom operator's net income stood at 395.7 billion won ($350.5 million) in the July-September period, up 44.2 percent from 274.4 billion won the previous year, according to a regulatory filing. Operating income reached 361.5 billion won, up 19.7 percent over the cited period, while sales r

Major South Korean brokerage house Meritz Securities Co. said Thursday its third-quarter net profit spiked nearly 56 percent from a year ago thanks mainly to increased fee income. Net profit came to 162.5 billion won ($142.8 million) in the July-September period, up 55.7 percent from a year earlier, the company said in a regulatory filing. Its operating income shot up 72.2 percent on-year to 208.1 billion won in the quarter, and sales rose 4.9 percent to 3.39 trillion won. Meritz Securities s

Kakao Corp., the operator of South Korea's top mobile messenger KakaoTalk, said Thursday its third-quarter net profit jumped nearly three times from a year earlier on the back of robust growth of its e-commerce services based on its messenger platform. Net profit reached a quarterly high of 143.7 billion won ($126.3 million) in the July-September period on a consolidated basis, compared with a profit of 51.1 billion won a year earlier, the company said in a regulatory filing. Sales jumped by 4

This is the era of fourth industrial revolution. Traditional marketing platforms are rapidly receding in their stature now that we have big data-based artificial intelligence entering the realm of decision-making. Digital advertisement quotes had already begun to surpass the TV advertisement quotes since 2016, and this year, in 2020, they are expected to account for over 50 percent of the entire advertisement market. Digital marketing refers to the extensive marketing activity of pitching prod

A number of South Korean business leaders and senior government officials who visited the funeral hall of late Samsung Group Chairman Lee Kun-hee were either tested or planning to undergo tests for COVID-19 on Wednesday after a reporter who covered Lee‘s funeral was confirmed to be infected with the coronavirus. 　 According to business community insiders, SK Group Chairman Chey Tae-won and Park Yong-maan, chairman of the Korea Chamber of Commerce and Industry, both received tests after rec

Renault Samsung Motors said Wednesday it had started a race contest with the European Chamber of Commerce in Korea involving its electric vehicle Twizy, to encourage donations from ECCK member firms. The automaker said it is participating in the event hosted by the ECCK, as the main sponsor to provide five units of its ultracompact model, Twizy. For the four-day event, the five Twizy cars departed from Seoul and will stop at Daejeon and Daegu before arriving in Busan on Friday. The fundrai

The government said Wednesday it has called for Vietnam to conduct a fair and objective investigation into an anti-dumping case related to high-fructose corn syrup from Korea and pledged to discuss “essential facts” with the country before a final decision is made. Essential facts are crucial facts that form the basis of the investigating authority’s decision to apply anti-dumping duties. According to the Ministry of Trade, Industry and Energy, it held a video conference

Korea Power Corp. said Wednesday that it has become the first South Korean energy company to issue environmental, social and governance bonds worth 200 billion won ($176 million) for two consecutive years. According to the state-run utility, the bonds comprise two-year bonds worth 30 billion won, three-year bonds worth 100 billion won and five-year bonds worth 70 billion won. “Kepco issued the ESG bonds at the lowest interest rate out of all ESG bonds that have been issued by public

A total of 44 medals were awarded to foreign-invested companies and related organizations who contributed to the Korean economy, at the 2020 Foreign Company Day held on Tuesday in Seoul, according to the Korea Foreign Company Association, or FORCA. Inaugurated in 2001, the Foreign Company Day marks its 20th anniversary this year. The ceremony is held annually under the auspices of the Ministry of Trade, Industry and Energy and FORCA. At the event, medals were given to a total of 44 investm

Automaker SsangYong Motor unveiled its brand new mid-size SUV Rexton at a showcase event on Wednesday in Seoul. The event was attended by former national football team goalkeeper Kim Byung-ji (far left), presenter Lee Hye-sung (second from left), popular trot singer Lim Young-woong (second from right), who is the carmaker’s brand ambassador, and racecar driver Seo Ju-won. With a 2.2-liter diesel engine, the new SUV model boasts the horsepower of 202 and the maximum torque of 45 kilogram-m

　South Korean pharmaceuticals and biologics companies produced conflicting third-quarter reports, some of them boosted by their involvement in COVID-19-related pipelines. 　GC Pharma, Chong Kun Dang Pharmaceutical, Boryung Pharmaceutical, Daewoong Pharmaceutical and Yuhan Corp. reported stellar performances, while Dong-A ST and Hanmi Pharm saw their figures falter. 　 　The companies that fared better than the others had flu vaccines and treatments for chronic illnesses in their portfolios. Both