The Korean unit of Chinese tech giant Huawei Technologies Co. on Friday signed a partnership deal to support South Korea's artificial intelligence (AI) businesses as it tries to expand its presence here. Under the deal with the Korean Artificial Intelligence Association, which represents some 300 startups in the AI sector, Huawei Korea will support local companies exploring overseas business opportunities. It will also co-organize events and education programs with the association. Huawei Ko

Samsung Electronics said Friday it has been selected as the 5G network infrastructure supplier for Canada-based telecom firm Telus, laying the groundwork for its presence as one of the primary vendors in the country. Telus, founded in 1990, has 13.4 million mobile subscribers with annual revenue of C$14.4 billion ($10.4 billion). Canada plans to invest C$40 billion to deploy 5G networks across the country in addition to C$200 billion investments made in establishing wireless networks, freq

Hyundai Motor Group Executive Vice Chairman Chung Euisun is scheduled to meet LG Group Chairman Koo Kwang-mo next week to discuss electric vehicle battery business, industry sources said Friday.  This comes less than a month after the heir apparent of South Korea’s largest automaker met Samsung Electronics Vice Chairman Lee Jae-yong to discuss next-generation EV batteries in Cheonan on May 13. They reportedly exchanged opinions on the current situation and the directions for develop

South Korea's two leading duty-free operators will begin to sell duty-free products through local retail channels next week as the government has decided to temporarily permit such sales to help the pandemic-hit sector, company officials said Friday. Industry leader Lotte Duty Free and its rival, Shilla Duty Free, plan to release duty-free items at its local retail channels and via an online sales platform, respectively, next week. The customs office decided in late April to permit domestic s

South Korea has requested the World Trade Organization to open a dispute-settlement panel to deal with Japan's export curbs against its Asian neighbor, which have been in effect since July, the trade ministry here said Thursday. The move came around two weeks after Seoul, disappointed by lack of progress in the feud, said it would reopen its complaint against Tokyo's export restrictions at the WTO Last year, Seoul had dropped its WTO complaint against Tokyo's export restrictions in a goodwill

The first satellite built by KT SAT in 1970 at its center in Geumsan, South Chungcheong Province (left), and engineers at the Geumsan Satellite Center in South Chungcheong Province (right). The center operated by KT SAT marked its 50th anniversary on Thursday when the division of mobile carrier KT announced it plans to launch the sixth communications satellite by 2024 at the earliest. “Koreasat 6A will be able to handle the sharp increase in data traffic in the 5G era,” the company

South Korea’s full service airlines have decided to extend the validity of their mileage points by one year as customers are finding it difficult to use them amid the virus pandemic, officials said Thursday. Korean Air and Asiana Airlines decided to extend the validity period that expires on January 1, 2022, after consultation with the Fair Trade Commission and the Ministry of Land, Infrastructure and Transport. The move comes after persistent criticism that the expiration is unfair as

South Korea's antitrust regulator said Thursday that it has decided to allow Apple Korea to map out a set of measures to address its anti-competitive business practices here, a move that could end a dispute over its alleged violation of competition law. The Fair Trade Commission said it will review detailed corrective measures crafted by Apple Korea and decide whether to approve them. Under the law, an applicant is required to state a correction scheme necessary to restore competition practic

StoneAge World, a new mobile game by South Korean mobile game developer and publisher Netmarble Games, ranked No. 1 on Apple's App Store in the country Thursday. The pet-collecting massively multiplayer online role-playing game (MMORPG) was the most downloaded app in the country on its launch day, Netmarble said. The game had been released in 172 countries as of 11 a.m. As the latest game in Netmarble's internationally known Stone Age series, StoneAge World is set in the prehistoric land of

With main product’s wings clipped, what now for Medytox?

Chong Kun Dang said Thursday its anti-coagulant drug Nafabeltan (nafamostat) is to carry out clinical phase 2 trials to be repurposed as a COVID-19 treatment. The company said in a joint press release with Institut Pasteur Korea and Korea Institute of Radiological & Medical Sciences that Nafabeltan has demonstrated strong antiviral qualities against COVID-19 in a cellular-level test. Instiut Pasteur Korea had explored the antiviral qualities of over 3,000 molecules of which it found that

It won’t be long before artificial intelligence can help save those who suffer cerebral hemorrhage, according to SK C&C, which is preparing to clinically test its medical device designed for the purpose. The company said Thursday that its AI model acquired the Drug Ministry’s Good Manufacturing Practice certificate, guaranteeing the medical device’s quality control. Following the GMP, SK C&C has submitted its proposed clinical test design to the ministry for tests of

Volvo Car Korea said Tursday it will invest 150 billion won ($124 million) over the next three years to expand its after-sales service centers to better serve customers. Volvo Car Korea plans to nearly double the number of service centers to 52 and that of repair centers to 312, by 2023, the company said in a statement.    Volvo has reported robust sales in Korea so far this year, helped by new models, such as the new S60 sedan. Its sales in the January-April period jumped

Shareholders, regulators become stricter while family stakes shrink

The Korea Chamber of Commerce and Industry is set to hold its seventh photo contest under the theme of “the workplace and life of businesspeople” along with an additional contest for “COVID-19,” the business association said Thursday. The nation’s largest photo contest in terms of prize money, began in 2014 to capture images of companies and workers leading the Korean economy. Annually, the contest recieves the highest number of entries among paid photo contes