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Coupang to pay W1m to each of its 2,600 quarantined temps

Coupang is set to pay 1 million won ($828) to each of its 2,600 temporary workers who have had to self-quarantine because of the COVID-19 pandemic. On Thursday, the country’s leading e-commerce oper...

Jun 12, 2020
Will KAMCO buy cash-strapped Korean Air’s land?

With no companies bidding for the sale of Korean Air’s land in Songhyeon-dong, Seoul, the government unveiled plans to launch a corporate asset purchase program worth 2 trillion won ($1.6 billion), r...

Jun 12, 2020
[Monitor] Disaster relief funds mostly used for dining out, shopping

The emergency disaster relief funds for citizens provided by the government to combat the impact of COVID-19 pandemic were mainly used for dining out and shopping while sales for opticians, hospitals...

Jun 12, 2020
Celltrion acquires a unit in Takeda's APAC business

Celltrion announced on Thursday that it acquired the Primary Care unit in Japanese multinational pharmaceutical firm Takeda's Asia Pacific business. The deal, worth 332.4 billion won ($278 million),...

Jun 11, 2020
SK E&C slapped with $68.4m fine in US

SK Engineering and Construction was handed a $68.4 million penalty by a US court Thursday on charges of bribing an official to win an Army contract. The Department of Justice said in a press release...

Jun 11, 2020
Diageo Korea releases Johnnie Walker 200th Anniversary Edition

Celebrating the 200th anniversary of its flagship scotch whisky brand Johnnie Walker, Diageo Korea said Thursday it will roll out a limited edition in retail shops across the country. Founded by Joh...

Jun 11, 2020
Samsung's foundry biz market share to rise in Q2: report

Samsung Electronics Co.'s market share in the global foundry industry is expected to increase in the current quarter from the previous three months, a report showed Thursday, with growth in the 5G sm...

Jun 11, 2020
Hyundai Oilbank develops oil leak detector

Hyundai Oilbank said Thursday it has developed a new system that can detect oil leaks from underground pipes at gas stations to help prevent environment pollution. According to the South Korean refi...

Jun 11, 2020
Korean foodmakers roll out offbeat products via co-branding

It's not just funny or tongue-in-cheek wordplay. Rather, it is a highly calibrated marketing strategy ironed out by South Korean foodmakers here to mainly target the important clan of young customers...

Jun 11, 2020
[Herald Interview] ‘Time is ripe for Korean pharmas to go global’

Securing Korea’s own drug supply chain needs state-driven impetus: KPBMA chairman

Jun 11, 2020
Celltrion to test Remsima on COVID-19 patients in UK from June

Celltrion Healthcare said Thursday it will begin clinical trials of its anti-inflammatory drug Remsima on COVID-19 patients in the UK this month. “As Remsima is an approved drug, the clinical trials...

Jun 11, 2020
50% more gamers globally in 2020 amid pandemic: report

The number of people playing PC and console-based games jumped by nearly 50 percent globally this year as the new coronavirus pandemic has confined more people to their homes, an industry report show...

Jun 11, 2020
Doosan to raise W1tr by selling shares, assets

Debt-laden Doosan Group will raise 1 trillion won ($800 million) this year by selling new shares and its assets to ease its cash shortage crisis, the group's chairman said Thursday. Park Jeong Won, ...

Jun 11, 2020
More cable TV operators up for sale, telcos eye bigger share of pay TV market

South Korea's three major telecommunications firms are to enter heated competition to expand their presence in the local pay TV market, industry insiders said Thursday, as more cable TV operators are...

Jun 11, 2020
[Monitor] Korean firms suffer 10% drop in overseas revenue

The combined revenue from overseas markets of South Korea’s top 100 companies dropped by 10.4 percent due to the coronavirus pandemic, data from the Federation of Korean Industries showed. The data ...

Jun 11, 2020

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