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Korean bands get their day in the sun, finally
At least 14 dead in worst Bosnian floods in years, officials say
Injured captain Son Heung-min dropped from nat'l team for World Cup qualifiers
Israeli airstrikes rock southern suburbs of Beirut and cut off a key crossing into Syria
FM Cho holds 1st phone talks with Japan's new foreign minister
Arrest warrant sought for Qoo10 CEO over massive payment delays
Biannual palace festival to kick off next week
Hyundai Motor joins forces with Waymo to bolster foundry business
BTS-themed moon jar to be unveiled on Hangeul Day
First state-run center promoting studying in Korea to open in LA
Market uncertain on Korea's October rate cut despite slowed inflation
D-1: Seoul outlines safety plans for grand fireworks festival
CJ ENM vows to invest W1tr in content, maximize cross-platform synergy
S. Korea, US clinch 2026-30 defense cost-sharing deal in pre-election push
Special counsel bill to probe first lady scrapped
Korea reports 8.5% rise in suicide rate
Demand for mobile numbers to peak in 2032, no shortage expected
Concerns raised over chronic labor shortage at state-run center for digital sex crime victims
Samsung unveils 'personalized AI' for all devices
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LS Cable & System bets on EV parts business
Mar 6, 2019
LS Cable & System is slated to sell a 49 percent stake in its subsidiary LS Alsco to local private equity fund Keistone Partners with the aim of securing capital to foster its electric vehicle parts business, according to a regulatory filing on Wednesday. The company will retain a 51 percent stake in LS Alsco and the sale is expected to be fetch 30.9 billion won ($27 million). LS Alsco, which specializes in aluminum, will expand its business into related materials for EV parts. LS Cable & System
[News Focus] Korean brands challenge ales from US, Japan
Mar 6, 2019
SEJONG - In large discount chains nationwide, it has become easy to find consumers putting beer products into their carts with such brands as Hangang, Gangseo, Dalseo and Jeolla.The names of Hangang (Han River) and Gangseo (a district in Seoul) originate from beer producer Sevenbrau’s headquarters, which is located at the Gangseo Hangang Xi Tower in Gayang-dong, Seoul. Dalseo is a district in Daegu, and Jeolla refers to the two provinces in the southwest of the country.Shoppers could buy four 33
S. Korea ranks 13th in IP standards, down 2 notches
Mar 6, 2019
South Korea ranks 13th in the world in terms of its intellectual property standards, a new US report showed, down two notches from the previous year.The Global Innovation Policy Center’s report on International Intellectual Property Index 2019 showed that Asia’s fourth-largest economy was given 36.06 points out of 45 this year, according to the Ministry of Science and ICT on Wednesday. 2019 International IP Index 2019 (GIPC)The GIPC, a research institution affiliated with the US Chamber of Comme
Korean firm invents AI platform for Paris Agreement 2015
Mar 6, 2019
CPE Cell, a clean energy developer in South Korea for the reduction of greenhouse gas emissions, has unveiled an artificial intelligence platform dubbed “Clean Development Mechanism Work Owner Device,” as part of its project to brace for certified emissions reductions.CDM Work Owner Device is the first-step technical module of an AI platform, which is fostered for generating and trading CERs, according to the company that holds its headquarters in Yeoksam-dong, Seoul.It is a device delivering CD
‘Dustphobia’ leads to high sales of dust-filtering products
Mar 6, 2019
With prolonged nationwide warnings on high fine dust levels, household and health care products to combat it saw a steep rise in sales, industry data showed Wednesday. The South Korean authorities on Tuesday enforced emergency measures for the sixth consecutive day in Seoul, Incheon and Gyeonggi and the North and South Chungcheong provinces.According to eBay, its domestic e-commerce websites G-Market, Auction and G9 saw up to sevenfold jump in sales of products designed to filter fine dust from
Calls grow for supervision of financial conglomerates
Mar 6, 2019
Samsung Life Insurance may have to sell stakes in Samsung Electronics if related bill passes
President pledges all-out support to create 'venture boom'
Mar 6, 2019
President Moon Jae-in on Wednesday vowed increased support for venture firms as the key driver of innovation and growth.Moon has been putting an increasing emphasis on regulatory reforms and new technology businesses recently as his trademark income-led growth policy apparently failed to spur employment and consumption last year. (Yonhap)During a briefing on venture business policies, he noted countries across the world are competing fiercely to take the lead in new innovative businesses and tha
SK confirms CEO’s decision to resign as board chair
Mar 5, 2019
A full week after reports surfaced, SK Group confirmed Tuesday that its chief, Chey Tae-won, would step down as chair of the board of SK Holdings, the conglomerate’s holding company, to improve transparency in corporate governance.The company said in a statement that it was considering amendments to its articles that would forbid CEOs from concurrently serving as board chair. The board will also have more outside directors to make the organization more independent and transparent, it added. The
Korea's ICT Ministry sends back SKT’s 5G pricing plan
Mar 5, 2019
The South Korean government on Tuesday rejected the pricing plan of the country’s largest mobile carrier for its upcoming 5G wireless services.Following a meeting with an expert panel, the Ministry of Science and ICT announced that it cannot approve SK Telecom’s pricing plan. While it was not revealed exactly how much the mobile carrier is seeking to charge for the faster mobile service, the government said SKT’s pricing plan could “restrict the consumers’ right for choices.” (Yonhap)“Since SKT
As recruiting season begins, Korea Inc. seeks creativity
Mar 5, 2019
Major conglomerates in South Korea began recruiting staff this month, but they appear to have made noticeable changes in the way they hire new employees, according to industry watchers Tuesday.In a survey of 646 companies in Korea, 63.7 percent of large businesses in South Korea confirmed plans to hire new employees this month, according to Incruit, a local job seeking site.Affiliates of top conglomerates, such as Samsung, LG and SK, have also announced job openings and held a series of recruitm
Ministry names three new LCC operators
Mar 5, 2019
South Korea’s Transport Ministry announced Tuesday that it has designated Fly Gangwon, Aero-K and Air Premia as new low-cost carrier operators after more than three years of hiatus due to overcrowding of the local LCC market.The ministry said Fly Gangwon, Aero-K and Air Premia have passed the reinforced criteria for LCCs. Under the revision, companies planning to carry out flight operations are required to have at least 30 billion won ($26 million) in capital and five airplanes before they can b
BTS: The faces behind Mediheal moisturizing masks
Mar 5, 2019
Global K-pop superstar group BTS will provide the new faces behind the Mediheal line of moisturizing masks from L&P Cosmetics. The South Korean skin care firm’s promotional videos featuring BTS hit social media at the start of March and are getting a heated response from fans. BTS will be Mediheal’s global ambassador for a year. L&P Cosmetics said it has collaborated with BTS since 2017, even before the singers signed on as its official models. The firm’s 3,000 special BTS packages, containing f
[Going Renewable (2)] Lacking strategy, companies count cost of carbon trading
Mar 5, 2019
Experts say Korean firms lack eye for opportunities, while government puts too much pressure on too few
Samsung Bioepis gains approval to sell bigger-size Ontruzant in Europe
Mar 5, 2019
Samsung Bioepis has gained approval to sell bigger-size Ontruzant in Europe, the company said Tuesday.Ontruzant is a biosimilar for breast cancer treatment referencing Swiss firm Roche’s blockbuster drug Herceptin.Available as a powder used to make up a solution for adding to an infusion into a vein, the 150 milligram version hit shelves in Europe in March 2018, after gaining European Medicine Agency’s approval in November 2017. The firm can now sell 420mg versions of the biosimilar. Samsung Bio
Korea sets aside W235tr to back exporters
Mar 4, 2019
South Korea set aside 235 trillion won ($209 billion) for trade finance with the aim of backing struggling exporters amid growing uncertainties over global trade and a slowdown in chip exports, the nation’s key export driver. The Ministry of Trade, Industry and Energy said Monday, “This year, six financial institutions will provide a total of 235 trillion won, up 15.3 trillion won from last year, to back exporters through trade finance,” in a joint plan with other ministries, including the Finan
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