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Samsung BioLogics turns to development service: CEO

IndustryJun 21, 2017

SAN DIEGO — Samsung BioLogics, the contract drug manufacturing arm of South Korea’s Samsung Group, is planning to provide development support services to small pharmaceutical firms.Samsung BioLogics CEO Kim Tae-han said Tuesday that the company would “extend its business scope to into the field of (drug) development services” to widen its business portfolio beyond contract manufacturing.Samsung BioLogics CEO Kim Tae-han speaks at a press conference held in San Diego on Tuesday. (Samsung BioLogic
Tesla Korea begins deliveries of Model S 90D

TransportJun 21, 2017

Tesla Korea, a wholly-owned unit of the US-based electric car giant, on Tuesday started deliveries of its flagship Model S 90D cars, the company said.Owners of Tesla cars are now able to use autopilot, which consists of an advanced emergency braking system and a forward collision warning system, the company said.LTE network service for drivers is offered for free, replacing the 3G network it previously offered, the company said.In line with the deliveries, Tesla Korea has secured four high-speed
Foreign carmakers seek bigger market portion with new models in H2

TransportJun 21, 2017

Riding on the sales momentum of imported cars in South Korea, foreign auto brands are planning to release new models in the second half of this year and to improve after-sales service.Imported cars have increasingly expanded their presence here, recording a boost in sales in the first five month of this year, industry data showed. A total of 94,367 units of imported cars were sold, marking a 1.2 percent year-on-year growth between January and May, according to data compiled by the Korea Automobi
Moon denounces N. Korea over Warmbier’s death

PoliticsJun 20, 2017

President Moon Jae-in on Tuesday held North Korea accountable for the death of an American student who died shortly after his release from detention in the communist state, calling the regime “irrational.”“We can make speculations that there were many unjust and cruel treatments to Mr. Warmbier and I strongly condemn such cruel actions by North Korea,” the South Korea president said in his exclusive interview with US news outlet CBS.“We cannot know for sure that North Korea killed Mr. Warmbier,
Mother of babies in freezer feared losing boyfriend

Social affairsJun 20, 2017

The mother who put the dead bodies of her two babies in a freezer did so out of fear she would lose her boyfriend if he found out about her pregnancies and childbirths, police said Tuesday. The 34-year-old suspect, surnamed Kim, was arrested Saturday for infanticide and abandoning of the corpses. 　According to police, Kim confessed to hiding the corpses in the freezer because her cohabiting boyfriend was not the father of the babies. (Yonhap)Police tentatively concluded there was a remote possi
[Graphic News] France has highest minimum wage in the world

World NewsJun 20, 2017

France has the highest minimum wage in the world, according to the Organization for Economic Cooperation and Development. Its after-tax rate of $11.20 per hour is followed by Australia with $11.10 and Luxembourg with $11. Germany and Belgium are among the top five countries, with minimum hourly wages of $10.30 and $10.20, respectively, the OECD said. The United States ranked 12th, with a federal minimum wage of $7.20 per hour. Mexico came in last out of 32 countries, with the lowest take-home mi
[Clive Crook] What the British election means for Brexit

ViewpointsJun 20, 2017

The UK’s Brexit ordeal looked complicated and unpredictable even before the election. Now things are worse. Theresa May is weakened by her narrow victory -- the closest thing to a humiliating defeat a technical win could be. From now on, she’s even less in command of the process. One more slip and she might be out of a job. Another election is possible, to be followed by who knows what.So where does this leave Brexit? The popular line of analysis is that a weakened May will no longer be able to
[Komal Sri-Kumar] Euro’s outlook brightens as Germany fills void

ViewpointsJun 20, 2017

President Donald Trump’s recent decisions have a left a void in the US’ global leadership. He decided to reduce the country’s global trade ties by withdrawing from the Trans-Pacific Partnership, insisted that North Atlantic Treaty Organization allies pay their “rightful share” of 2 percent of gross domestic product for their defense, and announced that the US would exit the Paris climate accord.US leadership and global integration -- through closer trade, currency and policy-making ties -- have
[Satyajit Das] Asking the wrong questions on energy

ViewpointsJun 20, 2017

To adapt Thomas Pynchon, if the wrong question is asked, the answer doesn’t matter. Today, the world seems to be consciously framing its energy problems in a way that avoids the right questions, and thus true solutions.Human advancement is intrinsically linked to the development of motorized power driven by fossil fuels. Unfortunately, the resource itself is finite and has serious byproducts, notably carbon dioxide, which may pose an existential threat by worsening climate change. A logical resp
[Other view] Europe’s smart compromise on London clearing

ViewpointsJun 20, 2017

The City of London has been anxiously awaiting the European Commission’s review of clearinghouses that handle euro-denominated transactions. It’s a nice line of business -- one the European Central Bank, even before Brexit, had wanted to bring more firmly under its supervision. The question was, would euro clearing have to migrate from London?The report is out and the answer is: not necessarily. The commission is wisely suggesting a compromise.Clearinghouses provide an essential service, guarant
[Editorial] Tight rope

EditorialJun 20, 2017

The controversy over the remarks of top presidential security aide Moon Chung-in shows how narrow the tightrope we will have to walk will be.As the aide’s indication of the possibility of scaling down the South Korea-US joint exercise made strong repercussions in both Seoul and Washington, Cheong Wa Dae rushed to play down the controversy. Senior Cheong Wa Dae officials said Monday that the presidential office delivered a “stern warning” to Moon that his comments do not help with the alliance wi
[Monitor] Fruit price hit highest in 4 years

TransportJun 20, 2017

The price of major fruits sold in South Korea has hit the highest level in four years last month, data showed Tuesday. According to the data compiled by Statistics Korea, the price index of 15 major fruits including apples, pears, grapes, strawberries and tangerines, surged to 118.15 in May, the highest since May 2013, when the figure stood at 118.18.
Naming of new BOK policymaker delayed

MarketsJun 20, 2017

The naming of a new member of the Bank of Korea’s monetary policy committee has been delayed, leaving the central bank without a tie-breaking vote in the upcoming rate-setting meeting in July.Jang Byung-wha, senior deputy governor at the BOK and a member of the bank’s seven-member board, is to finish his three-year term as board member Saturday this week. The deputy governor is appointed by the president, based on the recommendation by the BOK governor. However, BOK Gov. Lee Ju-yeol
Moon names NSC deputy, science secretary

PoliticsJun 20, 2017

President Moon Jae-in on Tuesday named two presidential aides, while Cheong Wa Dae’s nomination committee convened for the first time as the presidential office moves to step up the vetting process. In the latest personnel selection, Moon picked Nam Gwan-pyo, South Korea’s ambassador to Sweden, as the second deputy chief of the National Security Council. Nam is a career diplomat who is currently serving his second ambassadorial post. He has also headed the Ministry of Foreign Affairs’ policy pla
World’s biggest pop-up film festival finds way to Seoul

FilmJun 20, 2017

The world’s largest global pop-up film festival is returning to Korea this summer, blending performances, art and international films to create an immersive cinematic experience. Taking place simultaneously in 150 cities and 60 countries across the globe, the Future Shorts Film Festival has one key aim -- to expose its half-a-million and growing audience to experiences that take them outside of their daily lives and allow them to explore new worlds. A Future Shorts Film Festival screening takes