Chinese smartphone maker Huawei said Tuesday that it will launch its latest budget “H” smartphone in South Korea this week, targeting consumers looking for cheaper alternatives to expensive high-end smartphones.　Huawei’s “H” smartphone will be sold exclusively through local network carrier LG Uplus starting from Thursday. The new device, an upgraded version of Huawei’s budget Y7 smartphone introduced here last December, is priced at 242,000 won ($220). It comes in two colors -- black and white.H

South Korean prosecutors requested a warrant to arrest Lotte Group Chairman Shin Dong-bin on Monday as the criminal investigation into alleged corruption at Korea’s fifth-largest conglomerate nears its climax.The Seoul Central District Prosecutors’ Office said it has asked the local court to issue an arrest warrant for the group’s highest-ranking executive on charges of embezzling and misappropriating some 170 billion won ($154 million) over the past decade. Lotte Group chairman Shin Dong-bin ar

South Korean telecom company LG Uplus on Monday said that it has partnered with Ssangyong Motor and Tech Mahindra, the internet technology unit of Indian automaker Mahindra & Mahindra, for the development of new connected car technologies.　The three companies signed a memorandum of understanding in Seoul, agreeing to team up for the development of new platform technologies and network services for Ssangyong’s connected car business. L. Ravichandran, President & COO of Tech Mahindra (left); Yoon

Samsung Electronics Vice Chairman Lee Jae-yong ranked 18th on Bloomberg’s annual list of the “50 Most Influential People in the World of Finance” published Thursday.　Bloomberg’s 50 Most Influential list -- now in its sixth edition -- highlights prominent figures who command the most power and influence over global financial markets, as chosen by Bloomberg’s senior reporters and editors worldwide.Lee made the Bloomberg list alongside other chiefs of major tech companies such as Tesla Motors co-fo

A string of false consumer allegations that their Galaxy Note 7 devices caught fire is dampening Samsung Electronics’ efforts to restore its reputation and consumer trust hurt by faulty batteries prone to potential explosions.Since announcing a worldwide recall of its new large-size smartphone earlier this month, the South Korean tech giant has received a total of 26 false reports of Galaxy Note 7 fires, the company said Wednesday. Samsung’s Galaxy Note 7 (Yonhap)For 12 of the 26 reported cases,

French pharmaceutical giant Sanofi has filed a patent infringement lawsuit against US-based Merck & Co. over a Lantus biosimilar the US drugmaker developed with partial funding from Samsung Bioepis.　Sanofi on Monday sued Merck & Co. in the US District Court of Delaware, claiming that Merck’s international division Merck Sharp & Dohme infringed as many as 10 patents held by the French drugmaker for its blockbuster diabetes treatment Lantus and its injection device SoloStar.　The French company sai

South Korea’s newly-appointed Agriculture Minister Kim Jae-soo pledged to swiftly address the pressing issues facing the country’s agricultural sector in his first official appearance before the press on Tuesday.　“The industry’s top priorities as of now are stabilizing rice prices, dealing with the negative impacts of the new antigraft law and fortifying the country‘s reservoirs to better withstand earthquakes,” Kim told reporters during a press meeting held in Sejong City.　“We have created an e

Searching for new, promising businesses to propel their continued growth in the future, South Korea’s leading conglomerates have arrived at a common destination -- biotechnology.　Korea’s top tech giants Samsung Group and LG Group, alongside telecom-focused SK Group, have all set sights on biotechnology as a promising business of the future and are swiftly moving to drive up their presence in the field with hefty investments.　Biotechnology, which has applications across multiple industries, refer

TEAVANNA TAKES OFF IN KOREA -- Starbucks Korea employees celebrate the local launch of the company’s flagship tea brand Teavanna at a Starbucks outlet inside the Starfield Hanam shopping complex in Hanam, Gyeonggi Province on Sept. 6. Since its official launch, more than 1 million Teavanna drinks have been sold at Starbucks outlets nationwide as of last Friday, according to Starbucks Korea. (Starbucks Korea) TEAVANNA TAKES OFF IN KOREA -- Starbucks Korea employees celebrate the local launch of t

   Samsung Electronics will begin rolling out replacements of the Galaxy Note 7 in South Korea and the US this week, moving fast to restore consumer trust hurt by faulty batteries prone to potential explosions.　The new Galaxy Note 7 replacement devices, equipped with new batteries, will become available in Korea from Monday and in the US from Wednesday, according to Samsung’s latest announcement.　The ongoing recall affects Samsung Galaxy Note 7 smartphones released in 10 nations last month, incl

The recent large-scale recall of the Galaxy Note 7 smartphone over faulty batteries has not significantly impacted foreign consumers’ brand loyalty to Samsung Electronics, according to some online polls by internet news websites on Monday.　According to an online survey of 11,759 internet users by US technology news website Android Police, around 39 percent said that the recall “hasn’t affected my trust or perception of Samsung’s brand (whether positive or negative).”Some 36 percent of the respon

South Korea’s top chemicals company LG Chem on Monday said it has decided to merge with its biopharmaceuticals unit LG Life Sciences to drive up its competitiveness in the biotechnology business.　The two companies said in a joint regulatory filing that each company approved of the merger -- plans for which had been recently publicized via media reports -- during a board meeting Monday.“The merger reflects LG Group’s aims to nurture its biotechnology business and bridges the strategic needs of th

Starfield Hanam, South Korea’s largest shopping mall complex operated by local retail giant Shinsegae Group, officially opened its doors to the public on Friday.　　Designed as an all-in-one space for shopping, dining, leisure and entertainment, Starfield aims to become a so-called “shopping theme park” for locals looking to spend a relaxing as well as interactive day at the mall, Shinsegae said.　“We worked hard to make Starfield Hanam more than just a shopping mall but a ‘shopping theme park’ off

South Korean network operator SK Telecom said Thursday that it has partnered with the Korea Expressway Corp. and the Korea Electronics Technology Institute to start developing a new network technology for connected cars -- a business forecast for sharp future growth.The three companies signed a memorandum of understanding in Seoul, agreeing to cooperate for the co-development of the next-generation “Vehicle-to-Everything,” or V2X, technology.V2X refers to technology embedded in automobiles that

SUPER MOON PROJECT IN JAMSIL -- Lotte Group and the Songpa District Office are together showcasing the “Super Moon Project” -- a 20-meter-wide sphere-shaped installation accompanied by eight smaller inflatable sculptures symbolizing planets -- at the Seokchon Lake next to the Lotte World Mall in Jamsil, southeastern Seoul from Sept. 1-30. The moon and the planets will be lit up in seven different colors from 6-10 p.m. every day this month. The project was created by FriendsWithYou, a Los Angeles