European Union regulators are set to veto Hyundai Heavy Industries Co.'s proposed acquisition of its smaller rival Daewoo Shipbuilding & Marine Engineering Co., citing monopoly issues, industry sources said Wednesday. Within this week, the EU's antitrust regulator will likely announce its decision to block the merger of the South Korean shipbuilders, arguing the tie-up could create a monopoly in...

The first whistleblower on ruling Democratic Party of Korea presidential nominee Lee Jae-myung's alleged payment of legal fees by proxy in 2018 was found dead Wednesday, after he had gone missing for days. The latest is the third death reported among those related to allegations surrounding Lee, which has again raised calls for exhaustive investigations into Lee's suspected charges from the oppo...

“The young dancers’ pure zest for dancing was incredible. I think their dance moves filled with passion were able to touch the viewers’ hearts. ... As a producer, I sought to offer the dancers an opportunity to show their skills and talents on the stage amid the losses and missed opportunities caused by COVID-19,” Kim said. If there was one thing the program producers failed to satisfy with view...

Omicron may spell the beginning of the end of the pandemic, a leading infectious disease doctor at South Korea’s top national hospital said Wednesday. Dr. Oh Myoung-don, who heads the National Medical Center‘s committee for clinical management of emerging infectious diseases, told a news conference Wednesday, “Omicron is a distinctly different virus from the coronavirus as we know it. COVID-22, ...

North Korea successfully conducted the second consecutive test-firing of a “hypersonic missile” in less than a week for “final verification” on Tuesday, while the country’s leader Kim Jong-un urged bolstering “strategic military muscle” according to state media reports the following day. The North Korean state media suggested that the country successively test-fired an identical maneuverable ree...

ABL Bio has signed a contract worth up to $1.06 billion (1.27 trillion won) with French pharmaceutical firm Sanofi to co-develop ABL301, an antibody treatment candidate for degenerative brain diseases including Parkinson’s disease, the Korean biotech company said Wednesday. ABL Bio will receive $75 million in down payments, according to the deal. The Korean biotech company will also be able to r...

The idea of abolishing the Ministry of Gender Equality and Family has reemerged as a hot topic, after presidential candidate Yoon Suk-yeol of the main opposition People Power Party proposed it as an election pledge. When the conservative party candidate made the simple pledge in plain words, “Abolition of the Ministry of Gender Equality and Family,” via Facebook on Saturday without further elabo...

The ruling party's presidential nominee vowed to ensure South Korea‘s yearly exports reach $1 trillion within his five-year term by fostering traditionally strong and novel sectors and diversifying trade routes. Lee Jae-myung of the Democratic Party of Korea said in an event Wednesday that, if elected, his government would lead a digital transition in the manufacturing sector and foster the rene...

Naver D2 Startup Factory has made a follow-on investment in local e-commerce data startup Datarize, the IT giant said Wednesday. Stonebridge Ventures led the series A funding of Datarize with co-investments from Weventures, Korea Development Bank and Mirae Asset Venture Investment. The total funding amounted to 11.5 billion won ($9.6 million). Naver D2 Startup Factory had previously taken part i...

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South Korea and India have agreed to resume negotiations to upgrade their bilateral trade pact next month after more than two years of hiatus, Seoul's trade ministry said Wednesday. The two nations implemented the Comprehensive Economic Partnership Agreement (CEPA) in January 2010 and began talks to upgrade the pact in 2015. But negotiations have been suspended since June 2019 due to the COVID-...

“We will continue to solidify our position as a brand that leads premium lifestyles with various marketing activities that elevate consumers’ lifestyles including Ballantine’s new campaign,” said Kim.

The Ministry of Education is again drawing fire over sharing cartoons encouraging students to be vaccinated against COVID-19 despite the court order suspending vaccine mandate measures on education facilities for young students. On Friday, the ministry posted a cartoon on its social media account, titled “Why did these friends have to take out tteokbokki (rice cakes in a red chili sauce)?” The ...

The prolonged lockdown in the Chinese city of Xi'an will have minimal impact on the performance of Samsung Electronics Co., which has a chip fabrication complex there, analysts said Wednesday. Samsung, the world's largest memory chip maker, temporarily adjusted operations at its NAND flash chips manufacturing base in the city late last month, following the city's draconian restrictions imposed o...

South Korea's drug safety agency on Wednesday approved an authorization of US-based biotechnology company Novavax Inc.'s COVID-19 vaccine. The protein-based vaccine, Nuvaxovid, marks the fifth COVID-19 vaccine to get approval for use here, following the ones by British-Swedish pharmaceutical giant AstraZeneca and Oxford University, Pfizer Inc., Johnson & Johnson and Moderna Inc. The Ministry of...