Most Popular
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Contentious grain bill put directly to plenary meeting for vote
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Yoon's approval rating plunges to all-time low
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Will tug-of-war between doctors, government end soon?
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Climate impacts set to cut 2050 global GDP by nearly a fifth
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Trilateral talks acknowledge ‘serious’ slumps of won, yen
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[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs
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North Korea removes streetlights along cross-border roads with South
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Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
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Farming households dip below 1m for first time in 2023
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S. Korea votes in favor of Palestinian bid for UN membership
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Huons acquires marketing rights for Sputnik Light in S. Korea
Local bio company Huons Global has secured marketing rights for Russian COVID-19 vaccine Sputnik Light in South Korea, the company announced Wednesday. Huons Global will be in charge of the authorization procedure for the Russian vaccine. Huons could also apply for emergency use authorization from Korea’s Ministry of Food and Drug Safety, the company added. A consortium led by Huons Global will begin producing Sputnik V and Sputnik Light, starting in the second half this year. Sputni
July 7, 2021
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LG Electronics Q2 operating profit reaches W1.1tr, up 65.5%
LG Electronics said Wednesday its operating profit in the second quarter is estimated at 1.11 trillion won ($979.4 million), up 65.5 percent on-year. In a regulatory filing, the firm said its sales during the April-June period is likely to have reached 17.11 trillion won, an increase by 48.4 percent from a year earlier. The company’s quarterly operating profit would top 1 trillion for a second consecutive quarter, the earnings guidance showed. In the first quarter, the electronics gia
July 7, 2021
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Hyundai Pharm seeks approval for abortion pill
Hyundai Pharmaceutical announced Tuesday that it had filed an application for authorization to market an abortion pill in South Korea. Mifegymiso consists of one tablet of mifepristone and four tablets of misoprostol. Mifepristone, formerly RU-486, is known by the brand name Mifegyne in Korea. In March this year, Hyundai Pharm signed an exclusive agreement with Linepharma International to sell Mifegyne in the Korean market. If approved, Mifegymiso would become the first legal abortion pill
July 6, 2021
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[News Focus] Critics call time on ‘shutdown law’
Disputes are raging across online communities and political circles in South Korea over the controversial “shutdown law” that purportedly protects children from excessive gaming. Last week, an online petition was filed to the presidential office of Cheong Wa Dae, claiming that the “Cinderella law” is denying access to the child-friendly game Minecraft. Popular YouTubers who play the global hit game for younger audiences, also criticized the regulation, saying they are
July 6, 2021
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S. Korea faces increasing ransomware attacks this year
South Korea's ICT ministry said Tuesday the country reported 78 ransomware attacks in the first half of the year in the latest sign of growing cyberattacks. Ransomware is a type of malware that holds a target's data hostage or locks up its systems until a ransom is paid. It is not immediately clear whether the targeted companies paid ransoms to hackers in return for restoring access to their data. The latest figure represents a rising trend, compared with 22 in 2018, 39 in 2019 and 127 cases
July 6, 2021
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Joseon-era govt. office, palace rituals to be reborn through AR, VR technology
The Seoul metropolitan government said Tuesday it is developing augmented reality (AR) and virtual reality (VR) platforms to enable the public to virtually experience a government office and historical palace rituals from the Joseon Dynasty (1392-1910). The city government will develop the platforms in partnership with the Cultural Heritage Administration, Woomi Construction Corp. and Cheil Worldwide Inc. under an agreement signed Tuesday, and unveil them to the public next year. The project w
July 6, 2021
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S. Korea, Israel to speed up joint R&D projects
South Korea and Israel said Monday they plan to speed up joint research and development projects to cope with the changing business environment amid the COVID-19 pandemic. The announcement came after the two countries announced earlier this year that they will increase contributions to the Korea-Israel Industrial R&D Foundation. The foundation kicked off in 2001 to promote bilateral technology exchanges. In May, South Korea and Israel vowed to each disburse $4 million annually for the foun
July 5, 2021
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[News Focus] Apple’s free update of lossless format to reshape digital music in Korea
Last month,Apple rolled out two big updates -- a lossless audio format and Dolby Atmos support -- for its flagship digital music service. As Apple Music subscribers get the two upgrades at no extra charge, attention is now placed on Korean digital music providers that offer similar content in separate pay plans. With the updates, Apple switched over 20 million tracks to a lossless format named ALAC, or Apple lossless audio compression. Apple said it plans to make its entire catalogue of over 7
July 5, 2021
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SKT offers a glimpse of what mmWave 5G network would be like
South Korea’s top wireless carrier SK Telecom said Monday that the company has started a test run of its 5G network running on the 28-gigahertz bandwidth at Coex, in Samseong-dong, Seoul. For the test run of super-fast wireless connection, the company has set up an exhibition at a 36,000-square-meter area at Coex, offering a glimpse into SKT’s future technology businesses, such as the metaverse. During the event, which runs through Sunday, anyone who visits can use the “mi
July 5, 2021
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Samsung likely to unveil three foldable phones on Aug. 11
Samsung Electronics will unveil a lineup of new mobile devices, including foldable phones, next month, according to industry sources on Monday. Industry watchers say that Samsung will be holding a Galaxy Unpacked event at 11 p.m. on Aug. 11, Korea time, which will be livestreamed from Seoul. Samsung, however, hasn’t yet sent out an official invitation to its partners and media worldwide. Regarding the schedule, Samsung said it is not yet fixed. The upcoming show will be the first th
July 5, 2021
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[Newsmaker] Cyworld comes alive again
Cyworld, the dominant social networking site here before the era of Facebook throughout the 2000s, was set to reopen Monday evening, with many in their 30s and 40s ripe with anticipation to revisit their past. Cyworld Z, the company that bought Cyworld in January this year, said it has recovered some 17 billion photos and over 100 million videos stored in the old servers. With nearly 32 million members at one point, Cyworld was the uncontested champion of social media here, as the country&rsqu
July 5, 2021
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S. Korea to offer sea radiation level via website
South Korea's oceans ministry said Sunday it plans to launch a new platform to provide the latest information on the radiation level in local seas to the public amid growing safety concerns over Tokyo's planned release of contaminated water. "We plan to minimize the public's concerns over the safety of our waters and seafood, and bolster monitoring on the radiation level of the ocean," the Ministry of Oceans and Fisheries said in a statement. In April, the Japanese government said it
July 4, 2021
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LG invests W100b in Kakao Mobility
LG Corp., the holding company of Korea’s fourth-biggest conglomerate, on Friday inked a 100 billion-won ($88 million) investment deal with Kakao Mobility as part of efforts to discover new opportunities in future mobility. Both sides did not reveal how much stake LG would acquire in the digital transportation service app operator with the latest deal. LG said the investment was made as part of considerations to develop potential synergy between the conglomerate’s affiliates and
July 2, 2021
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SK Biopharm aims to crack ranks of world’s top 10 health care companies
South Korean central nervous system drug developer SK Biopharmaceuticals CEO Cho Jeong-woo vowed to help the firm attain a value of 50 trillion won ($44.02 billion) by 2030 and make the list of the world’s top 10 health care firms. SK Biopharm shared its latest corporate vision during an online event titled “Financial Story,” held Friday. During the event, SK Biopharmaceuticals presented detailed strategies to achieve the goal. SK Biopharm said the company would launch mor
July 2, 2021
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LG Chem chief takes initiative to attract top talent
LG Chem Vice Chairman Shin Hak-cheol has rolled up his sleeves to recruit top-tier talent who could lead the company’s future research and development under environmental, social and governance standards. The chemical affiliate of LG Group on Friday held a conference at InterContinental Seoul COEX in southern Seoul, inviting 45 engineers who are pursuing master’s or doctorate degrees at local universities and research institutions. LG Chem’s executives joined the conferenc
July 2, 2021
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Korean biz community expresses concerns about OECD ‘digital tax’
South Korea’s business community expressed concerns Friday about a global move toward additional taxes on technology companies that would affect Korean tech giants such as Samsung Electronics and SK hynix. The Federation of Korean Industries, an organization that represents the interests of Korean businesses, said in a statement, “We express concerns about the side effects of an agreement on the digital tax announced by the Organization for Economic Cooperation and Development.
July 2, 2021
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LG Chem receives positive phase 2 clinical study results for gout treatment candidate
LG Chem announced Thursday that the company received positive results from the phase 2 clinical trial of its gout treatment candidate LC350189 in the US. LC350189 is a novel nonpurine selective inhibitor of xanthine oxidase, which oxidizes both hypoxanthine and xanthine to uric acid. High uric acid levels can increase the risk of gout. The phase 2 clinical trial in the US, which involved 156 patients, showed efficacy of the gout treatment candidate in lowering uric acid levels, accordi
July 1, 2021
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Seegene inks partnership with Bio-Rad to sell its diagnostic tests in the US
South Korean diagnostics company Seegene said Thursday that the company has partnered with Bio-Rad Laboratories for the clinical development and commercialization of diagnostic products in the US. Under the agreement, Seegene will provide the company’s diagnostic tests for use on Bio-Rad’s molecular diagnostic CFX96 Dx Real-Time PCR Detection Systems. The contract will run for five years from the date that the two companies win approvals from the US Food and Drug Administration.
July 1, 2021
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LG U+ upbeat about Disney partnership on content streaming
The chief of LG U+, the smallest of the three major mobile carriers in South Korea, on Wednesday expressed confidence that Disney would choose it as the local partner for its Disney+ streaming service launch, slated for September. “Disney puts its top priority on customer convenience and requires very high standards in terms of quality of content service,” said CEO Hwang Hyeon-sik, during his first press conference since taking office seven months ago. His remarks were embargoed un
July 1, 2021
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S. Korea's 5G users near 16m in May
South Korean mobile users on 5G networks reached nearly 16 million in May, data showed Thursday, as telecom operators seek to expand applications of the next generation networks. As of the end of May, 5G subscriptions stood at 15.84 million, accounting for 22 percent of the total 71.45 million mobile subscriptions in the country, according to the data from the Ministry of Science and ICT. South Korea has a population of around 51 million. Top mobile carrier SK Telecom Co. had the most 5G subsc
July 1, 2021