Telecom firms to invest W25tr in 5G infrastructure
TechnologyJul 15, 2020
The ICT Ministry of South Korea on Wednesday announced that the government and the nation’s major telecommunications firms would invest around 25 trillion won ($22 billion) by 2020 to expand the nation’s 5G infrastructure. The agreement came after the meeting between ICT Minister and the leaders of the nation’s three major telecommunications firms, SK Telecom CEO Park Jung-ho, KT CEO Koo Hyun-mo and LG U+ Vice Chairman Ha Hyun-hwoi. During the meeting, ICT Minister Choi stre
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![[News Analysis] Reason why Korea assigns more budget to COVID-19 vaccine than treatment](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=643&simg=/content/image/2020/07/15/20200715000574_0.jpg)
[News Analysis] Reason why Korea assigns more budget to COVID-19 vaccine than treatmentIndustryJul 15, 2020South Korean government officials on Tuesday held an explanatory session with pharmaceutical company researchers to go over the details of how the extra budget assigned for COVID-19 vaccine and treatment development will be utilized. What drew special attention was how the development of vaccines had more budget set aside for support than treatments, albeit by a small margin. The Ministry of Health is giving 45 billion won ($37.5 million) to support all phases of clinical trials for COVID-19 -
Korea should partner with Germany for hydrogen economy: reportIndustryJul 15, 2020South Korean companies should partner with German firms to develop hydrogen technologies and actively take part in related projects to make the best use of the European country’s new hydrogen road map, according to a report Wednesday. The state-run Korea Trade-Investment Promotion Agency (KOTRA) released a report titled “Current status of the German hydrogen industry and Korean firms’ entry strategy,” highlighting that local firms should advance into Germany’s hy
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Renault Samsung Motors unveils face-lifted SM6TransportJul 15, 2020Renault Samsung Motors unveiled a revamped version of its midsized sedan SM6 on Wednesday, four years after it was launched. The new SM6 has been upgraded by adopting a renewed powertrain to improve the driving performance, along with a new rear suspension and driving assistant function to offer driving comfort. For the exterior, the automaker added new color options including silver, gray and red. The newly added dynamic turn-signal light has made the exterior more aesthetic -
![[Monitor] Record-high unemployment allowances paid out in June](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=643&simg=/content/image/2020/07/14/20200714000707_0.jpg)
[Monitor] Record-high unemployment allowances paid out in JuneIndustryJul 15, 2020Over 1.11 trillion won was spent as allowances for job seekers in June this year, marking a record high monthly payout and jumping 62.9 percent on-year, the Employment and Labor Ministry said. The amount of unemployment allowance had surpassed the 1 trillion threshold for the first time in May, as the number of jobless surged upon the COVID-19 pandemic. (khnews@heraldcorp.com) -
LG Chem takes SK Innovation complaint to prosecutionIndustryJul 14, 2020LG Chem said Tuesday that it has filed a criminal complaint with the prosecution against SK Innovation, accusing it of stealing trade secrets concerning electric vehicle batteries. The SK Group affiliate is already being probed by the South Korean police and the US International Trade Commission. According to LG Chem, it filed the complaint with the Seoul Central District Prosecutors’ Office last week because the Seoul police investigation -- upon its complaint in May last year -- is -
Hyundai’s Chung, Naver’s Han support ‘New Deal’IndustryJul 14, 2020Joining South Korean President Moon Jae-in’s quest to pioneer new technologies and industries in the post-COVID-19 era, Hyundai Motor Group Vice Chairman Chung Euisun and Naver CEO Han Seong-sook on Tuesday presented their company visions via a teleconference broadcast at Cheong Wa Dae. Chung and Han, who lead the country’s biggest automaker and internet portal operator, respectively, expressed support for the government’s five-year “New Deal” policy drive, which -
National hydrogen drive creates perfect window for Korean conglomeratesIndustryJul 14, 2020Hyosung, Kolon, Hanwha bring together affiliates for hydrogen opportunities -
Hanwha Defense receives record score on productivity testIndustryJul 14, 2020Hanwha Defense on Tuesday received a record score on a government productivity test, becoming the first company in South Korea to attain level 8 out of 10. According to the Korean defense company, it scored 722.6 points on the Productivity Management System test conducted by the Industry Ministry and the Korea Productivity Center, getting level 8 in six of the seven categories: leadership; innovation; customers; workforce; process; and measurement, analysis and knowledge management. Level -
LG launches global expert group on future technologiesTechnologyJul 14, 2020LG Electronics has launched a global expert group for the purpose of developing insights on new technologies and discovering new business opportunities, the company announced Tuesday. Chaired by LG’s Chief Technology Officer Park Il-pyung, the expert group dubbed as “Innovation Council” will serve as a body that will bring together 12 tech experts around the world and give them chances to discuss new trends and industrial moves. The members include Robust AI CTO Rodney Br -
Samsung heir lays out 6G vision in new white paperTechnologyJul 14, 2020Samsung Electronics on Tuesday announced its vision for the sixth-generation telecommunications network by releasing a white paper supervised by Vice Chairman Lee Jae-yong. The white paper entitled “The Next Hyper-Connected Experience for All,” outlines Samsung’s vision for 6G, covering various aspects related to the next-generation network system, including technical and societal megatrends, new services, requirements, candidate technologies and an expected timeline of sta -
FugenBio presents ceriporia lacerata as new treatment for diabetesIndustryJul 14, 2020FugenBio, a South Korean bio firm using original materials to develop health care and medical products, announced Tuesday it has found novel materials to treat diabetes after its decade-long research. The firm’s CEO Kim Yoon-soo said at a press conference that it has received approval for its breakthrough fungus ceriporia lacerate from the local Drug Ministry as a viable health supplement ingredient. “If it succeeds, we would be the world’s first to develop and commercialize -
Korea to open Asia’s first bioprocessing HR training centerIndustryJul 14, 2020The South Korean government announced Tuesday it will inject 61.9 billion won ($51.3 million) by 2025 to foster Asia’s first human resources platform for bioprocessing talents. Ministers of trade and health -- Sung Yun-mo and Park Neung-hoo -- attended the signing of a memorandum of understanding in central Seoul. In what would be Asia’s first state-driven agenda to foster bioprocessing professionals, the memorandum holds the Trade Ministry responsible for establishing a good manuf -
Korean Air releases video promoting hygiene procedures in planesTransportJul 14, 2020South Korean full-service carrier Korean Air has released a video featuring Korean Air CEO Cho Won-tae and some 30 employees disinfecting the inside of an airplane, the airline said Tuesday. In a video titled “We are waiting for you,” which runs just over a minute and a half, Cho and the employees sanitize the interior of the plane by spraying disinfectant on shelves, monitors, safety belts, tables and lavatories. The disinfectant, called MD-125, is effective for seven days. -
Jin Air to resume flight to Chinese city of XianTransportJul 14, 2020Low-cost carrier Jin Air Co. said Tuesday it will resume its flights to the Chinese city of Xian, about six months after suspending them due to the new coronavirus outbreak. A 189-seat B737-800 is set to depart Thursday from South Korea's southern resort island of Jeju at 8:30 a.m. in the resumption of a weekly flight to Xian. Jin Air stopped its flights to Xian on Jan. 30 following the outbreak of the COVID-19 pandemic from China late last year. Jin Air had suspended all of its internationa
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