Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Korea’s homegrown nanosatellite successfully launches into space
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[Herald Interview] 'Amid aging population, Korea to invite more young professionals from overseas'
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Nicaragua shuts down Seoul embassy
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Medical reform committee kicks off despite boycott from doctors
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Hybe's multilabel system tested amid conflict with Ador
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SNU profs to suspend treatment for one day
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Rocket engine expert, ex-NASA exec to lead Korea's new space agency
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Over-50s, men, single-person households take up majority of those filing for bankruptcy
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SK hynix pledges W20tr to ramp up DRAM production at home
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With nod from creditors, Taeyoung chief vows utmost self-rescue efforts
Taeyoung Group founder and Honorary Chairman Yoon Se-young urged its employees to make all-out efforts to bring its debt-ridden builder Taeyoung Engineering & Construction back on track, after creditors confirmed Friday their approval for a debt restructuring program. "The debt workout has begun, backed by the strong support of creditors. This is because (the creditors) saw a high possibility of Taeyoung E&C's normalization," Yoon announced in a statement uploaded on the
Jan. 12, 2024
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[CES 2024] SK attracts over 60,000 visitors to 'theme-park' showroom of AI, net-zero future
SK Group showcased its artificial intelligence and carbon-neutrality visions at its "theme-park" concept exhibition at CES 2024, attracting over 60,000 visitors in the four-day tech show. Wrapping up the exhibition on Friday, SK Group said it received more than double the number of visitors at its pavilion set up at Las Vegas Convention Center compared to last year. SK's seven affiliates, including SK Inc., SK Innovation, SK hynix, SK Telecom, and SK E&S, participated in setti
Jan. 12, 2024
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[CES 2024] GS Group leader calls for acceleration of future business
GS Group Chairman Huh Tae-soo has called on the conglomerate’s affiliates to take their respective technologies to the next level and move toward future businesses, during his visit to the CES 2024 held at the Las Vegas Convention Center, Las Vegas, from Tuesday to Friday. According to the Korean energy, retail and construction giant, Huh looked around the exhibition booths of not only Korean conglomerates such as Samsung, Hyundai Motor and LG, but also those of global firms such as Goog
Jan. 12, 2024
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SK Networks invests W25b in Upstage
SK Networks on Friday announced that it will invest 25 billion won ($19 million) in Upstage, a Korean startup specializing in generative AI solutions, as it seeks to expand its business in the emerging technology. The company, a general trading affiliate of SK Group, said it forged the deal to support Upstage, which is leading in the private large language model market, becoming the lead investor in the startup's Series B funding. “We are looking to back Upstage's market expa
Jan. 12, 2024
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[JPM 2024] Celltrion chief vows to set up W100tr fund via IPO
SAN FRANCISCO -- Korean biosimilar giant Celltrion's Founder and Chairman Seo Jung-jin on Wednesday pledged to establish a 100 trillion won ($75 billion) health care fund through the initial public offering of the holding firm of Celltrion Group, as soon as later this year or early 2025. Seo envisions the listing of Celltrion Holdings to harness the generated funds for future initiatives in the biopharmaceuticals sector. Seo holds a 98.5 percent stake in the firm. "With the forthcoming
Jan. 11, 2024
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[CES 2024] HD Hyundai CEO vows innovations as ‘future builders’
LAS VEGAS -- HD Hyundai's Vice Chairman and CEO Chung Ki-sun declared on Wednesday the company's transition to a technology-driven construction solutions provider, revamping its traditional heavy industry roots, in a keynote speech at CES 2024. It was the first time that the head of a South Korean company that does not make electronics has delivered a keynote speech at the world's largest tech show. "Construction has always played a pivotal role in building the bedrock of the
Jan. 11, 2024
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Samsung C&T builds world's 2nd-tallest building in Malaysia
Samsung C&T has completed the construction of a 118-story skyscraper in Malaysia, the second-tallest building in the world, the company said on Thursday. The construction and trading firm under Samsung Group held an opening ceremony on Wednesday for finishing Merdeka 118, a 679-meter complex building in the central area of Kuala Lumpur. “Samsung C&T has solidified its leading position in the high-rise construction sector through completing both the world’s first and second ta
Jan. 11, 2024
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[JPM 2024] Kakao Healthcare's AI diabetes solution to hit Japan, US markets
SAN FRANCISCO -- Kakao Healthcare, the digital health care unit under Korea's platform giant Kakao, revealed its aspirations to launch the AI-based blood sugar management service, PASTA, in Japan later this year, and the US by the end of next year, the company's CEO Hwang Hee said at the JPMorgan Healthcare Conference Tuesday. PASTA, developed in collaboration with global companies Dexcom, Novo Nordisk and iSense, is a blood sugar management service utilizing a continuous glucose monit
Jan. 11, 2024
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[CES 2024] Doosan chief highlights business synergy with AI
Doosan Group Chairman Park Jeong-won underscored the importance of applying artificial intelligence technology to other business areas as he toured CES 2024 in Las Vegas on Wednesday. “We are closely looking at how far the advancement of AI has come and how it could change the traditional manufacturing industry,” said Park. “We will look for the ties between AI technology and our business and seek business opportunities.” The Doosan chief along with the group’s mana
Jan. 11, 2024
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[JPM 2024] Yuhan Corp. to launch two novel therapies in three years
SAN FRANCISCO -- Yuhan Corp. plans to bring at least two novel drugs, which may include an oncology treatment, to the global market by 2026, with an ambitious vision to become one of the world's top 50 pharmaceutical companies, it said at the J.P. Morgan Healthcare Conference' Asia-Pacific track presentation session Tuesday. "Yuhan covers multiple fields in the realm of biopharmaceuticals, from discovering, manufacturing, to sales and marketing, and currently possess 29 innovative
Jan. 11, 2024
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Creditors of troubled builder Taeyoung set to decide on debt restructuring
Creditors of debt-ridden Taeyoung Engineering & Construction Co. were set to make a decision Thursday on whether to allow the ailing builder to move forward with a debt restructuring program. Taeyoung, the 16th-largest builder in South Korea in terms of construction capacity, applied for a debt restructuring program late last month due to a liquidity shortage over real estate project financing loans. The state-run Korea Development Bank, the builder's main creditor, will receive documen
Jan. 11, 2024
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Samsung family members to sell 2.8tr won worth of shares in Samsung units in block deal
Family members of Samsung Group plan to sell nearly 2.8 trillion won ($2.12 billion) worth of their shares in Samsung Electronics and other affiliates in a block deal in an apparent bid to pay inheritance taxes, industry sources said Wednesday. Hong Ra-hee, the mother of Samsung Electronics Co. Chairman Lee Jae-yong, and her two daughters -- Hotel Shilla Co. CEO Lee Boo-jin and Lee Seo-hyun, chief of the Samsung Welfare Foundation -- are pushing to unload a combined 29.8 million shares worth 2
Jan. 10, 2024
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[CES 2024] HD Hyundai outlines autonomous construction site
South Korean shipbuilding and heavy industries conglomerate HD Hyundai is presenting the blueprint of future construction sites utilizing unstaffed autonomous technologies at CES 2024 in Las Vegas this week. According to HD Hyundai, this year’s exhibition has been set up under the core theme of “Xite Transformation,” a land innovation vision to solve the problems humanity is facing, such as security, supply chains and climate change. HD Hyundai divided its exhibition area into
Jan. 10, 2024
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Kakao Pay sees foreigner usage surge in 2023
Kakao Pay, the online payment service of Korean tech giant Kakao Corp., saw exponential growth in its usage by foreign nationals last year, with the volume of monthly transactions by foreigners jumping by 14 times on-year in January. According to the firm on Wednesday, numbers for transactions and monthly foreign users also increased by eight times each over the same period. The company declined to provide further details on the exact figures. The firm has partnered with 12 online payment platfo
Jan. 10, 2024
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[CES 2024] AI success hinges on steady, strategic investments: Chey
LAS VEGAS/SEOUL -- The era of artificial intelligence is opening, and its success will depend on how the market is created to measure up to high expectations and investment, SK Group Chairman Chey Tae-won said, taking part in the CES 2024 technology show in Las Vegas on Tuesday. After touring the showrooms of Samsung Electronics and LG Electronics on the opening day of the world's largest tech show, Chey pointed to transparent TV screens as novel items that may open an entirely new product
Jan. 10, 2024
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[JPM 2024] Samsung Biologics seeks ‘unrivaled’ CDMO leadership
SAN FRANCISCO – Samsung Biologics, the biotech arm of Samsung Group, is seeking to further consolidate its leadership in the soaring contract manufacturing and development market by outpacing rivals in terms of production capacity. "I am aware of the market's post-pandemic oversupply concerns. However, considering the continual rise in our orders, the choice to expand production capacity is deemed essential to promptly address the strong demands of our clients,” CEO John Ri
Jan. 10, 2024
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[Herald Interview] Lotte Biologics' US plant to begin ADC services in early 2025
SAN FRANCISCO -- Lotte Biologics will begin production of its antibody-drug conjugates at its US plant by the first quarter of 2025, according to its CEO Richard Lee, who spoke at a meeting with reporters on Monday, held on the sidelines of the J.P. Morgan Healthcare Conference. As ADCs have emerged as a promising class of treatments, the Korean contract drug manufacturer has received a myriad of requests from potential clients to offer a full line of ADC services at its production site in Syrac
Jan. 10, 2024
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[Photo News] Coming soon
A teaser video for Samsung Electronics’ Unpacked event touting its flagship Galaxy lineup is screened on the Sphere, a new landmark in Las Vegas, Tuesday. The tech giant is scheduled to unveil its Galaxy S24 smartphones with enhanced artificial intelligence features next week in San Jose, California. (Samsung Electronics)
Jan. 10, 2024
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[Photo News] OLED tunnel
Visitors pass through tunnel-like display screens at LG Electronics’ exhibition booth during the CES tech show in Las Vegas on Tuesday. Some 140 OLED screens are used to feature diverse video content running on the tech giant’s smart TV platform, webOS. (LG Electronics)
Jan. 10, 2024
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[JPM 2024] SK Biopharmaceuticals to make big bet on new R&D platforms
SAN FRANCISCO -- SK Biopharmaceuticals will make aggressive investments into new drug discovery platforms to replicate the firm's success of its epilepsy treatment Xcopri, it said at the JPMorgan Healthcare Conference' Asia-Pacific track presentation session on Tuesday. "SK Biopharmaceuticals is the first and the sole Korean company to directly sell novel drugs in the US," SK Biopharmaceuticals CEO Lee Dong-hoon said while unveiling the firm's long-term growth strategy a
Jan. 10, 2024