Most Popular
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Ador CEO denies allegations, accuses Hybe of mistreating NewJeans
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Medical reform committee kicks off despite boycott from doctors
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10-man S. Korea lose to Indonesia to miss out on Paris Olympic football qualification
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Hybe-Ador feud should have limited effect on Hybe's overall performance: analysts
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Second Gimpo civil servant found dead, after apologizing for not finishing work
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DP leader says he will meet Yoon without conditions
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Over 9,000 hotline calls made by stalking victims in 2023
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Monthly users on local streaming platforms outpace Netflix, Disney+
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[Hello India] Hyundai Motor vows to boost 'clean mobility' in India
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Seoul to promote luxurious side of the city
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Samsung, LG post record Q1 earnings
Strong sales of home appliances pushed South Korean electronics firms’ sales to a new quarterly high. According to first-quarter earnings results released by Samsung Electronics and LG Electronics on Thursday, the tech titans both achieved their highest-ever quarterly sales and operating profits in the first three months of 2021. Samsung posted record-high sales of 65.39 trillion won ($59 billion) in the first quarter, driven by its mobile device and home appliances businesses, despit
April 29, 2021
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Samsung family says no disagreement over estate
The bereaved family of Samsung Group Chairman Lee Kun-hee is not at odds over who should get what from the late tycoon’s Samsung company shares, worth 19 trillion won ($17.06 billion) in total, officials at Samsung Electronics, the flagship unit of the conglomerate, said Wednesday. The late Lee’s equity holdings have immense implications for the group’s ownership structure, influencing the Lee family’s continued grip over the colossal corporate empire, which alone acco
April 28, 2021
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SK Broadband present new family plan in time for May, the ‘Family Month’
In time for Parents’ Day on May 8, SK Broadband is presenting a new family plan targeting adults living separately from their aging parents and looking out for them in this coronavirus pandemic. The plan, called “B tv Family,” is a package of services tailored for senior citizens who cannot go out as often as they used to and cannot meet up with their grandchildren and other loved ones. On top of the typical combination of high-speed internet, home Wi-Fi, IPTV and a TV set
April 28, 2021
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COVID-19 self-test kits to be available at pharmacies as early as Monday
South Koreans may be able to purchase COVID-19 self-test kits as early as next Monday, industry officials said Wednesday. Coming are two types of home test kits developed by local biotech firms SD Biosensor and Humasis. The test kits will be available at local pharmacies or via online channels, according to the companies. The rollout comes after the Ministry of Food and Drug Safety last week gave each of them conditional-use approval. The products have been in use in several countries in Eu
April 28, 2021
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Genexine signs vaccine supply deal with Indonesia
Local vaccine developer Genexine has signed a contract with an Indonesian pharmaceutical company to supply 10 million doses of its COVID-19 vaccine candidate, the company said Tuesday. According to the firm, Indonesian pharmaceutical company PT Kalbe Farma will purchase 10 million doses of GX-19N, the vaccine candidate currently in the phase 2 clinical trial stage. Genexine will be provided with royalties based on sales of the vaccine, it added. Sale of the jabs would be possible only after
April 27, 2021
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Hyundai Oilbank to transform oil refineries into renewable energy platforms
Hyundai Oilbank said Tuesday that it has partnered with Honeywell UOP, one of the world’s leading technology licensing firms, to repurpose its oil refineries as renewable energy platforms where vital ingredients for solar panels and electric vehicle batteries will be produced. Under the agreement, Honeywell’s crude oil-to-chemical technology will allow Hyundai Oilbank facilities to convert crude oil into high-value chemical products instead of traditional transportation fuels. Th
April 27, 2021
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Eyes on Lee Jae-yong’s share in inheritance of Samsung Life
As an official announcement on the biggest wealth inheritance in modern Korean history draws near, all eyes are on how much of the late Samsung Group Chairman Lee Kun-hee’s assets would be given to his eldest son Lee Jae-yong, who has in effect already inherited the control of the mammoth business conglomerate. According to industry sources on Tuesday, the bereaved family of the late tycoon is anticipated to announce this week, before an April 30 deadline, a final inheritance plan, incl
April 27, 2021
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KIST applies chip technology to prevent fires from lithium-metal batteries
The Korea Institute of Science and Technology on Tuesday claimed to have found a new way of curbing lithium-metal battery fires using semiconductor technology. According to its researchers led by Lee Joong-kee, lithium-metal batteries, which use metals for anodes, or the negative side, are more powerful than lithium-ion batteries that use graphite for anodes. However, there is a trade-off. Lithium-metal batteries are more susceptible to fires because of dendrite issues. Dendrites are tiny, r
April 27, 2021
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Local company develops smart livestock management solution for pigs
South Korean livestock health management firm uLikeKorea announced the launch of an information and communication technology-based solution to detect symptoms of swine diseases, including African swine fever. Kim Hee-jin, CEO of uLikeKorea, claimed it is the world’s first and only such solution developed for pig farming. According to the firm’s press release, it uses a device that is inserted in a pig’s uterus to keep track of its activities, hormone levels and body temper
April 26, 2021
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Samsung's new QLED TV sales top 10,000 units in S. Korea
Samsung Electronics Co. said Monday sales of 2021 QLED TV models have topped 10,000 units in South Korea less than two months since its release as the company expects more premium TV sales amid the pandemic-induced stay-at-home trend. The world's largest TV maker said new QLED TVs, launched on March 3 here, achieved the milestone twice as fast as its predecessors last year. The domestic sales of total QLED TVs stood at around 40,000 units between March 3 and April 23, according to the company.
April 26, 2021
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Samsung to launch new budget smartphone in S. Korea this week
Samsung Electronics Co. said Monday its Galaxy M12 budget smartphone will be sold in South Korea this week as the tech giant eyes to expand mobile sales here by introducing more price-competitive models. The M12 will hit local shelves Wednesday through online sales channels at 198,000 won ($180), the company said. The M12 has been already released in select markets including Vietnam, India and Britain. The smartphone with a 6.5-inch screen comes with a quad-rear camera setup, featuring a 48-m
April 26, 2021
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LG to launch new 27-inch gaming monitor in S. Korea
LG Electronics Inc. on Monday said its new 27-inch gaming monitor will be launched in South Korea next month as the company eyes to expand sales of IT products amid the pandemic-driven stay-at-home trend. LG's new 27-inch UltraGear 4K monitor, named the 27GP950, will hit the local shelves next Monday with a price tag of 1.09 million won ($980). The new monitor, which was featured in the all-digital Consumer Electronics Show (CES) 2021 in January, is already sold in select markets in North Amer
April 26, 2021
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[#WeFACE] LG Innotek aims to be No. 1 ESG company in electronic components industry
The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed. Since even before the environmental, social and corporate governance trend caught on in corporate Korea, LG Innotek has been making quiet efforts for years for the betterm
April 25, 2021
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Samsung Bioepis’ Q1 biosimilar sales in Europe hit $205m
Sales of biosimilars developed by Samsung Bioepis in Europe reached $205.1 million in the first quarter this year, the South Korean drugmaker said Friday. Sales of Samsung Bioepis’ three major autoimmune biosimilars -- Benepali, Flixabi and Imraldi -- increased 3.9 percent on-quarter but decreased 6.3 percent on-year, the company said, citing an earnings report of its US partner Biogen released Thursday, local time. Samsung Bioepis is a joint venture between Biogen and Samsung Group&rs
April 23, 2021
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Samsung’s Lee denies charges in first court hearing on succession
Samsung Electronics chief Lee Jae-yong on Thursday denied all charges leveled against him during his first trial hearing on alleged irregularities surrounding his ascension to the helm of Samsung Group. Attending the session held at the Seoul Central District Court, Lee pleaded not guilty when he was asked by the presiding judge to respond to the charges brought against him by prosecutors which include stock market manipulation, illicit trading and breach of trust. “I cannot admit (to
April 22, 2021
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S. Korea looks to Russia’s Sputnik V amid vaccine shortage
Faced with a COVID-19 vaccine shortage, South Korea is taking the first steps to consider Russia’s Sputnik V. The Ministry of Food and Drug Safety said Thursday that it would collect clinical data on the Russian vaccine to study its efficacy and safety. The ministry has requested the help of the Foreign Ministry and its overseas missions for the collection of data from 12 countries where the vaccine has been rolled out, officials said. A Drug Ministry official, however, attempted to d
April 22, 2021
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[Exclusive] SK Telecom plans M&A, foray into nonmemory chip market: CEO
SK Telecom, South Korea’s No. 1 mobile carrier, aims to grow into a global key player in nonmemory chip design and is on the lookout for acquisition targets, its chief executive officer said Wednesday. Speaking exclusively to The Korea Herald, SKT CEO Park Jung-ho said, “SK Telecom will take the lead in development of nonmemory chips, helping SK hynix (expand into the overall semiconductor market).” The SKT chief doubles as vice chairman of SK hynix, the world’s third
April 21, 2021
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S. Korea to invest W105b in promising digital New Deal companies
South Korea said Wednesday it will invest 105 billion won ($94 million) this year to support budding companies in promising tech sectors, such as 5G networks and artificial intelligence, as part of the country's digital New Deal initiative. Last year, South Korea unveiled the digital New Deal program, which aims to invest 58.2 trillion won to develop key future technologies from smart factories to big data solutions and create 900,000 jobs by 2025. The Ministry of Science and ICT said it signe
April 21, 2021
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‘Time for Korea to consider telehealth’
The Federation of Korean Industries said Tuesday that South Korea needs to consider reviewing related regulations to open up the gates for local practice of telemedicine-medical diagnosis. FKI Vice Chairman Kwon Tae-shin said now is the time to take deregulatory actions, given the public’s positive perception of telemedicine, formed after experiencing the COVID-19 pandemic. He made the remarks during a seminar held to share information and opinions on telemedicine trends in Seoul, Tue
April 20, 2021
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Samsung’s Lee family to announce inheritance tax plan next week
The bereaved family of Samsung Group Chairman Lee Kun-hee will make public its plans for the late tycoon’s massive personal wealth, estimated to be worth over 30 trillion won ($26.98 billion), industry sources said Tuesday. The plan will include donations of art from the chairman’s collection and the allocation of his stocks to family members, including Lee Jae-yong, his son and successor in the Samsung empire. It will also detail how the family plans to pay the inheritance taxes.
April 20, 2021