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[Newsmaker] Ruling in ex-governor's rape case fuels #MeToo fire in South Ko...
Alipay launches mobile tax refund service for tourists to Korea
Fitness model’s ‘morale boost’ for military stokes fury
Korea grabs 2 shooting silver medals
Performance recast into painting: Ma Liuming holds solo exhibition in Seoul
Chilgok honors children of US Army vet with honorary citizenship
Weaker dollar eases S. Korea market woes
SKT expands utilization of machine learning to genomic analysis
Worsening employment, corporate profitability cast shade over economy
[Photo News] War-separated families meet in rare, emotional reunion

Today Industry

Canada approves Daewoong Pharmaceutical’s BTX Nabota

South Korea’s Daewoong Pharmaceutical said Monday that Health Canada had granted marketing approval for its type A botulinum toxin drug Nabota, clearing the way for the product’s launch in North America.　Nabota has been approved by the Canadian drug regulator for the treatment of wrinkles in the forehead, according to the drugmaker. It is the first of Daewoong’s self-developed drugs to be approved for sales in a major global pharmaceutical market. The regulatory clearance comes three months afte

FTC vows not to meddle in careers of former staff

Private meetings between incumbents and retirees to be prohibited

Today
Industry
Hyundai Department Store, Amazon join hands for 'next-generation' store

Hyundai Department Store Group said Monday it has joined hands with Amazon to develop the "next-generation" retail model amid local retailers' push to adopt the latest technology to their online and offline platforms. Under the strategic collaboration agreement with Amazon Web Service Korea signed on Friday, Hyundai said it will also establish a system to analyze customer activity and expand the partnership between its information technology arm and AWS, the US retail giant's cloud computing pl

Today
Industry
Biz sector 'gapjil' survey getting low response

Responses to yearly surveys on unfair business practices have become lukewarm, especially from franchisees and subcontractors who were expected to use the poll to report mistreatments, according to the National Assembly Budget Office on Monday.The Fair Trade Commission conducts a poll every year on both parties of business contracts, the franchisers and franchisees, as well as companies and their suppliers. The purpose is to provide a way for the parties, especially the weaker partners, to repor

Today
Industry
China beats America as biggest market for Samsung

China accounted for more than 30 percent of Samsung Electronics Co.'s overall sales over the January-June period, industry data showed Monday, emerging as the company's largest market and outpacing the American continents for the first time.The South Korean tech giant, which posted sales of 83.9 trillion won ($74.6 billion) over the first six months of 2018, raked in 27.4 trillion won or 32.7 percent from China, the corporate data showed. It marked a sharp rise from 18.5 percent tallied in 2013.

Today
Industry
BMW to begin massive recall Monday after engine fires

BMW's South Korean unit is set to launch a recall of 106,317 cars Monday after a recent series of engine fires.The carmaker said last month it will recall 42 different models after making emergency safety checks on all models with an exhaust gas recirculation component, which the company blamed for the recent fires.The company is putting efforts into securing the parts from its German headquarters, with a plan to complete the recall this year, according to industry sources. (Yonhap)On Wednesday

Aug 19, 2018
Industry
Foldable patent applications on rise in Korea

South Korean tech giants are competitively filing patents related to foldable panels in a move to make a breakthrough in the smartphone industry slowed down by limits of hardware innovation.Over the last six years, a total of 276 patents related to foldable panels were applied for in Korea, with 210 patents filed in the last three years, according to the Korean Intellectual Property Office on Sunday. LG Display has applied for the highest number of patents (94), followed by its rival Samsung Dis

Today
Industry
Nuclear reactor shuts down for maintenance

The operator of South Korea's nuclear power plants said Saturday that it has stopped operation of a nuclear reactor in the country's southwestern nuclear complex for scheduled maintenance Hanbit 1 (KHMP)The 950-megawatt "Hanbit 1" reactor stopped operating at 10:03 a.m. for routine inspections, the Korea Hydro and Nuclear Power Co. said.The reactor is located in Yeonggwang, about 350 kilometers southwest of Seoul. Three other reactors in Yeonggwang are also undergoing maintenance. (Yonhap)

Aug 18, 2018
Industry
Samsung Securities cancels bid for promissory notes business

Samsung Securities Co. said Friday it voluntarily withdrew its application for the right to issue promissory notes following state penalties over its recent fat-finger chaos.The local brokerage firm has sought state approval since July last year for a license for the issuance of promissory notes in a bid to expand its business scope by taking on a role as an investment bank. Samsung Securities (Yonhap)In a regulatory filing, Samsung announced the decision of its revocation, which was made "in co

Aug 17, 2018
Industry
Korea, US agree to cooperate on nuclear reactor exports

Representatives of South Korea and the United States agreed to seek nuclear reactor exports at high level bilateral talks in Washington on Thursday, the Foreign Ministry said Friday.At the second meeting of the High Level Bilateral Commission, the two sides agreed to check the progress of a joint survey on the world’s nuclear reactor market and seek ways to export nuclear reactors to a third country. (Herald DB)Led by Vice Foreign Minister Cho Hyun and US Deputy Secretary of Energy Dan Brouillet

Aug 18, 2018
Industry
Asiana to cut back on flights to prevent delays

South Korean airliner Asiana Airlines said Friday that it would reduce the number of flights destined for certain European and US cities beginning in October, in response to instructions from the Transport Ministry to address the problem of delayed flights. The country’s No. 2 full-service carrier said it would operate only 75 flights per week to six cities in the US and six cities in Europe as of October. The current number of flights to each city is 82. The Ministry of Land, Infrastructure and

Aug 18, 2018
Industry
Korea Gas Corp. to invest W10tr in natural gas, hydrogen

Korea Gas Corp. will invest 10 trillion won ($8.8 billion) by 2025 in pursuit of new growth engines. The public natural gas company said it plans to invest 10 trillion won by 2025, with 6 trillion won set aside for local businesses, 3 trillion won for overseas projects and the remaining 1 trillion won for new business areas. The plan will create 70,000 new jobs for domestic businesses and 20,000 jobs for infrastructure businesses overseas, the company’s officials said.Korea Gas Corp. said it pla

Aug 18, 2018
Industry
Samsung Heavy wins $370 million deal for 2 LNG carriers

Samsung Heavy Industries Co., a major South Korean shipbuilder, said Friday that it has clinched a deal worth about $370 million to build two liquefied natural gas carriers for a European shipping company.Samsung Heavy said it is set to deliver the carriers, which can hold 180,000 cubic meters of LNG each, to Celsius Tankers by December 2020. This file photo provided by Samsung Heavy Industries Co. shows its liquefied natural gas carrier. (Yonhap)Samsung Heavy said it has received $3.3 billion

Aug 17, 2018
Industry
Jin Air to retain business license

South Korea’s Ministry of Land, Infrastructure and Transport said Friday that it had decided not to revoke the business license of Korean Air’s budget affiliate, Jin Air. The budget carrier came under fire in April for having a US citizen, Cho Hyun-min, on its board of directors. For security reasons, foreign nationals cannot serve as board members at Korean airlines under the nation’s aviation law. In April, it was revealed that Cho, the younger daughter of Korean Air Chairman Cho Yang-ho, had

Aug 17, 2018
Industry
KEPCO signs $37.8 mln project in Dominican Republic

The state-run Korea Electric Corp. (KEPCO) said Friday it has won a $37.8 million project to replace or build new power distribution facilities in the Dominican Republic.KEPCO received an engineering, procurement and construction (EPC) order to improve power management systems, including telegraph poles, electric wire, transformers and power meters, in the southern and eastern areas of the Caribbean nation for the next two years. Kim Jong-gap, CEO of the state-run Korea Electric Power Corp., att

Aug 17, 2018
Industry

The Korea Herald by Herald Corporation

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Publisher. Editor : Kwon Chung-won
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