SK Telecom has entered into collaboration with domestic and foreign companies, including Harman International Industries, to take the lead in 5G-based autonomous drive vehicle market.SK Telecom signed business agreements and memorandums of understanding (MOUs) with domestic and overseas mobility com
KT Corp. has developed a cloud-based blockchain as a service (BaaS) platform in order to provide an environment where Korean companies can easily develop blockchain services. The company plans to apply the KT BaaS platform to in-house services first.The KT BaaS platform allows a user to automaticall
Employees working for small and medium-sized enterprises (SMEs) in South Korea were paid, on average, 68.6 percent of the wages of their counterparts in large firms in 2017, a report showed on Jan. 10. Their disparity showed a slight improvement compared to a year earlier but there was still the pol
South Korean securities companies are expanding their presence in Vietnam, an emerging market with high growth potential. Vietnam is the only Southeast Asian country where the Big Five of South Korea’s 10 major securities firms run business.Most recently, KB Securities Co. has increased the number o
Global Companies in different business sectors are forging alliances to get a piece of the action in the future car market.LG Electronics announced on Jan. 9 that it signed an agreement with Microsoft to jointly develop software for artificial intelligence (AI)-based autonomous navigation software i
LG Electronics announced on Jan. 7 that it will unveil the world’s first rollable OLED TV at CES 2019, the world's largest information technology (IT) exhibition, which opens in Las Vegas on Jan. 8 (local time).The company said the “LG Signature OLED TV R” is the world's first flexible TV fe
Handok Inc. and Genexine announced on Jan. 8 that they have become the largest shareholder of Rezolute Inc., a U.S. biotech company, by jointly acquiring a 54 percent stake for US$25 million.This investment is part of open innovation being pursued by the two Korean companies. Through this joint inve
SK Innovation is reportedly reconsidering acquiring a stake in Australian Mines (AM) which produces electric vehicle battery materials as global cobalt prices have sharply dropped.Petrochemical industry watchers say that SK Innovation is unlikely to exercise its option to purchase 19.9 percent of
Korean petrochemical companies have competitively made a large investment in new ethylene production facilities in the past few years. As these new plants will start commercial production in from this year, concern is growing that there could be a supply glut. However, some analysts say that the com
Hanjin Heavy Industries & Construction Co., a midsized shipyard in South Korea, announced on Jan. 8 that its affiliate in Subic of the Philippines has filed for a rehabilitation program with a Philippine court due to a prolonged business slump.The Philippine court will decide within 120 days whether
Daewoong Pharmaceutical announced on Jan. 7 that it has filed a request with the China Food and Drug Administration (CFDA) to change the manufacturing facility specified in the clinical trial application (CTA) for its botulinum toxin Nabota. Daewoong intends to change the production site of Nabota f
LS Cable announced on Jan. 7 that it would supply submarine cables to Taiwan, becoming the first Korean cable producer to advance into the Taiwanese market.LS Cable signed a contract with WPD, a leading wind power company of Germany, to supply 170 km of 66 kV submarine cable to an offshore wind farm
The South Korean gaming industry faces deepening challenges. Chinese games have already outpaced South Korean games in terms of technical skill and quality. To top it off, the owner of nation’s largest gaming company Nexon Co. has put his entire stake for sale.Gaming industry sources said on Jan. 6
Samsung Electronics is stepping up efforts to strengthen its non-memory semiconductor business. The company is seeking to strengthen the profit structure of the non-memory business by raising its competitiveness to the level of its world-leading semiconductor business.The Korean tech giant is accele
Korean patients with cancer and dementia will soon be allowed to have genetic tests without going to hospitals by using direct-to-consumer (DTC) devices, which test using their saliva.DTC usually refers to the marketing of pharmaceutical products but also applies to the direct marketing of medical d
The main keywords in the New Year messages of the chairmen and CEOs of major Korean business groups were “customers,” “growth” and “global.” Last year, “survival,” “competition” and “change” were the keywords, reflecting increased uncertainties in the business environment. Analysts say that this yea
About 4,500 companies from 155 countries across the world will gather at CES 2019, the world's largest consumer technology event to take place for four days from Jan. 8 in Las Vegas of the United States, to showcase new technologies that will shape our daily life in the future.Smart home, smart
The founder of South Korea’s largest gaming company Nexon Co. has put his entire stake in NXC Corp., the group’s holding company, up for sale.Gaming and investment banking (IB) industry sources said on Jan. 3 that NXC CEO Kim Jung-ju has offered to sell off NXC shares owned by him and his affiliated
The South Korean government will benchmark the United States and introduce an approval system for foreign companies’ attempts to acquire Korean companies to prevent technology leaks. It will also increase the penalties for those who leak core national technologies, including fines of up to three tim
As institutional investors sold more than 400 billion won (US$356.35 million) worth of local shares on the first trading day of the new year, there is growing concern that the benchmark KOSPI can fall below the 2,000 level again.Analysts say investors are chilled by the global economic slowdown stem