Officials of Samsung BioLogics Co. are heaving a sigh of relief as a South Korean court has approved its request for an injunction to put on hold the execution of penalties imposed by the financial watchdog for its alleged accounting fraud. Now they are shifting their focus to the administrative law
The destination of Samsung Electronics vice chairman Lee Jae-yong’s first business trip for this year seems to be Xian in China. As Samsung Electronics recorded an earnings shock in the fourth quarter of last year, there is growing concern over the slowdown of the semiconductor market. Accordingly,
South Korean semiconductor equipment and material suppliers have not benefited much from the recent global semiconductor industry boom. Yet they are taking a direct hit from the ongoing decline in memory chip demand.Samsung Electronics and SK Hynix accounted for 74.6 percent and 46.4 percent of the
Nongshim is set to accelerate its sales growth in the U.S. ramen market valued at US$1.2 billion a year as it has cleared a big hurdle.The Korean instant noodle maker recently won a U.S. class action lawsuit filed by U.S. wholesalers and retailers against it for fixing ramen prices in 2013.In 2015,
Blockchain companies are entering the payment market, applying cryptocurrencies to so-called simple payment systems that allow people to pay without credit cards or cash.A recent report from Chain Partners, a Korean cryptographic investment company, notes that the Japanese government is expected to
Hyundai Motor Group has developed the world’s first airbag that can protect drivers from multiple collisions.The company announced on Jan. 21 that it has developed an airbag system that can protect drivers from additional collisions that follow the first collision. This new airbag system complements
Samsung Electronics spent US$3.12 million on lobbying in the United States last year. The company spent the money to respond to the Donald Trump administration’s protectionist trade policies and increase its presence in the local 5G telecom equipment market. 5G is one of the four future growth drive
Hanjin Group chairman Cho Yang-ho is facing a strong challenge from Korea Corporate Governance Improvement Ltd. (KCGI), a local activist fund which is the second largest shareholder of Hanjin KAL Corp., the holding entity of Hanjin Group, and Hanjin Transportation Co.KCGI is drumming up support for
Key bills related to biotech industry globalization remain pending in the National Assembly. Experts point out there should be no more procrastination.The bills include those on advanced biopharmaceuticals and in vitro diagnostic devices. The National Assembly failed to pass the bills last year. Thi
A team of Korean researchers has developed a powerful anti-biofilm material that has, like seeweeds, needle-like projections, a fine microscopic surface and a smooth film.The Ulsan National Institute of Science and Technology (UNIST) announced on Jan. 20 that a research team led by professor Jeong H
Hyundai Motor has begun to sell cars through internet broadcasting in the United States.Hyundai Motor said on Jan. 20 that its U.S. sales subsidiary Hyudani Motor America (HMA) began selling its products through “Hyundai Showroom Live” on Jan. 15 (local time). This is a program where car experts int
Samsung Electronics' share of the world TV market in terms of sales volume is estimated to have fallen below 20 percent in 2018 for the first time in seven years.One reason for the decline in Samsung’s market share is its focus on the premium TV market away from the low-priced TV market led main
These days, China is narrowing its gap with South Korea at a rapid pace in the manufacturing sector by maintaining low labor costs and making huge R&D investments. Analysts say China is already ahead of South Korea when it comes to future technologies such as big data, autonomous driving and artific
Hyundai Heavy Industries Co. is suffering from an internal problem, although it is swamped with new order inquiries from its clients from the beginning of the year. The company exceeded its goal for new orders last year and there is a rosy outlook that the number of new shipbuilding orders across th
South Korean manufacturers are increasing their overseas production amid the ongoing trade war between the United States and China. The companies, which are highly dependent on exports, are trying to avoid trade protectionism by doing so.According to the Bank of Korea, South Korea’s net exports base
Security token offerings (STOs) have become the talk of the town in the cryptocurrency industry, following initial coin offerings (ICOs) which attract investment by issuing cryptocurrencies.Issuing a security token means converting assets into a form of cryptocurrencies offer them to invetors. These
The Korea Customs Service (KCS) has launched an investigation into Heineken Korea Co. for alleged manipulation of beer import prices, according to a report by the Maeil Business Newspaper on Jan. 17.The report says Heineken Korea is expected to face a fine of more than 10 billion won (US$8.90 millio
Korea Securities Finance Corp. (KSFC) CEO Chung Wan-kyu has pledged to improve retail investors’ access to short selling.“We have decided to increase the number and amount of stock loans available to retail investors for short selling,” Chung said during a New Year's press conference held in Yeo
Korean scientists have developed a new technology that enhances seawater desalination performance four times higher than the conventional method.The new technology is dubbed “carbon-nanotube-based high-efficiency capacitive water desalination technology.” It was developed by a joint research team le
A team of researchers at the Ulsan National Institute of Science and Technology (UNIST) has developed a technology to effectively fabricate a graphene quantum dot, which is an ultra-fine semiconductor particle.Professor Shin Hyun-seok of the Department of Natural Science at UNIST said on Jan. 16 tha