Incheon International Airport Corp. (IIAC) announced on April 3 that non-stop flights from Incheon International Airport to the Minneapolis-Saint Paul International Airport and Boston Logan International Airport are available from April 2 and 12, respectively.The former is provided everyday by Delta
South Korea and Saudi Arabia are planning to strengthen their cooperation in the fields of automobile, health insurance system improvement, information and communications technology, smart city construction and airport construction.The Ministry of Trade, Industry and Energy of South Korea announced
The number of Samsung Electronics employees in South Korea has exceeded 100,000, with its Device Solutions (DS) Division accounting for more than half. The division had increased its pool of engineers during the semiconductor boom that continued until last year.The Financial Supervisory Service anno
Korean pharmaceutical companies have started targeting the global health market with domestically developed vaccines. They are latecomers but have been making big achievements, including developing a shingles vaccine for the second time in the world. They are active in exporting their products to de
5G telecommunication commercialization could provide a turning point for the Korean semiconductor industry, which has entered a downturn, a Korean research institute said.The Institute for International Trade (IIT) predicted that Korean chipmakers would greatly benefit from a rise in demand for memo
The amount of cash dividends paid by the top 10 business groups in South Korea surpassed 20 trillion won (US$17.62 billion) last year, hitting a record high. These groups strengthened their shareholder return policy in response to the introduction of a stewardship code by institutional investors and
CJ CheilJedang Corp. aims to achieve 3 trillion won in sales this year in the bio business. The bio industry has emerged as the company's main business of CJ as it accomplished sales of 2.27 trillion won last year. The company plans to invest more than 80 billion won, the highest amount in the b
The Korean business community is in shock as Hanjin Group chairman Cho Yang-ho lost his managerial control of Korean Air Lines Co. by failing to secure support for his reappointment as an inside director at a general shareholders’ meeting on March 27.Business leaders are surprised as their worst fea
The Korean government plans to invest 600 billion won (US$528.63 million) for seven years in the development of technologies that have a low chance of success but high potential, such as ultra-light weight metal materials and nano-robots that find cancer cells.The Ministry of Trade, Industry and Ene
Samsung BioLogics announced on March 20 that it has concluded a contract development organization (CDO) contract with Eutilex, a Korean biotech company, to develop cancer immunotherapies.The two companies expect to accelerate the development of new drugs through synergy between Samsung BioLogics'
Korea Health Industry Development Institute (KHIDI) and Chungcheongbuk-do (south Chungcheong Province) announced that they will hold the 14th Bio Korea 2019 in COEX, Seoul from April 17 to 19.It is Asia’s largest biotechnology convention, where pharmaceutical and biotechnology companies, hospitals,
Amway, which celebrates its 60th anniversary this year, will take a bigger step forward for the next 60 years by reinforcing communications. Amway Korea, which will mark its 30th anniversary in 2021, plans to focus on upgraded incentive programs for Amway Business Owner (ABO) business partners and p
The Korea Corporate Governance Service (KCGS), which provides advice regarding voting rights for the National Pension Service (NPS), took Hyundai Motor Group’s side, saying that Elliott Management Corp.’s outside director appointment-related proposal and excessive demand for dividends could hamper t
Hyundai Motor Group is striking back at U.S.-based activist fund Elliott Management Corp. which has been pressuring the Korean automotive group to change its governance structure and shareholder return policy.Market watchers say Hyundai Motor has a greater chance of winning a proxy contest with Elli
North Gyeongsang Province is one of the most dynamic regions in South Korea. The province’s gross regional domestic product (GRDP) recorded 103 trillion won (US$91.2 billion) in 2017, the fifth largest among local governments in Korea. The province has a strong industrial base, especially in the IT,
Hyundai Mobis Co. officially announced on March 7 that it opposes U.S. activist hedge fund Elliott Management Corp.’s shareholder proposals concerning dividends, nomination of independent directors and audit committee members, and increasing the number of board members.In regard to the demand for di
Under pressure from U.S. activist hedge fund Elliott Management, Hyundai Motor Group is expected to propose a stronger shareholder friendly policy and announce its new governance reform plan.The group scrapped its governance reform scheme last year due to opposition from institutional shareholders,
The amount of cash dividends paid by the top five business groups in South Korea surged by more than 10 trillion won (US$8.94 billion) over the last five years. As the era of shareholder activism has dawned on the country, the size of dividend payouts is expected to grow steadily.The total amount of
Hyundai Motor Co. will invest more than 45 trillion won (US$40.21 billion) in research and development (R&D) on new cars and future mobility technologies over the next five years. The group is also planning to raise its operating margin from the current 2 percent range to 7 percent by improving its
The proposed regulatory reform in the Korean biotech sector is going nowhere due to hardline policy of related ministries, parliamentary inaction and opposition from civic groups. In particular, the Ministry of Health and Welfare maintains a tough certification standard with regard to direct to cust