LG Electronics announced on Sept. 25 that it has filed lawsuits with a German court against three European consumer electronics companies for infringing its refrigerator patents.The three companies that LG Electronics took to court are Arcelik, Beko and Grundig, which are all affiliated with the Tur

The large gap between QLED TVs and OLED TVs in terms of sales is expected to further widen this year.QLED TVs and OLED TVs are currently leading the global premium TV market. Samsung Electronics is the most representative producer of QLED TVs, while LG Electronics is the standard-bearer of the OLED

The new head of South Korea's antitrust watchdog is zeroing in on Apple, which is alleged to have abused its market power against Korean telecom carriers.Fair Trade Commission (FTC) Chairwoman Cho Sung-wook, who assumed office recently, held her first commissioners' meeting on Sept. 25.The m

Federation of Korean Industries (FKI) Chairman Huh Chang-soo delivered an opening speech at the 8th Korea-China CEO Roundtable held in Seoul on Sep. 25.“At present, China accounts for 16 percent of the total GDP of the world, is the second-largest country in the world in terms of R&D investment, and

The Korea-Japan Economic Association and the Japan-Korea Economic Association finished their 51st conference and released a joint statement in Seoul on Sept. 24. The meeting was attended by 203 South Korean and 106 Japanese entrepreneurs.“We express serious concerns over the fact that the reciprocal

Hanmi Pharmaceutical Co. plans to present additional data from a global phase 3 clinical trial for Oraxol, an oral anticancer drug. The company’s move raises expectations for commercialization as it has recently disclosed encouraging results from the phase 3 clinical trial.Hanmi Pharmaceutical annou

Samsung SDI will supply battery cells and modules to Akasol, a German company specializing in manufacturing battery systems for commercial vehicles, trains, ships and construction equipment. The company is capable of producing battery systems for up to 1,500 electric buses per year.Under an agreemen

LG Chemical announced on Sept. 24 that it has signed a contract with Umicore of Belgium to purchase 125,000 tons of cathode materials beginning in 2020. The amount is enough to produce more than one million batteries for high-performance electric vehicles (EVs). Umicore is a Belgian-based chemical m

Hyundai Motor Group aims to start applying self-driving technology to finished vehicles around the end of 2020 and begin to mass produce self-driving cars in 2024, said the group’s executive vice chairman Chung Eui-sun in New York on Sept. 23 (local time).“If our software solutions are excellent, ot

Korea Gas Corp. (KOGAS) will annually import 1.58 million tons of LNG from the United States for up to 18 years starting from 2025. The total import bill amounts to about US$10 billion.On Sept. 23 (local time), Chae Hee-bong, president of KOGAS signed a long-term U.S. LNG purchase agreement with Rob

With the implementation of the IMO 2020 three months away, shipbuilders, refiners and steelmakers are scrambling to benefit from the regulatory change in vessel fuel. The International Maritime Organization (IMO) will lower the sulfur cap for vessel fuel from the present 3.5 percent to 0.5 percent f

Hyosung Corp. announced on Sept. 23 that it has started a full-scale commercial operation of its first Indian spandex plant located in the Auric Industrial Complex near Aurangabad Industrial City in Maharashtra. The plant is capable of producing 18,000 tons of spandex annually and covers an area of

Lotte Group is selling its financial subsidiary, Lotte Capital, to its Japan-based subsidiary. Accordingly, the group has sold all of its financial subsidiaries to meet the regulatory requirements of the Monopoly Regulation and Fair Trade Act.Lotte Corp., the holding company of Lotte Group, said on

Orion Corp.’s overseas business is showing obvious signs of recovery.A consensus estimate of the company’s consolidated operating profits in the third quarter is 85 billion won (US$71.13 million), up 8.02 percent from a year earlier, according to financial market tracker FnGuide on Sept. 23. A conse

Doosan Heavy Industries & Construction announced on Sep. 22 that the Bintan 4 Thermoelectric Power Plant completion ceremony took place in Binh Thuan, Vietnam on Sep. 21. The ceremony was attended by Vietnamese Deputy Prime Minister Truong Hoa Binh, Electricity of Vietnam (EVN) Chairman Duong Quang

A steady rise in refining margins, a key indicator of oil refiners’ profitability, is raising expectations for an earnings improvement of domestic oil refiners in the second half of this year.The benchmark Singapore complex gross refining margin (GRM) stood at US$10.1 per barrel in the third week of

Hyundai Motor Group announced on Sept. 23 that it will officially open CRADLE Beijing in Beijing and accelerate cooperation with strategic partners in China to find new growth engines.CRADLE Beijing is Hyundai Motor Group's fifth global open innovation center after the Hyundai CRADLE Silicon Val

Kolon Life Science Inc. announced on Sept. 23 that the U.S. Food and Drug Administration (FDA) maintained its order to suspend patient enrollment for clinical trials on Kolon TissueGene’s gene osteoarthritis drug Invossa, whose permit as Korea’s first gene therapy drug had been revoked by the Korean

An increasing number of South Korean pharmaceutical companies are setting up R&D centers in Boston, one of the largest biotech hubs in the world, to accelerate new drug development based on more open innovation with American companies.For instance, Green Cross Corporation’s Boston office is schedule

Celltrion announced on Sep. 23 that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) gave an opinion in favor of the sale of Remsima SC on Sept. 20. The company requested the EMA 10 months ago to approve sales of the world’s first subcutaneous inflixim