Samsung Electronics will acquire Israeli multi-camera maker Corephotonics. This is the company’s first acquisition of this year and the third after vice chairman Lee Jae-yong came back to management in February last year.Corephotonics is regarded as a technologically advanced company. It sued Apple

Hyundai Motor announced on Jan. 13 that it would build open innovation centers in Berlin and Beijing this year to complete a global open innovation network.The Korean automobile giant originally planned to launch open innovation centers at five major locations in the world by the end of last year. S

The Korean government’s labor policy is threatening to undermine the ecosystem of the domestic shipbuilding industry, which is beginning to show a recovery sign after a long slump.Although the Korean shipbuilding industry recovered the first place in new order receipts last year after ceding it to C

Celltrion Inc. is going to establish a joint venture company in China within this year to enter Chinese pharmaceutical markets on full-scale. China's drug market is the second largest in the world.Seo Jeong-jin, chairman of Celltrion Group, made this announcement at the JP Morgan Healthcare Conf

The Korean court imposed 14.5 billion won in fine on BMW Korea for manipulating emissions gas test reports.Judge Kim Hyun-deok of the Seoul Central District Court found BMW Korea guilty of violating the Customs Act, and slapped a fine of 14.5 billion won on the company on Jan. 10. Three former emplo

Samsung Electronics was found to be the company that registered the second largest number of patents in the United States last year. LG Electronics came in fifth. These facts suggest that Korean companies are making efforts to secure intellectual property rights through active research and developme

Tium Bio announced on Jan. 10 that it signed a technology export agreement worth US$74 million (83 billion won) with Chiesi Farmaceutici, an Italian global pharmaceutical company, for NCE401, which is a major therapeutic drug candidate for lung disease.NCE401 is a candidate for a mechanism that inhi

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

LG Chem will nurture its battery plants in Nanjing as a base for its battery business in China. The company plans to aggressively invest in factories in Nanjing in a bid to expand its presence not only in the Chinese electric car battery market but also in the wireless home appliance battery market.

Samsung Heavy Industries Co., a major shipyard in South Korea, is aiming to post 7.10 trillion won (US$6.34 billion) in sales and clinch US$7.80 billion (8.73 trillion won) worth of new orders this year.The company said on Jan. 10 that its sales would greatly increase this year as offshore projects,

The Face Shop, a skincare and cosmetics affiliate of LG LG Household & Health Care, will take over a factory in China. The company seems to have revised its strategy to local production after withdrawing all of its offline stores in China last year.LG Household & Healthcare announced on Jan. 9 that

Concerns are growing about the performance of Korean oil refining companies as rapidly falling oil prices are biting into their profits. Some market experts said oil refiners could post operating losses.Heungkuk Securities Co. lowered the target stock price of SK Innovation Co. and S-Oil Corp. to 24

Lotte Corp., the holding company of Lotte Group, is benefiting from the inclusion of Lotte Chemical Corp. as a subsidiary.Investment banking (IB) industry sources estimated on Jan. 9 the consolidated operating profit of Lotte Corp. at the fourth quarter last year at 109 billion won (US$97 million),

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

Samsung SDI announced on Jan. 8 that Harley-Davidson, a world leader in motorcycles, has powered its first electric motorcycle, “LiveWire” with a Samsung SDI battery pack.Harley-Davidson will unveil the LiveWire at CES 2019, which opens on Jan. 8 (local time) in Las Vegas.Harley-Davidson launched th

Samsung Electronics will take the wraps off the 2019 edition of the Family Hub refrigerator at CES 2019 that will run in Las Vegas for four days from Jan. 8 (local time).The product is the home electronics industry’s first refrigerator incorporating the Internet of Things (IoT) and artificial intell

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

The South Korean government is set to lanuch the nation's first power-to-gas (P2G) project, which converts electricity produced by solar power or wind power into hydrogen or methane gas. It is planning to invest 49 billion won (US$44 million) over the next five years to develop core technologies

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