Broadcasting Industry Promotion Week 2019 kicked off on Sept. 23 at the Seoul Dragon City Hotel located in Yongsan. At the opening ceremony of the event, the Ministry of Science and ICT declared the commencement of pilot terrestrial UHD services for pre-disaster warning. Receivers for the purpose we
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
Investors in the first batch of Hana Bank’s derivative-linked fund (DLF) products, which are to mature on Sept. 25, will suffer a 46 percent loss of their principal. The figure, although devastating, is better than the 60 percent loss suffered by investors in Woori Bank’s DLF products which matured
The South Korean government has decided to promote nuclear technology exports to revive the domestic nuclear power industry, which is having difficulty due to the nuclear phase-out policy.For starters, the focus of the nuclear export strategy will shift from construction of nuclear power plants over
Samsung Electronics Co. has fallen 26 notches in this year’s Global CR RepTrak 100, a global survey that rates multinational companies based on their corporate social responsibility (CSR) reputation.The company placed 90th in this year’s rankings, which were recently published by Boston-based consul
The Blue House of South Korea announced on Sep. 22 that the country is likely to sign free trade agreements with Indonesia, Malaysia and the Philippines at the special ASEAN summit scheduled for Nov. 25 to 27 in Busan City.“We already signed bilateral FTAs with the other two of our top five trade pa
The Korea Economic Research Institute announced on Sep. 22 that the average annual salary of wage earners in South Korea increased 4.6 percent to 36.34 million won last year. “The top 10 percent showed the minimum annual salary of 69.5 million won and it was 50.62 million won, 40.64 million won, 33.
South Korea posted an intellectual property (IP) trade deficit of US$880 million in the first half of this year, the largest first-half IP trade deficit in four years, whereas the deficit had been US$530 million in the first half of 2018, the Bank of Korea announced on Sept. 20.Specifically, the def
Industrial electricity use in South Korea decreased for the fourth consecutive month in July. Experts point out that the continuous decline signals another economic recession in that power consumption in the industrial sector is a good indicator of economic vitality. It accounts for more than half o
The South Korean government officially announced on Sept. 20 that the South Korean economy hit its latest peak in September 2017, which means a downtrend began after President Moon Jae-in took office. Some experts are pointing out that the Moon Jae-in administration is accelerating the downtrend wit
French consumers picked Samsung Electronics as their most loved brand for two consecutive years.Samsung Electronics ranked first with 45.7 points in the 2019 French Brand Rating Index released by YouGov, a global public opinion and data company.Decathlon, a French leisure goods brand, came in second
The Ministry of Health and Welfare announced on Sept. 19 that it will invest 200 billion won from 2020 to 2028 in research to find out the causes of dementia and prevent and treat the disease.The investment plan is part of the incumbent government’s policy, which was initiated in 2017, to put more r
Hanwha Corp. will host the 17th Hanwha Seoul International Fireworks Festival 2019 at Hangang Yeouido Park in Seoul on Oct. 5.The company has been holding the annual festival since 2000 as part of its social responsibility programs. Now it has evolved into an international festival combined with var
LG Display Co. plans to increase its organic light-emitting diode (OLED) TV panel sales in China by seven times within three years.The company held a “OLED Big Bang Media Day” at Mee Park in Beijing's 798 Art Zone on Sept. 19. It invited officials from TV manufacturers, including Skyworth, Hisen
Benefiting from sanctions on Huawei, Samsung Electronics ranked first in the Central and Eastern Europe (CEE) smartphone market in the second quarter.Samsung took up 40 percent of the CEE smartphone market in the second quarter of this year, Counterpoint Research said on Sept. 19. While the size of
Doosan Corp., the holding company of Doosan Group, held an investor relations (IR) session on Sept. 19 to present the business plans of the three companies to be created through a corporate spin-off.The firm has decided to spin off its fuel cell unit to create Doosan Fuel Cell and the material unit
The OECD adjusted its South Korean economic growth forecast for this year from 2.4 percent to 2.1 percent and that for next year from 2.5 percent to 2.3 percent. Previously, the OECD lowered the estimate for this year from 2.6 percent to 2.4 percent in May this year.The downward adjustments have to
The Korea Research-based Pharmaceutical Industry Association (KRPIA) has advised the South Korean government to improve the environment for clinicial trials of new cancer and rare disease treatments.The association announced on Sept. 19 that global pharmaceutical companies' clinical trials in Ko
Major Japanese newspapers gave front-page headlines on Sept. 19 to the Japanese government's announcement that the number of South Korean tourists visiting Japan almost halved from a year ago last month in the wake of their travel boycott.“The number of South Korean tourists in Japan dropped by