As Lotte Card and Lotte Insurance are officially put up for sale, attention is focusing on who will take over the two Lotte Group units.Market analysts say the most likely candidates to acquire the two companies are financial groups that are familiar with the credit card and insurance businesses. No
Korean beauty companies as well as pharmaceutical firms are scrambling for supremacy in dermacosmetics which has emerged as a new future growth engine in the cosmetics market. Dermacosmetics, a compound word of dermatology, the branch of medicine dealing with the skin, and cosmeticd, comprehensively
SK Telecom and Samsung Electronics announced on Nov. 21 that they have signed an agreement on joint R&D on 5G technology to provide unrivaled high-quality 5G services.The two companies agreed to work together for the development of mobility-enhancing technology for the 3.5GHz and 28GHz bands, develo
CJ CheilJedang's Bibigo dumplings have created a dumpling fever among Vietnamese consumers. The Korean food company localized its dumplings by adding local consumers’ favorite ingredients to its products and using a packaging method suitable for the weather conditions in Vietnam.CJ CheilJedang s
Hyundai Motor and Kia Motors have unveiled a robot-based intensive inspection system for electronic devices through their media channels, HMG Journal and HMG TV.The two automakers say that the inspection system is the world's first to use six robots to simultaneously inspect six safety-related s
Boryung Pharmaceutical is stepping up efforts to develop both biologics and chemical drugs.According to the pharmaceutical and biotechnology industry on Nov. 20, Boryung Pharma is seeking to enter the biopharmaceuticals market by developing an immune cell therapy treatment through its subsidiary Vig
IBM is considering commissioning Samsung Electronics to produce high-performance CPUs for next-generation mainframe servers.According to server industry sources on Nov. 20, Samsung Electronics recently held talks with IBM regarding the production of CPUs using its extreme ultraviolet (EUV) lithograp
Leading South Korean food maker CJ Cheiljedang Corp. has become the largest producer of lysine in Brazil and South America for the first time in 10 years after entering the markets.CJ Cheiljedang established its plant in Piracicaba, Brazil, in 2007. The company’s market share is more than two times
Hyundai Motor Co. has joined hands with Brown University of the United States, a leader in “brain engineering,” to strengthen its future mobility capabilities.The company announced on Nov. 19 the launch of the “Hyundai Visionary Challenge,” an open innovation project with global partners aimed at st
On Nov. 13, 2018, Pivo officially launched globally on Kickstarter and within the first 15 hours, the campaign was 100% funded by over 200 backers worldwide. In less than 48 hours the campaign doubled that by exceeding 200% of the original funding target goal."With still about 50 days left in the Ki
The Korea Employers Federation (KEF) asked the South Korean government on Nov. 16 to reconsider its amendment to the enforcement decree of the Minimum Wage Act.At present, the amendment is being examined by the Ministry of Government Legislation after its release on Sept. 19 for public comments. Acc
COOLJAMM Inc., a Korean startup that developed the humming-based song composition application "HumOn," participated in the demo day event hosted on Nov. 7 by the California-based startup accelerator and incubator SkyDeck.COOLJAMM Inc., a member company of the K-ICT Born2Global Centre, was the first
Samsung Electronics has unveiled its latest premium mobile application processor (AP), the Exynos 9, with optimized artificial intelligence (AI) features. Accordingly, AI performance of Samsung’s next flagship smartphone (expected to be named the Galaxy S10), which will be launched next year, is exp
Korea will become a hot spot in the areas of telematics, navigation system, connected car, and driver assistance system, said a top executive of Mercedes-Benz on Nov. 7.“Mercedes-Benz will cooperate with Korea in these fields,” said Markus Schaefer, a management board member of Mercedes-Benz Cars re
LG U+ is stepping up preparations to launch 5G services in March next year. It plans to build a 5G ecosystem by linking large and small vendors of network equipment and devices and provide stable services through optimal cell design.LG U+ plans to emit its first 5G radio waves on Dec. 1, centering o
Moody's Investors Service has changed the outlook on the ratings for Hyundai Motor Co. (HMC), Kia Motors Corp. and Hyundai Mobis Co. to negative from stable.At the same time, Moody's has affirmed the Baa1 issuer ratings of HMC, Kia and Hyundai Mobis, and the senior unsecured bond ratings of
SK Plasma, a company specializing in blood products, said on Oct. 30 that its new factory in Andong, North Gyeongsang Province, has started full-scale commercial production.SK Plasma invested about 150 billion won to build a new plant at the Bioindustry Complex in Andong to expand the supply of bloo
Hyundai Motor announced on October 29 that it has signed an MOU with the Tsinghua Industrial Development Institute in China on strategic hydrogen energy collaboration and agreed to establish a US$100 million hydrogen energy fund. Hyundai Motor and World Capital, an investment organization under the
As Korea's finished car producers are suffering from a deepening slump in business performance, the Korean automobile industry as a whole is undergoing an unprecedented crisis.Concerns about the industry are growing as the domestic automobile industry is vertically integrated. In this system, th
With low-end wines gaining popularity among the younger generation, consumers now can purchase a pack of two bottles of wine at an unbelievably low price of 9,980 won (US$8.77).As a bottle of wine is available for less than 5,000 won (US$4.39) after four cans of imported beer for 5,000 won (US$4.39)