Korea Hydro & Nuclear Power Co. (KHNP) announced on May 29 that it has successfully completed demand forecasting to issue won-denominated “social bonds.”The company planned to raise 150 billion won (US$125.58 million) by issuing 5-year, 20-year and 30-year bonds. But subscriptions totaled 560 billio

Market research firm IHS Markit reported on May 29 that global semiconductor sales totaled US$101.2 billion in the first quarter of this year with a year-on-year decline of 12.9 percent, the steepest decline since the second quarter of 2009.The rapid decline can be attributed to a slump in the globa

With the U.S.-China trade war ongoing, an official at the National Development & Reform Commission of China said during his interview with Xinhua News Agency that attempts to suppress the economic growth of China by using products based on rare earth elements exported from China will make Chinese pe

The primary reason the Ministry of Food and Drug Safety decided to cancel Kolon Life Sciences' license for degenerative arthritis gene therapy Invossa was the company’s submission of false data to win approval.In both the polymerase chain reaction (PCR) test carried out by the Drug Ministry and

Kolon Group is in the biggest crisis since its foundation as the Ministry of Food and Drug Safety has revoked the license of Kolon Life Science's Invossa-KInj. Invossa has been regarded as the biggest achievement of the former group chairman Lee Woong-yeul, who used to say that he invested a thi

Korea Corporate Governance Improvement Fund (KCGI) has increased its stake in Hanjin KAL Corp. to 16 percent.Grace Holdings Ltd., a special purpose firm of the Seoul-based activist fund, announced on May 28 that its stake in Hanjin KAL increased from 14.98 percent on April 24, the previous reporting

Coupang, an e-commerce platform in Korea, is the most frequently used shopping application among Korean Android smartphone users, according to a survey by WiseApp, an app and retail analysis company.In WiseApp’s survey of Korean Android phone users’ usage of shopping apps in April, Coupang came in f

With an international exchange rate war in the offing, South Korea’s financial instability index is on the rise.The Korea Institute for International Economic Policy (KIEP) said on May 28 that the nation’s financial instability index recorded 9.3 points in April this year, up 1.8 points from 7.5 at

Aekyung Group, a Korean cosmetics-to-health care conglomerate that owns low-cost carrier Jeju Air Co., is entering a bidding battle for Asiana Airlines Inc.Recently, the group has disclosed its intention to take over the financially troubled full-service carrier, while major business groups, such as

Hyundai Heavy Industries is coming to a devastating end over corporate division for Daewoo Shipbuilding & Marine Engineering acquisition. Unionized workers staged an all-out strike on May 22 and the management took action against it on May 28 by suing 23 workers. The number is likely to increase ove

The Hyundai Nexo FCEV has entered the Malaysian car market.Hyundai Motor Co. announced on May 27 (local time) that it provided two Nexos for Sarawak Energy, a local public company, at the hydrogen charging station opening ceremony held in Kuching, Sarawak.At present, Sarawak Energy is engaged in a p

Korea’s three mobile telecommunications companies will transfer Korea's 5G commercialization know-how to leading telecommunications companies in the Asia-Pacific region at the APAC 5G Summit held in Seoul on May 28 and 29.The APAC 5G Summit is designed to promote cooperation in 5G among countrie

Samsung Electronics is expected to launch the foldable smartphone “Galaxy Fold” after this June. The company is carrying out network interworking tests after supplying samples of the foldable phone to mobile carriers. With this news coming out, a majority of experts speculated that the Galaxy Fold w

Samsung Electronics has been releasing new non-memory products one after another since it declared its plan to grow into the world's No. 1 maker of system semiconductors by 2030.On May 28, Samsung Electronics took the wraps off power delivery controller semiconductors, MM101 and SE8A, which supp

Major Korean business groups such as Samsung, SK and LG are unlikely to participate in the anti-Huawei campaign for the time being. They are taking a more cautious approach to the U.S. request for participation in the campaign as they think that it is not a matter for individual companies to decide.

SK Group hosted Social Value Connect (SOVAC) 2019 in Seoul on May 28. More than 4,000 entrepreneurs, non-profit organization members, college students and citizens attended the event proposed by SK Group chairman Chey Tae-won.Over 80 organizations and groups took part as partners in the event held u

The Fair Trade Commission said on May 28 that it has decided to impose a fine of 50 million won (US$42,107) on LG Electronics along with a correction order for violating the Display Advertising Act.According to the commission, LG Electronics sold kimchi refrigerators from August 2012 to June 2016 an

The Ministry of Food and Drug Safety has revoked the license of Kolon Life Sciences' osteoarthritis gene therapy "Invossa" as it contained an ingredient that derived from a kidney instead of from cartilage.The ministry said on May 27, "One of the main ingredients of Invossa was identified as kid

Korean biotechnology startups are seeking to enter the U.S. market, the largest biopharmaceutical market in the world.The Korea Trade-Investment Promotion Agency (KOTRA) said on May 26 that 12 Korean biotechnology companies will participate in the 2019 Bio International Convention, which is a large-

Precision medical biotechnology company Macrogen has been designated by the Ministry of Food and Drug Safety (MFDS) as a clinical trial specimen analysis institution, which performs specimen analysis of blood and urine collected from clinical test subjects.Macrogen can now perform next-generation se