With intensifying competition for higher audio specifications (performances) among smartphones, a lot of attention is converging on the high definition digital music market. Meanwhile, a high-priced player has been required to enjoy high quality digital music. But now more advanced smartphones ar
GS Caltex, the nation's second largest oil refiner, will establish a demo plant producing biobutanol made with nonedible biomass, such as waste farm crops and waste wood, the first of its kind in the world.The company held a groundbreaking ceremony of its biobutanol manufacturing plant at the second
South Korea's leading drugmaker Hanmi Pharmaceutical Co. announced on September 29 that it has entered into an exclusive development and license agreement with Genentech, a subsidiary of the Roche Group, for the development and commercialization of Hanmi’s pan-RAF inhibitor, HM95573 which is current
Ssangyong Motor Co., the South Korean unit of Indian automaker Mahindra & Mahindra, announced that it unveiled the LIV-2 SUV concept at the 2016 Paris Motor Show in France on September 29 (local time) for the first time in the world. The LIV-2 concept previews the Y400 model which is a flagship SUV
Kolon Industries has announced on September 29 that it will invest 40 billion won (US$36.35 million) in the Gumi plant to expand its spunbond production lines. The construction is expected to begin next month and end in the fourth quarter of 2017. Spunbond has been used to produce wall lining papers
The market quite positively responded to the Chevrolet Bolt, a next generation eco-friendly car of GM. In particular, a steady increase in its batteries and infotainment system is expected to contribute to expanding sales of LG Electronics and LG Chem which produce related components and parts. Ac
Naver and Line will make investment in an investment company set up by Fleur Pellerin, a former French minister. They secured a foothold in Europe for the purpose of elevating people’s awareness of Naver and Line in the European market and creating synergies by discovering start-ups.On September 29,
Tesla, a leading company in the electric car industry, applied for its first certificate for the S90D in Korea to the Ministry of Environment recently.According to the electric car industry and the Ministry of Environment on September 28, Tesla applied for the certification of gas emissions and nois
LG Innotek, a parts-making unit of LG Group, announced on September 29 that it won the first trial of a patent suit against Japanese electric motor-maker Nidec Corporation. The ruling came after the Korean parts-maker filed a lawsuit against Nidec in January of last year, alleging the Japanese firm
Doosan Bobcat Inc., U.S.-based compact construction equipment maker that was acquired by South Korea’s Doosan Infracore Co., announced on September 29 that it plans to repay US$100 million (110.05 billion won) debt on the 30th (local time in the U.S.) prior to the debt’s maturity date.In 2014, the c
14 consumers sued Suh Kyung-bae, chairman of Amore Pacific, for using banned chemicals in its 11 toothpaste products. They also filed a complaint against the company’s President, Shim Sang-bae, as well as representatives from Miwon Commercial, the chemical supplier, and Sohn Mun-gi, the minister of
The new Kia Rio makes its world debut September 29 in Paris at the 2016 Mondial de l’Automobile. Alongside the Rio, Kia will also introduce the latest upgraded version of Soul urban crossover, as well as a new high-powered ‘SX’ version of the Soul. The Rio is the Korean manufacturer’s global best-se
As a court rejected an arrest warrant for Lotte chairman Shin Dong-bin requested by the prosecution early morning on September 29, Lotte Group employees heaved a sigh of relief, saying that they avoided the worst. “We will minimize damages to customers, partners and employees and implement mid- to
South Korea and the UK formed a common bond to maintain a trade relationship at the current level after Brexit. On September 28, the Ministry of Industry, Trade and Resources of Korea announced that second vice minister Woo Tae-hee of Korea met Mark Price, minister of state at the Department for I
South Korea's National Pension Service (NPS), the world's third-largest pension fund by assets, is to sue Volkswagen for damages in a German court over the automaker's emissions scandal. It attracts attention as it is the first movement made by a domestic institutional investor after a German region
Various countermeasures to the North Korean nuclear threat are being discussed in the wake of the North’s recent nuclear warhead explosion test. According to Gallup Korea’s survey conducted between September 20 and 22 before the results were made public on September 23, 58% of the 1,010 adult respon
It was found that the volume of fakes surpassed 3 trillion won (US$2.7 billion) in past five years and the most frequently faked brand was Louis Vuitton. On September 28, according to data on a crackdown on intellectual property right violators which lawmaker Park Myung-jae (the Saenuri Party) who
The government made a plan to finish reorganizing business regarding terephthalic acid (TPA) and polystyrene (PS) picked as glut items in the petrochemical industry. In the case of steel industry, the government will push ahead with a cut in or the integration of facilities to produce steel plates a
South Korea’s national competitiveness recorded a low score while ranking 26th for three straight years. The World Economic Forum (WEF) announced on September 28 that as a result of assessing the competiveness of 138 countries, Korea placed 26th this year after 2014 and 2015. Korea once had its eye
Korea Midland Power Co. announced that it held a celebration for the Boryeong Thermal Power Plant Unit 3 recoding the world's long-term trouble-free operation of 6,000 days at the Boryeong Thermal Power Plant on September 28. The Boryeong Thermal Power Plant Unit 3 recorded 5,000 days of trouble-fre