SEOUL, July 12 (Korea Bizwire) — South Korean shipbuilder Hanwha Ocean Co. said Wednesday it has succeeded in developing three key devices of a submarine sonar system. They include a sonic depth finder, a sonar beacon and an underwater environment measuring apparatus, which could help boost the operational capability and viability of a submarine, Hanwha [...]
SEOUL, July 12 (Korea Bizwire) — LG Electronics Inc. unveiled a new vision for its business on Wednesday to turn itself into a “smart life solutions provider,” as the traditional home appliance market has been going through rapid changes. The South Korean tech company said it will put more focus and resources into non-hardware products, [...]
SEOUL, July 12 (Korea Bizwire) — South Korea’s job additions remained stronger than expected in June on the back of the senior workforce, data showed Wednesday, although the on-year growth slowed for the third consecutive month. The number of employed people came to 28.81 million in June, up around 333,000 from a year earlier, according [...]
SEOUL, July 12 (Korea Bizwire) — South Korea plans to allow overseas financial firms to participate in the local foreign exchange market in the fourth quarter, the finance ministry said Wednesday, in the latest move to meet “global standards.” Under the measure, the country will allow foreign institutions that obtain registration from the South Korean [...]
SEOUL, July 12 (Korea Bizwire) — Rain and sun dual-use umbrellas are enjoying increasing popularity due to the unpredictable weather during the rainy season, which brings both rain and sunshine. Online shopping mall Gmarket witnessed a threefold increase in the sales of umbrellas and yangsan (small portable parasols) from July 3 to 9 compared to [...]
SEOUL, July 12 (Korea Bizwire) — Billboard, the U.S. music chart operator, has decided to exclude artist webstores from the tabulation of digital single charts, raising doubts about whether this decision is aimed at preventing K-pop singers from reaching the top. Billboard recently announced that it would no longer include D2C (Direct-to-consumer) websites in chart [...]
SEOUL, July 12 (Korea Bizwire) — A dispute over “idea theft” between startup Prinker Korea Inc. and cosmetics giant LG Household & Health Care Ltd. has been resolved through a win-win agreement. The dispute arose when Prinker Korea claimed in February that LG H&H had released a tattoo printer product by stealing the idea of [...]
SHANGHAI, China, July 11 (Korea Bizwire) — Shanghai Junshi Biosciences Co., Ltd (“Junshi Biosciences,” HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced that the supplemental new drug application for toripalimab, the company’s anti-PD-1 monoclonal antibody, in combination with axitinib for the first-line treatment [...]
SEOUL, July 12 (Korea Bizwire) — With the trend of saving even small amounts of money spreading amid the economic slump, South Korea’s major travel agency has unveiled new apps that pay users for walking. Hanatour Service Inc. announced on Tuesday that it launched the industry’s first step counter service, designed to provide rewards based [...]
SEOUL, July 12 (Korea Bizwire) — Korea Environment Corp. (KECO), a state environment promotion agency, said Tuesday that a demonstration facility for carbon capture and utilization technology will be established at a Philip Morris Korea Inc. factory in Yangsan, North Gyeongsang Province. The facility, scheduled to be completed on Thursday, leverages the carbon dioxide absorption [...]