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Food Delivery App Yogiyo Fined for Exploiting Dominant Position in Market

Food Delivery App Yogiyo Fined for Exploiting Dominant Position in Market

SEOUL, June 2 (Korea Bizwire) — South Korea’s antitrust regulator on Tuesday fined food delivery app Yogiyo 468 million won (US$381,947) for exploiting its dominant position in the local market. The Fair Trade Commission (FTC) also ordered Yogiyo to take some corrective measures, saying that the company unilaterally introduced a scheme to prevent its contracted [...]

Korean Air Introduces New Service Enabling Passengers to Check Luggage Location

Korean Air Introduces New Service Enabling Passengers to Check Luggage Location

SEOUL, June 1 (Korea Bizwire) — Korean Air Lines Co., the country’s top flag carrier, launched a new notification service on Monday for all international passengers departing from Incheon International Airport enabling them to check that their luggage is safely loaded onto the aircraft. Passengers can use a Korean Air mobile app to see if [...]

Five-star Hotels Turn to Home Shopping Networks to Attract Local Customers

Five-star Hotels Turn to Home Shopping Networks to Attract Local Customers

SEOUL, May 22 (Korea Bizwire) — The hotel industry, which is on the brink of collapse due to the outbreak of the coronavirus, is breaking its business framework to survive. While each hotel is scrambling to offer huge discounts, a five-star luxury hotel in downtown Seoul will also showcase rooms that have sharply lowered prices [...]

S. Korea’s Pharmaceutical Market Grows 5.3 pct in Q1

S. Korea’s Pharmaceutical Market Grows 5.3 pct in Q1

SEOUL, May 22 (Korea Bizwire) — South Korea’s pharmaceutical market grew more than expected in the first quarter of the year despite the new coronavirus outbreak, a report showed Friday. Domestic sales of South Korean and foreign pharmaceutical firms came to 5.06 trillion won (US$4.1 billion) in the January-March period, up 5.3 percent from a [...]

Samsung Biologics Inks Manufacturing Deal with GSK

Samsung Biologics Inks Manufacturing Deal with GSK

SEOUL, May 22 (Korea Bizwire) — South Korea’s top pharmaceutical firm, Samsung Biologics Co., said Friday it has signed a tieup deal with multinational drug maker GlaxoSmithKline Plc. (GSK) to manufacture a GSK biosimilar product. Under the contract manufacturing organization (CMO) agreement, Samsung Biologics will commercially produce CSK’s lupus treatment, Benlysta, starting in 2022. The [...]

Shared Kitchen, Shared Lodging Businesses for Locals to be Legalized

Shared Kitchen, Shared Lodging Businesses for Locals to be Legalized

SEOUL, May 21 (Korea Bizwire) — South Korea will seek law revisions to allow the operation of sharing economy ventures, such as shared kitchens and shared lodgings for locals, in a bid to expand horizons for the emerging business model, the prime minister’s office said Thursday. During a policy coordination meeting presided over by Prime [...]