The agreement will allow Samsung Bioepis to distribute, market and sell the biosimilar Ontruzant in the United States, according to the source.Ontruzant, the breast cancer treatment biosimilar referencing Roche's Herceptin, won approval from the U.S. Food and Drug Administration earlier this yea

South Korea's trade minister said Monday the government plans to file a complaint with the World Trade Organization (WTO) over Japan's decision to tighten the rules for exports of semiconductor and display materials to Seoul, amid a simmering diplomatic row over wartime force labor. "South

General Motors Co.'s recent facility investment in South Korea and plans to launch new vehicles show the U.S. carmaker's strong commitment in the market, a GM executive said Tuesday.Early this year, the Detroit carmaker began to build a paint shop at the Changwon plant, one of its three car

South Korea is considering extending a temporary tax cut on purchases of all-electric and hydrogen fuel-cell electric cars, the finance minister said Tuesday, in the latest move to help eco-friendly cars expand their presence here.Since 2017, the government has waived a 5 percent special excise tax

South Korea's finance minister on Monday asked heads of major banks to increase lending to small and medium-sized firms as part of efforts to boost the economy.Hong Nam-ki, the minister of economy and finance, said it would be good if banks extend loans to smaller firms by taking into account th

South Korea's consumer sentiment dropped slightly from a month earlier to a five-month low in June, central bank data showed Tuesday, amid fears of an economic slowdown sparked by sluggish exports and a trade dispute between the world's two largest economies.The composite consumer sentiment

South Korea's financial watchdog said Sunday it has published special guidebooks on daily financial services for Russian-speaking foreigners here, in a move to help foreign workers and their spouses experiencing language barriers."The guide is to help foreign-language speakers living in Korea,

South Korea's finance ministry is expected to slightly cut its growth estimate for the year in the face of a delayed recovery in chip prices and the escalating trade dispute between the United States and China, sources said Sunday.The South Korean government has been adhering to the stance that

South Korea's nuclear safety commission said Friday that there has been mismanagement of radioactive waste-related data and called for immediate corrective measures.The Nuclear Safety and Security Commission said there was some mismatched information on the movement of low- and intermediate-leve

South Korea's economy and financial markets will be safely insulated even under the worst case that could become a reality amid the slowing global economy and the escalating trade dispute between the world's two largest economies, a central bank report said Thursday.The report, submitted to

South Korea has proposed to Japan that companies from both countries create a joint fund to compensate victims of Tokyo's wartime forced labor, the foreign ministry said Tuesday.Seoul made the proposal as Tokyo has been ratcheting up pressure on it to accept the request for the formation of an a

It's been a decade since Paul Bassett debuted in the South Korean coffee market with a focus on specialty coffee, and much of its success owes to a "positive evolution" in the local coffee culture, the Australian barista who gave his name to the brand says.Paul Bassett said his decision to joi

Korean Air Lines Co. said Wednesday it has signed a deal to purchase 30 B787 passenger jets to enhance its fleet, with the delivery set to begin next year.Korean Air signed a memorandum of understanding with Boeing to purchase 20 B787-10 planes and 10 B787-9s at the 53rd International Paris Air Show

South Korean shipbuilders and carmakers are set to report improved earnings this year on rising demand for high-end ships and SUVs, a major business lobby said Monday.Shipbuilders will benefit from rising demand for liquefied natural gas carriers and environment-friendly ships due to the Internation

South Korea and Sweden have signed six memorandums of understandings (MOUs) to expand trade and cooperation in emerging industries, the government said Saturday.The MOUs were signed in line with President Moon Jae-in's visit to Sweden on the last leg of his eight-day Northern Europe trip that al

The number of employed men in their 40s shrank at the fastest pace in 27 years last month, attributable to the declining population and lackluster local manufacturing industry, government data showed Sunday.The number of employed males aged between 40 and 49 stood at 3.83 million in May, shedding 11

In what could be a drastic shift from his earlier commitment to standing pat, the head of South Korea's central bank on Wednesday hinted at an easing policy as the trade tension between the United States and China underscores the woes of Asia's fourth-largest economy.Bank of Korea Gov. Lee J

Air transportation leaders from across the world will gather in Seoul to discuss ways to stay profitable and tackle headwinds facing airlines at the upcoming annual meeting of the International Air Transport Association (IATA) this weekend, the global airlines body said Wednesday.More than 1,000 lea

Unemployment rate in South Korea's southeastern industrial city of Ulsan rose sharply in the first quarter of the year. The result of such sharp increase was due to the massive corporate restructuring moves.For the period January-March, the unemployment rate in Ulsan stood at 5.3 percent, 1.5 pe

South Korea's industry ministry pledged Tuesday to bolster efforts to upgrade the competitiveness of the country's key industrial sectors by expanding research and development efforts and easing regulations.The Ministry of Trade, Industry and Energy announced a set of measures to spur innova