The Korea Development Bank (KDB), the second-biggest shareholder in GM Korea Co., said on Dec. 18, 2018 it has accepted the carmaker's plan to set up a separate R&D company in a reversal from the state lender's opposition to the plan.Early in the day, General Motors Co. (GM) and the KDB, whi
The global shipment of feature phones increased in the third quarter of the year amid slowing demand for high-end smartphones, as consumers in emerging markets opted for devices with basic functions, industry data showed on Dec. 19, 2018.According to the data compiled by industry tracker Counterpoin
South Korea is expected to make the largest investment in fab equipment next year of any country, but the total will still be about 35 percent less than this year, joining the global downward trend, according to a report.The Semiconductor Equipment and Materials International (SEMI) projected South
Daewoo Shipbuilding & Marine Engineering Co., the world's second-biggest shipbuilder by sales, said Tuesday it has won an order to build a liquefied natural gas (LNG) ship.Under the deal with an unidentified customer in the Oceania region, Daewoo Shipbuilding will deliver the vessel by the first
The operating income growth of major South Korean listed companies is expected to slow down next year because of unfavorable global economic circumstances and an expected slump in the semiconductor industry, a market tracker said Tuesday.The combined operating profit of 179 companies listed on the c
The local semiconductor industry is waiting for the latest corporate performance results of U.S. rival firm Micron Technology, Inc to get a better idea of where it is headed, officials said Tuesday.Micron is due to announce its profits for the September-November period Wednesday."The market's c
The financial watchdog said on Dec. 17, 2018 it has signed a deal with SK Telecom Co., the nation's biggest wireless operator, to jointly develop an artificial intelligence platform to combat telephone scams.Under the deal, the Financial Supervisory Service (FSS) will provide voices of phone sca
Organic light-emitting diode (OLED) panels accounted for more than 60 percent of the world's market for smartphone displays in the third quarter of 2018, data showed on Dec. 17, 2018.According to the data compiled by industry tracker IHS Markit, the global market for smartphone displays came to
Two nuclear reactors under construction in the United Arab Emirates (UAE) were found to have voids in their concrete walls and have been undergoing repairs, the Emirates Nuclear Energy Corporation (ENEC) has said.The Korea Electric Power Corporation, which is in charge of the construction of four re
GC Pharma, a South Korean pharmaceutical firm, announced on Dec. 17, 2018 it has won an approval from the local public health authority to carry out clinical tests on a drug that can be used to treat hemophilia.The drug company, also known as Green Cross Corp., said the Ministry of Food and Drug Saf
South Korea will announce a set of support measures next week for the country's troubled auto parts industry, a top official said Thursday.Hong Nam-ki, the minister of economy and finance, said the auto industry is a major priority as South Korea has been struggling to reinvigorate the manufactu
Samsung Electronics Co. has been named the most loved brand in Russia for the eighth year in a row, a market researcher said Friday.In the survey carried out by Russia's Online Market Intelligence (OMI), Samsung Electronics garnered 18.3 percent of support from 1,500 respondents living in the co
An increase in the minimum wage has helped improve productivity at South Korean manufacturing firms in general, but its impact varied by sector and size of business, a report said Friday.South Korea's minimum wage has gradually increased since the government first implemented the policy in 1988.
Kim Kil-jun, a taxi driver for 22 years, thought his taxi-hailing app was like a business partner, something that helped him get more fares, but now he feels like the platform has turned on him and become a powerful competitor in South Korea's growing mobility market.The app's operator, Kaka
Nearly half of the country's listed firms reported declines in their sales in the three quarters this year ending September, an analysis by a think tank indicated on Dec. 13, 2018.The Korea Economic Research Institute (KERI) looked into the performances of 578 listed companies during the nine mo
Samsung Electronics Co. on Dec. 13, 2018 unveiled a new laptop equipped with an improved stylus that can carry out a wider range of more detailed tasks.The South Korean tech giant said the Samsung Notebook Pen S, which can also be converted to a tablet PC, will hit the local shelves starting on Dec.
South Korea's top mobile carrier SK Telecom Co. said on Dec. 13, 2018 it has joined forces with German partner Deutsche Telekom to carry out joint projects in the field of mobile edge computing.SK Telecom said it has reached an agreement with MobiledgeX, a wholly-owned subsidiary of Deutsche Tel
GM Korea Co., the South Korean unit of General Motors Co., on Dec. 13, 2018 launched its new Camaro SS in the domestic market to diversify its product lineup.The upgraded version of the sixth-generation Chevrolet muscle car comes with a 6.2-liter V8 engine and the Hydra-Matic 10-speed automatic tran
South Korea's jobless rate rose slightly in November, government data showed on Dec. 12, 2018, amid the government's efforts to create more jobs.The unemployment rate stood at 3.2 percent last month, up 0.1 percentage point from a year earlier, according to the report compiled by Statistics
Samsung Electronics Co. ranked first among major businesses around the globe in terms of spending on research and development (R&D) for the 2017 financial year, a report showed on Dec. 12, 2018.According to the 2018 EU Industrial R&D Investment Scoreboard released by the European Commission, the Sou