With the warm spring weather and blooming flowers encouraging more and more people to take trips, Muju Deogyusan Resort has announced a new accommodation package. Muju Deogyusan Resort, located in North Jeolla Province, offers a scenic view of Deogyusan Mountain and its surrounding nature all year long. It is the only comprehensive mountain resort that is located in a national park in Korea. Its new 2023 package is divided into two types – the Breakfast Package and Muju Package. Both optio

Travel April 11, 2023

South Korean IT solutions provider LG CNS said Tuesday it is bolstering ties with US tech behemoth Microsoft to accelerate collaborations in artificial intelligence, the cloud-based digital transformation, known as DX for short, and other joint projects. According to the company, CEO Hyun Shin-gyoon met with Microsoft Executive Vice President and Chief Commercial Officer Judson Althoff at the US company’s headquarters in Redmond, Washington, last Thursday (local time) to attend a high-leve

Technology April 11, 2023

South Korean drugmaker Celltrion confirmed the safety and efficacy of its biosimilar version of Xolair, which treats asthma and urticaria, in a phase 3 clinical trial, the firm said on Monday. CT-P39 references Xolair, or omalizumab, a therapy jointly developed by global biotech company Genentech and healthcare company Novartis. Xolair is mainly used to treat allergic asthma and chronic urticaria, or hives, as well as nasal polyps. Global sales of the medication reached approximately 5 trillion

Industry April 10, 2023

LG Group, the nation’s fourth-largest conglomerate, has joined forces to promote Busan’s bid for the 2030 World Expo. During a week-long visit by an on-site inspection team from the Bureau International des Expositions (BIE), the intergovernmental regulating body for World Expos, LG is carrying out diverse promotional activities to raise spirits and support for the port city’s strong desire to host the Expo, one of the largest international gatherings. Since the BIE delegation&

Industry April 6, 2023

South Korea's bid to host the World Expo in Busan envisions the event morphing into a global platform providing solutions for the pressing challenges faced by the post-pandemic world. Under the theme of “Transforming Our World, Navigating Toward a Better Future," Busan aims to lead the global fair to take a great leap forward to become a venue of discussions needed for radical transformation like climate change, polarization and digitization. In the past, Expo themes were typical

Technology April 6, 2023

Luxury fashion platform Jente said Thursday its sales hit a new high of $24 million last year, a 140 percent jump from a year ago, extending its winning streak since its launch in 2020. According to the company, operating profits also almost tripled to $3.3 million last year, compared to $900,000 in the previous year. The company said that the growth had given it a footing as a representative luxury shopping platform here. The number of monthly active users, a key e-commerce indicator, also surg

Consumer April 6, 2023

Hyundai Motor Group announced Wednesday it has released a promotional video titled “Busan is Ready!” on several digital platforms for the city’s bid to host the 2030 World Expo. It is the latest installment of the group’s large-scale video campaign series, which has been taking place over the last two weeks. The video aims to show Busan’s appeal as the perfect location to host the World Expo by highlighting its competitiveness and role as a technological, cultural a

Industry April 5, 2023

Samsung SDI said Sunday that it opened a new research and development center in Shanghai on Saturday, completing its global network of research facilities around the world. The new center, called SDI Research & Development China, or SDIRC, will collaborate with universities and research institutions to secure localized technologies, analyze industry trends and cultivate local talent. Samsung SDI especially pinned high hopes on the nation’s state-backed battery industry. On top of the g

Industry April 2, 2023

Mirae Asset Global Investments announced on Thursday that Global X Japan, its joint investment venture in Japan, surpassed 100 billion yen ($756 million) in assets under management, just two years after launching its first product. Global X Japan is a joint venture established in September of 2019 by Global X Management – a New York-based fund management firm acquired by Mirae Asset Global Investments in 2018 – and Japanese investment company Daiwa Asset Management. It is the only ma

Market March 30, 2023

Hyundai Engineering & Construction will bring convenient concierge services to its Hillstate Sunhwa the Wise – a residential and commercial apartment complex in Daejeon. The complex, with units now for sale by Hyundai E&C, stands 54 floors tall including underground floors and contains 851 medium-sized to large apartments. In entering a partnership with the Dopda, a premium concierge service company, to offer premium services to residents of the apartment complex, Hyundai E&C a

Industry March 30, 2023

LG Energy Solution CEO Kwon Young-soo has purchased 1,000 shares of the company’s stock, according to the firm's public disclosure on Thursday. The price for each share during the time of purchase was 572,800 won ($446), bringing the total value to 572.8 million won. The CEO in April last year purchased 1,000 company shares at 420,000 won each. “By consistently purchasing shares of our company, CEO Kwon is enhancing our shareholder value and demonstrating responsible management,

Market March 30, 2023

LG Innotek said Wednesday it has successfully developed an upgraded vehicle-to-everything communication module that drastically improves data transmission speed. The second-generation 5G network-based module, using Qualcomm chips, is considered a crucial safety component for autonomous driving. The company said it is seeking to start promotional activities targeting global car and parts makers, with an aim to debut the final product by 2025. The official product name is 5G-V2X Cellular Module. T

Technology March 29, 2023

KB Financial Group announced Wednesday that it earned the title of the first and only Korean financial firm to receive the top AAA rating on the 2022 MSCI ESG Index -- an index organized by Morgan Stanley Capital International which evaluates companies based on their environmental, social and governance performance. The MSCI ESG Index measures a company’s management of long-term, financially relevant ESG risks and opportunities relative to their peers, according to MSCI. The rating categor

Economy March 29, 2023

Incheon Airport marks its 22nd anniversary on Wednesday this year, celebrating a rebound in international travel and cargo shipping after the pandemic upended air travel for three years. Despite the setback, it has maintained its status as the second-largest logistics hub in Northeast Asia, Incheon International Airport Corp. said in a statement. Incheon Airport processed the second-largest amount of international cargo in the world both in 2021 and 2022, the airport said. Including passenger pl

Mobility March 29, 2023

KT Submarine, a marine business unit of South Korean telecommunications giant KT Corp., is gaining fresh momentum in sales. The company posted 42.8 billion won ($33 million) in sales last year, a 43.2 percent jump from a year ago, largely driven by global orders in key markets such as the US and the Philippines. Its operating deficit, however, increased from 5.1 billion won to 6.6 billion won during the same period due to one-time expenses for upgrading equipment. “This year, we plan to co

Industry March 28, 2023