A Seoul court on Friday started reviewing a preliminary injunction requested by game publisher Wemade to withdraw the decision from South Korea’s top five crypto exchanges to delist Wemix, a token issued by the game company's blockchain platform. This petition for a preliminary injunction was filed on Monday after the Digital Asset Exchange Alliance (DAXA) comprised of five crypto exchanges -- Bithumb, Upbit, Coinone, Korbit and Gopax -- announced on Nov. 24 they would halt trading

Concerns mount over the possibility of prolonged walkout leading to production disruptions across industries

Shares of Posco companies fluctuated Thursday after one of its two unions decided to leave the Korean Metal Workers’ Union, considered one of the most hard-line labor groups here, via ballot a day earlier. In a ballot held for three days, almost 70 percent of the Posco unionists voted in favor of the departure. The KMWU falls under the Korean Confederation of Trade Unions, the nation’s largest and most powerful labor group. Following the news, Posco Steeleon, a steel plate producer,

SK Group, the nation’s second-largest conglomerate, appears to be seeking stability rather than drastic changes in the face of economic uncertainty, as it carried out a modest year-end leadership reshuffle across affiliates. SK Supex Council, the group’s top decision-making body, said its Chairman Cho Dae-sik will extend his two-year term again for a fourth time since he took the post in a unanimous vote among council members in 2017. The council, however, replaced the heads of the f

Korean cryptocurrency exchange operators have suffered setbacks in earnings in the third quarter, as investors' appetite for virtual assets fizzled following a string of incidents revealing their risks. According to Dart, the Financial Supervisory Service’s electronic disclosure board, the net profit of Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit, marked 159.98 billion won ($123 million) during the quarter that ended in September. Although this was an i

Celltrion tops the list, with interaffiliate transactions exceeding 40 percent of yearly sales

One month after Lee Jae-yong was promoted to the top post at Samsung Electronics, South Koreans are found to have a more favorable view of him than before, data showed Thursday. According to research firm Data&Research, a total of 18,335 online posts, excluding news reports, featuring the phrase “Chairman Lee Jae-yong” have been published in the month since his promotion to chairman on Oct. 27. The figure almost doubled from 9,764 posts a month earlier. During the same period, Le

South Korean shipbuilder Hyundai Heavy Industries will showcase its vision for a sustainable maritime future at the Consumer Electronics Show 2023, the firm said Thursday. CES, the world’s largest technology exhibition, is held in Las Vegas during the first week of January each year. This will be the shipbuilder’s second time taking part in the event. In this year’s exhibition, Hyundai Heavy Industries said it will exhibit its future maritime strategy with a focus on “Oce

South Korean builder Hyundai E&C said Thursday it has begun selling flats at its newly constructed apartment complex in Namdong-gu, Incheon. Named “Hillstate Incheon City Hall Station,” the apartment complex can house a total of 746 households in flats that range in area between 39 and 84 square-meters. Houses in that range were found to be in highest demand, according to the construction company. Hyundai E&C said regulations concerning real estate subscriptions and housing l

Hyundai Elevator, South Korea's largest elevator manufacturer, on Wednesday unveiled the six winners of its design contest for the future of elevators. A total of 347 individuals and teams from six different countries joined the contest, the manufacturer said. The six countries were South Korea, China, Indonesia, Vietnam, Malaysia and Turkey. Participants with different backgrounds, ranging from children to professional designers, submitted their works, in which they showed their own vision

The government made it clear there will not be any compromise with the unionized truckers

Samsung Electronics said Wednesday sales of its foldable phones for corporate use more than doubled on-year, partly because more companies have adopted remote working policies in the wake of the COVID-19 pandemic. From January to October, sales of Galaxy Z Fold and Galaxy Z Flip phones jumped by 105 percent compared to the same period in the previous year, the world's largest smartphone maker said. The Galaxy Z Fold4 and Galaxy Z Flip4 -- the latest versions rolled out this year -- led to t

Corporate Korea urged to adapt to new environment as Vietnam plays a more pivotal role in global value chain

South Korea's industrial output fell by the most in 30 months in October, data showed Wednesday, with retail sales also losing ground amid the prolonged economic uncertainties. Industrial production declined 1.5 percent on-month in October, following a 0.4 percent on-month decrease the previous month, according to the data from Statistics Korea. It marked the largest drop since the 1.8 percent decrease tallied in April 2020 in the wake of the COVID-19 pandemic. The output also fell for the

South Korean builder Daewoo E&C said on Tuesday its design prowess has been recognized again with a prestigious design award, continuing its winning streak through its brands, including their flagship apartment brand Prugio. The company said two of its entries won Bronze Prizes at the Good Design Award 2022 -- an esteemed design award ceremony hosted by the Ministry of Trade, Industry and Energy, which was held annually since 1985, under the Industrial Design Promotion Act. The awarded archi