Hanmi Pharmaceutical is poised to bring a new chapter to obesity treatment, a topic that has garnered significant attention at this year’s JP Morgan Healthcare Conference. Despite the spotlight on obesity drugs, industry concerns remain about potential side effects such as nausea, vomiting and overall muscle loss, which could lead to further complications for patients. Choi In-young, senior vice president and head of Hanmi Pharmaceutical's R&D Center, expressed confidence in the success of Hanmi

South Korea's shipbuilding industry appears to be exploring potential collaboration with its Indian counterpart, with representatives from Hanwha Ocean Co. visiting the South Asian nation following a recent tour of Korean shipyards by Indian officials, according to industry sources Thursday. A Hanwha Ocean delegation led by Senior Vice President Lee Jin-su is currently visiting India to discuss cooperation with local shipyards and government officials. Hindustan Shipyard Ltd., a publicly owned s

Samsung Electronics Co. said Thursday it has teamed up with IBM Corp. to build a front-line emergency communications network in Britain. As part of the British government's Emergency Services Network, Samsung will provide its mission-critical solution, marking the company's first venture into the European emergency services network market, according to the company's newsroom. The ESN is designed to prioritize network access for first responders during emergencies, ensuring reliable and seamless

South Korean flatscreen maker LG Display said Wednesday it has narrowed yearly losses in 2024 and posted a first quarterly turnaround in the October-December period, thanks to its strategic shift to more profitable organic light-emitting diode panels. In a regulatory filing, LG reported it posted a revenue of 26.6 trillion ($18.3 billion) in 2024, which grew 24.8 percent when compared to the year earlier, while the operating loss stood at 560.6 billion won, down 77.7 percent on-year. Net loss lo

Hanjin Group, the parent company of Korean Air, announced its regular executive appointments for the new year on Wednesday, promoting President Woo Kee-hong to vice chair of the nation's largest airline and flag carrier. This marks the first such appointment following the airline's merger with Asiana Airlines last December, ushering in a new chapter as one of Asia's largest carriers. Woo, who has served as president since 2019, steps into the vice chairman role, filling a position vacant since 2

SK Ecoplant, the infrastructure developer affiliated with SK Group, forged a long-term partnership with BMW to recycle used batteries from the auto giant’s electric vehicles, industry sources said Wednesday. Under the partnership, SK Ecoplant’s European subsidiary, SK TES, will collect battery scrap -- used or faulty batteries -- from BMW's operations across Europe and process them, facilitating the extraction of raw materials for new batteries. The agreement was finalized in November. It is the

The American Chamber of Commerce in Korea co-hosted an event Tuesday in Seoul with Palo Alto Networks to explore how artificial intelligence is reshaping the digital landscape and revolutionizing cybersecurity strategies. The event "Ignite on Tour Korea CxO" served as a platform for industry leaders and experts to discuss the future of cybersecurity and share security strategy insights while showcasing how Precision AI, an AI tool from Palo Alto Networks, a global leader in cybersecurity solutio

DB Robotics, South Korea’s only robotics company specializing in industrial safety and the prevention of major industrial accidents, announced Wednesday that it has signed a memorandum of understanding with SK Shieldus to broaden its role in the specialized robotics sector. Established in 1999, DB Robotics has a track record of developing advanced robotics solutions tailored to specialized industries, earning certification for excellence in technology from credit bureau NICE Information Service

Yuhan-Kimberly has named Lee Jay-hoon, former head of Korean discount chain Homeplus, as its new chief executive officer, the company announced Wednesday. According to the sanitary product manufacturer, Lee brings three decades of leadership experience in the retail and consumer goods industry, having served as CEO of the now-defunct convenience store chain BuytheWay, as well as KFC Korea and the cosmetics firm Carver Korea. Most recently, he led Homeplus as CEO since 2021. Having studied busine

South Korea's industry ministry said Wednesday the government will accelerate support for the power grid industry to maintain export momentum and foster it as a new growth engine. The announcement came as South Korea's exports of power grid packages reached $11.56 billion in 2024, surging 10.6 percent from a year earlier to set a new high, according to the Ministry of Trade, Industry and Energy. South Korea has also recorded a double-digit growth in power grid package exports for four consecutiv

South Korea's trade minister said Wednesday the government will expand efforts to protect the country's intellectual property through trade agreements amid the growing popularity of Korean entertainment content overseas. Trade Minister Cheong In-kyo made the remark during a meeting with around 30 trade experts to discuss strategies to protect the country's intellectual property in the global market, according to the Ministry of Trade, Industry and Energy. "South Korean businesses have been posti

LG Electronics Inc. said Wednesday it has signed a strategic partnership with Microsoft Corp. to strengthen the content of the gaming platform of its smart TVs. Under the partnership, additional Xbox games from Microsoft, including the Harry Potter game "Hogwarts Legacy," will be available for subscribers of Xbox Game Pass Ultimate on LG TV's AI webOS platform, the company said in a press release. The company did not provide an exact date for the new Xbox games. LG Electronics currently provides

South Korea's industry ministry said Wednesday the government will spend 1.5 trillion won ($1.02 billion) this year to induce consumers to purchase electric vehicles. The move is aimed at revitalizing domestic demand for EVs amid sluggish sales driven by safety concerns and a lack of access to charging stations, according to the Ministry of Trade, Industry and Energy. The accumulated number of EVs and hydrogen fuel cell cars stood at 720,000 as of end-2024, with EVs accounting for 680,000. Domes

Container shipping costs from South Korea to China decreased in December compared with a month earlier, reversing the upward trend, the customs agency said Wednesday. The average shipping cost for a 40-foot container from South Korea to China fell 1.1 percent from a month earlier to 8 million won ($5,473) last month, according to the data from the Korea Customs Service. The decline interrupts the rising trend observed since February, which had only briefly slowed down with a temporary dip in Oct

Hyundai Motor Co. said Wednesday it seeks to sell at least 58,000 units of its newly facelifted Palisade SUV in the domestic market by leveraging its hybrid and new nine-seat variants. The newly overhauled Palisade comes six years after the model's debut in November 2018. The 2.5 turbo gasoline version was released Wednesday, while the hybrid model will be available in the second quarter. The revamped version boasts a longer body and increased interior space compared to its predecessor, offering