Korean network carrier SK Telecom on Thursday began receiving preorders for the Luna S smartphone, a mid-tier smartphone jointly developed by local electronics maker TG&Co. and SK Telecom. The Luna S, priced at 568,700 won ($511), is an upgraded handset based on its predecessor Luna, promoted to success here by Seolhyun of K-pop girl group AOA last year. It will begin official sales Wednesday. (SK Telecom)

German life sciences and chemicals giant Merck opened a new biopharmaceuticals production and development support center in Incheon’s Songdo district on Thursday, as part of its moves to ramp up its presence in the country’s fast-growing biotechnology industry.　Located in the heart of Korea’s fast-growing biotechnology hub, Merck’s M Lab Collaboration Center is designed to provide local clients such as Samsung BioLogics, Celltrion and Green Cross with more comprehensive training and research and

New data detailing the genome sequence of a Korean individual was published in the scientific journal Nature on Thursday, offering new reference points specific to the Asian population for genetic scientists around the world. 　Titled “De Novo Assembly and Phasing of a Korean Human Genome,” the new academic research was compiled by the Seoul National University’s Genomic Medicine Institute in partnership with Korean genetic sequencing firm Macrogen.A graphic of a human genome based on a Korean in

Samsung Electronics’ newly upgraded Galaxy A8 smartphone began sales in South Korea on Wednesday, aiming to appeal to customers looking for a premium smartphone at a lower cost.　Sold exclusively through local network carrier SK Telecom, the Galaxy A8 is a mid-tier smartphone priced at 649,000 won ($583) -- making it around 300,000 won cheaper than the premium Galaxy Note 7, which recently resumed sales in Korea.A model holds up the new Galaxy A8, which was released in Korea via SK Telecom on Wed

The South Korean Ministry of Food and Drug Safety said Tuesday that it has decided to uphold its conditional sales approval of Hanmi Pharmaceutical’s novel lung cancer therapy Olmutinib, which is suspected to have caused the death of one patient during clinical trials overseas.　Under the decision made by the ministry’s Central Pharmaceutical Affairs Council, doctors can prescribe Olmutinib, sold under the trade name “Olita Tab.” to local patients on the condition that they are thoroughly informe

South Korean drugmaker Hanmi Pharmaceutical’s plans to globally commercialize its novel lung cancer therapy are in jeopardy after a patient died of a severe skin-related side effect linked to the drug’s use.The future of Hanmi’s lung cancer drug began to turn bleak Friday -- when Hanmi’s licensing partner Boehringer Ingelheim announced it would return the drug's development and commercialization rights it had purchased from the Korean drugmaker in July 2015 in a deal valued at $730 million.The s

South Korea’s agricultural and livestock sectors are seeking ways to keep business afloat amid concerns the new anti-corruption law that came into force last Wednesday would freeze market demand for their major products.　The Improper Solicitation and Graft Act bans members of government agencies, private education institutions, and media outlets from giving and receiving meals priced over 30,000 won ($27), presents over 50,000 won and monetary gifts over 100,000 won.Also known as the “Kim Young-

South Korea’s leading mobile game developer Netmarble Games said Thursday that it will on Friday embark on regulatory procedures to pursue an initial public offering on Korea’s main bourse Kospi.　Netmarble said it will apply for regulatory review of its IPO by the Korea Exchange, with plans to complete the public listing by the year’s end or early next year.Industry watchers predict Netmarble’s market capitalization could reach up to 10 trillion won ($9.13 billion), given its growth potential. L

South Korean children’s content is finding its way to overseas audiences through YouTube and Google Play, thanks to the platforms’ ability to reach viewers without traditional limitations such as allocated TV time slots.　“New distribution platforms like YouTube and Google Play have fundamentally changed the way we bring our animations to our audience,” Lee Jong-yoon, a manager from Iconix Co. -- the creator of beloved homemade animations such as Pororo the Penguin -- said during a media event or

Faced with rising global competition and stagnant growth, SK Group, the country’s third-largest conglomerate has been searching for new, promising businesses to propel its continued growth in the long run.In gaining a sense of where the energy-to-telecom giant is headed for in the future, industry watchers typically turn to SK Holdings — the group’s parent company that steers the direction of SK’s 88 affiliates and subsidiaries.For now, SK Holdings’ vision for the group is five-pronged -- raisin

Chinese smartphone maker Huawei said Tuesday that it will launch its latest budget “H” smartphone in South Korea this week, targeting consumers looking for cheaper alternatives to expensive high-end smartphones.　Huawei’s “H” smartphone will be sold exclusively through local network carrier LG Uplus starting from Thursday. The new device, an upgraded version of Huawei’s budget Y7 smartphone introduced here last December, is priced at 242,000 won ($220). It comes in two colors -- black and white.H

South Korean prosecutors requested a warrant to arrest Lotte Group Chairman Shin Dong-bin on Monday as the criminal investigation into alleged corruption at Korea’s fifth-largest conglomerate nears its climax.The Seoul Central District Prosecutors’ Office said it has asked the local court to issue an arrest warrant for the group’s highest-ranking executive on charges of embezzling and misappropriating some 170 billion won ($154 million) over the past decade. Lotte Group chairman Shin Dong-bin ar

South Korean telecom company LG Uplus on Monday said that it has partnered with Ssangyong Motor and Tech Mahindra, the internet technology unit of Indian automaker Mahindra & Mahindra, for the development of new connected car technologies.　The three companies signed a memorandum of understanding in Seoul, agreeing to team up for the development of new platform technologies and network services for Ssangyong’s connected car business. L. Ravichandran, President & COO of Tech Mahindra (left); Yoon

Samsung Electronics Vice Chairman Lee Jae-yong ranked 18th on Bloomberg’s annual list of the “50 Most Influential People in the World of Finance” published Thursday.　Bloomberg’s 50 Most Influential list -- now in its sixth edition -- highlights prominent figures who command the most power and influence over global financial markets, as chosen by Bloomberg’s senior reporters and editors worldwide.Lee made the Bloomberg list alongside other chiefs of major tech companies such as Tesla Motors co-fo

A string of false consumer allegations that their Galaxy Note 7 devices caught fire is dampening Samsung Electronics’ efforts to restore its reputation and consumer trust hurt by faulty batteries prone to potential explosions.Since announcing a worldwide recall of its new large-size smartphone earlier this month, the South Korean tech giant has received a total of 26 false reports of Galaxy Note 7 fires, the company said Wednesday. Samsung’s Galaxy Note 7 (Yonhap)For 12 of the 26 reported cases,

French pharmaceutical giant Sanofi has filed a patent infringement lawsuit against US-based Merck & Co. over a Lantus biosimilar the US drugmaker developed with partial funding from Samsung Bioepis.　Sanofi on Monday sued Merck & Co. in the US District Court of Delaware, claiming that Merck’s international division Merck Sharp & Dohme infringed as many as 10 patents held by the French drugmaker for its blockbuster diabetes treatment Lantus and its injection device SoloStar.　The French company sai

South Korea’s newly-appointed Agriculture Minister Kim Jae-soo pledged to swiftly address the pressing issues facing the country’s agricultural sector in his first official appearance before the press on Tuesday.　“The industry’s top priorities as of now are stabilizing rice prices, dealing with the negative impacts of the new antigraft law and fortifying the country‘s reservoirs to better withstand earthquakes,” Kim told reporters during a press meeting held in Sejong City.　“We have created an e

Searching for new, promising businesses to propel their continued growth in the future, South Korea’s leading conglomerates have arrived at a common destination -- biotechnology.　Korea’s top tech giants Samsung Group and LG Group, alongside telecom-focused SK Group, have all set sights on biotechnology as a promising business of the future and are swiftly moving to drive up their presence in the field with hefty investments.　Biotechnology, which has applications across multiple industries, refer

TEAVANNA TAKES OFF IN KOREA -- Starbucks Korea employees celebrate the local launch of the company’s flagship tea brand Teavanna at a Starbucks outlet inside the Starfield Hanam shopping complex in Hanam, Gyeonggi Province on Sept. 6. Since its official launch, more than 1 million Teavanna drinks have been sold at Starbucks outlets nationwide as of last Friday, according to Starbucks Korea. (Starbucks Korea) TEAVANNA TAKES OFF IN KOREA -- Starbucks Korea employees celebrate the local launch of t

   Samsung Electronics will begin rolling out replacements of the Galaxy Note 7 in South Korea and the US this week, moving fast to restore consumer trust hurt by faulty batteries prone to potential explosions.　The new Galaxy Note 7 replacement devices, equipped with new batteries, will become available in Korea from Monday and in the US from Wednesday, according to Samsung’s latest announcement.　The ongoing recall affects Samsung Galaxy Note 7 smartphones released in 10 nations last month, incl