Federation of Korean banks appoints NH Financial chief as new head

NH Financial Group Chairman Kim Kwang-soo has officially been tapped to lead the Korea Federation of Banks, a representative body of commercial banks, officials said on Nov. 27. 　The KFB board of directors unanimously approved Kim’s nomination as its 14th chairman during a general meeting held early in the morning.  　The appointment came after Kim was picked as the sole candidate to be KFB chief Tuesday, among seven candidates initially recommended for the post. 　Kim’s t

News of potential deal with Tesla boosts Doosan Solus stocks

Doosan Solus stocks rose to 49,400 won ($44.70) on Friday, a 6.7 percent increase from a day prior, following a local news report that the company is in talks with Tesla to supply electric copper foil for vehicles in Europe. 　According to the news report, the material solutions unit of Doosan Group is expected to sign an agreement on general terms and conditions to provide copper foil for Tesla electric vehicles in Europe. The exact size and the length of the contract will be decided after the

Hanwha Systems wins $40m space radar development deal

Hanwha Systems said on Nov. 27 that it has won a deal worth 45 billion won ($40.7 million) to develop a next-generation space radar that can detect and track space objects with precision.  　According to the defense and information technology service unit of Hanwha Group, it has won the Defense Industry Technology Center’s research and development project for the space radar worth 45 billion won. 　For the next five years, Hanwha Systems will develop three core technologies includ

Business groups seek next leaders as terms end soon

South Korea’s major business organizations will see the terms of their incumbent chiefs end early next year, with attention being paid to who their successors will be. 　The term of Korea Chamber of Commerce and Industry Chairman Park Yong-maan, Korea International Trade Association Chairman Kim Young-ju and Federation of Korean Industries Chairman Huh Chang-soo will end in March. 　Each business group plans to hold a general meeting early next year to elect its next leader. 　For the KC

Pernod Ricard brings RTD craze to Korea

PRK managing director on introducing canned espresso martini in Korea via coffeehouse chain

Dansaekhwa master Ha Chong-hyun makes best of adversity

Pioneer of abstract art in Korea urges young people to think critically, to love Korean culture

Customs service promotes global program for safe, risk-free trade

Customs chief says Korean companies can gain competitive edge on global stage via certification

S. Korea vows to open an era of ‘digital IP’: IP office chief

In line with the digitalization of industries accelerated by the COVID-19 pandemic, the chief of the nation’s intellectual property office vowed Tuesday to “open an era of digital IP” via systemic upgrades. “In order to resolve key issues tied to protection of core values of the digital era, we will update laws that can bolster IP protection in the process of data manufacturing, transfer and utilization and address issues surrounding creative rights of inventions by art

Of all foreign-owned land in Korea, Americans own 52%

SEJONG -- Foreign ownership of South Korean land has continued to increase over the past few years, data from the Ministry of Land, Infrastructure and Transport showed. As of December 2019 foreigners owned 248.6 million square meters of land, or 248.6 square kilometers, which is the latest figure available. This was a 3 percent increase from a year earlier in terms of land owned, as opposed to the value of the real estate. Compared with December 2016, when the figure was 233.5 million square m

Is COVID-19 like the flu?

Perhaps one of the most frequently posed questions since the pandemic’s onset is how the new virus may compare to seasonal influenza. Infectious disease specialist Dr. Oh Myoung-don, who leads the National Medical Center’s committee for clinical management of emerging infectious diseases, said during a press conference Tuesday that complications from “COVID-19 might not be more severe than the flu.” “Certain cardiovascular and neurological complications have been

SsangYong’s Rexton returns younger, stronger

New Rexton adopts bold changes in appearance and driving assistance programs as family SUV

Jeju has highest proportion of registered foreign residents for 4th year

Of Korea’s 17 areas, Seoul stays at 4th, Sejong at 12th