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Sunday, January 21, 2018

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A research team led by Professor Oh Deok-kun of Konkuk University developed a substance similar to lipid regulating agents in human body using microbial enzyme.

Microbial Enzyme Drug for Diabetes

17 January 2018 - 11:00am
Choi Mun-hee

The Ministry of Science and ICT announced on January 16 that a research team led by Professor Oh Deok-kun of Konkuk University developed a substance similar to lipid regulating agents in human body using microbial enzyme and confirmed the potential as a drug for diabetes.

The research team successfully compounded substances, such as hepoxilin and trioxilin which are lipid regulating agents that control glucose metabolism with a minute amount of them existing in human body. Lipid regulating agents is a substance that is involved in various biological activities in the...

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Beef had the highest amount of imports with US$2.46 billion (2.62 trillion won), followed by pork with US$1.64 billion (1.74 trillion won) last year.

Increasing Food Import

17 January 2018 - 10:45am
Choi Mun-hee

South Korea imported more than US$25 billion (27 trillion won) worth of food last year, up 7 percent from a year earlier. The biggest shipment in monetary terms coming from the United States and in quantity terms from China.

The Ministry of Food and Drug Safety announced on January 16 that the nation’s food imports in terms of amount stood at US$25.09 billion (26.69 trillion won), weight at 18,293,759 tons and case at 672,268 last year. The figures in quantity and case terms increased 6 percent 7.5 percent, respectively, compared to a year ago.

Imported foods are categorized...

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The total sales of graphics cards increased nearly 88 percent in December last year compared to a year earlier.

Thanks to Cryptocurrency Frenzy

17 January 2018 - 10:30am
Yoon Yung Sil

Due to a frenzy in the crypto investment market, there was a sudden rise in demand for high-performance graphics cards, which are used to mine digital currencies.

According to price comparison site eNuri.com on January 15, the total sales of graphics cards increased nearly 88 percent in December last year compared to a year earlier. As the price of digital currencies surged, the lowest price of graphics cards has also shown a sharp increase from the end of last month. In particular, high-performance graphics cards, which are said to have high profitability in cryptocurrency mining...

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Korea’s ICT exports totaled US$197.6 billion and ICT imports were US$102.1 billion so the ICT sector recorded a surplus of US$95.6 billion last year.

ICT Export in 2017

17 January 2018 - 9:45am
Michael Herh

Last year, Korea’s ICT exports reached the US$190 billion level for the first time and an all-time high by renewing the highest monthly record for the 11th consecutive month.

According to the Ministry of Trade, Industry and Energy, ICT exports totaled US$197.6 billion and ICT imports were US$102.1 billion so the ICT sector recorded a surplus of US$95.6 billion last year. Exports grew 21.6 percent year on year, chalking up double-digit growth for the first time in seven years since 2010 (a 27.3-percent jump from a year earlier).

By item, semiconductor exports (US$99.68 billion...

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Foreign limited liability companies (LLCs) operating in South Korea are expected to disclose information on their sales or profits from 2020 fiscal year.

Subject to Audit

17 January 2018 - 9:45am
Choi Mun-hee

A limited liability company (LLC) with a certain amount of sales and a considerable number of employees is required to conduct an external audit from the 2020 fiscal year. Accordingly, foreign LLCs operating in South Korea, which haven’t disclosed their accurate sales or profits such as Google, Apple and Chanel, are expected to disclose related information.

The Financial Services Commission (FSC) held an accounting reform task force meeting on January 16 to discuss detailed ordinances, including subject of external audit, periodic auditor designation system and listed firms’ auditor...

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Upbit ranked first in the world in terms of 24-hour crpytocurrency trading volumes with 4.92 trillion won (US$4.62 billion),

Proving Overheated Speculation

17 January 2018 - 9:30am
Yoon Yung Sil

South Korea’s largest cryptocurrency exchange Upbit disclosed its amount of daily transactions on January 16 for the first time. CoinMarketCap, arguably the most prominent global index of cryptocurrency prices, said that Upbit ranked first in the world in terms of 24-hour trading volumes with 4.92 trillion won (US$4.62 billion), according to the data received from Upbit. As another domestic cryptocurrency exchange Bithumb also took third place, South Korea’s speculative investment in digital currency was proved with the figures.

Upbit hasn’t been officially disclosing its trading...

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Samsung Electronics is reportedly planning to significantly reduce its reliance on US telecom modem chips for 5G smartphones.

Game Changer?

17 January 2018 - 9:15am
Michael Herh

Samsung Electronics will take the wrap off a 5G telecommunication modem chip prototype for smartphones within this year. A change is expected in the modem chip market led by Qualcomm.

It is said that Qualcomm has the most advanced company in the development of 5G modem chips. Recently, latecomer Intel is closely trailing Qualcomm. There is also a prospect that Samsung Electronics will form a three-runner race. Samsung Electronics is reportedly planning to significantly reduce its reliance on US telecom modem chips for 5G smartphones.

According to industry sources on January...

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By Michael Herh Samsung Electronics forms a mammoth-sized academic-industrial cooperation project to develop 17 core technologies to ultimately win global competition in neuromorphic chip market.

Neuromorphic Chip Development

17 January 2018 - 9:00am
Cho Jin-young

Samsung Electronics joined forces with leading Korean universities such as Seoul National University and the KAIST to develop a neuromorphic chip, a next-generation artificial intelligence (AI) semiconductor that resembles the human brain. The neuromorphic chip is a next-generation semiconductor that imitates human brain nerves. The chip can realize artificial intelligence functions such as deep running, and has an excellent non-standardized data processing capability such as images and sounds compared to conventional semiconductor. The chip consumes one 100 millionth of electric power...

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Once the regulations on gene therapy are minimized, South Korean companies can conduct gene therapy research without limitation on the types of diseases.

Turning into Negative System

16 January 2018 - 11:45am
Choi Mun-hee

The South Korean government is planning to minimize its regulations on gene therapy and organ transplantation. Under the circumstances, research and commercialization of various types of biotechnology, such as CRISPR gene scissors, are expected to be accelerated.

Gene scissors are used to cut and correct certain target genes without touching the others. With this cutting-edge biotech, cancers, AIDS and various genetic diseases can be treated fundamentally. According to industry sources, the size of the global gene scissors market is estimated to increase from US$1.845 billion to US$...

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Soju products such as Chamiseul Fresh of Hite Jinro showcased in a duty free shop in Hong Kong’s Chek Lap Kok International Airport.

Soju Going Global

16 January 2018 - 11:45am
Michael Herh

Hite Jinro is putting a spur to the globalization of Soju, a Korean liquor, by succeeding in launching Soju such as Chamiseul at duty free shops in Hong Kong’s Chek Lap Kok International Airport, one of the three major international airports in Asia.

According to Hite Jinro on January 15, Chek Lap Kok Airport used by 35 million passengers per year has eight alcohol and cigarette stores. In November of last year, the China Duty Free Group (CDFG) acquired the right to operate duty-free shops in the airport and is currently implementing partial renewal work to open them this May.

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