[Photo News] Convertible Laptop

Samsung Electronics on Wednesday unveiled its Galaxy Book2 Pro 360, a 2-in-1 laptop with a 360-degree hinge that flips from PC to tablet in a snap, while offering a touch screen and S Pen. The product is equipped with the Qualcomm Snapdragon 8cx Gen 3 processor. It rolls out on Jan. 16.

Dec. 28, 2022

Samsung CEOs hold rare meeting amid recession woes next year

South Korea’s largest conglomerate Samsung Group recently held a rare gathering of CEOs of all affiliates in an apparent move to ramp up preparedness for a global economic downturn next year coupled with falling chip prices, unfavorable currency rates and further rate hikes, according to industry sources on Wednesday. The high-level meeting was convened at the Samsung Electronics Leadership Center in Yongin, Gyeonggi Province on Monday, according to industry sources who wished to remain

Dec. 28, 2022

[Newsmaker] Danuri successfully enters lunar orbit

South Korea’s first lunar mission Danuri has successfully entered lunar orbit, the Ministry of Science and ICT and the Korea Aerospace Research Institute said Wednesday. With Danuri’s successful entrance into lunar orbit, South Korea has become the seventh country in the world to have capability to explore the moon. Danuri, also known as the Korea Pathfinder Lunar Orbiter, began circling around the moon at the targeted orbit altitude of some 100 kilometers above the lunar surface on

Dec. 28, 2022

[Photo News] Futuristic cockpit

LG Display said Wednesday it will showcase a futuristic digital cockpit using plastic-based organic light-emitting diode panels at the upcoming CES trade show in Las Vegas next month. Themed around “Advanced Mobility Lifestyle,” the display maker plans to set up an exhibition booth exclusively for automotive clients, including carmakers and parts makers. (LG Display)

Dec. 28, 2022

LG to debut ThinQ UP upgradable appliances in US

LG Electronics said Tuesday it is launching its “upgradable” home appliance brand LG ThinQ UP in overseas markets, starting with the US. Debuted as UP Appliance in Korea in January, the brand allows customers to add new features to their existing LG appliances through software updates. Currently, the product lineup consists of 24 different appliances, including washing machines, refrigerators, dryers and dishwashers. As of December, over 120 upgrades are available in Korea. Largely b

Dec. 28, 2022

Genshin Impact-themed Samsung foldable phones sell out in 14 minutes

Genshin Impact, an open-world action role-playing game, or RPG, has demonstrated its popularity once again as the game-inspired Samsung Electronics foldable smartphones and earbuds sold out shortly after they went on sale last week. According to Chinese game and animation studio HoYoverse, the 100 units of the Genshin Impact edition of the Galaxy Z Fold 4 and the 200 units of the game-themed Buds 2 Pro earbuds were all gone only 14 minutes after they became available for purchase on Samsung'

Dec. 28, 2022

Bold goals set to tackle trade loss next year

South Korea on Tuesday laid out a set of bold goals to support private-sector-led growth in 2023, promising financial aid to achieve a trade surplus and attract foreign investment in a bid to minimize the impacts of a global economic slowdown. While 2023 is expected to be challenging for the economy amid growing uncertainties in the global market, the government said it will achieve $680 billion in exports and attract more than $30 billion of foreign investment, while investing some 100 trillion

Dec. 27, 2022

Samsung drives 63% surge in foldable phone sales in Q3

Global shipments of foldable smartphones shot up more than 60 percent in the third quarter this year, despite the stagnant smartphone market, owing to high sales of Samsung Electronics’ foldable devices, according to industry tracker Counterpoint Research on Tuesday. From July to September, foldable smartphone shipments worldwide surged about 63 percent on-year to 6.08 million units. Although the global smartphone market posted stagnant sales, foldable items accounted for 2 percent of th

Dec. 27, 2022

Hyundai Heavy Industries renames itself HD Hyundai

Hyundai Heavy Industries Group said Monday it is rebranding as HD Hyundai, opening a new chapter in its 50-year history as the nation’s top shipbuilder. The group also unveiled its new mission for the future -- to “pursue innovation that leads the era, and constantly challenge itself to pioneer the future of humanity” -- during its 50th anniversary ceremony held at a research and development center in Pangyo, Gyeonggi Province. It presented a vision for each of its three key bu

Dec. 26, 2022

'Half-baked' chips act falls short of drastic corporate tax cuts

South Korea last week passed a revision bill being deemed the "Korean chips act," expanding tax benefits for investments in the semiconductors industry. But the bill has done little to appease stakeholders in the industry, who said the increased tax cuts are too little to boost their competitiveness against other countries that have adopted their own chips laws. The National Assembly on Friday passed the revision bill to the Restriction of Special Taxation Act, which raised the corpora

Dec. 25, 2022

Celltrion submits FDA application for CT-P13 SC

Celltrion announced Friday that it completed submission of a biologics license application for subcutaneous version of biosimilar to anti-inflammatory medicine Remicade the US drug regulator. CT-P13 SC, or Remsima SC, is Celltrion’s subcutaneous formulation of the company’s infliximab biosimilar referencing Johnson & Johnson’s rheumatoid arthritis treatment Remicade. CT-P13 SC is the world’s first SC formulation of biosimilar infliximab, which has earned sales approva

Dec. 23, 2022

LegoChem Biosciences inks W1.6t out-licensing deal with Amgen

LegoChem Biosciences, a South Korean drug company, announced on Friday that the company signed a technology transfer agreement with US multinational biopharmaceutical company Amgen to transfer antibody-drug conjugate technology. The contract could potentially be worth 1.6 trillion won ($1.2 billion), the Korean firm stated in a public disclosure. ADC is a medicine that can deliver highly potent chemotherapy agents to kill cancer cells. Under the contract, LegoChem Biosciences will transfer an an

Dec. 23, 2022

Two Korean firms eye Lucentis' W32b market with biosimilars

Samsung Bioepis and Chong Kun Dang are expected to launch their biosimilar versions of Lucentis, an age-related macular degeneration, or AMD, medicine sold by Novartis and Roche, according to industry sources as reported in local media on Thursday. AMD is an eye disease that can blur a patient's central vision. In terms of sales, the local market for AMD medicines is estimated to reach around 32 billion won ($25 million) as of last year, while the global market is estimated to be worth 4.4

Dec. 22, 2022

[Photo News] Color of 2023

LG Electronics introduces "viva magenta," the color selected by Pantone as the color of 2023, for its chameleon four-door fridge MoodUp in the high-end Objet Collection. The tech giant added the new color to the self-illuminating doors of MoodUP, which uses light-emitting diodes. With the addition, the model is able to light up in 23 colors, according to the company.

Dec. 22, 2022

LG Innotek to unveil most advanced optical zoom module for smartphones

LG Innotek said Thursday it will unveil the most advanced ultra-compact optical zoom camera module for smartphones, at the upcoming Consumer Electronics Show in Las Vegas early next month. The electronic parts supplier said it has succeeded in developing an optical telephoto zoom camera module that enables telephoto cameras for mobile devices to zoom four to nine times without causing image degradation. The new camera module is the world's first to apply the zoom lens mechanism of a mirrorl

Dec. 22, 2022

SK to offer glimpse of daily life in carbon-neutral future

SK Inc., the strategic investment arm of SK Group, said Wednesday it will present a glimpse of the future drawn by its “carbon-neutral” technologies at the upcoming Consumer Electronics Show in Las Vegas early next month. SK Inc.’s showroom at the trade show will exhibit its envisioned energy life cycle encompassing production to consumption, that cuts the energy usage with its advanced eco-friendly technologies. Their technologies will include a next-generation sodium-cooled f

Dec. 21, 2022

Hyundai Mobis teams up with Israel’s Ottopia for autonomous driving solution

South Korean auto parts maker Hyundai Mobis said Wednesday it has teamed up with Israeli teleoperations startup Ottopia to develop remote mobility assistance solutions for autonomous vehicles. The RMA solution is a technology that allows mobility companies to remotely control the movements and routes of uncrewed vehicles. The technology is especially effective in responding to emergency situations in real time both for industrial and commercial vehicles. The company said it is developing the tec

Dec. 21, 2022

LG chief stresses customer values in New Year’s message

LG Group Chairman and CEO Koo Kwang-mo urged the company's staff and executives to take the lead in creating customer-friendly values, calling them “customer value creators,” in his New Year’s speech for 2023, Tuesday. Delivering the video speech via email to staff around the world, Koo said employees should promote the "virtuous cycle" of growth -- where staff members’ personal growth create touching experiences for users, which in turn accumulate to suppo

Dec. 20, 2022

Samsung chief heading to Vietnam to inspect new R&D center

Samsung Electronics Chairman Lee Jae-yong is expected to head to Vietnam this week to celebrate the completion of the company’s new research and development center, according to industry sources on Tuesday. Upon the meeting, sources say, the Samsung chief is also likely to hold a meeting with Vietnamese President Nguyen Xuan Phuc. The ceremony is scheduled to be held on Thursday in Hanoi, with key officials of the Vietnamese government in attendance. In order to attend the ceremony, Lee ca

Dec. 20, 2022

Samsung, SK hynix to face grim Q4 due to weak demand: report

South Korea's leading semiconductor makers Samsung Electronics and SK hynix face a grim outlook in their fourth quarter sales due to sluggish demand for memory chips, a report said on Monday. In a report, Daol Investment and Securities forecast that Samsung Electronics, the world's largest memory chip and mobile phone maker, would log sales of 73.2 trillion won ($56.2 billion) in the fourth quarter this year, down 4.4 percent than the previous year. Operating profit would plunge by 4

Dec. 19, 2022