[Photo News] Hana hall of fame

Hana Financial Group Chairman Ham Young-joo (third from right), Vice Chairman Lee Eun-hyung (third from left), and other company officials unveil the Hall of Fame for top employees at Hana Global Campus in Cheongra, Incheon, Saturday. A total of 186 employees have been selected to honor their performance across sales, marketing and consumer satisfaction. The financial giant said the new launch aims to create a customer-first corporate culture. (Hana Financial Group)

Oct. 22, 2023

Samsung unveils next-generation memory solutions on Memory Tech Day

Samsung Electronics unveiled its newest chip technologies and products at its annual global event in San Jose, California, Friday, eyeing a key role in providing hyperscale artificial intelligence models. Under the theme of “Memory Reimagined,” about 600 people, including technicians, analysts and industry officials, attended this year’s Memory Tech Day to look into Samsung’s technologies in areas such as cloud, edge devices and automobiles. The tech giant unveiled its la

Oct. 21, 2023

[Photo News] Samsung chief checks R&D complex

Samsung Electronics Chairman Lee Jae-yong (right) reviews construction work at the site of the company's new R&D complex in Giheung, Gyeonggi Province, Thursday. Before the inspection, Lee held a management meeting on chip strategy at Samsung Electronics Semiconductor Research Center and urged executives to create a turning point for innovation as global uncertainties continue. (Samsung Electronics)

Oct. 19, 2023

LG Energy Solution's new residential ESS to hit US market

LG Energy Solution said Thursday it is set to launch a new residential energy storage system device lineup called LG enblock S in the United States next month. Installed with nickel, manganese and cobalt batteries, the LG enblock S is a device with high energy density that can provide a wide range of power sources for households. “With LG enblock S products, households can save energy and lower electric bills. They can also be used as a backup power source when the electricity is shut do

Oct. 19, 2023

Scholars shed light on late Samsung chief’s management initiatives

A week ahead of the third anniversary of the late Samsung Group Chairman Lee Kun-hee’s death, scholars gathered at a global academic conference in Seoul on Wednesday, looking back on his management initiatives introduced three decades ago. About 300 scholars from Korea and abroad attended the event hosted by the Korean Academic Society of Business Administration, reminiscing about the late Samsung patriarch’s business philosophy, leadership and contributions to Korean society. &ldquo

Oct. 18, 2023

Uncertainties alleviated for Samsung, SK chip plants in China: trade chief

South Korea’s Trade Minister Ahn Duk-geun said Tuesday that the US government’s recent decision to allow exports of its chip equipment to Samsung Electronics and SK hynix plants in China has greatly relieved uncertainties surrounding the top memory chip makers’ operation and investment there. “The latest achievement came after mobilizing all consultation channels centering on the presidential office and the Ministry of Trade, Industry and Energy, while closely communicati

Oct. 17, 2023

Doosan Robotics to supply chicken-frying robots to Kyochon

Doosan Robotics, South Korea’s largest collaborative robot manufacturer under the conglomerate Doosan Group, said Monday it will supply chicken-frying collaborative robots to fried chicken franchise Kyochon F&B. Under the deal, Doosan will install its first collaborative robot at Kyochon F&B headquarters in Osan, Gyeonggi Province within this month, with plans to do so at other Kyochon franchise stores nationwide. Doosan Robotics co-CEOs Park In-won and Ryu Jung-hoon, Kyochon F&

Oct. 16, 2023

[KH Explains] Amazon's cloud industry plans raise fears of monopoly in Korea

Not satisfied with its dominant position in the Korean market, Amazon Web Services, the cloud business arm of US tech giant Amazon, appears to be attempting to occupy an even greater presence here with an aggressive investment strategy, putting domestic companies under growing pressure. According to a recent announcement made by AWS in Seoul, it plans to invest 7.85 trillion won ($5.88 billion) in Korea’s cloud computing infrastructure by 2027. The amount is about triple its previous 2.73

Oct. 15, 2023

LG Innotek wins patents for EV charging technology

LG Innotek, an electronic component manufacturer under LG Group, said Sunday that it had earned three international patents in the field of electric vehicle charging. “To leap forward as a No. 1 global company, it is essential to systematically manage and secure international patents and intellectual property rights for core technology,” said Kim Jin-hyun, head of the intellectual property division of the company. “Through our continuous R&D efforts in the field of IP, we w

Oct. 15, 2023

LG CNS launches new AI platform for corporate clients

Information technology service provider LG CNS said Thursday that it has launched a generative artificial intelligence-based platform called Data Analytics & AI Platform Generative AI, or DAP GenAI, for its corporate clients. According to LG CNS, the new platform integrates the latest cutting-edge AI-based technologies including prompt engineering and large language model operations (LLMOps). It can be used upon installation on existing infrastructure, such as a company’s private serve

Oct. 12, 2023

[HIT Forum] 'Korea ready to become aerospace powerhouse'

The space economy is expanding and becoming increasingly global, and South Korea is leaping forward as a space powerhouse, a high-ranking official at the Korea Aerospace Research Institute said at the 2023 Korea Herald Humanity In Tech, or HIT Forum, held at The Shilla Seoul on Wednesday. With innovative technologies and massive investment, both governments and companies around the globe have secured space assets because they can directly impact the state’s survival in terms of security, a

Oct. 11, 2023

[HIT Forum] High schooler shares his space dream

Choi Se-yeong, a student at Gimhae Bunsung High School, delivered congratulatory remarks for The Korea Herald’s Humanity in Tech Forum as a representative of future scientists moving forward for the nation’s space industry. “I would like to first express my heartfelt gratitude for giving such an exceptional opportunity to speak at this huge forum,” said Choi at The Shilla Seoul on Wednesday. As part of an experiment last month, students at Aircraft -- an aerospace enginee

Oct. 11, 2023

Samsung Electronics forecasts Q3 rebound

Samsung Electronics predicted Wednesday that its operating profits in the July-September period would recover to exceed 2 trillion won ($1.5 billion) after months of efforts to elevate profitability amid memory chip slump. Samsung's third-quarter operating profits is estimated to hit 2.4 trillion won, a 77.9 percent plunge from a year ago, according to the company’s earnings guidance. The figure exceeded the 2.2 trillion won consensus by local analysts provided by market intelligence

Oct. 11, 2023

[HIT Forum] Hanwha at forefront of Korea’s space leadership

Hanwha Aerospace said Wednesday it plans to become a total services provider for outer space, ranging from space-based internet, future air mobility and cosmic data analysis platform. “Although the space sector is considered a high-risk business, it is a key infrastructure for sustainable growth of our future generation. With the combination of big data and artificial intelligence, the space economy is witnessing exponential growth,” said Lee Joon-won, senior vice president at Hanw

Oct. 11, 2023

[HIT Forum] Science minister welcomes HIT forum on space economy

Science and ICT Minister Lee Jong-ho on Wednesday made congratulatory remarks for The Korea Herald’s Humanity in Tech Forum, vowing to take the lead in ushering in Korea’s new space economy. “I give my sincere congratulations for The Korea Herald’s HIT Forum that discusses ‘space’ as its first topic for sharing vision on science and technology innovation,” said Lee in a pre-recorded video played during the forum held at the Shilla Seoul. “It is a t

Oct. 11, 2023

LG Electronics ups Q3 earnings guidance on upbeat demand

LG Electronics said Tuesday it expected its third quarter operating earnings for 2023 to climb 33.5 percent from a year before, amid the strong performance of its home appliance and vehicle component solutions units. LG estimated that its operating profit for the July-September period came in at 996.7 billion won ($738 million), compared with 746.6 billion won a year ago, according to the company’s earnings guidance. The home appliance maker’s earnings guidance for the July-September

Oct. 10, 2023

Uncertainties remain for Samsung, SK after US eases export controls

The decision by the US government to allow Samsung Electronics and SK hynix to supply chip equipment to their China factories indefinitely without separate approvals has given South Korean chipmakers some breathing room. Market watchers, however, believe that uncertainties in the semiconductor industry remain due to the ongoing US-China trade conflict. Despite Washington’s indefinite waiver given to the world’s two biggest memory chipmakers, they still face limitations in expanding t

Oct. 10, 2023

US eases export controls on chip equipment for Samsung, SK factories in China

The United States has decided to allow exports of its semiconductor manufacturing equipment to Samsung Electronics and SK hynix factories in China without a separate approval process, the presidential office said Monday, a much-needed relief to the Korean chipmakers. The US government has designated Samsung Electronics and SK hynix's chip factories in China as "verified end users (VEU)," which would reduce the licensing burden on them by allowing U.S. exporters to ship designated items

Oct. 9, 2023

[Photo News] Final pitch

LG Group’s advertisement for Busan’s bid to host 2030 World Expo is displayed at a Fnac store in Paris. The Korean conglomerate plans to carry out diverse promotional activities across the French capital until Nov. 28 when the Bureau International des Expositions holds a general assembly to decide the host country of the 2030 Expo. (LG Group)

Oct. 9, 2023

[Photo News] Busan Initiative

Hyundai Motor Group on Monday unveiled a new promotional video for Busan’s bid to host the 2030 World Expo. Titled “Busan Initiative with the Whole World,” the new video explores South Korea’s rise as an advanced economy from a war-torn country in the 1950s and Busan’s potential as the host of the 2030 Expo to inspire other nations for sustainable growth. (Hyundai Motor Group)

Oct. 9, 2023