[Photo News] LG's auto achievements

LG Electronics employees celebrate the 10th anniversary of its vehicle solutions business at the ceremony held at LG Sciencepark in Seoul on Thursday. The tech giant set up the automotive business unit in 2013 which turned to a profit for the first time in the second quarter of 2022. As of last year, the unit’s accumulated orders have reached 80 trillion won ($60 billion). The company aims to become a leading player in the fields of infotainment solutions, electric vehicle powertrains and

June 29, 2023

[Best Brand] Emro seeks to lead innovation in supply chain management

South Korean supplier relationship management vendor Emro has been leading the digitalization of the purchasing process between companies and their suppliers, improving accuracy and efficiency in overall procurement operations. Founded in 2000, Emro has been conducting next-generation procurement system projects with leading companies in various industries such as Samsung, Hyundai Motor, LG and SK. Through these projects, Emro has incorporated specialized purchasing processes and functions tailo

June 28, 2023

[KH explains] Fear of being short fuels early puberty treatment boom

South Korea’s precocious puberty treatment market has seen rapid growth in recent years, as much as parents’ growing interest in children’s height has led to shortages of the therapies. Precocious puberty treatment is prescribed to children whose puberty begins before age 8 in girls and before age 9 in boys. Children with early puberty may grow quickly at first compared to their peers, but they often stop growing earlier than usual, causing them to be shorter than average later

June 28, 2023

Researchers develop waterproof, transparent, flexible OLED

Korean researchers have developed an organic light-emitting diode display that can emit light while showing the background under water by utilizing MXene nanotechnology, Korea Advanced Institute of Science and Technology said Wednesday. MXenes indicate a class of two-dimensional inorganic compounds comprising transition metal carbides, nitrides or carbonitrides. “We expect this study to not only serve as a guideline for MXene’s application in various electronic devices, but also be u

June 28, 2023

MWC Shanghai returns as in-person event after pandemic hiatus

SHANGHAI -- The Mobile World Congress Shanghai, the Asia edition of the world’s largest mobile communications industry trade show, has returned as an in-person event on Wednesday after a two-year hiatus due to strict COVID-19 restrictions in China. This year’s event, which runs through Friday at the Kerry Hotel Pudong and Shanghai New International Expo Center in Shanghai, kicked off under the theme of “velocity” and focused on three major areas -- 5G transformation, the

June 28, 2023

LG’s market cap triples under Koo's leadership

LG Group, South Korea’s fourth largest conglomerate, has seen its market capitalization triple and sales jump about 30 percent under the leadership of Koo Kwang-mo, who marks his fifth anniversary as the group's chairman on Thursday. With bold decisions to restructure the business portfolio and concentrate investment in key areas of automotive solutions and energy, and future technologies, Koo appears to be solidifying his leadership after he took office on June 29, 2018, following th

June 28, 2023

Samsung unveils foundry road map to take on TSMC

Samsung Electronics, the world’s largest memory chipmaker, on Tuesday unveiled a new foundry business road map, saying it will expand the adoption of the 2-nanometer manufacturing technology in phases to mobile applications by 2025, high-performance computing by 2026 and automotive chips by 2027. The bold plan comes as Samsung, a distant No. 2 in terms of foundry sales after Taiwan Semiconductor Manufacturing Co., is investing heavily to boost its burgeoning foundry business and narrow the

June 28, 2023

[Photo News] Samsung Gangnam unveiled

Samsung Electronics on Wednesday held a media tour of its new five-story flagship store, called Samsung Gangnam, in southern Seoul before Thursday’s official opening. Boasting 2,000 square-meter floor space, the facility allows visitors to experience and purchase Samsung’s latest mobile devices and their limited editions as well as join cultural and self-enrichment programs. Calling it “a playground for MZ generation,” Samsung said it will ramp up efforts to better commun

June 28, 2023

Daewoong Pharmaceutical submits NDA to China for Fexuclue

Daewoong Pharmaceutical said Tuesday that the company has submitted a new drug application for its gastroesophageal reflux treatment, Fexuclue, to China’s drug agency. Fexuclue was officially launched in July 2022 in Korea as the country’s 34th new drug. Fexuclue is also the only P-CAB drug for gastritis indications in the country. Daewoong Pharmaceutical has submitted its NDA to China's National Medical Products Administration based on its clinical trial of the tablet-type drug

June 27, 2023

Japan restores South Korea to export 'whitelist' after 4 years

Japan is putting South Korea back on its “whitelist” of trusted trading partners, marking the end to a trade dispute that had dragged on for four years, as the two sides have renewed a commitment to improve bilateral economic ties. Japan’s Ministry of Economy, Trade and Industry announced Tuesday it has decided to redesignate Korea as a "Group A" country, returning to Seoul the preferential export treatment it had enjoyed until 2019. “The Republic of Korea will

June 27, 2023

Korean firms fight talent exodus as chip tech war intensifies

A former Samsung employee was banned from moving to US rival Micron Technology after the Korean tech giant took the issue to court amid growing concerns over illicit tech transfer. Seoul Central District Court on Sunday accepted Samsung Electronics’ petition for an injunction to ban a key employee from moving to US chip rival Micron Technology just three months after quitting the Korean chipmaker. "DRAM technology is designated as national strategic technology and protection of the te

June 26, 2023

[Contribution] Strategies to secure Korea's chip supremacy

By Koo Hyuk-chae Director-general of R&D policy bureau Ministry of Science and ICT Starting with the invention of the transistor at Bell Labs in the United States in 1947, semiconductors have constantly advanced and are now embedded in all devices that require computing power. Last year, the global semiconductor market size amounted to approximately $640 billion, of which 20 percent, or $130 billion, was occupied by the Korean semiconductor industry. The semiconductor industry is the No. 1

June 26, 2023

[Photo News] Samsung chairman celebrates 55th birthday in Vietnam

Samsung Electronics Executive Chairman Lee Jae-yong celebrated his birthday Friday during his trip to Vietnam along with President Yoon Suk Yeol. Lee turned 55. In a dinner event hosted by Vietnamese President Vo Van Thoung at International Convention Center in Hanoi, Vietnam, Lee was greeted with a birthday cake and musical performance. Samsung Electronics runs plants for smartphones that sell in about 130 countries, as well as for home appliances. It also opened a research and development cent

June 24, 2023

Korean companies eye new business opportunities in Vietnam

Accompanying South Korean President Yoon Suk Yeol on his state visit to Vietnam as part of the presidential delegation, South Korean companies were seen ramping up their business ties in the Southeast Asian country. In a banquet inviting his largest economic delegation on Thursday, Yoon urged the business leaders to take the lead to explore new business opportunities with Vietnam, which is South Korea's third-largest trading partner. "New opportunities are being created for South Korea

June 23, 2023

Apple R&D accelerator discuss smart manufacturing with Korean SMEs

Apple's first manufacturing research and development accelerator discussed the impacts of artificial intelligence and machine learning in smart manufacturing with small and medium-sized businesses in South Korea, the iPhone maker said Friday. Apple Manufacturing R&D Accelerator held its first Smart Manufacturing Forum in Pohang, North Gyeongsang Province, for two days from Wednesday, inviting hundreds of guests from SMEs, industry experts and academia to exchange insights on smart manuf

June 23, 2023

SK pharmteco completes new plant, doubles viral vector production capacity

SK pharmteco, a global contract development and manufacturing organization under South Korean conglomerate SK Group, said Friday that its French subsidiary Yposkesi has completed construction of its second manufacturing facility for cell and gene therapies (C&GT) in Europe. Yposkesi’s second C&GT manufacturing site sits on 5,000 square meters of land in the Genopole campus, the largest biotech cluster in France. With the addition of the second site, Yposkesi’s biomanufactur

June 23, 2023

SK hynix introduces data center memory solutions at HPE conference

SK hynix, the world’s third-largest memory chipmaker, said Friday it introduced its next-generation memory technologies and products at an IT conference in the US. The Korean tech giant said it joined the HPE Discover 2023 event held by Hewlett Packard as an exhibitor, showcasing its industry-leading memory solutions for data centers. The annual conference was held in Las Vegas for three days starting Tuesday. SK said it showcased PS1010 E3.S, a high-performance Peripheral Component Inte

June 23, 2023

Korea Inc. heads to Vietnam to strike deals

With South Korean President Yoon Suk Yeol taking his largest economic delegation involving top conglomerate chiefs on a state visit to Vietnam on Thursday, anticipation is growing on new joint business opportunities their trip will create for the two countries. For the three-day state visit, Yoon has formed his largest-ever delegation to accompany him, consisting of 205 entities -- 24 conglomerates, 28 mid- and small-sized companies, six economic lobbying groups, six economic associations and th

June 22, 2023

KT eyes W1.3tr annual sales in AI by 2025

South Korean telecommunications giant KT Corp. said Wednesday it will diversify its artificial intelligence-related business portfolio to post 1.3 trillion won ($1 billion) in annual sales in the burgeoning sector alone by 2025. “KT has been newly focusing on three AI sectors -- robotics, health care and education,” said Song Jae-ho, a senior executive vice president at KT, during a press conference in Seoul. “We believe that these three areas can help ease ongoing social issue

June 21, 2023

Big 4 chaebol chiefs back Busan’s Expo bid in Paris

South Korea’s top conglomerate chiefs were to meet with French President Emmanuel Macron in Paris on Wednesday, as they are in Paris to promote Busan's bid to host the 2030 World Expo. According to industry sources on Wednesday, the four chiefs of Korea’s top conglomerates -- Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Euisun and LG Group Chairman Koo Kwang-mo -- arrived in Paris Monday to kick off their Paris tri

June 21, 2023