IFA 2022: What to expect from Samsung, LG

BERLIN -- IFA, Europe’s biggest tech show, is being held in person again after two years of pandemic disruptions, with South Korean tech rivals Samsung Electronics and LG Electronics among the largest exhibitors. The annual gathering will kick off in Berlin on Friday for a five-day run. After years of virtual business meetings and product launches, there may be skepticism about attending a giant face-to-face business event in this enduring pandemic era. But the IFA is ready to host more

TechnologySept. 1, 2022

LG Innotek updates website as part of digital marketing scheme

Electronic components manufacturer LG Innotek said Thursday it has restructured its website to improve consumer experience and to maximize customer satisfaction. Visitors to the website can experience diverse contents ranging from technology, products, and recruitment information. Customers can subscribe to the company newsletter and may leave any questions they have about the company and its products. The most notable addition, according to the company, is the website’s new virtual show

IndustrySept. 1, 2022

Posco, India’s Greenko to work together on hydrogen business

Posco Holdings said Thursday that it has clinched a deal with India’s second-largest renewable energy company Greenko to cooperate in green hydrogen and ammonia production in India, as part of the steelmaker’s push toward eco-friendly energy business. Green hydrogen refers to hydrogen generated by renewable energy or from low-carbon power. It has significantly lower carbon emissions than grey hydrogen, which is produced by steam reforming of natural gas. Green ammonia, a clean fuel

IndustrySept. 1, 2022

Red flag raised as Korea suffers all-time high trade deficit

SEJONG/SEOUL -- South Korea recorded an all-time high trade deficit last month in the wake of skyrocketing import prices of raw materials and relatively low export growth, raising a red flag for Asia’s fourth-largest economy, which is heavily dependent on exports for its growth. According to the Ministry of Trade, Industry and Energy, the nation’s imports increased by 28.2 percent on-year to $66.14 billion in August, while exports increased by just 6.6 percent to $56.67 billion. Th

EconomySept. 1, 2022

Seoul stocks dip over 2% on US rate hike woes; Korean won at 13-year low

South Korean stocks fell more than 2 percent Thursday on deepening concerns over aggressive rate hikes by the US Federal Reserve. The Korean won slid to a 13-year low against the US dollar. The Korea Composite Stock Price Index (KOSPI) lost 56.44 points, or 2.28 percent, to close at 2,415.61. Trading volume was moderate at 563.43 million shares worth 8.15 trillion won ($6.12 billion), with decliners outpacing gainers 827 to 78. Institutions and foreigners shed shares worth 833.69 billion won and

MarketSept. 1, 2022

SK ecoplant invests $50m in US battery recycling firm

SK ecoplant, the engineering and construction unit under SK Group, said Thursday that it has clinched a $50 million deal to become the largest shareholder of US battery materials recycling firm Ascend Elements. The latest share purchase is part of SK ecoplant’s investments to foray into North American and European markets, according to the company. Established in 2015 in Massachusetts, Ascend Elements is a manufacturer of advanced battery materials using elements reclaimed from discarde

IndustrySept. 1, 2022

[Newsmaker] New jobs for tycoons’ Samsung, SK chiefs to promote Busan Expo

South Korea’s two most influential business leaders -- Samsung Electronics Vice Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won -- are set to take a rather public role in promoting the country’s bid to host the 2030 World Expo in Busan. According to local reports quoting a source at the presidential office, Lee and Chey will be named presidential envoys for Korea’s World Expo bid and that they are set to visit the UK and Japan, respectively, in their new roles. Lee

IndustrySept. 1, 2022

SK On hires COO from memory chip affiliate

South Korean lithium-ion battery maker SK On said Thursday it has hired former SK hynix President Jin Kyo-won as chief operating officer. Jin, who took the newly created role Thursday, will oversee the operation optimization, marketing, overseas manufacturing, research, purchase and next-generation technology of Korea’s second-largest battery manufacturer by global market share. Previously, Jin, a career engineer, had served as the chief product and production officer of SK hynix, the wo

TechnologySept. 1, 2022

Samsung's OLED gaming monitor, new industrial tablet to debut in Europe

Samsung Electronics' new consumer electronics products like monitors and tablets are set to debut in Europe later this year, as Europe's biggest tech show IFA 2022 comes to a close. On Thursday, Samsung unveiled the plan for the release of newest gaming monitor Odyssey OLED G8 and rugged industrial tablet Galaxy Tab Active4. The Odyssey OLED G8 is Samsung's first gaming monitor that mounts a flat-panel display using organic light-emitting diode technology to achieve color accuracy and express

TechnologySept. 1, 2022

Naver aims to expand metaverse presence in Thailand

Naver Z, the South Korean IT giant’s subsidiary that runs the Zepeto metaverse platform, has joined hands with Thailand’s largest telecommunication services provider to expand the virtual world’s ecosystem in the Southeast Asian nation, Naver said Thursday. Naver Z and True Corp. signed a memorandum of understanding for a strategic partnership between the two firms at True’s Bangkok office on Wednesday. “Through this partnership, we will look to lead Thailand into

TechnologySept. 1, 2022

Fractional share trading launch in Korea likely to be delayed

South Korea’s plan to launch fractional share trading this month is likely to be delayed, with authorities struggling to decide on which tax framework to adopt for the system, officials said Thursday. The struggle comes as Asia’s fourth-largest economy braces for changes in tax systems tied to stock and cryptocurrency trading. Financial authorities are currently in the process of figuring out whether to impose tax on fractional share trading as regular “stock trades” or

BusinessSept. 1, 2022

Samsung heir Lee Jae-yong to serve as presidential envoy for World Expo bid

Samsung Electronics Vice Chairman Lee Jae-yong will serve as a presidential envoy for South Korea's bid to host the 2030 World Expo in Busan, a presidential official said Thursday. Lee has been cited as among the top business executives joining the government's campaign to bring the event to the southeastern city. "Regarding Samsung Electronics Vice Chairman Lee Jae-yong, I heard that we decided to send him as a special envoy for the hosting of the expo in Busan," the officia

IndustrySept. 1, 2022

S. Korea's economy grows 0.7% in Q2, unchanged from earlier estimate: BOK data

  South Korea's economy grew at a faster pace in the second quarter of this year as private spending rose amid eased coronavirus restrictions despite shrinking exports, central bank data showed Thursday. The country's gross domestic product (GDP) -- a key measure of economic growth -- increased 0.7 percent in the April-June period from three months earlier, according to the preliminary data from the Bank of Korea (BOK). The growth slightly quickened from the previous quarter's 0.6 percent r

EconomySept. 1, 2022

Samsung, SK group leaders likely to visit Britain, Japan to promote Busan World Expo bid

Top executives of the Samsung and SK groups are expected to visit Britain and Japan this month to promote South Korea's bid to host the 2030 World Expo in the southern city of Busan, sources said Thursday. Samsung Electronics Vice Chairman Lee Jae-yong is reportedly planning to visit Britain later this month after the appointment of Britain's new prime minister. SK Group Chairman Chey Tae-won is expected to visit Japan this month also as part of the government's World Expo bid cam

IndustrySept. 1, 2022

[해커스 TOEIC] 토익 점수 Up 단어, Part 5 문제

2) 파트 5 3문제 1. The secretary does not know ------- the company president will be able to attend an emergency meeting due to his hectic schedule. (A) on (B) if (C) while (D) once 해석 -- 그 비서는 기업 회장이 정신없이 바쁜 일정으로 인해 긴급회의에 참석할 수 있을 것인지 알지 못한다. 해설 -- 명사절 접속사 채우기 문제 빈칸 이하(------- the company president ~ hectic schedule)는 타동사(know)의 목적어 자리이다. 따라서 목적어 자리에 온 절을 이끌 수 있는 명사절 접속사 (B) if(~인지 아닌지)가 정답이다. 전치사 (A), 부사절 접속사 (C), (D)는 명사절을 이끌 수 없다. 어휘 secretary 비서 attend 참석하다, 출석하다 emergency meeting

EconomySept. 1, 2022

Seoul shares open lower on US rate hike woes

South Korean stocks got off to a weak start Thursday, tracking overnight losses on Wall Street, on lingering concerns over the US Federal Reserve's aggressive policy tightening and a global economic slowdown. The benchmark Korea Composite Stock Price Index (KOSPI) lost 39.89 points, or 1.61 percent, to trade at 2,432.16 points as of 9:15 a.m. The stock market has lost steam in recent sessions, after Fed Chair Jerome Powell stressed his determination to tame inflation during the annual Jacks

MarketSept. 1, 2022

Exports up 6.6% in August; trade deficit extended for 5th month

South Korea suffered a trade deficit for the fifth consecutive month in August for the first time in nearly 14 years on high global energy prices, though its exports rose 6.6 percent on-year, data showed Thursday. Outbound shipments stood at $56.67 billion last month, up from $53.2 billion a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy. It is the highest tally for any August since the ministry began compiling related data in 1956. The previous record

EconomySept. 1, 2022

Won seesaws amid mixed signals

The South Korean won fluctuated sharply Wednesday, reaching a 13-year intraday low at 1,352.3 won per US dollar in the onshore market before closing at 1,337.6, 0.68 percent stronger than the Tuesday’s close, as the dollar continued its rally and the euro pared losses later the day. The search for safe-haven assets like the dollar is still strong, as investors reassess the prospect for higher US rates in light of a more hawkish tone on inflation set by the US Federal Reserve over the week

MarketAug. 31, 2022

Korea calls on US to cooperate in resolving conflict on EVs

SEJONG -- South Korea’s Industry Minister Lee Chang-yang called for the US to take a cooperative stance on resolving the backlash from the local automobiles industry over the US Inflation Reduction Act, which is targeted to scale back subsidies to electric vehicles not assembled on American soil. Lee delivered the nation’s position during his meeting with US Ambassador to Korea Philip Goldberg in Seoul on Wednesday. He said worries among local carmakers as well as the Korean governm

IndustryAug. 31, 2022

Industrial giants boast hydrogen tech at H2 Meet

The world’s largest exhibition exploring the potential of hydrogen in the field of mobility kicked off in Korea on Wednesday, bringing industrial giants from in and out of the country with their latest technological achievements. H2 Mobility Energy Environment Technology, or H2 Meet in short, is the world’s only hydrogen industry exhibition. It was organized to bolster the country’s technological innovation in the hydrogen sector ranging from the energy’s production, stor

IndustryAug. 31, 2022