Most Popular
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Yoon, Marcos agree to upgrade military, infrastructure, nuclear ties
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'Culinary Class Wars' producers deny trying to spice up results
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Ex-president's daughter investigated for drunk driving accident
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Seoulites celebrate coexistence at Wellness Seoul 2024
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Netflix, streaming platforms come under fire for loose ratings
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20 minors registered as CEOs making over 100 million won
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Yoon honors veterans of Korean War in trip to Philippines
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K-pop CEOs sidestep key issues at National Assembly audit
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Man killed by fellow hunter who mistook him for wild boar
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North Korean troops killed, wounded in Ukraine war: Seoul defense minister
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SK Telecom-Sinclair joint venture to commercialize next-generation broadcast solution this year
Cast.era, a media technology joint venture between South Korea's top wireless carrier SK Telecom Co. and US media giant Sinclair Broadcast Group Inc., will launch a next-generation broadcast solution that boosts television content quality this year, the South Korean company said Friday. The telecom operator said Cast.era has completed testing of the 5G-ATSC3.0 platform, which boosts broadcast quality using SK Telecom's 5G cloud and artificial intelligence (AI) technology. Cast.era is planning
April 2, 2021
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Hanwha to set up US office for space biz expansion
Hanwha Systems, the affiliate spearheading Hanwha Group’s space and defense IT business, will set up its first US office, according to industry sources Friday. At its board meeting held March 23, the company decided to establish the US office within this year to add momentum to its space business. Candidate locations include Connecticut, where Hanwha Systems’ parent company Hanwha Aerospace has an office, and the state of Washington, where local satellite companies are clustered.
April 2, 2021
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Hyundai Motor denies partnership with Google
South Korea’s top automaker Hyundai Motor on Friday denied a rumor that it is about to establish a joint venture with US tech giant Google to develop a self-driving service. “The corresponding (rumor) is unfounded,” said an official of the company, denying the reports by a local news outlet. “Hyundai Motor will initially spin off one of its departments, in which Google will invest to establish a joint venture,” the report claimed, adding that the new organization
April 2, 2021
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Court-led restructuring set to begin for SsangYong Motor
A court-led restructuring process for SsangYong Motor Co. is set to begin as early as next week as a sole potential investor didn't submit a letter of intent to acquire the financially troubled carmaker, industry sources said Friday. SsangYong Motor's Indian parent Mahindra & Mahindra Ltd. has been in talks with US vehicle importer HAAH Automotive Holdings Inc. to sell its majority stake in the Korean unit as part of its global reorganization plan amid the COVID-19 pandemic. The talks come
April 2, 2021
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LG's rollable TV hits overseas markets
LG Electronics Inc. said Friday it has begun selling its rollable TV in foreign markets as the South Korean tech giant eyes to expand its presence in the high-end TV market. LG started overseas sales of the SIGNATURE OLED R TV through its global website Thursday. The industry's first rollable TV is currently available in 15 countries, including the United States, Russia, Germany and France. Due to the novel coronavirus pandemic, LG said it plans to focus on online sales rather than offline mar
April 2, 2021
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Carmakers' March sales rise 12% on robust overseas demand
South Korean carmakers' sales rose 12 percent last month from a year earlier helped by robust overseas demand for SUVs amid the COVID-19 pandemic, industry data showed Thursday. The five carmakers -- Hyundai Motor, Kia, GM Korea, Renault Samsung Motors and SsangYong Motor -- sold a combined 672,643 vehicles in March, up from 601,082 units a year ago, according to data from the companies. Their domestic sales fell 6.7 percent to 140,971 units last month from 151,025 a year ago. But overseas sal
April 1, 2021
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SK didn’t infringe on LG’s battery patents: ITC
The US International Trade Commission on Thursday ruled in favor of SK Innovation in its battery patent case against LG Energy Solution, in an unexpected twist in the legal battle. In its preliminary decision, the ITC said SK had not infringed on any of LGES’ four battery patents in a case that was filed by LGES in September 2019. This is separate from the battery trade theft case, in which the ITC sided with LGES and slapped SKI with a “devastating” 10-year business ban in t
April 1, 2021
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SsangYong Motor driven into corner as US investor dithers
The fate of SsangYong Motor, the cash-strapped Korean affiliate of Indian carmaker Mahindra & Mahindra, hung in the balance Thursday, as it failed to secure a letter of intent from its likely investor, US-based HAAH Automotive. With the “prepackaged plan” scenario practically eliminated, the SUV-focused automaker now faces the worst risk of market delisting and liquidation. Financial authorities, however, maintained a prudent stance over the issue, leaving room for a last-min
April 1, 2021
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Samsung lowers price of Galaxy Z Fold2 in S. Korea
Samsung Electronics Co. has lowered the price of its latest foldable smartphone, the Galaxy Z Fold2, industry insiders said Thursday, in an effort to popularize the foldable smartphone category. The ex-factory price for the Galaxy Z Fold2 5G, which was launched last September, has been set at 1.892 million won ($1,675) here, down from 2.398 million won, according to people in the mobile industry. The ex-factory price, or list price, refers to the selling cost of goods from the manufacturer's p
April 1, 2021
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S. Korea to speed up growth of power semiconductor industry
South Korea pledged Thursday to support the power semiconductor industry amid growing demand for energy-efficient chips with stronger durability. Under the goal, the country plans to develop at least five power semiconductor products by 2025, according to the Ministry of Trade, Industry and Energy. South Korea also plans to support local businesses to establish the production lines of six- to eight-inch foundry factories. Power semiconductors are used to convert, stabilize and distribute elect
April 1, 2021
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ICT companies spent over W40tr on R&D in 2019
South Korea's information and communication technology (ICT) companies spent more than 40 trillion won ($35.3 billion) on research and development in 2019, data showed Thursday, as the country focuses on developing new 5G and artificial intelligence technology. ICT companies' total R&D spending reached 41.4 trillion won in 2019, up 3 percent from the previous year, according to the Ministry of Science and ICT. By sector, 38.1 trillion won, or 91.9 percent of the total, was spent on informa
April 1, 2021
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Doosan Logistics Solutions offers sorting system to Vietnam Post
System integrator Doosan Logistics Solutions Co. (DLS) said Thursday that it has provided an automation sorting system to Vietnam Post, Vietnam's largest delivery company. The subsidiary wholly owned by Doosan Corp., a holding company of Doosan Group, plans to aggressively tap into the Vietnamese e-commerce market and delivery automation market with the latest provision of automation equipment to a center of the state-run Vietnam Post in Da Nang, a central port city of Vietnam, DLS said. The p
April 1, 2021
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LG Electronics launches new 17-inch laptop
LG Electronics Inc. on Thursday launched a new 17-inch laptop boasting high performance as the South Korean tech giant eyes boosting notebook sales amid the pandemic-induced remote working and distance learning trends. The new model in the LG UltraGear 17 series comes with a price tag of 2.24 million won ($1,980) here, according to LG. The new UltraGear 17 is equipped with a 17-inch Wide Quad Extended Graphics Array display that has a resolution of 2560x1600 pixels, according to the company.
April 1, 2021
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Samsung to log robust Q1 earnings on robust mobile biz: analysts
Samsung Electronics Co. is expected to report robust earnings in the first quarter of the year, analysts here said Thursday, as its mobile business has apparently offset relatively sluggish performance from its semiconductor unit. The South Korean tech titan was projected to log 60.64 trillion won (US$53.7 billion) in sales in the first three months of 2021, up 10.9 percent from a year earlier, while operating profit was estimated to surge 38.8 percent on-year to 8.95 trillion won over the peri
April 1, 2021
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Korea Shipbuilding wins W566b in orders for 7 ships
Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Thursday it has signed deals worth 566 billion won ($502 million) with companies from Asia, Europe and Africa to build seven ships. Under a 247 billion-won deal with an Asian company, Hyundai Heavy Industries Co., a unit of KSOE, will deliver two 98,000-cubic-meter ethanol carriers by January 2023, KSOE said. The vessels, which are 230 meters long, 36.6 meters wide and 22.8 meters high, were ordered for the first time this year acro
April 1, 2021
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LG Innotek’s labor union continues to reach out to society
The labor union of LG Innotek has sent various items to COVID-19 front-line workers as a token of appreciation for their contributions to society, the company said Wednesday. Various branches of the union organized the donations on their own, which in total amount to 33 million won ($29,000). The Gumi, North Gyeongsang Province, chapter, for instance, prepared stationery sets for 111 nurses and nursing assistants whose children began school this year, along with letters expressing their grati
March 31, 2021
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Former US trade representative urges Korea to join CPTPP
Former acting deputy US trade representative Wendy Cutler said on Wednesday that Korea should consider joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and wait for the US to follow suit. “Korea was one of the major negotiating partners for the TPP, but missed the opportunity because it waited for too long,” Cutler said during the 1st CPTPP Trade Forum organized by the Korean Chamber of Commerce and Industry. She attended the session via virtual link
March 31, 2021
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[Herald Interview] Korea-Germany economic ties to be fueled further by post-coronavirus market: KGCCI
Despite the COVID-19 pandemic, which weighed down most of the world’s economies last year, the bilateral economic relationship between South Korea and Germany gained momentum even in the midst of market turbulence. While the auto and biopharma businesses flourished last year, it is the green growth and hydrogen energy sectors that are likely to pick up speed down the road, according to the chief representative of German businesses here. “Germany and South Korea are already moving
March 31, 2021
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Hyundai Mobis vows to evolve into software platform leader in future mobility market
Hyundai Mobis, Hyundai Motor Group’s auto parts maker, on Wednesday unveiled its blueprint to shift the focus of its business model from conventional automotive component hardware to future mobility software and to transform itself into a platform-oriented company. It also presented new mobility solutions and urban shared mobility concept cars -- the M.Vision X and M.Vision POP -- to shape up the transformation of mobility in the future market context. “In light of the automotive
March 31, 2021
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Regulator to refer Apple Korea to prosecution for hampering probe
South Korea's antitrust regulator said Wednesday it has decided to refer the local unit of US tech giant Apple Inc. and one of its executives to the prosecution for allegedly impeding the regulator's probe into unfair business practices. The Korea Fair Trade Commission (KFTC) also said it plans to fine Apple Korea 300 million won ($265,000) for hampering its investigation. Apple Korea was probed by the KFTC over allegations that it required the country's three mobile operators to pay the cost
March 31, 2021