Most Popular
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Seoul Fireworks Festival ends smoothly, but leaves piles of trash
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[AtoZ into Korean mind] The price of numbers: How rankings shape lives in Korea
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Can Jennie break the K-pop solo artist slump?
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Yoon set for talks with Marcos in Philippines
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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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[Exclusive] Korea’s defense acquisition agency fails to meet legal standard for women representation
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Seoulites celebrate coexistence at Wellness Seoul 2024
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First lady’s Dior bag scandal to be at center of Assembly audit
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LG, Samsung spearhead OLED patents in South Korea
LG companies applied for the most number of patents for organic light-emitting diode materials in South Korea, new data showed. LG companies, including LG Display and LG Electronics, lodged a total of 939 patent filings for OLED materials in the 2015-2019 period, according to the Korean Intellectual Property Office on Thursday. Samsung Group and its affiliates came in second with 442 filings and Doosan companies ranked fourth with 203 patent applications. Of the total 3,067 patent applicat
Jan. 14, 2021
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S. Korean firms wrap up CES journey after showcasing solutions for new normal era
South Korean firms, anchored by Samsung Electronics Co. and LG Electronics Inc., wrapped up their four-day journey at the world's largest tech expo Thursday after introducing their innovations for the new normal era of the pandemic. This year's Consumer Electronics Show (CES) went all-digital for the first time due to the novel coronavirus. The number of exhibitors for CES 2021 was only 1,960, which was far less than last year's 4,500 attendees, as many Chinese firms decided to skip the show f
Jan. 14, 2021
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Doosan Infracore gains upper hand in case involving its Chinese unit
Top construction equipment maker Doosan Infracore Co. on Thursday gained the upper hand in a lawsuit brought against it by investors in its Chinese unit Doosan Infracore China Co. (DICC) as the Supreme Court sent the case back to a lower court for retrial. The highest court ordered the appeals court to reconsider its ruling favorable to the financial investors including Mirae Asset Private Equity, saying that Doosan Infracore's failure to share information about its Chinese unit did not get in
Jan. 14, 2021
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Dyson to open flagship store in Seoul this week
British home appliance maker Dyson Ltd. said Thursday it will open its first flagship store in South Korea this week as the company eyes to expand its sales amid the pandemic. Dyson Demo Store will open at IFC Mall in western Seoul on Friday, featuring all of Dyson's products and services. It is the first flagship store to be directly run by Dyson Korea since the Korean unit was established in 2018. "We want to offer a place where people can explore, test and try Dyson's full lineup of te
Jan. 14, 2021
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Samsung unit signs collective agreement with labor union
Samsung Display Co. on Thursday signed a collective agreement with its labor union, becoming the first electronics affiliate of Samsung Group to ink such a deal. The agreement was reached about seven months after the management and the labor union started to negotiate on welfare programs and working condition improvements. Samsung Display is the first among Samsung Group's five major electronics affiliates, including Samsung Electronics Co. and Samsung SDI Co., to ink a collective agreement wi
Jan. 14, 2021
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M&As in semiconductor industry set record high value in 2020
The total value of mergers and acquisitions in the semiconductor industry set an all-time high of $118 billion in 2020, according to a report by semiconductor market research firm IC Insights. The report pointed to five mega-agreements, along with more than a dozen smaller deals, that pushed the total M&A value over the previous record of $107.7 billion set in 2015. Announced in July, September and October, the five deals had a combined value of $94 billion to take up about 80 percent of
Jan. 14, 2021
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SK hynix raises $2.5b via sale of foreign debts
SK hynix Inc., South Korea's second-largest chipmaker, on Thursday said it has raised $2.5 billion by selling debts overseas, which includes its first-ever green note, as it eyes to use funds to bolster its presence in the memory sector. SK hynix said it sold a 10-year green bond worth $1 billion to accelerate its environmental, social and governance (ESG) management, claiming it is the first among global semiconductor memory manufacturers to sell such a bond. A green bond is a special-purpose
Jan. 14, 2021
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Samsung Biologics’ new CEO lays out vision for next decade
Samsung Biologics’ newly appointed CEO John Rim presented a multidimensional vision for the company’s next 10 years at the virtual JP Morgan Healthcare Conference 2021 on Wednesday. Key takeaways from Rim’s presentation involved more overseas facilities, early contract lock-ins for its fourth production base, which will complete construction in 2023, and capacity for new modalities such as vaccine and cell-gene therapies. “Our next decade will be marked by increased bu
Jan. 13, 2021
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7 injured by chemical leak at LG Display plant
A toxic chemical leak at LG Display Co.'s plant in South Korea left seven workers injured, local authorities said Wednesday. An ammonium-type chemical substance was leaked at around 2:20 p.m. at LG Display's factory in Paju, just north of Seoul, according to them. Of the injured workers, two received cardiopulmonary resuscitation after they collapsed, the authorities said. The leaked chemical is believed to be tetra methyl ammonium hydroxide (TMAH) that is known to be used as a solvent in chi
Jan. 13, 2021
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Chaebol kids reach C-suite within 5 years: data
Family members of chaebol owners are climbing the corporate ladder visibly faster than their peers, reaching the C-suite within a mere five years, industry data showed Wednesday. According to an analysis by corporate tracker CEO Score, it took an average of 4.8 years for chaebol owner family members to be promoted to executive positions. The study was based on 43 family-controlled conglomerates in which both the owner parents and children participated in management. The chaebol offspring join
Jan. 13, 2021
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Hyundai unveils teaser of BEV Ioniq 5
Hyundai Motor on Wednesday released the teaser for the upcoming Ioniq 5, the first purely electric model based on its electric vehicle platform. The Ioniq 5 mid-sized crossover vehicle is marked with the electric-global modular platform, or E-GMP, which offers a driving range of up to 500 kilometers on a single charge, as well as an ultrahigh-speed 800-volt charger that can charge 80 percent of battery capacity within 18 minutes. The model’s key design features include the Parametric Pi
Jan. 13, 2021
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Kia, Kakao Mobility sign MOU to expand electric taxis here
Kia and Kakao Mobility have established a partnership to expand the supply of eco-friendly electric vehicles here, officials said Wednesday. Officials of both companies met Tuesday at Kia’s headquarters in southern Seoul’s Apgujeong-dong and signed a memorandum of understanding to promote electric vehicle supplies. The strategic orientation of the MOU is to combine Kia’s automobile infrastructure and Kakao’s mobility platform, seeking to advance the convenience of both
Jan. 13, 2021
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[CES 2021] Auto parts players aim high for future mobility
As the auto industry shifts to electric and self-driving cars, auto parts makers are no longer mere suppliers. They have become a key driving force behind market innovations. In this transition, South Korean companies are coming out of the shadows of compatriot brands Hyundai and Kia to become global players, taking aim at the worldwide automotive parts and components market which is expected to reach $2.4 trillion in 2024 from last year’s $1.9 trillion. This year’s all-d
Jan. 13, 2021
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LG Energy Solution batteries set to power Amazon cargo trucks
Some of Amazon’s planned 100,000-strong fleet of electric delivery vehicles will likely be powered by LG Energy Solution batteries, according to a recently-revealed deal between the US e-commerce giant and a Canadian EV maker. In its recent filing with the US Securities and Exchange Commission, Lion Electric said it has a framework agreement with Amazon Logistics in place since summer last year to reserve production facilities for 500 Lion 6 and 8 electric trucks per year from 2021 and 20
Jan. 13, 2021
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Samsung to unveil another batch of shareholder-friendly measures this month
Samsung Electronics Co. is expected to unveil another batch of shareholder-friendly measures, including big dividend payments, later this month, industry sources said Wednesday, in a move to smooth out the group leadership succession. Samsung, the world's largest memory chip and smartphone maker, is expected to announce its new shareholder return initiative for the 2021-2023 period on Jan. 28, along with its fourth-quarter earnings report. Local analysts widely expect that Samsung's new measur
Jan. 13, 2021
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Hyundai Steel workers stage strike over wages
Thousands of unionized workers of Hyundai Steel Co. began a walkout Wednesday to demand higher wages and bonuses amid the COVID-19 pandemic, the union said. The workers will go on strike for two days through Thursday, affecting production at five domestic plants of South Korea's second-largest steelmaker, the union said. Still, some 2,000 essential workers did not join the strike as they need to work at three blast furnaces in Dangjin, about 120 kilometers south of Seoul. The strike by the 8,
Jan. 13, 2021
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Exports of OLED displays forecast to hit new high this year
South Korea's exports of organic light-emitting diode (OLED) displays are expected to jump nearly 20 percent on-year to an all-time high in 2021 on growing global demand, sources said Wednesday. Overseas shipments of OLED panels are projected to soar 19.6 percent on-year to $13 billion this year, accounting for more than 70 percent of overall display exports, according to the industry ministry and the Korea Display Industry Association. Bolstered by the sharp increase, South Korea's overall di
Jan. 13, 2021
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[News Analysis] Is Korea prepared for vaccine rollout?
The first batch of COVID-19 vaccines may arrive here in the coming weeks, as President Moon Jae-in on Monday announced the launch in February of the nationwide vaccination campaign. When it comes to the jab itself, South Korea says it has secured more than enough vaccine to inoculate its 51.6 million population. The question now is whether the country can handle all the logistical challenges required to take vaccines from the factory floor to patients’ arms. To administer the shots as q
Jan. 12, 2021
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mRNA the key term at JP Morgan Healthcare Conference
Taking place amid the ongoing COVID-19 pandemic and accelerating progress for vaccine distribution, the 39th annual JP Morgan Healthcare Conference was all about mRNA vaccine developers and interested investors. At the event, which kicked off virtually for the first time in 2021 on Monday, multiple pharmaceutical firms including the recently newsworthy BioNTech and Moderna presented their yearly business blueprints. South Korea’s Hanmi Pharmaceutical also took part, proposing its newest b
Jan. 12, 2021
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Kolon Industries to expand tire cord plant in Vietnam
Kolon Industries, a South Korean industrial materials company, said Tuesday it will expand its tire cord plant in Vietnam to increase exports of the product from the Southeast Asian country. Kolon Industries will invest 68 billion won ($62 million) in its wholly owned Kolon Industries Binh Duong Company Ltd. to help the Vietnamese subsidiary expand the plant by September next year, the company said in a regulatory filing. Tire cords are used as reinforcing materials for tires, designed to kee
Jan. 12, 2021