Daewoong Pharmaceutical signs $430m licensing deal for Fexuprazan

South Korea’s Daewoong Pharmaceutical signed an agreement to license out its gastroesophageal reflux treatment Fexuprazan to US biotech firm Neurogastrx, the company announced Tuesday. Under the contract worth $430 million in total, Daewoong will receive milestone payments of undisclosed amounts when stages are completed in the drug’s development process in the US, in addition to royalties based on its future sales in the US and Canada. Daewoong has also received a 5 percent equi

June 9, 2021

KT teams up with Amazon Web Services in AI, cloud tech

KT Corp., a South Korean telecom giant, said Wednesday it has partnered with global cloud service operator Amazon Web Services Inc. (AWS) in a move to bolster its push to develop artificial intelligence (AI) and cloud technologies. The two companies agreed to pursue joint research in AI and cloud technologies as well as collaboration in media businesses, KT said in a statement. The telecom operator said it plans to launch a contact center service that combines its AI-based contact center servi

June 9, 2021

[Herald Interview] LG automates vacuum cleaner dust removal

Cordless stick vacuum cleaners have made hoovering a lot more convenient, but they have a drawback: the need to empty dustbins frequently due to their small capacity. A team of engineers at LG Electronics worked to solve this problem for years and recently came up with an answer -- a new charging system integrated with automatic dustbin removal technology. Every time a user docks the vacuum cleaner in its stand to charge, the dustbin is automatically emptied. “Regardless of nationali

June 8, 2021

LG CNS provides AI solution for public English education

LG CNS, an IT solution affiliate of LG Group, said Tuesday the company will provide artificial intelligence tutor services to support public English education at elementary through high schools in Seoul. The LG affiliate said it signed a memorandum of understanding with the Seoul Metropolitan Office of Education on Monday to cooperate on an English teaching service dubbed “AI Tutor,” which will run based on the firm’s artificial intelligence program. The memorandum will

June 8, 2021

SK Telecom to launch VR game for Oculus devices

SK Telecom Co., a major South Korean wireless carrier, said Tuesday it will launch a virtual reality (VR) game for Facebook Inc.'s Oculus Quest devices in a move to bolster its presence in the VR sector. "Crazy World VR," playable on Oculus' Quest 1 and 2 devices, features a range of sports games from archery and tennis to bowling in VR and allows users to compete with other players around the world in real time. The game, slated to launch Wednesday, also incorporates characters from

June 8, 2021

Moderna could produce mRNA vaccine substance in South Korea: report

US pharmaceutical company Moderna may produce the drug substance for its messenger RNA-based COVID-19 vaccine in South Korea, a local media outlet reported Monday. The company is reviewing options for the vaccine substance production here, including building its own production facility in Korea and partnering with a local firm, the report said, quoting Corrine Le Goff, Moderna’s chief commercial officer. The executive did not provide further details. The US-based pioneer in mRNA techno

June 7, 2021

Hanhwa Techwin to install ultrahigh resolution cameras on Dokdo

Hanwha Techwin will deploy a cutting-edge surveilling camera system on South Korea’s easternmost Dokdo islets, the company announced Monday. Two cameras with 8K superhigh resolution from the firm will be installed at the residential accommodation and heliport. Offering a live feed of images, they will help authorities to monitor and prevent any disaster or accident near the islets, the firm explained. Hanwha Techwin, a unit of Hanwha Group specializing in video security solutions, deve

June 7, 2021

SK Telecom denies report on selling stake in e-commerce unit to Amazon

SK Telecom Co., a major mobile carrier, denied a news report Monday that it is planning to sell a stake in its e-commerce unit 11Street to US retail giant Amazon.com Inc. in a bid to bolster its online retail business. Local media had earlier reported that Amazon will exercise its right to acquire a 30 percent stake in 11Street, and that the US retailer could acquire up to a 50 percent stake in the South Korean e-commerce company. SK Telecom and Amazon strengthened ties in November last year t

June 7, 2021

Samsung develops ‘stretchable displays’ that stick to skin and monitor health

Samsung Electronics has developed stretchable OLED displays that can stick to skin like rubber bands and monitor the wearer’s heartbeat, it said Sunday. According to the South Korean tech giant, researchers at its in-house R&D unit Samsung Advanced Institute of Technology have successfully melded a stretchable organic light-emitting diode display with a photoplethysmography sensor into a single device to measure and display the user’s heart rate in real time. “The str

June 6, 2021

S. Korea tops in chip equipment investment volume: report

South Korea injected the most in investments for purchasing semiconductor equipment during the first quarter this year, market data showed Friday. According to the latest report from Semiconductor Equipment and Materials International, the combined investment for semiconductor equipment across the world during the first quarter reached $23.5 billion, up 51 percent on-year. Under the lead of top market players such as Samsung Electronics and SK hynix, South Korea accounted for around 31 percen

June 4, 2021

Samsung's share in SSD market to jump in Q3, backed by increasing chip prices

Samsung Electronics is expected to enjoy price increases of solid-state drives in the forthcoming months, due to robust demand from data center providers, market data showed Friday. According to the latest report from Taiwan-based market researcher TrendForce, contract prices of enterprise SSDs for the third quarter this year are expected to jump 10-15 percent on-quarter. The report attributed the price hike to the cloud service providers in the North American region that have recently been

June 4, 2021

Samsung Electro-Mechanics’ Busan plant certified for zero waste

Samsung Electro-Mechanics, an electronic part manufacturing affiliate of Samsung Electronics, said Friday the company’s Busan plant has received international certification for its efforts to minimize industrial waste. Underwriters Laboratory, a global safety certification institution, has validated the Samsung affiliate’s Busan plant that manufactures key components including multilayer ceramic capacitors with a gold grade for its efforts to reduce landfill waste. Underwriters

June 4, 2021

Samsung to hold 1st online show to present network solutions

Samsung Electronics said Friday that it has sent out official invitations to global media and business partners across the world for the upcoming online event to present its network business to a global audience. Entitled “Unleashing the Full Power of 5G,” the show slated for June 22 is the first public event to showcase Samsung’s network solutions. President Jeon Kyung-hoon, Samsung’s network business head, is expected to appear on the stage to introduce a lineup o

June 4, 2021

Samsung to roll out Galaxy Book Go laptops under $350

Revving up for the affordable laptop market amid a pandemic-driven boom in PC sales, Samsung Electronics will introduce new models priced under $350 as early as this month, the company said Thursday. The Galaxy Book Go and the Galaxy Book Go 5G are the newest additions to the tech giant’s notebook lineup powered by Qualcomm’s Snapdragon compute platforms. The latest Galaxy Book Go 5G features the Qualcomm Snapdragon 8cx Gen 2 5G platform, while the LTE version adopts the Qualc

June 3, 2021

LG allows others to use its open source software management tool

LG Electronics Inc. on Thursday said its open source software management tool is now available to outside developers as the South Korean tech giant eyes to bolster its presence in the software community. LG said the FOSSLight (Free and Open Source Software Light) system, which it has been using since 2014, can now be downloaded for free at its website. Open source software is distributed with its original source code and allows programmers to freely use or modify work. But at the same time,

June 3, 2021

Samsung unveils new Galaxy Book Go laptops

Samsung Electronics Co. on Thursday unveiled new Galaxy Book laptops as the South Korean tech giant eyes to beef up notebook sales amid the pandemic-driven stay-at-home trend. The Galaxy Book Go and the Galaxy Book Go 5G will be the latest additions to Samsung's notebook portfolio powered by Qualcomm's Snapdragon compute platforms. The Galaxy Book Go 5G is equipped with the Qualcomm Snapdragon 8cx Gen 2 5G platform, while the LTE version is powered by the Qualcomm Snapdragon 7c Gen 2 system.

June 3, 2021

Apple's App Store facilitated nearly $15b in sales in S. Korea last year

Apple Inc. facilitated nearly $15 billion in billings and sales in South Korea last year, according to a report released by the company Thursday, unveiling the figure for the country for the first time. The report from the US-based Analysis Group found that Apple's App Store facilitated $14.9 billion in billings and sales in South Korea in 2020, accounting for 2.3 percent of the total global market at $643 billion. The figure covers sales of digital goods and services facilitated by the App St

June 3, 2021

S. Korean companies rush to develop mRNA vaccine tech

South Korean pharmaceutical and biotechnology companies are taking the initiative in the messenger RNA vaccine sector in hopes of developing new COVID-19 vaccines and building their capabilities to counter the next pandemic. Samsung Biologics, a major contract manufacturer of drugs, plans to add an mRNA vaccine production line at its facility in Songdo, Incheon, to potentially manufacture ingredients for new mRNA vaccines. ST Pharm, GeneOne Life Science and Hanmi Science are bent on developing

June 2, 2021

Google’s updated service terms take effect

Google has brought a wide range of changes to its service terms starting from Tuesday, which industry sources say would help give a significant boost to its company revenue. Google now allows YouTube to place ads on videos made by all creators -- be they big or small. Previously small content creators who don’t qualify for the company’s partner program couldn’t put ads on their videos. The latest policy change would boost the YouTube Premium membership, which gives ad-free

June 1, 2021

Local app market operator secure $15m funding from Microsoft, Deutsche Telekom

ONE store, South Korea’s homegrown app market backed by all three mobile carriers, announced Tuesday that it has secured 17 billion won ($15 million) of funding from Microsoft and Deutsche Telekom’s venture capital unit. Of the total, 11.3 billion won will come from Microsoft, while Deutsche Telekom Capital Partners Management GmbH will invest 5.5 billion won to acquire shares in ONE store, which is affiliated with SK Telecom. ONE store will issue 414,900 convertible preferred

June 1, 2021