LG Electronics to invest 527b won in solar tech

LG Electronics announced an investment project on Wednesday to give boost to the firm’s solar energy business. The company signed a memorandum of understanding with the Gumi City government on the same day to beef up its solar panel module production lines in Gumi, North Gyeongsang Province.Attendees at the Intersolar trade show held in Germany last year look at LG Electronics’ NeON2 solar panel module. (Yonhap)The tech giant will make investments worth 527 billion won ($435 million) to add six

Jan. 13, 2016

LG unveils new investment plan for solar business

LG Electronics announced an investment project on Wednesday to give boost to the firm’s solar energy business. The company signed a memorandum of understanding with the Gumi City government on the same day to beef up its solar panel module production lines in Gumi, North Gyeongsang Province. Attendees at the Intersolar trade show held in Germany last year look at LG Electronics’ NeON2 solar panel module. (Yonhap)The tech giant will make investments worth 527 billion won ($435 million) to add six

Jan. 13, 2016

LG to unveil G5 smartphone in February

LG Electronics sent out an invitation for the unveiling event for the firm’s next flagship smartphone model to the global media and industry officials on Wednesday.The next flagship phone will be, as widely predicted, the long-awaited G5 for which the Korean firm has recently filed a trademark application at the Korean patent office, according to an industry official.LG Electronics’ invitation for the unveiling event of the firm’s next marquee smartphone. (LGE)The save-the-date announcement indi

Jan. 13, 2016

[Photo News] LG rolls out new air conditioners

  COOL NEW AIR CONDITIONERS -- Cho Sung-jin (second from left), head of LG Electronics’ home appliance and air solution business unit, and Choi Sang-gyu (second from right), head of the firm’s Korea sales and marketing, pose at the unveiling event of the tech firm’s 2016 Whisen Dual Air Conditioner lineup, fitted with two cold air outlets, motion sensors and air purifying and dehumidifying functions. (LGE)

Jan. 12, 2016

Samsung’s Silicon Valley accelerator head promoted

Samsung Electronics promoted David Eun, executive vice president and head of the Global Innovation Center, the company’s start-up accelerator based in Silicon Valley, to president, in a move that was effective Jan. 1.  “It’s a signal from Samsung that the company is committed to software services,” he said of his recent promotion last week. Eun, 47, has become the youngest president at Samsung. He joined the company four year ago. Prior to that, he worked at AOL and Google. Over the past few yea

Jan. 12, 2016

Samsung seals partial agreement with leukemia victims

Taking a step closer toward ending a decade-old dispute, Samsung Electronics and victims of leukemia and their families reached an agreement to take measures to prevent recurrence of the disease at workplaces.The agreement was made during a three-way meeting among the tech giant and two groups representing victims of leukemia in Seoul on Tuesday.Under the deal, they would set up an independent organization to deal with checking working conditions at Samsung‘s facilities.(From left)Baek Soo-hyun,

Jan. 12, 2016

Samsung embraces Silicon Valley culture

SAN JOSE, California ― Samsung Electronics is making a big push to expand its presence in Silicon Valley, the heart of the tech world and the backyard of its archrival Apple. Although it is still rare to find Samsung’s top executives mingling with their younger counterparts, outfitted with a hoodie and sneakers, for spontaneous meetings on the street or at restaurants, the winds of change are clearly blowing. The Korean tech giant has increasingly acquired tech start-ups, and incorporated their

Jan. 12, 2016

Kakao to acquire top music streaming firm for W1.87tr

KakaoTalk’s latest moves tuned toward finding its groove in the global markets may just turn out to be a wake-up call for rivals such as Line Corp. On Monday, Korea’s top mobile messenger service said it is acquiring LOEN, the operator of popular music-streaming service MelOn. Kakao will buy a 76.4 percent stake worth 1.87 trillion won ($1.55 billion) in the firm, with the transaction scheduled to be completed later this month.Explaining Kakao’s rationale behind the decision, company CEO Jimmy R

Jan. 11, 2016

[Photo News] LG Chem runs chemistry camp

LG CHEM RUNS CHEMISTRY CAMP -- Students participate in Chemistry Camp, a corporate social responsibility program run by LG Chem, in Yeosu, South Jeolla Province, Monday. Children learn about renewable energy sources and chemicals used in daily life during the three-day event. (LG Chem)

Jan. 11, 2016

Samsung SDI batteries get spotlight at U.S. auto show

Samsung SDI showcased battery cells that enable electric cars to travel up to 600 kilometers on a full charge at the North American International Auto Show, the biggest auto show in the U.S. which kicked off in Detroit on Monday (local time).Battery technology has recently come into the limelight in the car industry as it plays a core role in electric cars which are widely considered a substitute to gas-powered counterparts.  A model poses with Samsung SDI’s battery cells to be displayed at the

Jan. 11, 2016

SKT, Nokia test wired 5G tech

The nation’s leading mobile carrier SK Telecom said Monday that it has successfully demonstrated the wired 5G network technology on the so-called core network architecture, serving as a control tower in providing services such as user authentication, voice calls, and Internet connectivity.The core network system, which controls user traffic for customers to access the Internet, has to be revamped for the commercialization of the wired 5G network services. Staffers from SK Telecom and Nokia Netwo

Jan. 11, 2016

Samsung SDI highlights ‘battery of things’ at CES

Advanced battery technology is prerequisite to the growth of the sector for connected things, or Internet of Things, said an executive of Samsung SDI, the battery business unit of Samsung Group, at the International CES trade show last week.Every information technology device being connected in the looming IoT era needs advanced battery technology, and global battery-makers are currently vying to develop more powerful batteries with a longer lifespan.Samsung SDI’s batteries for wearable gadgets.

Jan. 10, 2016

Fintech start-up, KB Kookmin roll out robo-adviser

Financial technology start-up Quarterback Investments said Sunday that it has rolled out a robo-adviser solution for trust goods, dubbed the Quarterback R-1, jointly with KB Kookmin Bank, Korea’s largest retail bank by asset value.　Utilizing data from exchange-traded funds and exchange-traded notes in the domestic and global markets, the Quarterback R-1 enables investors to diversify their investment portfolio for stable returns, according to the Korean start-up, an affiliate of fintech firm all

Jan. 10, 2016

Samsung profit to miss expectations

Samsung Electronics’ fourth-quarter earnings in 2015 are expected to remain below par, raising market concerns over its deteriorating businesses.Announcing its earnings guidance for the October-December period, the Seoul-based electronics firm estimated that its operating income would stand at 6.1 trillion won ($5.1 billion), down 17.46 percent from the previous quarter. The operating profit missed an average market estimate of 6.67 trillion won, announced by financial research firm FnGuide earl

Jan. 8, 2016

Netflix launches Korean service

LAS VEGAS ― Netflix, the world’s largest video-streaming service with over 70 million subscribers, on Wednesday announced it was launching its service globally, bringing its Internet TV network to more than 130 new countries, including Korea. The announcement was made by the company’s cofounder and CEO Reed Hastings during his keynote speech at the Consumer Electronics Show in Las Vegas.  Netflix said Wednesday it would launch its streaming services in more than 130 new countries, including Kore

Jan. 7, 2016

SKT showcases tech to unite IoT standards

Standardization is one of the biggest hurdles in connecting smart objects -- well-known as the Internet of Things (IoT) -- as different device- and sensor-makers adopt disparate protocols and technologies in a bid to take the initiative in this field. However, such incongruous moves have often hampered the compatibility between different objects.Mobile SK Telecom sought to address this issue by successfully demonstrating its technology that enables devices with two different IoT standards -- one

Jan. 7, 2016

[CES 2016] LG aims to triple OLED TV sales

LAS VEGAS -- LG Electronics on Wednesday vowed to triple its organic light-emitting diode TV sales this year, pinning hopes especially on the lucrative U.S. market for growth. “Last year, we couldn’t meet consumer demand due to production constraints. Considering the increasing demand, we could more than triple the sales this year,” LG’s TV chief Kwon Bong-suk said at the Consumer Electronics Show in Las Vegas.  LG’s home entertainment division president Kwon Bong-suk speaks during a press confe

Jan. 7, 2016