LG to launch new 27-inch gaming monitor in S. Korea

LG Electronics Inc. on Monday said its new 27-inch gaming monitor will be launched in South Korea next month as the company eyes to expand sales of IT products amid the pandemic-driven stay-at-home trend. LG's new 27-inch UltraGear 4K monitor, named the 27GP950, will hit the local shelves next Monday with a price tag of 1.09 million won ($980). The new monitor, which was featured in the all-digital Consumer Electronics Show (CES) 2021 in January, is already sold in select markets in North Amer

April 26, 2021

[#WeFACE] LG Innotek aims to be No. 1 ESG company in electronic components industry

The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed.  Since even before the environmental, social and corporate governance trend caught on in corporate Korea, LG Innotek has been making quiet efforts for years for the betterm

April 25, 2021

Samsung Bioepis’ Q1 biosimilar sales in Europe hit $205m

Sales of biosimilars developed by Samsung Bioepis in Europe reached $205.1 million in the first quarter this year, the South Korean drugmaker said Friday. Sales of Samsung Bioepis’ three major autoimmune biosimilars -- Benepali, Flixabi and Imraldi -- increased 3.9 percent on-quarter but decreased 6.3 percent on-year, the company said, citing an earnings report of its US partner Biogen released Thursday, local time. Samsung Bioepis is a joint venture between Biogen and Samsung Group&rs

April 23, 2021

Samsung’s Lee denies charges in first court hearing on succession

Samsung Electronics chief Lee Jae-yong on Thursday denied all charges leveled against him during his first trial hearing on alleged irregularities surrounding his ascension to the helm of Samsung Group. Attending the session held at the Seoul Central District Court, Lee pleaded not guilty when he was asked by the presiding judge to respond to the charges brought against him by prosecutors which include stock market manipulation, illicit trading and breach of trust. “I cannot admit (to

April 22, 2021

S. Korea looks to Russia’s Sputnik V amid vaccine shortage

Faced with a COVID-19 vaccine shortage, South Korea is taking the first steps to consider Russia’s Sputnik V. The Ministry of Food and Drug Safety said Thursday that it would collect clinical data on the Russian vaccine to study its efficacy and safety. The ministry has requested the help of the Foreign Ministry and its overseas missions for the collection of data from 12 countries where the vaccine has been rolled out, officials said. A Drug Ministry official, however, attempted to d

April 22, 2021

[Exclusive] SK Telecom plans M&A, foray into nonmemory chip market: CEO

SK Telecom, South Korea’s No. 1 mobile carrier, aims to grow into a global key player in nonmemory chip design and is on the lookout for acquisition targets, its chief executive officer said Wednesday. Speaking exclusively to The Korea Herald, SKT CEO Park Jung-ho said, “SK Telecom will take the lead in development of nonmemory chips, helping SK hynix (expand into the overall semiconductor market).” The SKT chief doubles as vice chairman of SK hynix, the world’s third

April 21, 2021

S. Korea to invest W105b in promising digital New Deal companies

South Korea said Wednesday it will invest 105 billion won ($94 million) this year to support budding companies in promising tech sectors, such as 5G networks and artificial intelligence, as part of the country's digital New Deal initiative. Last year, South Korea unveiled the digital New Deal program, which aims to invest 58.2 trillion won to develop key future technologies from smart factories to big data solutions and create 900,000 jobs by 2025. The Ministry of Science and ICT said it signe

April 21, 2021

‘Time for Korea to consider telehealth’

The Federation of Korean Industries said Tuesday that South Korea needs to consider reviewing related regulations to open up the gates for local practice of telemedicine-medical diagnosis. FKI Vice Chairman Kwon Tae-shin said now is the time to take deregulatory actions, given the public’s positive perception of telemedicine, formed after experiencing the COVID-19 pandemic. He made the remarks during a seminar held to share information and opinions on telemedicine trends in Seoul, Tue

April 20, 2021

Samsung’s Lee family to announce inheritance tax plan next week

The bereaved family of Samsung Group Chairman Lee Kun-hee will make public its plans for the late tycoon’s massive personal wealth, estimated to be worth over 30 trillion won ($26.98 billion), industry sources said Tuesday. The plan will include donations of art from the chairman’s collection and the allocation of his stocks to family members, including Lee Jae-yong, his son and successor in the Samsung empire. It will also detail how the family plans to pay the inheritance taxes.

April 20, 2021

SK Telecom introduces 5G-based disinfection robot at local hospital

SK Telecom announced Monday that the company has introduced a 5G-based disinfection robot at a Severance Hospital branch in Yongin, Gyeonggi Province. It is the world’s first such hospital robot utilizing the next-generation telecommunication technology, the company added. The machine “Keemi” uses a real-time location system, through which it can find the location of missing patients and analyze patient density within the hospital. The robot comes with an artificial intel

April 19, 2021

Samsung to finalize US investment plan soon

Samsung Electronics is anticipated to finalize its investment plan for foundry expansion in the United States and South Korea, and make it official as early as next month, according to industry forecasts on Monday. After participating in the meetings with US President Joe Biden and Korean President Moon Jae-in last week, Samsung seems to be accelerating its internal decision-making process to finalize the investment plan both for Korea and the US in response to the two governments’ call

April 19, 2021

Nokia to tap S. Korea's indoor 5G equipment market with LG Uplus

Nokia Corp., a Finnish telecom equipment giant, said Monday it has signed an agreement with South Korean mobile carrier LG Uplus Corp. to install its next-generation indoor 5G equipment here. Nokia said it will deploy its small cell AirScale Indoor systems in indoor locations across the country, including shopping malls and office buildings, for LG Uplus' 5G network. The system allows seamless 5G connectivity between indoor and outdoor locations and can be easily upgraded to accommodate future

April 19, 2021

SK Telecom launches 5G-based disinfection robot

SK Telecom Co., South Korea's largest mobile carrier, said Monday it has commercialized the world's first 5G-based disinfection robot in a move to automate anti-infection efforts against COVID-19 in health care facilities. The telecom operator said it partnered with Yongin Severance Hospital to deploy the robot, which uses a real-time location system using a 5G network to roam around the hospital on its own and monitor people's temperatures and whether they are wearing masks. The robot is also

April 19, 2021

[News Focus] Seoul moves to enact its own ‘chip act’

With a growing sense of crisis amid an unfolding global power struggle involving chips, South Korea is moving to legislate its first special bill on the local semiconductor industry. If enacted, it would mark the first time that the country, home to world’s No. 1 and 2 memory chip producers Samsung Electronics and SK hynix, acts to provide practical support and benefits, including tax credits, to chipmakers and the local chip ecosystem. It would also be a signal that Korea won’

April 18, 2021

Locally developed vaccines still far out of reach

South Korea, which is struggling to secure COVID-19 vaccines developed by foreign firms like Pfizer and Moderna, can’t expect local alternatives anytime soon, as Korean drugmakers are not making speedy progress as hoped in their vaccine development, industry sources said Sunday. Even firms that have reached the clinical trial stage are having difficulties in securing volunteers with the vaccination campaign underway, the sources said. South Korean drugmakers Genexine and Cellid are cu

April 18, 2021

S. Korea to invest W42b in illegal drone response tech by 2025

South Korea said Sunday it will spend 42 billion won ($37.6 million) by 2025 to develop a response system against illegal drones amid growing security threats from the fast-developing technology. A consortium of 23 companies and research institutes -- which includes the Korea Atomic Energy Research Institute, the Korea Aerospace Research Institute and aerospace and defense firm LIG Nex1 Co. -- will develop a response system that spots and neutralizes the illegal unmanned aircraft, according to

April 18, 2021

LG-GM joint venture to build $2.3 bln battery factory in Tennessee

South Korean battery maker LG Energy Solution said Saturday its joint venture with American automaker General Motors will build a $2.3 billion (2.58 trillion won) electric vehicle battery factory in Tennessee.  Ultium Cells, the joint venture between LG and GM, will build a second US factory with an annual capacity of 35 gigawatt-hours, similar to the first one under construction in Ohio, LG Energy said. "With the joint venture's factory construction, LG Energy Solutio

April 17, 2021

LG Energy to chip in W1tr for EV battery plant with GM

South Korean battery maker LG Energy Solution Ltd. said Friday it will spend 1.06 trillion won ($950 million) to build a battery factory in the United States with American automaker General Motors Corp. In a regulatory filing, LG Energy, wholly owned by LG Chem Ltd., said that it and GM will each invest the same amount in their joint venture, Ultium Cells, to step up electric vehicle (EV) battery production in the US. Together with 600 billion won worth of loans, the total investment for the

April 16, 2021

LG Energy Solution joins RE100, EV100 as industry’s first

LG Energy Solution, South Korea’s leading battery maker, has marked the industry’s first case of joining both RE100 and EV100, the two global campaigns addressing climate change and clean energy, officials said Friday. Abbreviated for Renewable Electricity 100%, RE100 is an international campaign launched by nonprofit organization the Climate Group in partnership with Carbon Disclosure Project in 2014. The campaign aims to have businesses that consume more than 100GWh a year switch

April 16, 2021

Samsung Electro-Mechanics introduces smaller capacitor with improved specs

Electronic component maker Samsung Electro-Mechanics has developed an ultrasmall, high-capacity multilayer ceramic capacitor, the company said Thursday. A multilayer ceramic capacitor regulates a current’s flow in a circuit, making it a core component within electric devices, such as smartphones, home appliances, and electronic vehicles.　 Samsung Electro-Mechanics’ new capacitor is 0.4 millimeter long and 0.2 mm wide. The capacitor also has a 1.0 microfarad capacity and 6.3 volta

April 15, 2021