KT to set up medical checkup centers in Russia with Medsi Group

South Korean communication technology firm KT said Thursday it would join hands with Russia’s Medsi Group to establish health checkup centers in the country, which has been experiencing a lack of access to medical infrastructure for clinical diagnostics. The two companies look to complete a feasibility review of the medical centers in Moscow and Vladivostok within this year, according to KT. The new centers will feature Korean-style health examination services, reflecting Russians‘

Feb. 3, 2022

S. Korea requires Google, Netflix and 3 others to provide stable online services this year

South Korea's ICT ministry said Thursday it has required tech giants Google, Meta Platforms and Netflix, as well as local rivals Naver and Kakao, to comply with the country's revised law requiring them to provide stable services. In 2020, South Korea passed a legal revision holding online content service providers accountable if they fail to maintain stable services amid growing complaints against streaming giants Netflix and Google after their services experienced outages. The revised law, in

Feb. 3, 2022

Samsung teams up with Amdocs for 4G, 5G solutions in US

Samsung Electronics will collaborate with US-based software solutions firm Amdocs to deliver fourth- and fifth-generation private wireless network solutions to boost the connectivity of firms in the United States, according to the company Thursday. The partnership will allow the companies to advance wireless communications such as increasing download speed, and to simplify the deployment of 5G-ready Citizen Broadband Radio Service solutions for industries ranging from education to utilities, m

Feb. 3, 2022

Will supply side issue affect Galaxy S22 launch?

With Samsung Electronics’ Galaxy Unpacked event just a week to go, all eyes are on whether the launch of flagship Galaxy S22 smartphones would be affected by the supply chain bottlenecks. Recent rumors suggested that the smartphones succeeding the S21 lineups -- Galaxy S22, S22 Plus and S22 Ultra -- might be subject to supply side issues, which could delay shipments following the Unpacked event. The marketing materials distributed to mobile carriers in the United States for the S22 and

Feb. 2, 2022

[Newsmaker] How far have chips come to emulate human brain?

JEONGSEON, Gangwon Province -- New chip technologies could advance to the degree that chips in the future could emulate the human brain in terms of computing speed, density and efficiency, experts said during keynote speeches at the 29th Korean Conference on Semiconductors held in Jeongseon, Gangwon Province Tuesday. However, a technology breakthrough to break the mold is crucial, as achieving large processing capacity and energy efficiency simultaneously is becoming more elusive on the convent

Jan. 31, 2022

SK hynix logs record revenue of W43tr in 2021

South Korean chipmaker SK hynix announced Friday that its annual revenue surged 35 percent to 42.9 trillion won ($35.6 billion) on-year, a record figure for the company. Operating profit spiked 148 percent to 12.4 trillion won. The record performance was propelled by the robust demand in IT gadgets amid a non-face-to-face trend despite uncertainties posed by supply chain risks, the company explained. The previous record was 40.4 trillion won of revenue in 2018, when the firm benefited from a

Jan. 28, 2022

LG Electronics home appliance sales beat Whirlpool for 2021

LG Electronics saw its home appliance business set a new record in 2021 with revenues jumping 21.7 percent to 27.11 trillion won ($22.92 billion), outstripping the performance of its US rival Whirlpool that showed net sales of $22 billion, its earnings release showed Thursday. The performance of the business -- dedicated to refrigerators, washing machines, air conditioners and hygiene-related products -- drove LG Electronics‘ overall full-year revenue to an all-time high, at 74.72 trilli

Jan. 27, 2022

Netmarble to make a big bet on metaverse

South Korean game giant Netmarble said Thursday it will launch metaverse games that allow hyperconnection between the real world and virtual reality, expanding its footing in the fast-growing blockchain industry. “We plan to develop metaverse games that allow users, either individuals or companies, to gain virtual assets that can be exchanged for real assets such as currency through blockchain technology,” said Netmarble Chairman Bang Jun-hyuck. The metaverse concept has been used

Jan. 27, 2022

Science ministry to set up Korean version of US DARPA

The government will introduce the Korean version of the US‘ Defense Advanced Research Projects Agency this year to accelerate future-oriented research on innovative technology, Science and ICT Minister Lim Hye-sook said Thursday. Adapting the US DARPA model -- creator of the computer mouse, drones, the Internet predecessor Arpanet, GPS, and voice recognition -- the Korean agency will have its own independent rights in operation and budget to lead challenging research and development of n

Jan. 27, 2022

Taxi sharing to be revived in Seoul after 40 years

Taxi sharing, banned in South Korea for the past four decades, will be revived in a new way in Seoul this week thanks to the development of IT technology, the city government said Thursday. The Seoul government said cab ride-sharing services can be offered legally in the capital starting Friday, when a revision of the taxi industry development law approved last July takes effect. The new law allows only voluntary taxi sharing arranged through online transportation platforms, the government sai

Jan. 27, 2022

Samsung outpaces Intel in chip sales

Samsung Electronics saw revenue of 94.16 trillion won ($78.36 billion) in its semiconductor chip business alone for 2021, up 29 percent from the previous year, its earnings call showed Thursday, beating its US chipmaking rival Intel‘s full-year $74.7 billion in revenue, released a day prior. It was an all-time high sales record from the chipmaking operation by the Suwon, Gyeonggi Province-based tech giant, outdoing the 86.29 trillion won it earned in 2018. Memory chips alone earned 72.6

Jan. 27, 2022

LG Display says high OLED sales dwarf 2021 market slump

LG Display turned around to profit in 2021 for the first time in three years, buttressed by strong sales of OLED panels for large TV sets, officials said in a conference call Wednesday. The company logged a 2.23 trillion won ($1.86 billion) operating profit for 2021, turning around from 36.47 billion won losses. The figure was slightly lower than the consensus estimate provided by market intelligence firm FnGuide. Its annual sales came to 29.88 trillion won, up 23.1 percent from the previous ye

Jan. 26, 2022

[Newsmaker] Korea to invest W9tr to speed up digital transformation

South Korea will inject a record-high 9 trillion won ($7.5 billion) this year into its drive for digital transformation as part of the country’s Digital New Deal plan, the Ministry of Science and ICT said Wednesday. The biggest portion of the state fund, 5.9 trillion won, will be poured into strengthening the ecosystem of data, network and artificial intelligence. By the end of this year, it plans to set up 310 additional kinds of AI learning data and a comprehensive platform service t

Jan. 26, 2022

[Korea Chips Act] New law to fuel chipmakers’ race to acquire 12th graders

This is the second installment of a two-part series on Korea‘s Chips Act and controversies surrounding a law meant to support the local chip industry amid heated competition around the world. -- Ed. To tackle a chronic workforce shortage in the domestic chips industry, Korean semiconductor giants Samsung Electronics and SK hynix have been ramping up efforts to acquire talents even before they become an adult. Under a new law, a Korean equivalent to the CHIPS for America Act, chipmakers

Jan. 26, 2022

Scientists develop biosensor to detect COVID-19 variants within 30 min.

A group of South Korean scientists developed a screening biosensor that can detect COVID-19 variants within 30 minutes, whose test results are as accurate as polymerase chain reaction (PCR) tests, a state-run science institute said Wednesday. The team led by Lee Kwan-hyi of the Korea Institute of Science and Technology (KIST) developed the highly sensitive and portable biosensor to screen variants through angiotensin-converting enzyme called ACE2. ACE2 is a virus receptor shared by all known C

Jan. 26, 2022

SK Telecom to ramp up development of flying cars

SK Telecom Co., South Korea's top wireless carrier, said Tuesday it will speed up the development of urban air mobility (UAM) services. In 2020, South Korea unveiled its plan to commercialize UAM services by 2025 to help overcome urban traffic congestion by using unmanned drone taxis. Last year, SK Telecom signed a partnership with local defense company Hanwha Systems Co., Korea Airports Corp. and the Korea Transport Institute to develop the infrastructure and aircraft required for UAM service

Jan. 25, 2022

[Korea Chips Act] Korea sets out own Chips Act, in less ambitious fashion

This is the first installment of a two-part series on Korea's Chips Act and controversies surrounding a law meant to support the local chip industry amid heated competition around the world. -- Ed. In the wake of the global chip shortage, supply chain disruptions posed by the pandemic, and tensions between superpowers -- the United States and China -- governments around the world are scrambling to support and protect their respective semiconductor chip industries. South Korea is one of the co

Jan. 24, 2022

LG Onmipod to make debut at Kakao's tech conference in Feb.

LG’s future mobility concept car LG Omnipod will make its first offline debut here next month at a tech conference organized by Kakao Mobility, companies said Monday. Introduced in a video at the Consumer Electronics Show held in Las Vegas earlier this month, LG Omnipod is a concept model of future self-driving cars interpreted as  vehicles as extensions of the home. Based on users’ needs, it can be an office or personal space where users can enjoy various activities such as wa

Jan. 24, 2022

[Battery+] Samsung SDI’s premium strategy faces daunting test

Samsung SDI’s long-held “premium strategy” with high pricing is expected to face a daunting test in its renewed competition with rivals amid ever-evolving market trends. Until 2020, bringing down the price through scale and manufacturing more powerful batteries were of the utmost priority. However, as the competition heats up with the entry of new players, securing stable profits through partnerships with automakers has emerged as the key trend, which Samsung SDI is refusin

Jan. 23, 2022

2021 was 2nd hottest year on record: KMA

Last year was the second hottest year for South Korea on record as climate change continued to drive up global temperatures, the national weather agency said Sunday. A report from the Korea Meteorological Administration said South Korea’s average temperature for 2021 reached 13.3 degrees Celsius, becoming the second-hottest year since data were compiled from 1973. The record follows 13.4 degrees reached in 2016. By region, last year was the hottest year on record for Seoul, Incheon, Gye

Jan. 23, 2022