Korean tech firms keep eye on possible Russia export curbs

The escalating geopolitical tension between Russia and Ukraine is drawing attention to whether Washington will pose restrictions on exports to Russia, and the headache that could pose to South Korean electronics giants. The White House National Security Council has informally asked the Semiconductor Industry Association, a chip lobbying group in the United States, to brace for possible actions against Russia if it invades Ukraine, Reuters reported. The Joe Biden administration may attempt to c

Jan. 21, 2022

S. Korea's tech trade logs second-highest tally of $29b in 2020: data

South Korea's technology trade reached the second-highest tally ever of $29.9 billion in 2020, down 5.5 percent from the previous year, government data showed Friday. The technology trade refers to the country's international technology transactions, such as the use of patents, licenses and technical services, as opposed to tech products, according to the Ministry of Science and ICT. The ICT ministry said outbound technology transfers amounted to $12.8 billion in 2020, compared with imports of

Jan. 21, 2022

LG Energy Solution’s 4 strategies to prevent EV fires after IPO

LG Energy Solution will employ four preemptive measures as it can’t afford yet another recall crisis after going public next week. According to market analysts Thursday, the South Korean battery giant will adopt Z-folding technology, manufacture more batteries resistant to gas issues, directly manufacture key safety components and mount ESS with fire-resistant LFP batteries. Z-folding The adoption of Z-folding technology reflects LG Energy Solution’s determination not to repea

Jan. 20, 2022

Samsung, Vodafone launch first 5G open RAN site in UK

Samsung Electronics said Thursday that the Korean tech giant and UK’s telecom carrier Vodafone have launched the first fifth-generation open radio access network site in the UK. Supported by Samsung‘s virtualized RAN solutions, Europe’s first scaled commercial open RAN project built on Vodafone‘s architecture enabled the first virtual call on the open RAN infrastructure between Vodafone and UK government officials on Jan. 11. The deployment marks a milestone following V

Jan. 20, 2022

Korea aims to become 5th-largest metaverse market by 2026

South Korea will nurture 40,000 professionals and 220 companies specialized in metaverse technology to achieve its goal of becoming the fifth largest country in the global metaverse market by 2026, the government said Thursday. The Ministry of Science and ICT announced the country’s pan-governmental strategic blueprint to lead the new industry to respond to economic and social changes that will be brought by the metaverse and prepare for the future. In particular, authorities laid out

Jan. 20, 2022

Over one-third of S. Koreans paid subscribers to OTT platforms last year

Over 34 percent of South Koreans were paid subscribers to over-the-top (OTT) media, or video streaming services, a survey showed Thursday. Paid subscribers to OTTs stood at 34.8 percent last year, up 20.4 percentage points from the previous year, according to a survey of 6,834 people over the age of 13 by the country's media regulator, the Korea Communications Commission (KCC). South Korea's OTT usage rate rose to 69.5 percent, compared with 66.3 percent from the previous year, amid the stay-a

Jan. 20, 2022

Metaverse scramble exposes Samsung's software weakness

Samsung Electronics’ obsession for foldable smartphones is drawing market concerns as the South Korean tech giant is missing out on what’s coming next: The metaverse. According to market tracker Counterpoint Research Wednesday, Samsung remained as the No. 1 global smartphone brand by market share in 2021, but its smartphone business by sales grew just 0.9 percent on-year, drawing a big comparison with Apple’s 25.5 percent and Xiaomi’s 35.1 percent. Though growth has ap

Jan. 19, 2022

LG Electronics mulls Middle East HQ in Riyadh

In the face of the Saudi Arabian government’s pledge to attract foreign companies to relocate their regional headquarters to its capital city of Riyadh, LG Electronics is being pressured to move on par with other multinational companies. According to LG Electronics and news reports, the tech company, dedicated to manufacturing TVs, monitors, laptops and home appliances, is considering establishing regional headquarters that oversees its operation in the Middle East and Africa, covering s

Jan. 19, 2022

Korea to invest additional W400b in AI chips

The South Korean government said on Wednesday it will invest 402.7 billion won ($337.4 million) in the development of processing-in-memory (PIM) chips, in addition to the 1 trillion won it pledged earlier to spend on artificial intelligence semiconductors over nine years to 2029. PIM semiconductors are known as next-generation AI chips with higher processing efficiency. The Ministry of Science and ICT said it discussed ways to advance the AI industry with AI experts from Samsung Electronics, L

Jan. 19, 2022

KT teams up with Russia’s Yandex to debut delivery robots

South Korean telecom carrier KT looks to launch autonomous delivery vehicles in Korea before the end of 2022 by partnering with Russian autonomous rover maker Yandex Self-Driving Group, KT said Tuesday. The two companies have signed a memorandum of understanding at a Yandex office in Moscow, and are at an early stage of cooperation to integrate KT‘s artificial intelligence and digital capability with Yandex’s self-driving technology. KT added the MOU, in addition to its launch pla

Jan. 18, 2022

Samsung unveils Exynos 2200 mobile processor with AMD’s GPU

Samsung Electronics said Tuesday it has teamed up with California-based chip maker Advanced Micro Devices to unveil its flagship Exynos 2200 processor chips for mobile phones, in a delayed announcement by a week. The partnership with AMD in Samsung’s processor business has boosted energy efficiency and graphic processing performance compared to predecessors like Exynos 2100, the company said. Manufactured in Samsung‘s cutting-edge 4 nanometer extreme ultraviolet lithography proces

Jan. 18, 2022

KT, Shinhan ink cross-shareholding deal to forge digital alliance

South Korea’s No. 2 telecom carrier KT and the nation’s second-largest banking group Shinhan Financial Group said Monday that they have forged a new alliance to spur collaborations on futuristic technologies in a cross-shareholding deal. Under the deal worth 437.5 billion won ($367 million), KT will acquire a 2.08 percent stake in Shinhan Financial Group, while Shinhan Bank, the group’s banking unit, will in return acquire a 5.46 percent stake in KT. As the result of the tr

Jan. 17, 2022

LG Uplus names ex-AT&T data expert as new data chief

South Korean telecommunication company LG Uplus has named Gabe Hwang, former executive at AT&T and WarnerMedia, as its inaugural chief data officer in its push for an innovation to enhance consumer experience and boost productivity, the company said Monday. Hwang will lead data-related businesses of LG Uplus from delivering data capabilities for client to the company’s artificial intelligence integration and digital transformation. Hwang’s addition will allow LG Uplus to

Jan. 17, 2022

Mask fraud alert: Dating apps crack down on heavily masked profiles amid complaints

Wearing a mask has become commonplace during this pandemic. Though the act is often encouraged to stop the spread of COVID-19, there is one place where it is definitely frowned upon – dating apps. Users say profiles with only masked up photos can be misleading. Amid growing complaints, some dating app operators are cracking down on those considered a “magikkun” -- a portmanteau from the English word “mask” and the Korean word “sagikkun” which means a fr

Jan. 17, 2022

[Market Eye] Korean tech giants fall prey to patent trolling

Though the pandemic has driven record-breaking profits for tech firms as demand for at-home leisure and communication hardware rises, it has also stoked a growing threat coming from patent trolls. Companies specializing in exploiting patent rights have been buying up intellectual property from firms struggling amid the pandemic and using it as ammunition against Korean firms. The approach is often seen as a “file-and-settle” strategy, as their targets would often prefer to avoid f

Jan. 16, 2022

LG's large-capacity washers beat Whirlpool's in Consumer Reports ratings

LG Electronics’ large capacity washing machines topped in a rating by Consumer Reports released a week prior, beating US rival Whirlpool‘s products in performance of washing more clothes at once, according to the industry Sunday. LG’s front-load washer WM9000HWA, one of the models under its LG Tromm brand, was ranked the highest in Consumer Reports‘ best large-capacity front-loaders rating for 2022. The model features a 147.2-liter capacity and LG’s own TurboWash

Jan. 16, 2022

Samsung’s removable-battery smartphone returns

Samsung Electronics on Friday debuted its new Galaxy XCover Pro, a rugged smartphone that features a removable battery, a feature long gone in today’s smartphone market. The compact phone, priced at 275,000 won ($231.80), comes in black and white and features a 5.3-inch LCD display as well as a waterproof and dustproof body. The most distinctive feature is a 3,000 mAh replaceable battery that lasts long enough for all-day use and supports a quick charge rate of up to 15 watts. Upon its

Jan. 14, 2022

[Market Eye] Why Samsung, LG hold on to LCD panels despite slowing profitability

It appears too soon to say that Samsung Display and LG Display, the nation’s top display makers, will exit from the less lucrative LCD market amid a cutthroat competition with Chinese rivals with cheaper pricing. Until a few years ago, the two firms had hinted at retiring from the old-school LCD business to focus on more advanced technologies such as upgraded LCDs or OLEDs to widen the gap with Chinese runner-ups. But experts here say there has been a sign of change in the attitudes mor

Jan. 13, 2022

Gov't vows to support digital transformation of auto industry

The South Korean government said on Thursday it will standardize automotive data and promote intelligent manufacturing by carmakers and parts makers as part of efforts to support digital transformation of the auto industry. The aim is to turn 1,200 automotive component makers into future car companies by 2030, the Ministry of Trade, Industry and Energy said in a statement. The ministry said it will secure eight petabytes of automotive data, which is more than 10 times what is currently in stor

Jan. 13, 2022

ABL Bio signs $1.06b deal with Sanofi for Parkinson’s disease treatment

ABL Bio has signed a contract worth up to $1.06 billion (1.27 trillion won) with French pharmaceutical firm Sanofi to co-develop ABL301, an antibody treatment candidate for degenerative brain diseases including Parkinson’s disease, the Korean biotech company said Wednesday. ABL Bio will receive $75 million in down payments, according to the deal. The Korean biotech company will also be able to rake in up to $985 million depending on the success of clinical trials, regulatory approval and

Jan. 12, 2022