S. Korean tech firms to show off latest innovations at CES 2023

South Korean tech companies are ready to showcase their latest products and innovative technologies at CES 2023, the world's largest consumer electronics show slated to open in Las Vegas next week. CES will be held in a bigger and more fully in-person fashion this time, with global tech giants like Google, Meta and Microsoft physically returning to the global stage for innovation after missing the previous one due to the fast spreading omicron variant. CES 2021 was held entirely online. The

Dec. 29, 2022

Typing without keyboard becomes reality

A group of researchers led by South Korean scientists have developed the world’s first meta-learning electric skin technology that enables typing without a keyboard, the Ministry of Science and ICT said Wednesday. The research team of Jo Sung-ho, a computing professor at Korea Advanced Institute of Science and Technology, Ko Seung-hwan, a mechanical engineering professor at Seoul National University and Zhenan Bao, a chemical engineering professor at Stanford, came up with a “spray-o

Dec. 29, 2022

KT CEO seeks second term on upbeat sales

South Korean telecom giant KT Corp. said Wednesday it has appointed its incumbent CEO, Ku Hyeon-mo, as the final candidate to take the helm at the company. The company’s CEO candidate review committee on the same day assessed whether Ku was eligible for a second three-year term. After conducting preferential reviews for seven times, the committee informed the company’s board of directors that Ku is qualified. The KT CEO will be elected at the regular general meeting of shareholders

Dec. 28, 2022

Inappropriate senior management practices surge among firms

The inappropriate behavior of senior management and a lack of financial control saw the largest increases among causes of Korean companies' internal control problems in 2022, according to the K SOX Audit Review published by Samjong KPMG, a Seoul-based consulting firm, Wednesday. A total of 46 cases of inappropriate behavior or negligence of senior management were spotted among Korean companies, surging from 18 cases last year, the report said. Companies that did not have proper financial co

Dec. 28, 2022

[Best Brand] Eco Farm City innovates farming with integrated system

South Korean agricultural corporation Eco Farm City has developed what it calls “KDS convergence farming,” which systematizes the cultivation, production, processing, manufacture, sales and retail process of farming into a collective “one-stop system.” KDS convergence farming combines primary industries, such as agriculture, livestock and fisheries, with the secondary industries of manufacturing and processing, as well as the tertiary service industries. This integration

Dec. 28, 2022

[Best Brand] Come In Wash eyes overseas markets with car wash machines

Automatic car wash system company Come In Wash has recently completed the construction of a new factory in Yongin, Gyeonggi Province, to produce automotive washing machines and export them. Over 10 billion won ($7.82 million) has been injected into the project to acquire and renovate a 3,3000-square-meter plot in the city. The company said it will manufacturer automatic car washing machines at the new plant with an aim to export them to North America, Europe and the Middle East. The product line

Dec. 28, 2022

[Best Brand] KYE Dermatology Clinic, a pioneer in Korea's dermatology treatments

Celebrating its 61st anniversary this year, KYE Dermatology Clinic said it has treated over 8 million patients since it opened in 1961. The clinic started out as a one-office hospital, operated by one doctor in 1961, about a decade after the Korean War, in Yeongdeungpo-gu, western Seoul. Pioneering the field of dermatology in Korea, the clinic was refurbished in 1981, growing from its original one-doctor, one-office system to a facility with nine-doctors and seven offices and over 30 employees.

Dec. 28, 2022

[Best Brand] The IB Korea expands cocktail lineup

Beer and liquor importer The IB Korea is extending its product lineup by launching US cocktail brand Uptown’s Blue Hawaiian cocktail drinks, together with Texas-based distillery Southern Champion. Uptown's Blue Hawaiian lineup consists of two cocktail drinks, pineapple and citrus-flavored, as well as gluten free. Pre-orders for retailers have been made since June, the importer said. Premixed and bottled in a 1.5-liter liquor bottle, the drink garnered a lot of interest at a tasting ev

Dec. 28, 2022

[Best Brand] Coway Mine aims to reignite competition in massage chair market

South Korean home appliance maker Coway is renewing its push for growth in the expanding domestic massage chair market with its brand-new massage chair "Mine." The chair, despite being 47 percent smaller than the company’s previous models, features several innovative functions. The Mine, equipped with a 180-degree rotational module, can change into a full-flat recliner. The chair offers multiple options, with five automatic massage modes and five manual massage modes that can be

Dec. 28, 2022

[Best Brand] Victorinox expands presence in collaboration with Korean fashion brands

Swiss knife and watch manufacturer Victorinox is increasingly collaborating with South Korean companies to expand its presence in the Korean fashion market. The Swiss toolmaker launched a limited edition huntsman knife with Korean fashion design firm IAB Studio in May. Released as part of the “IAB at Home” collection, the knife has a wooden frame with the knife maker’s iconic cross logo carved in the middle. More recently, Victorinox partnered with Italian street fashion brand

Dec. 28, 2022

[Best Brand] Samsung C&T to host Moomin exhibition at Raemian Gallery

Samsung Group’s construction arm Samsung C&T is hosting an exhibition titled “Moomin Family’s Winter House” at Raemian Gallery in Songpa-gu, Seoul, for two months starting Dec. 15. The temporary exhibition featuring Moomins will be held at the gallery’s main hall and residential exhibition hall "Residential Island," the construction company said. Moomins are characters created by Finnish artist Tove Marika Jansson, based on trolls that frequently appea

Dec. 28, 2022

[Photo News] Convertible Laptop

Samsung Electronics on Wednesday unveiled its Galaxy Book2 Pro 360, a 2-in-1 laptop with a 360-degree hinge that flips from PC to tablet in a snap, while offering a touch screen and S Pen. The product is equipped with the Qualcomm Snapdragon 8cx Gen 3 processor. It rolls out on Jan. 16.

Dec. 28, 2022

Samsung CEOs hold rare meeting amid recession woes next year

South Korea’s largest conglomerate Samsung Group recently held a rare gathering of CEOs of all affiliates in an apparent move to ramp up preparedness for a global economic downturn next year coupled with falling chip prices, unfavorable currency rates and further rate hikes, according to industry sources on Wednesday. The high-level meeting was convened at the Samsung Electronics Leadership Center in Yongin, Gyeonggi Province on Monday, according to industry sources who wished to remain

Dec. 28, 2022

[Newsmaker] Danuri successfully enters lunar orbit

South Korea’s first lunar mission Danuri has successfully entered lunar orbit, the Ministry of Science and ICT and the Korea Aerospace Research Institute said Wednesday. With Danuri’s successful entrance into lunar orbit, South Korea has become the seventh country in the world to have capability to explore the moon. Danuri, also known as the Korea Pathfinder Lunar Orbiter, began circling around the moon at the targeted orbit altitude of some 100 kilometers above the lunar surface on

Dec. 28, 2022

[Photo News] Futuristic cockpit

LG Display said Wednesday it will showcase a futuristic digital cockpit using plastic-based organic light-emitting diode panels at the upcoming CES trade show in Las Vegas next month. Themed around “Advanced Mobility Lifestyle,” the display maker plans to set up an exhibition booth exclusively for automotive clients, including carmakers and parts makers. (LG Display)

Dec. 28, 2022

Posco delays leadership reshuffle amid recovery efforts at steel mills

South Korean steel giant Posco Group’s year-end executive reshuffle is expected to be delayed to next year, possibly later in January, amid the still ongoing efforts to normalize its typhoon-hit steel mills, industry sources said Wednesday. In September, Posco had to suspend the operation of its Pohang steel plants after key facilities were hit hard by a power outage caused by typhoon Hinnamnor. Considering the recovery work is speeding up to be completed by the end of January, sources sai

Dec. 28, 2022

LG to debut ThinQ UP upgradable appliances in US

LG Electronics said Tuesday it is launching its “upgradable” home appliance brand LG ThinQ UP in overseas markets, starting with the US. Debuted as UP Appliance in Korea in January, the brand allows customers to add new features to their existing LG appliances through software updates. Currently, the product lineup consists of 24 different appliances, including washing machines, refrigerators, dryers and dishwashers. As of December, over 120 upgrades are available in Korea. Largely b

Dec. 28, 2022

Genshin Impact-themed Samsung foldable phones sell out in 14 minutes

Genshin Impact, an open-world action role-playing game, or RPG, has demonstrated its popularity once again as the game-inspired Samsung Electronics foldable smartphones and earbuds sold out shortly after they went on sale last week. According to Chinese game and animation studio HoYoverse, the 100 units of the Genshin Impact edition of the Galaxy Z Fold 4 and the 200 units of the game-themed Buds 2 Pro earbuds were all gone only 14 minutes after they became available for purchase on Samsung'

Dec. 28, 2022

Seoul shares open sharply lower on Wall Street losses

Seoul shares opened nearly 2 percent lower Wednesday on a decline in US stocks overnight. The benchmark Korea Composite Stock Price Index dropped 40.75 points, or 1.75 percent, to 2,292.04 points in the first 15 minutes of trading, marking the first time in two months that the Kospi stayed below the 2,300 mark. Overnight, major US stock indexes closed lower on the beginning of the holiday-shortened trading week, as investors wait for the upcoming release of the Federal Reserve's meeting min

Dec. 28, 2022

Corporate direct financing grows in November on expanded rights offering

Corporate direct financing in South Korea expanded in November thanks to an increase in rights offering on the stock markets, data showed Wednesday. Local companies raised a combined 10.22 trillion won ($8.05 billion) by selling stocks and bonds last month, up 16.3 percent from a month earlier, according to the data from the Financial Supervisory Service. Direct financing refers to raising funds directly from the stock and bond markets without borrowing from banks or other financial institutions

Dec. 28, 2022