The space economy is expanding and becoming increasingly global, and South Korea is leaping forward as a space powerhouse, a high-ranking official at the Korea Aerospace Research Institute said at the 2023 Korea Herald Humanity In Tech, or HIT Forum, held at The Shilla Seoul on Wednesday. With innovative technologies and massive investment, both governments and companies around the globe have secured space assets because they can directly impact the state’s survival in terms of security, a

Technology Oct. 11, 2023

Samsung Electronics predicted Wednesday that its operating profits in the July-September period would recover to exceed 2 trillion won ($1.5 billion) after months of efforts to elevate profitability amid memory chip slump. Samsung's third-quarter operating profits is estimated to hit 2.4 trillion won, a 77.9 percent plunge from a year ago, according to the company’s earnings guidance. The figure exceeded the 2.2 trillion won consensus by local analysts provided by market intelligence

Technology Oct. 11, 2023

LG Electronics said Tuesday it expected its third quarter operating earnings for 2023 to climb 33.5 percent from a year before, amid the strong performance of its home appliance and vehicle component solutions units. LG estimated that its operating profit for the July-September period came in at 996.7 billion won ($738 million), compared with 746.6 billion won a year ago, according to the company’s earnings guidance. The home appliance maker’s earnings guidance for the July-September

Technology Oct. 10, 2023

The decision by the US government to allow Samsung Electronics and SK hynix to supply chip equipment to their China factories indefinitely without separate approvals has given South Korean chipmakers some breathing room. Market watchers, however, believe that uncertainties in the semiconductor industry remain due to the ongoing US-China trade conflict. Despite Washington’s indefinite waiver given to the world’s two biggest memory chipmakers, they still face limitations in expanding t

Technology Oct. 10, 2023

South Korea's telecommunications watchdog said on Friday it seeks to slap up to 68 billion won ($50.4 million) in combined fines on US tech giants Google and Apple for violating the country's in-app payment laws. The move came after the Korea Communications Commission launched a probe into Google Play and App Store in August 2022 for forcing local app developers to use specific in-app payment methods and causing unfair delays in the review of local apps. The commission called on the co

Industry Oct. 6, 2023

Samsung Electronics unveiled its next-generation flagship mobile processor, the Exynos 2400, equipped with the latest graphics and generative artificial intelligence technology during its inaugural Samsung System LSI Tech Day 2023 event at its Device Solutions America office in San Jose, California, on Thursday. The Exynos 2400 processor uses the Xclipse 940 graphics processing unit, under the California-based semiconductor maker Advanced Micro Devices’ latest chip architecture codenamed

Technology Oct. 6, 2023

Apple’s has been hit by criticism in Korea once again over the price of its latest flagship smartphone series, while the US tech giant is set to take preorders starting Friday, a week ahead of the official release here. A significant decline in the exchange rate has resulted in an actual increase in the shipment price of Apple’s new smartphones despite its public decision to freeze prices, according to Rep. Park Chan-dae of the country’s main opposition Democratic Party of Kore

Technology Oct. 5, 2023

Samsung Electronics Chairman Lee Jae-yong traveled to key locations of Samsung's business in Saudi Arabia, Egypt and Israel during the six-day Chuseok holiday in South Korea to explore new business opportunities in the region, the tech giant said. Lee’s latest trip to the Middle East came nearly 10 months after he visited the construction site of the Barakah nuclear power plant in the United Arab Emirates in December last year as his first official overseas trip as the executive chair

Industry Oct. 3, 2023

The CEO of SK Telecom, South Korea's largest wireless carrier by subscription, unveiled on Tuesday the company's roadmap to leap forward as a global artificial intelligence firm within the next five years by expanding its business and technology based on its AI assistant service, A. At a press conference held in Seoul earlier in the day, the telecom giant's chief Ryu Young-sang introduced the firm's new "AI pyramid strategy," which focuses on three major areas: AI i

Technology Sept. 26, 2023

Apple’s latest flagship smartphone series will likely launch in South Korea next month, according to industry sources Friday. Apple is preparing to sell its new smartphones -- the iPhone15, iPhone15 Plus, iPhone15 Pro and iPhone15 Pro Max -- on Oct. 13 in Korea, taking preorders a week ahead of the official release here, sources said. If the tech giant rolls out its latest smartphone lineup on that date in Korea, it will be about a month after the company first unveiled the iPhone 15 serie

Technology Sept. 22, 2023

South Korea’s antitrust regulator said Thursday it is imposing a fine of 19.1 billion won ($14.2 million) on US chipmaker Broadcom, along with a corrective order, for its unfair business activities against Samsung Electronics. The move came after the US chipmaker forced Samsung to sign a long-term contract to use its telecommunications components in 2020 by abusing its market dominance and using unlawful tactics, including cutting off its supply and technical support, the Fair Trade Commis

Technology Sept. 21, 2023

South Korea's new Industry Minister Bang Moon-kyu on Wednesday vowed sincere efforts to expand exports for the country’s economic growth and to restore the ecosystem of nuclear power plants here swiftly. “We will do our best to expand exports that will revive our economy. … It’s important to expand private investment to spread export momentum. For this, the government will mobilize all resources and capabilities,” Bang said in his inaugural speech. Korea'

Industry Sept. 20, 2023

Samsung Group’s guide dog school, which began operations after the late Chairman Lee Kun-hee’s new management declaration in September 1993, celebrated its 30-year anniversary Tuesday. Samsung held a ceremony commemorating the occasion at Samsung Guide Dog School in Yongin, Gyeonggi-do, sharing gratitude for the late chairman’s insights, philosophy and passion for his dogs. Lee Kun-hee established Korea’s first school for dogs, aimed at training them for work with the vis

Industry Sept. 19, 2023

SK Broadband Co., a major South Korean internet service provider, said Monday that it will end a yearslong legal battle over network usage fees against US streaming giant Netflix. “We agreed to withdraw all disputes in the interests of the greater success of both companies, reflecting the common intention of putting values on customers first,” an SK Broadband official said without giving details of the agreement. “But our position on the necessity of network usage fees remains

Industry Sept. 18, 2023

South Korean IT solutions provider LG CNS said Sunday it has teamed up with a Chinese artificial intelligence-powered robotic solutions firm to carry out joint projects in domestic e-commerce logistics centers. The two firms signed a memorandum of understanding to integrate Shanghai-based XYZ Robotics’ robot solutions with LG’s robotic integrated operations platform. Additionally, all robot solutions provided by the newly integrated platform will be offered via the robot as a service

Industry Sept. 17, 2023