LG Innotek said Wednesday that it has applied for some 3,500 patents related to automotive parts over the past five years, seeking leadership in the field of futuristic mobility. Almost 40 percent of the patents are for electric vehicles, one of the company’s new growth drivers. They cover diverse EV and autonomous driving technologies, including LiDar sensors, cameras, lighting and communication modules. LG Innotek said it is also accelerating efforts to secure standard patents as they ar

Industry Aug. 28, 2024

Korean mobile app store operator One Store said Wednesday that it aims to expand globally with Taiwan being the first strategic market. “Our hyper localization strategy involves partnering with local companies globally to tailor services specifically for each region, aiming to compete with global monopolies on a global scale," CEO Chun Dong-jin said during a press conference in Seoul, earlier in the day. "One Store aims to become the most competitive app market globally by 2030.&

Industry Aug. 28, 2024

Samsung Electronics, the world's No. 1 memory chipmaker, said Tuesday that it has partnered with US chip giant Qualcomm Technologies to produce advanced chips for diverse automotive solutions. The Korean tech giant said its latest automotive LPDDR4X memory has been successfully qualified for use with Qualcomm’s Snapdragon Digital Chassis. The product is set to be applied in premium in-vehicle infotainment and advanced driver-assistance systems. Samsung’s automotive LPDDR4X quali

Technology Aug. 27, 2024

Japan’s Kioxia Holdings, the world’s third-largest NAND flash memory company, applied to list on the Tokyo Stock Exchange on Friday, making it the largest stock debut since SoftBank in 2018. Now keen attention is being paid to SK hynix, the world's No. 2 maker of memory chips, which has invested 4 trillion won ($3 billion) in the Japanese rival. With the aim for an October initial public offering, Kioxia is expected to achieve a market capitalization of over 1.5 trillion yen ($1

Industry Aug. 26, 2024

South Korea’s top chaebol leaders are set to join President Yoon Suk Yeol on his state visit to the Czech Republic next month, according to industry sources Sunday. Yoon’s Czech visit comes after a Korean consortium, led by Korea Hydro and Nuclear Power, was recently named a preferred bidder for a major nuclear plant project in the European country. The project size is estimated at around 24 trillion won ($17.3 billion). Along with the mega project, the summit is expected to cover to

Industry Aug. 25, 2024

Samsung Electronics said it is confident in maintaining its No. 1 position in the global TV market by widening the gap with Chinese rivals with its advanced artificial intelligence technology. “We believe that AI TVs will be a unique differentiator that other companies do not offer, as it is not just a TV but a platform that can connect various devices customers own,” Yong Seok-woo, president and head of visual display business at Samsung Electronics, said during a press conference i

Technology Aug. 22, 2024

A Seoul court on Thursday ordered SK Group Chairman Chey Tae-won and his live-in partner to pay 2 billion won ($1.50 million) in alimony to his estranged wife and the director of Art Center Nabi, Roh Soh-yeong. The Seoul Family Court ordered in a lawsuit seeking damage, filed by Roh against Chey’s partner Kim Hee-young, who is serving as the chair of T&C Foundation, that the defendant should jointly pay 2 billion won to the plaintiff along with the SK chief. “Based on the submitt

Industry Aug. 22, 2024

SK Telecom, South Korea's largest wireless carrier by membership, said on Wednesday that it will open an artificial intelligence data center in Seoul in December by joining hands with US-based graphics processing units-as-a-service provider Lambda. The decision comes as the two sides signed a partnership deal for a joint AI cloud business as they agreed to establish a large-scale Nvidia GPU cluster to support AI cloud business opportunities here, according to SK Telecom. Lambda is a company

Industry Aug. 21, 2024

Daum, once solidly the No. 2 player in the online search market in Korea, has lost ground to foreign rivals here. Its parent company Kakao is betting heavily on artificial intelligence to revive the ailing portal site, but industry watchers remain skeptical of its strategy, which has yet to be made public. According to web log analysis site Internet Trend on Tuesday, Daum ranked No. 4 in the domestic web search market as of Friday, with its market share falling from 4.41 percent a year ago to 3.

Industry Aug. 20, 2024

SK Group kicked off its annual Icheon forum -- one of the biggest gatherings of its top executives -- in Seoul on Monday to explore strategies for expanding the artificial intelligence ecosystem and reinforcing the value of SK Management Systems, the group’s unique philosophy introduced by former SK Chairman Chey Jong-hyun about half a century ago. About 100 guests and speakers from both Korea and abroad, together with Chairman Chey Tae-won, Executive Vice Chairman Chey Jae-won and SK Supe

Industry Aug. 19, 2024

SK Networks said Friday it will commit $30 million in a $130 million fund formed by SBVA to invest in artificial intelligence startups. It is the second-largest investment among fund participants. The SBVA-led fund -- Alpha Intelligence Fund -- plans to focus on investing in promising early-stage startups in the AI, robotics and deep tech fields. SK Networks, a general trading affiliate of SK Group, which announced its vision as an AI company this year, plans to go beyond fund investment and bus

Industry Aug. 18, 2024

SK hynix, the world’s No. 2 memory chipmaker, was the only company that elevated its market share in the soaring global DRAM market in the second quarter of this year, according to market tracker TrendForce Friday. In the April-June period, DRAM sales totaled $22.9 billion, a 24.8 percent jump from the previous quarter. Samsung Electronics, the world’s largest memory chipmaker, retained its No. 1 position with $9.8 billion in sales. But the company’s market share slightly decre

Industry Aug. 16, 2024

Samsung Electronics has retained its leading position in Southeast Asia’s major smartphone markets, but faces fiercer competition from Chinese rivals with cheaper pricing, according to an industry report Thursday. In the April-June period, Samsung held an 18 percent market share in five major countries -- Indonesia, the Philippines, Thailand, Vietnam and Malaysia -- according to the report by market tracker Canalys. The figure was down by 2 percentage points compared to a year ago, clo

Industry Aug. 15, 2024

Merck Korea, the Korean subsidiary of German science and technology juggernaut Merck, has showcased its materials intelligence with its participation at K-Display 2024, South Korea’s largest display exhibition. Merck enhances data interpretation and transmission by utilizing intelligence technologies, such as data processing and artificial intelligence, leading the advancement of the digital environment. It plays a crucial role in connecting users with data through display technologies. Un

Industry Aug. 14, 2024

LG Display is expected to get out of the red in the latter half of this year, largely buoyed by its increased panel shipments for Apple's new iPhones that debut next month, according to industry sources on Tuesday. Local researchers painted a rosy outlook for LG Display, which has begun stable production of the first batch of the panels for the new iPhone 16 series. The Korean panel maker is said to be responsible for almost 40 percent of the total panel supplies for the new iPhones. Accord

Industry Aug. 13, 2024