Talks for a rare partnership between Samsung and LG appear to have been resumed recently as Samsung seeks to buy LG panels for its latest OLED TVs for the first time, according to industry sources on Thursday. “The two have resumed related talks ... with an aim to sign a deal by the end of the first half this year,” an industry source said on condition of anonymity. Samsung Electronics is reportedly interested in buying around 200,000 to 300,000 white OLEDs from LG Display, and when

Industry April 20, 2023

South Korea's Industry Ministry said Wednesday the European Union's version of the Chips Act could provide as an "opportunity" for Korean manufacturers. The European Union agreed Tuesday to pass the 43 billion euro ($47 billion) Chips Act aimed at doubling the bloc's share of global chip output, from the current 9 percent to 20 percent by 2030. Countries around the world, such as the United States, China, Taiwan and South Korea, have been introducing state support progra

Industry April 19, 2023

LG Group Chairman Koo Kwang-mo inspected the cathode manufacturing plant of LG Chem, the group's chemical arm, on Tuesday, checking on the company's global supply strategy amid rising demand in the electric vehicle market. During his visit to the chemical firm's cathode manufacturing plant in Cheongju in North Chungcheong Province, Koo was briefed on the production and global supply strategy, LG said. “Cathodes are the foundation for securing a competitive edge in the batter

Industry April 18, 2023

The rare visit of Chinese President Xi Jinping to LG Display’s local manufacturing facility in China last week came as a surprise to South Korea’s display industry, raising both excitement and concerns over the intention behind the visit amid the intensifying Washington-Beijing tech rivalry. In his visit to the LG plant in Guangzhou, Guangdong Province on Wednesday, Xi underscored how China can provide an excellent ground for foreign businesses to thrive, and expressed hopes for fore

Industry April 16, 2023

Samsung Electronics said Friday its Bespoke Infinite built-in home appliance lineup has snatched a gold award at the International Forum Design Award 2023. This year, the tech giant has won a total of 80 awards -- a record figure -- at the German design competition. (Samsung Electronics)

Industry April 14, 2023

Amid the escalating US-China rivalry in recent years, South Korea’s conglomerates have struggled to strike a balance in their Chinese business. Even though no immediate breakthrough is seen in geopolitical tensions, Samsung Electronics and Hyundai Motor Group -- the nation’s top makers of smartphones and cars -- are seeking a turnaround in their reduced market shares in China, an all-important market that is too big to ditch. Samsung In its earnings guidance last week, Samsung pred

Industry April 12, 2023

LG Electronics introduced a new brand identity highlighting the value of its slogan “Life’s Good” to actively communicate with customers beyond generations and locations, the South Korean consumer appliance giant said Wednesday. The conglomerate shared its new brand communication guidelines with its employees all around the world, outlining a new direction for the brand for a younger and dynamic image, and ultimately, to establish itself as an iconic brand. “Having a stro

Industry April 12, 2023

Samsung Display, the display arm of Samsung Electronics, has clinched a deal to supply organic light emitting diode panels for Ferrari’s next generation automobiles, the company said on Tuesday. Samsung Display CEO Choi Joo-sun and Ferrari CEO Benedetto Vigna agreed for the Korean display maker to supply the OLED panels and support the luxury automaker’s latest effort for digital transformation, the company said. “Based on our extensive expertise in OLED technology, we are po

Industry April 11, 2023

South Korea and Britain agreed to strengthen cooperation on nuclear power and clean energy, releasing a joint declaration Monday. South Korean Industry Minister Lee Chang-yang met with British Minister of Department for Energy Security and Net Zero Grant Shapps in Seoul and agreed to work together to secure energy security and handle climate change, the Korean Ministry of Trade, Industry and Energy said. Exchanging their thoughts on the importance of energy transition, the two ministers issued a

Industry April 10, 2023

LG Electronics Chief Executive Officer Cho Joo-wan traveled to Vietnam, Indonesia and Thailand last week to inspect the company's key production facilities in Asia, the Korean consumer appliances giant said on Sunday. On the three-day tour, Cho met with the heads of the company's regional corporations and discussed ways to boost competitiveness and further dominance in the global market, LG said. The CEO also inspected the key plants that produce automotive parts, home appliances and T

Industry April 9, 2023

As South Korean business leaders play a key role in attracting support for Busan’s bid to host the World Expo 2030, LG Group’s top executives traveled around the world to win votes. In October last year, Chairman Koo Kwang-mo visited Poland to meet with Polish Prime Minister Mateusz Morawiecki, requesting the country’s support for Busan’s Expo bid. “Busan is South Korea’s second largest city, and it is also where LG first started its business. Busan is also wh

Industry April 6, 2023

South Korean President Yoon Suk Yeol (center), Samsung Electronics Chairman Lee Jae-yong (third from left) and other government and company officials pose for a photo at Samsung Display’s Asan Campus in Gyeonggi Province on Tuesday in celebration of the tech giant’s new 4.1 trillion won ($3.1 billion) investment into upgrading production lines of high-end display panels by 2026. Samsung said its planned investment could help facilitate related industrial ecosystems as well as the loc

Industry April 5, 2023

South Korea has proposed turning its first trade port in Busan, the North Port, into a big data center storing the history and legacy of Bureau International des Expositions, if it succeeds in its bid to host the World Expo in Busan in 2030. The Busan Expo bidding committee made the proposal to the BIE delegation while it was here for on a six-day inspection trip, which began Sunday. The next World Expo will take place in 2030, the year the BIE marking its 100th anniversary. Bidding to host the

Industry April 5, 2023

Experiencing a trade deficit for more than 13 consecutive months, South Korea will make pangovernmental efforts to lead a turnaround in trade, introducing support programs to foster key industries, the Trade Ministry said Monday. The Ministry of Trade, Industry and Energy said it held a trade inspection meeting in Seoul with related government agencies to find ways to deal with the continuing fall in trade. “While the country logged a massive trade deficit in January, the balance is gradua

Industry April 3, 2023

South Korean telecommunications giant KT Corp. is in shambles due to an unprecedented leadership vacuum, with not only its chief executive, but also almost all of its board members stepping down amid speculations of revolving door appointments. Just before the start of this year's regular shareholders meeting on Friday, KT's three outside board members -- Kang Chung-gu, Pyo Hyun-myung and Yeo Eun-jung -- announced their resignations, leaving the board in almost complete vacancy. Kim

Industry March 31, 2023