Samsung Electronics said Friday it will hold a global strategy conference with its top executives from regional branches overseas and business unit heads in Korea next week under the theme of “businesses in a low-growth era.” The company’s vice chairman Lee Jae-yong and three chief executives ― Kwon Oh-hyun, Yoon Boo-keun and Shin Jong-kyun ― will join the conference, which is regularly held twice a year.Attention is being paid to whether the top Samsung executives in the conference would discus

Technology Dec. 12, 2015

The Seoul Central District Court on Friday acquitted LG Electronics’ home appliance and air solutions CEO Jo Seong-jin and his two aides on charges of wrecking washers of rival company Samsung Electronics, citing a lack of evidence.Samsung filed lawsuits earlier this year against Jo and a top executive for damaging its washing machines at the SATURN Berlin Europa-Center and SATURN Berlin Steglitz in Germany during the IFA trade show in September last year. Another public relations executive was

Technology Dec. 12, 2015

The leaders of South Korea and the Czech Republic discussed ways to bolster economic cooperation particularly regarding the central European state’s large-scale infrastructure projects including the construction of a nuclear power plant during their summit in Prague on Wednesday. Czech President Milos Zeman(right) greets South Korean President Park Geun-hye during their summit in Prague on Wednesday. (Yonhap)President Park Geun-hye and her Czech counterpart Milos Zeman explored possibilities to

Foreign Affairs Dec. 2, 2015

Expectations are reaching new heights for Korea’s first online-only banks, or direct banks, to spark enormous changes not only in the country’s 120-year-old financial sector but also in other industries including information technology and retail.The financial authorities have given preliminary approval to two consortiums ― Kakao Bank and K-Bank, led by mobile messenger creator Kakao and mobile carrier KT, respectively ― to set up the banks with no brick-and-mortar branches. They will be the fir

Technology Nov. 30, 2015

With the change of time and technology come new challenges for companies in running their businesses. Design gurus said companies should adapt to fast-changing business environments by building their own identity through design.“We have now arrived in the digital age, which poses a challenge against building a brand,” said Bob van der Lee, president of Amsterdam-headquartered branding agency Total Identity, in a speech at the fifth Herald Design Forum in Seoul on Tuesday. Bob van der Lee (Park H

Technology Nov. 10, 2015

KISTEP head Park Young-ah speaks at a session of the science summit meeting in Daejeon on Monday. KISTEPDAEJEON -- The head of the Korea Institute of Science and Technology Evaluation and Planning vowed Monday that the policy-planning agency would make its utmost efforts to beef up Korea’s science and technology sectors.Noting that low productivity, population aging and weak domestic demand are the prime reasons for the nation’s slowing growth rate, KISTEP president Park Young-ah said the instit

Technology Oct. 23, 2015

Science and technology ministers and experts started discussions on ways to sustain growth through technology innovation during a global science summit that opened in Daejeon on Monday.Also on the agenda are steps needed to iron out imminent global issues, such as climate change and infectious diseases, through science and technology. Prime Minister Hwang Kyo-ahn (center, front row) poses with key participants in the OECD Ministerial Meeting and World Science and Technology Forum after attending

Technology Oct. 19, 2015

LG Group chairman Koo Bon-moo has asked top executives of affiliates to make swift moves to survive the fast-changing business environment.“Uncertainties of the global economy are intensifying due to the looming slowdown in the Chinese economy, and global competition is heating up day by day,” the LG Group chairman said in a meeting with high-ranking officials Tuesday, adding, “We should face up to the reality and brace for the future thoroughly.” He asked the heads of the LG Group affiliates to

Technology Oct. 6, 2015

Tech giant Samsung Electronics said Thursday it launched a committee to handle compensation issues for those who were diagnosed with leukemia while working at the company’s semiconductor factories.The seven-member compensation committee will consist of four experts in labor, industrial medicine, industrial policy and social policy segments and three respective representatives for the company, the workers and the families of those leukemia patients. Hwang Sang-ki, the father of Hwang Yu-mi--a for

Technology Sept. 3, 2015

Michael Grund, the head of chemical firm Merck Korea, said that maintaining strong partnerships with Korean firms was key to running a successful business here. “We need reliable partners and we strongly believe in the power of partnership,” said the Merck Korea chief in a speech at the Half-Year Economy Outlook Conference 2015 hosted by the Korean-German Chamber of Commerce and Industry in Daegu on Thursday.The meeting, attended by top executives of German firms operating in Korea and German go

Technology Aug. 28, 2015

Hidea Solution’s 4G-supported health care solution LivOn SilvercareKorean health care solution firm Hidea Solutions has launched the world’s first remote health care, or telecare, solution running on the Long Term Evolution, or 4G, network, dubbed LivOn Silvercare. The LTE-based telecare solution is aimed at enabling caregivers to monitor elderly or people with disabilities in real time and respond to emergencies in a swift manner.The LivOn Silvercare solution consists of a telecare base unit, a

Technology Aug. 26, 2015

LG Chem workers check the production line for membranes for reverse osmosis filters at the company’s plant in Cheongju, North Chungcheong Province. (LG Chem)South Korean chemical firm LG Chem said Wednesday that it had completed the construction of its plant for reverse osmosis water filters in Cheongju, North Chungcheong Province. The LG Group affiliate broke ground on the plant in August last year and has poured around 40 billion won ($33.7 million) into the construction. The plant will begin

Technology Aug. 26, 2015