Shares of robotics tech firms surged Monday following news reports that Samsung Electronics is setting up a new team solely dedicated to the robotics business, one of the frequently-cited new growth engines for the Korean tech giant. Yujin Robot, one of the first-generation robotics companies here with more than 30 years of history, saw a 30 percent jump in its stock price and was trading at 4,150 won ($3.52) as of 2 p.m., as investors cheered for its business potential with Samsung, the natio

Technology Dec. 13, 2021

Samsung Electronics said Monday its Bespoke water purifier, whose trade name is RWPaxy1bcde(z), has been certified by NSF International, a US-based product testing and certification organization, for removing microplastics from water – an industry first globally. Microplastics are tiny pieces of plastic, less than 5 micrometers in length, that are extremely difficult to detect. They are known to cause harmful effects to human body, including cell death and allergic reactions. NSF Intern

Technology Dec. 13, 2021

Samsung Electronics has promoted a swath of young executives in their 30s and 40s as part of its ongoing efforts to breathe fresh air into its rigid corporate culture. The Korean tech giant said Thursday a total of 198 executives, including eight executive vice presidents in their 40s and four vice presidents in their 30s, were promoted in its year-end executive reshuffle. Samsung said the latest reshuffle was carried out in line with its performance-driven culture, citing the company’s

Industry Dec. 9, 2021

Samsung Electronics said Wednesday that it was ranked 4th out of the top 150 global tech companies in an index that gauged corporate efforts in using technology ethically and for reducing digital inequality overall. The Korean tech giant’s ranking soared from last year’s 10th position from the World Benchmarking Alliance’s Digital Inclusion Benchmark, topping all of its Asian peers. The WBA is a global alliance of more than 200 global, regional and local organizations that

Technology Dec. 8, 2021

Samsung Electronics has replaced all its CEOs and combined its mobile and home appliance business divisions in a surprise move, ditching the decade-old system that landed the South Korean tech giant in the top position in smartphones, TVs and semiconductors. In a year-end leadership reshuffle announced Tuesday, the company said it was reorganizing its operational structure, which will now consist of a consumer business unit called the SET division and a chip business unit called the device solu

Industry Dec. 7, 2021

SK Group, the nation’s third-largest conglomerate, seems to be opting for stability rather than drastic changes in its year-end executive reshuffle, retaining all the CEOs at its key affiliates. While maintaining the top brass, 133 new executives are receiving promotions, the largest class in the past three years, in an apparent move to add weight to its new growth engine businesses that are still in their nascent phases with the potential to lead the group’s future. “Almos

Industry Dec. 2, 2021

SK hynix, the chip-making affiliate of SK Group, said Thursday that it has set up a new business unit solely dedicated to the US market where the memory chip giant has made a renewed push to secure a firm footing and expand partnership with local tech firms. The new unit, called American Business Team, is one of the three new units established under the direct influence of CEO Lee Seok-hee, as part of the company’s year-end executive reshuffle and organizational overhaul. The other two u

Technology Dec. 2, 2021

LG Electronics CEO Kwon Bong-seok has been named the chief operating officer of LG Corp., LG Group’s holding company, becoming the No. 2 man at the nation’s fourth-largest conglomerate, in a major executive reshuffle announced on Thursday. The 58-year-old was awarded with vice chairman title, joining the top brass assisting Chairman Koo Kwang-mo. The group currently has three vice chairmen: LG Energy Solution CEO Kwon Young-soo, LG Household & Health Care CEO Cha Suk-yong and LG

Industry Nov. 25, 2021

Samsung Electronics Vice Chairman Lee Jae-yong has returned home after a packed North American trip, with his vision for the “New Samsung” taking shape and putting a renewed emphasis on chip business. During his 10-day visit to the US and Canada, Lee held a series of meetings with prospective clients, partners and political leaders and finalized the tech giant’s $17 billion US fab investment. Upon his arrival in Seoul on Wednesday afternoon, the tycoon said the responsibili

Technology Nov. 24, 2021

The Korea International Trade Association said Monday that it will bolster the monitoring of supply chains for key materials in close cooperation with government agencies and the trading units of conglomerates, amid the protracted urea solution supply crunch. According to a recent study by the trade lobby, South Korea is heavily dependent on single countries for its supplies of 3,911 materials, with China making up almost half the total. Over the past 10 months, Korea relied on imports from

Industry Nov. 22, 2021

Lee Jae-myung, the presidential candidate of the ruling Democratic Party of Korea, has strongly criticized his archrival, Yoon Seok-youl of the main opposition People Power Party, for hinting at the possibility of canceling a symbolic inter-Korean military agreement, warning that the idea itself poses a serious threat to national security. On a Facebook post Wednesday titled “Candidate Yoon, please stop pushing in the wrong direction,” Lee lashed out at Yoon’s recent remarks t

Politics Nov. 18, 2021

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Social Affairs Nov. 18, 2021

Yoon Seok-youl, the presidential candidate of the main opposition People Power Party, said he could consider scrapping a symbolic inter-Korean military agreement if there is no sign of change in North Korea’s attitude, adding he would not seek a summit with the North’s leader Kim Jong-un “just for show.” “A promise can be kept when the partner keeps it. In the event I’m elected president, I would call for the North to carry out the Sept. 19 military agreemen

Politics Nov. 17, 2021

President Moon Jae-in and Richard Hatchett, CEO of Coalition for Epidemic Preparedness Innovation, held a meeting at Cheong Wa Dae on Tuesday and exchanged views on South Korea’s pandemic preparedness and its vision for a global vaccine production hub. Moon applauded CEPI’s leadership role in facilitating investment into vaccine development and manufacturing against COVID-19, which he said greatly helped in saving people’s lives around the world. “Since joining CEPI l

Politics Nov. 16, 2021

Cheong Wa Dae on Monday said that discussions are still underway to hold a trilateral summit between South Korea, China and Japan this year, denying a recent Japanese news report that Seoul has asked to postpone the meeting again. The three neighboring countries have held a summit every year under a rotation system, but last year’s Seoul meeting was canceled due to the coronavirus pandemic. With less than two months left in the year, expectations are low that a meeting will take place

Foreign Affairs Nov. 15, 2021