All three South Korean lithium-ion battery makers saw alarming falls in their operating profits in 2019, but showed hopes that they could reap bigger profits from the growing electric vehicle battery market this year, according to the companies on Monday. Joining the announcements by Samsung SDI and SK Innovation last week, LG Chem said Monday its annual operating profit plunged 60.1 percent from 2018 to 895.6 billion won ($749 million) last year. Although the company posted its best sales

Technology Feb. 3, 2020

  Samsung Group on Thursday announced follow-up measures to “effectively beef up” compliance monitoring teams across its affiliates, including placing them under chief executives, with the intention of displaying its efforts to improve governance. A total of 11 affiliates -- including Samsung Electronics, Samsung SDI, Samsung C&T, Samsung Life Insurance and Samsung Heavy industries -- will introduce in-house compliance units at CEOs’ offices away from the current leg

Industry Jan. 30, 2020

Samsung Electronics posted a 52.84 percent on-year decline in operating profit in 2019 due to the sluggish memory and display panel markets, according to its earnings report released Thursday. However, prospects for the largest South Korean tech giant this year are bright going by its better-than-expected performance in the fourth quarter, company officials said during an earnings conference call. Overall, the company recorded 230.4 trillion won ($194.85 billion) in sales last year, down 5.

Technology Jan. 30, 2020

Samsung Electronics’ Galaxy Home Mini will likely be launched soon as the company plans to link the voice-activated AI speaker with most of its upcoming home appliances, according to its head of digital appliances on Wednesday. Lee Jae-seung, executive vice president and head of the digital appliances business at Samsung, highlighted the role of the artificial intelligence speaker that will connect almost all Samsung products this year during a press conference to unveil the company&rsqu

Technology Jan. 29, 2020

Amid rumors that the next edition of Galaxy Fold will feature a bigger screen and S Pen, speculations that it could replace the 10-year-old Galaxy Note series are gaining ground, according to industry sources Tuesday. Responding to news reports based on a recent tweet that the Galaxy Fold 2 will feature an 8-inch main display, ultrathin glass and S Pen support, parts suppliers here said they are preparing for mass production of the device scheduled for the second half of the year. However, t

Technology Jan. 28, 2020

Samsung SDS, an information and communication technology service arm of Samsung Electronics, has seen its brand value grow to 4.3 trillion won ($3.7 billion), a 6.5 percent increase compared to that of last year, the company said Monday.    In the latest edition of Brand Finance on IT companies, Samsung SDS was ranked 11th most valuable brand. The Samsung affiliate was the one of only two brands that rose in the IT service ranking, the company added. Samsung SDS recorded year-over-

Technology Jan. 27, 2020

Samsung Electronics said Monday its Vice Chairman and heir Lee Jae-yong flew to Brazil during the Lunar New Year holidays as part of efforts to check on the Korean tech giant’s major businesses in the Latin American market. Lee visited the production facilities for smartphones, TVs and other home appliances located in the free trade zone of Manaus, Amazonas, in the north of Brazil. The zone is home to around 500 global businesses. Brazil is the biggest economy in Latin America. For Sa

Technology Jan. 27, 2020

Samsung Electronics’ upcoming smartphones -- possibly including the clamshell device unofficially dubbed “Galaxy Z Flip” and the flagship Galaxy S20 series -- are expected to feature a new video chat service supported by Google’s Android system, according to sources on Wednesday. There are ongoing trilateral talks among device manufacturer Samsung, mobile carrier SK Telecom and Google on starting a video messaging service on Samsung’s Android-powered phones, a high-

Technology Jan. 22, 2020

Samsung Electronics said Tuesday it plans to give its chipmaking subcontractors a bonanza during the Lunar New Year holidays -- the biggest bonus since 2010 -- for their performance last year. The South Korean tech giant’s semiconductor division pays a total of 41.74 billion won ($35.8 million) to around 20,000 employees of primary and secondary contractors, marking the greatest sum in incentives for the second-half period since 2010. For the first half of last year, Samsung provided

Technology Jan. 21, 2020

Hanwha Techwin, a security solution subsidiary of Hanwha Aerospace, said Monday the company unveiled a new artificial intelligence-based security solution package at a tradeshow in Dubai with the goal of further expanding into the Middle East. The Hanwha unit took part in Intersec 2020, the largest security-related technology expo in Middle East, to introduce its Wisenet AI solution package consisting of AI-equipped closed circuit TV camera and network video recorder, which enables detections of

Technology Jan. 20, 2020

Samsung Electronics on Monday decided to retain its current chief executive officers for stability, while creating a new leadership position for the smartphone business to be held by a relatively young executive in his 50s.As part of its 2020 personnel reshuffle and organizational restructuring, Samsung announced appointments of four new presidents and adjustments in the positions of five current leaders. The announcement comes about a month and a half later than usual due to the lingering legal

Technology Jan. 20, 2020

Users of Samsung Galaxy smartphones and Samsung Cloud in South Korea are on high alert regarding personal security issues in the wake of private data thefts involving some celebrities. A growing number of Galaxy users here are checking on the security status of their gadgets to ensure they follow the recommended security guidelines. Samsung Electronics has notified users to enhance their phone’s security by activating the two-step verification mode that double-checks user authenticity when

Technology Jan. 19, 2020

The Hwaseong Fortress in Suwon, Gyeonggi Province, dates back to the latter part of the Joseon era (1392-1910).Designated a UNESCO World Cultural Heritage site in December 1997, the 5.74-kilometer-long fortress wall was constructed from 1794 to 1796, taking two years and nine months. The fortress was intended to display King Jeongjo’s filial piety toward his father and create a new city with its own economic power.Jeong Yak-yong, a prominent Silhak -- practical learning -- scholar, led the

Arts & Design Jan. 17, 2020

LAS VEGAS -- At the TV section of Best Buy Arroyo Crossing Parkway in Las Vegas -- the largest electronics retail chain in the US -- South Korea’s LG Electronics boasts its organic light-emitting diode TV lineup on its display wall next to competitors like Sony and Samsung Electronics. Among others, the latest 88-inch LG Signature OLED Real 8K model with the official 8K Ultra HD logo granted by US Consumer Technology Association stood out, capturing the attention of visitors with its stunn

Technology Jan. 13, 2020

LAS VEGAS -- Throngs of visitors from global cosmetics firms flocked to a suite on the 29th floor of the Venetian, where South Korean cosmetics behemoth Amorepacific privately offered them an opportunity to check out its latest skin care technologies during the Consumer Electronics Show last week. Although the company didn’t set up an open exhibition booth to trumpet its prowess, its first participation in the world’s biggest tech show was deemed successful as its global competit

Technology Jan. 13, 2020