LG Electronics announced on Tuesday the commercial launch of the world’s first capsule-type automated beer maker in line with the growing home-brewing trend. The LG HomeBrew machine will be rolled out with a retail price tag of 3.99 million won ($3,390) in South Korea, including the price of receiving after-sales service for up to three years and 10-year warranty for the core inverter compressor. After inserting one capsule and water into the double-metal cylindrical machine, consumers can

Technology July 16, 2019

South Korea’s major business groups are shifting to emergency mode, setting detailed contingency plans for a variety of scenarios amid concerns that the restrictions on exports of key tech materials from Japan to Korea could stay in place for a long time, according to the industry on Monday. The leaders of the country’s five biggest conglomerates -- Samsung Electronics, Hyundai Motor Group, SK Group, LG Group and Lotte Group -- are tightening their reins on the groups’ operatio

Technology July 15, 2019

Concerns about the impact of the latest export restrictions imposed on South Korean companies by Japan are growing more intense as Samsung Electronics Vice Chairman Lee Jae-yong’s trip to Tokyo has gone on longer than many had expected, industry sources said Friday. Lee hopped on a jet to Tokyo on Sunday to meet with major suppliers of the three key materials for which new orders placed after July 4 will be scrutinized by the Japanese government. It was widely expected that the Samsung hei

Technology July 12, 2019

The latest restrictions on exports of key chip-making materials imposed by the Japanese government could be aimed at containing South Korea’s thriving semiconductor industry, a report claimed Friday. Park Sang-hyun, analyst at HI Investments & Securities said in a report that the rising tensions between Japan and Korea could be based not only on diplomatic issues but also the widening gap between the competitiveness of the Japanese and Korean semiconductor industries. “The Japan-

Technology July 12, 2019

Samsung Electronics’ goal of becoming the top logic chip provider by 2030 might be seriously hampered by Japan’s restrictions on exports of hi-tech materials, if the two governments fail to ease the diplomatic tensions soon, according to industry sources Thursday. The tech giant’s April announcement to be the world’s No. 1 in the system-on-chip market beyond memory chips is the first official task of its de facto leader Vice Chairman Lee Jae-yong. However, the latest Japa

Technology July 11, 2019

If Japan-imposed restrictions on exports of key tech materials to South Korea are extended in the long term, the curbs would benefit China while hurting both the Korean and Japanese economies, according to experts on Wednesday. Industry and economic experts here say that China would benefit the most from the Korea-Japan spat, as Chinese players would get a chance to step into the broken supply chain of the global electronics industry that has been led by Korean companies. According to Cho Gyeong

Industry July 10, 2019

Shin Hak-cheol, vice chairman and CEO of LG Chem, vowed Tuesday to make the company one of the world’s five biggest chemical companies in the next five years by doubling its revenue by 2024.  “LG Chem will reach 30 trillion won ($25.4 billion) in sales this year for the first time and 59 trillion won by 2024, becoming a global top five company,” Shin said during his first press conference since he took office in February. Shin is the first CEO of LG’s petrochemical a

Technology July 9, 2019

As South Korea continued to weigh its move against Japanese controls on exports of key materials to domestic tech companies, Samsung Electronics Vice Chairman Lee Jae-yong flew to Tokyo late Sunday to meet with his counterparts. 　Finding himself a de-facto channel for Korean industry, and possibly even the government, to relay Seoul’s stance and seek alternatives, Lee is likely to contact Sumimoto Chemical Chairman Hiromasa Yonekura, Mitsubishi Trading CEO Hironobu Abe and Ushio

Industry July 8, 2019

LG Household & Health Care, an affiliate of LG Group that manufactures cosmetics and household goods, has considered acquiring South Korean botulinum toxin maker Hugel as part of efforts to expand its “cosmeceutical” business, sources told The Korea Herald on Sunday. The LG affiliate was seeking financial investors early this year to acquire the domestic biopharmaceutical firm, which is developing patch-type BTX, an innovative alternative to the conventional injection form of the

Industry July 8, 2019

Masayoshi Son, chairman of Japanese conglomerate SoftBank, said Thursday he will make new investments in promising artificial intelligence businesses together with South Korean tech giants, hopefully this year. The IT business tycoon discussed plans to expand cooperation and investments on AI with the leaders of five top Korean tech companies, including Samsung Electronics Vice Chairman Lee Jae-yong, at Korea Furniture Museum in Seongbuk-dong, northern Seoul. In response to a question about the

Technology July 5, 2019

Samsung Electronics’ earnings for the second quarter of 2019 are forecast to show a slight improvement from the previous quarter due to recovery in the display business, according to its earnings guidance announced Friday. The South Korean tech giant is expected to post 56 trillion won ($47.8 billion) in sales with operating profit of 6.5 trillion won during the April–June period, the guidance showed. The figures hovered above market expectations that had estimated Samsung to registe

Technology July 5, 2019

With the summer vacation season now upon us, parents with school-aged children can visit city-run science centers for kids instead of crowded indoor playgrounds and shopping malls. The Seoul Metropolitan Government runs a center in Hagye-dong, Nowon-gu, where children and teens can have fun learning about science. The Seoul Science Center is a three-story building on 12,330 square meters of land, with four exhibition halls. It is the first city-run science museum in the northern part of the city

Culture July 5, 2019

Son Masayoshi, chairman of Japanese IT conglomerate SoftBank, highlighted the importance of investments in leading artificial intelligence businesses for Korea to become an advanced AI-powered country during a meeting with President Moon Jae-in on Thursday. In response to President Moon’s acknowledgement that Korea is a latecomer in the AI technology industry, Son said, “AI should (be) the top priority for Korea, and the country needs to focus on related education, policies, investme

Technology July 4, 2019

Samsung Electronics has completed fixing the flaw in the outer film of the Galaxy Fold and has set a retail price for the Korean market, according to company insiders Monday. In order to prevent the protective film on the outer layer of the foldable display screen from being taken off by hand, the company has decided to adopt a slightly bigger film to cover the entire screen and conceal the edges of the film underneath the screen’s bezel, a Samsung official told The Korea Herald.  Sin

Technology July 3, 2019

Amid rising tensions between South Korea and Japan over the latter’s restriction on exports of high-tech materials to Korean chip and display makers, the country’s fabless businesses turned their attention to Samsung Electronics at a forum held in Seoul on Wednesday. More than 500 officials from fabless and semiconductor equipment firms attended the 2019 Samsung Foundry Forum held at a hotel in southern Seoul to learn about Samsung’s foundry business plans for the year. The num

Technology July 3, 2019