Most Popular
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1 in 3 Koreans live alone, family types becoming diverse
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Korea, Japan finance chiefs vow to tame rampant FX market volatility
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US 'incredibly concerned' about suspected NK-Iran military ties
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K-pop group's manager dismissed for setting up spycam in theater dressing room
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K-pop singer lost consciousness after being hit by foul ball, cancels show
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Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
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[Kim Seong-kon] Democracy and the future of South Korea
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Why is Apple Pay struggling to get purchase in Korea?
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Yoon's office denies considering liberal figures for key posts
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Seoul says Fu Bao loan 'not going to happen'
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Samsung Biologics to invest W2tr for 5th plant
Samsung Biologics said Friday it is investing 2 trillion won ($1.5 billion) to build its fifth production plant as part of efforts to meet market demands and bolster its manufacturing competitiveness. The company announced the plan after an approval from the board of directors earlier in the day. Last year, the company’s revenue exceeded the 3 trillion-won mark for the first time within the bio pharma industry, with its operating profits reaching some 1 trillion won. While its fourth pla
March 17, 2023
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Samsung ups stake in Rainbow Robotics
Samsung Electronics has purchased more shares in Rainbow Robotics, a local humanoid robotics company, in an apparent move to ramp up its presence in the burgeoning robotics market. In a regulatory filing on Wednesday, Rainbow Robotics reported its Chief Executive Officer Oh Jun-ho and other special interest groups sold their combined 4.8 percent stake in the company to Samsung for 27.8 billion won ($21.2 million). Adding to its 10.22 percent stake purchased in January, Samsung now owns a tota
March 16, 2023
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Fundamentals in focus as Samsung CEO signals continued investment
SUWON, Gyeonggi Province -- While forecasting a grim business outlook amid a global economic downturn, Samsung Electronics Vice Chairman Han Jong-hee vowed to overcome difficulties by focusing on the "fundamentals" and to maintain investment, during this year's annual shareholders meeting Wednesday. “We expect this year to be more difficult than ever, as management uncertainties surrounding the company would continue. But even in these situations, we were able to overcome
March 15, 2023
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S. Korea, Dutch trade ministers pledge to bolster ties on chips
Trade ministers of South Korea and the Netherlands on Tuesday agreed to further strengthen bilateral cooperation on various industries, especially in the semiconductors amid growing pressures from the US to curb investment in China. South Korean Minister for Trade Ahn Duk-geun met with Dutch Minister for Foreign Trade and Development Cooperation Liesje Schreinemacher to exchange views on the two countries' partnership on economic security. They agreed to further strengthen complementary c
March 14, 2023
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LG Chem signs $200m pediatric vaccine deal with UNICEF
LG Chem said Tuesday that the company signed a deal with the United Nations Children's Fund to supply two pediatric vaccines. Under the deal, LG Chem will supply $100 million worth of its polio vaccine Eupolio and $100 million worth of pentavalent vaccine Eupenta, which works for five different indications including tetanus, diphtheria, pertussis, hepatitis B and Haemophilus influenzae. LG Chem will supply Eupolio for two years from 2024, while the supply of Eupenta will begin this year and
March 14, 2023
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LG CNS, SAP join hands for enterprise software innovation
South Korea’s IT solutions provider LG CNS said Tuesday it has signed a memorandum of understanding with SAP, the German software giant, to bolster their strategic partnership in building next-generation enterprise resource planning, or ERP, solutions. The MOU signing ceremony was held at SAP’s headquarters in Walldorf, Germany, on March 10, with LG CNS CEO Hyun Shin-gyoon and SAP CEO Christian Klein in attendance. Under the MOU, the two companies agreed to develop and operate new ER
March 14, 2023
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LG Uplus launches live chat service for foreign users
South Korean telecom operator LG Uplus announced Tuesday that it will launch a live chat customer service platform in foreign languages, including English, Chinese and Vietnamese, to better respond to a recent surge in visitors to Korea. The company said more than 1,000 customer consultations were carried out during the pilot operation period over two months, confirming the increased demand for foreign language services. According to recent immigration data, about 460,000 foreign nationals arriv
March 14, 2023
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Diplomacy urged to ease concerns over US CHIPS Act
South Korea's chip industry is feeling pressured to take a side between the United States and China in the two superpowers’ strategic rivalry, as Washington recently disclosed some "unusual" requirements for its $52 billion semiconductor funding program aimed at securing an upper hand against Beijing. Home to two of the world's largest memory chip makers, Samsung Electronics and SK hynix, the South Korean government has also raised concerns, as the US CHIPS and Scienc
March 13, 2023
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[Herald Interview] 'Antarctica, a savior to the future of the Earth'
In the 2009 movie “Avatar,” set in the year 2154, the Earth’s natural resources have been depleted, so people explore another star system to mine a valuable mineral. But before going to outer space, mankind can rely on Antarctica, a well-preserved continent twice the size of Australia, and the vast Southern Ocean -- also called the Antarctic Ocean -- around it, rich in water, food and mineral resources. The kilometers-thick ice and snow covering the continent hold in store th
March 13, 2023
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Samsung SDS renews vision for cloud leadership
South Korea’s IT services firm Samsung SDS on Friday unveiled a renewed vision for its burgeoning cloud business, touting itself as the nation’s only “hybrid” service provider that offers integrated hardware and software solutions for corporate clients. “Cloud computing itself is inherently complicated enough and it also covers a vast range of options now. We’d like to simplify the service for our clients under our new brand slogan, ‘Cloud. Simply Fi
March 12, 2023
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SK Geocentric readies world’s 1st plastic recycling complex
SK Geocentric, a chemicals unit under South Korean conglomerate SK Group, said Friday it has completed technological preparations for the Ulsan Advanced Recycling Cluster with its US partner, Purecycle Technologies. The Ulsan Advanced Recycling Cluster is expected to be the world’s first plastic recycling complex, according to SK Geocentric. The companies aim to complete construction of the recycling complex in 2025. Researchers and engineers at the South Korean chemicals firm conducted te
March 10, 2023
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LG sets up automotive R&D unit in Vietnam
LG Electronics said Thursday it has elevated its research and development center in Vietnam into a corporate entity as the tech giant seeks to further bolster its fast-growing automotive solutions business. The new unit, called LG Electronics Development Vietnam, will be in charge of developing and testing software for in-vehicle infotainment systems, one of the key products of LG’s vehicle solutions division. The IVI systems encompass telematics, audio, video and navigation solutions prov
March 9, 2023
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SK Networks secures stake in US AI startup
SK Networks said Thursday it has committed a total of $22 million in both direct and indirect investments to secure a 2.6 percent stake in the recent Series C funding round held for Humane, an AI startup founded by ex-Apple employees through the company’s investment subsidiary Hico Capital. This bold investment decision, which SK Networks has disclosed to its stakeholders following the end of the Series C funding round, rides along the tides of the growing industry-wide interest in AI tech
March 9, 2023
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OLED TV war looms as Samsung returns after 10-year hiatus
Samsung Electronics on Thursday debuted its first organic light-emitting diode TVs in a decade at home, making official its comeback to the fast-growing premium TV segment, which is currently dominated by its crosstown rival, LG Electronics. The tech giant held a media event at its headquarters in Gangnam, southern Seoul, unveiling its brand new TV lineup this year, which also included its latest high-end LCD TVs, branded as Neo Quantum LED or Neo QLED TVs. The world’s largest TV maker i
March 9, 2023
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LG welcomes more rivals entering OLED TV market
LG Electronics, the dominant No. 1 company in the organic light-emitting diode TV market, said Wednesday it welcomes more tech firms, including its archrival Samsung Electronics, entering the fast-growing OLED TV market. Ahead of the official release of its 2023 TV lineup, LG held a press briefing with a group of local reporters at the company's research and development campus in Seoul and boasted its confidence in the quality of its OLED TV products. “As observing an increasing numbe
March 8, 2023
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SK Plasma to build $250m blood products plant in Indonesia
SK Plasma, a blood products unit of SK Discovery, announced Wednesday that the company has clinched a deal to build a blood products plant in Indonesia, which is expected to be worth around $250 million. SK Plasma has received final approval from the Indonesian Health Ministry for construction of a plasma fractionation facility, which will produce products like immune globulin and albumin, used for patients with immunodeficiency diseases and hemophilia. The plant will be capable of producing 1 m
March 8, 2023
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Samsung CEOs to discuss inclusivity with female employees
Celebrating International Women’s Day this week, Samsung Electronics’ top brass will hold luncheon talks with female executives to discuss woman’s leadership in the workplace, the tech giant said Wednesday. Its Co-CEOs Han Jong-hee, the mobile device and home appliance business chief, and Kyung Kye-hyun, who handles the semiconductor business division, will attend the event dubbed “One Table,” slated for Friday. The leaders are expected to discuss ways to improve ge
March 8, 2023
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Corporate Korea sees momentum in reviving ailing Japan business
Amid the budding efforts to patch up the rocky relationship between South Korea and Japan, major Korean firms are expected to see momentum grow for the revival of their ailing Japan business. Japan has long remained a graveyard for Korean companies, even for the most successful ones like Samsung Electronics and Hyundai Motor, because consumers there are known to prefer local brands and like Sony and Toyota -- who also happen to be Korean brands' archrivals in almost all sectors globally. Ov
March 7, 2023
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[Photo News] AI robots on patrol
SK Telecom said Tuesday that it has teamed up with Neubility, a delivery robot developer, and SK Shieldus, a security services firm, to develop artificial intelligence-based self-driving patrol robots. The telecom giant said the robots are equipped with camera-based solutions instead of high-priced LiDAR sensors. The three companies agreed to sign a deal for the commercialization of the robots in the second quarter, with an aim to make their market debut later this year.
March 7, 2023
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Seoul-Tokyo trade talks to resume after 3 years
South Korea and Japan have agreed to hold talks to scrap Tokyo’s export restrictions on key industrial materials to Seoul, taking a step closer toward mending their soured bilateral ties over the years. Korea’s Ministry of Trade, Industry and Energy said Monday it is starting negotiations with its Japanese counterpart to ease export curbs that were imposed in 2019 in an apparent retaliatory measure against a court ruling in favor of Korean victims of forced labor during Japan&rsquo
March 6, 2023