Korea’s IP agency chief vows to strengthen patent protection and support R&D in patent licensing

South Korean shipping lines are expected to chalk up record earnings for the third quarter of the year thanks to surging freight rates, a market tracker said Tuesday. HMM Co., South Korea's largest container shipper, is projected to post a consolidated operating income of 1.82 trillion won ($1.54 billion) for the July-September, according to an analysis of brokerage house forecasts. That would break HMM's operating income record of 1.39 trillion won set in the previous quarter, which was up 901

Samsung Electronics Co. remained in second place in the global smartphone image sensor market in the first half of the year, a report showed Tuesday, although its share declined from a year earlier. Samsung captured a 25 percent revenue share in the first six months of the year, down from 32 percent a year ago, according to market researcher Strategy Analytics. Sony dominated the market with a 42 percent revenue share, slightly down from 44 percent a year earlier, while OmniVision came in third

South Korean battery maker SK Innovation Co. and American automaker Ford Co. said Tuesday they will invest 13 trillion won ($11 billion) to build three electric vehicle batteries in the United States by 2025. A joint venture between the two companies, called BluOvalSK, will build an assembly and battery complex in Tennessee, and two additional battery factories in Kentucky, which will be the single largest investment in Ford's 118-year history, the two companies said in a statement. The three fa

With Netflix and Disney+ ready to intensify content battle, Korean streaming platforms under pressure to devise new strategies to retain subscribers

South Korea’s 5G users increased by millions this year, but 5G network base stations are still being rolled out slowly, a local agency said Monday. According to data compiled by the Korea Communications Agency, the number of 5G users increased by 1.99 million during the second quarter this year to reach 17 million, up 13.7 percent on-year. As of June, 5G users accounted for 23.8 percent of the total mobile network users here. The number of 4G and 3G network users reached 50.5 million a

Samsung Electronics and Hyundai Steel announced Monday that they had developed a new wastewater recycling technology that would allow sludge from the chip manufacturing process to be reused for steelmaking. Their joint research found that calcium fluoride in the sludge was similar to fluorite, a material used in steelmaking to reduce melting temperatures and remove impurities. Hyundai Steel said it expected the deal to help the company save on costs, since South Korean steelmakers rely entirel

Neste, a Finnish oil refiner and the world’s largest producer of renewable diesel and sustainable aviation fuel, calls for a greater diversity of fuels for an inclusive green transition

CJ OliveNetworks will introduce the country’s first “non-fungible token” tickets at the Busan International Film Festival next month, the company said Monday. A type of blockchain technology, NFTs are unique and not interchangeable. NFT-based tickets, therefore, allow ticket issuers to track holders of each ticket and prevent scalping or fraud. The company has named the ticketing service “One Order Ticket.” CJ has partner with domestic blockchain platform firm

The US government’s strategic interest in chips is putting South Korean chipmakers in a quandary, as Washington adds pressure on chipmakers to share sensitive data on technology, clients and inventory status. With a stated purpose of solving the chip shortage, which is affecting automotive and other industries around the world, US authorities on Thursday held an online meeting with major automakers and chipmakers, which Samsung Electronics attended. Following the meeting, the US Depart

BAT Rothmans on Monday launched the new tobacco heating product Glo Pro Slim in South Korea in an online media conference. Glo Pro Slim marks the latest edition of the Glo series, following the launch of Glo Pro early last year. The company said the new product adds to its growing list of Glo products and will appeal to consumers seeking potentially reduced-risk products. “BAT Rothmans will lead the market transformation through product portfolio expansion and innovation in tobacco heati

Samsung Electronics Co. is expected to report strong third-quarter earnings on the back of its semiconductor business and a weak won, analysts said Monday. The South Korean tech giant was projected to log 16.3 trillion-won ($13.8 billion) in operating profit for the July-September period, up 31.9 percent from a year earlier, while its sales were forecast to increase 12.2 percent on-year to 75.1 trillion won over the period, according to the data from nine local brokerage houses compiled by Yonh