Samsung Electronics’ latest announcement to invest 15.88 billion rupees ($207.8 million) to set up a new refrigerator parts plant in India will not affect its household appliance factory operation in Jiangsu province, China, according to the consumer electronic goods company Wednesday. Samsung’s plan in conjunction with the provincial government of Tamil Nadu for the plant comes after former chi...

Some 1,600 shareholders attend annual gathering; top brass bombarded with tough questions

SK Siltron is considered one of the five major wafer makers along with Japan-based Shin-Etsu Chemical and Sumco, Taiwanese firm Global Wafers and German company Siltronic, which account for nearly 95 percent of global market share if combined. Its home country Korea is the second-largest by wafer capacity just behind Taiwan, according to IC Insights. Nearly 60 percent of SK Siltron’s revenue has...

SK On has long established itself as a key EV battery supplier to Ford, as at least 70 percent of Ford’s batteries will come from production lines partly or fully backed by SK On with the newest Turkey plant. Ford aims to secure plants of a combined 240 gigawatt-hour battery capacity on a yearly basis by 2030, and a combined 140 gigawatt-hour capacity of Ford‘s batteries will come from factories...

Board seats for top executives to be voted on amid mixed sentiments among shareholders

South Korean conglomerates Samsung and Posco on Monday each announced plans to build production lines of solid-state batteries, an up-and-coming technology in making fireproof and energy-dense lithium-ion batteries that can boost electric vehicle range. Samsung SDI, a battery arm of Korea’s largest conglomerate by assets, said the company has started the construction of a 6,500-square-meter pilo...

A much greater number of Korean companies are considering bringing their manufacturing and services back home compared to two years ago, the Federation of Korean Industries said Monday. According to a survey of 105 of the country’s top 500 businesses in sales, conducted for a week through Feb. 24 by a pollster commissioned by the business lobbying group, 27.8 percent said they were currently mul...

Chairman Kim Beom-su says he will focus on Kakao‘s global expansion, starting in Japan

Seoul-based LG Electronics announced Monday that it is working with Korean American robot engineer Dennis Hong to develop a robotics solution for the logistics sector. The collaboration between LG Electronics’ Advanced Robotics Lab and Hong, a professor of mechanical and aerospace engineering at the University of California, Los Angeles, is aimed at promoting “advances in robotics technology to ...

SK Telecom-owned ID Quantique expresses bid for EU-wide quantum infra projects after Asia success

With Yoon Suk-yeol set to be South Korea’s next president, the country’s biopharmaceutical and gaming industries are paying vigilant attention as the president-elect pledged to increase support for the bio and health sectors while vowing to tighten regulations on game makers’ random box items. The pharmaceutical and biopharmaceutical industries on Thursday welcomed Yoon’s campaign promise to set...

Fractional ownership price of Lotte World Tower on metaverse surges 180,000 times

Italian luxury fashion brand Gucci said Monday it will put on a metaverse exhibition and sell fashion items for avatars on Zepeto, Korean tech giant Naver’s metaverse platform. The fashion house has opened a virtual space on Zepeto, where users can enjoy a metaverse version of “Gucci Garden Archetypes,” an ongoing multimedia exhibition in Seoul. Gucci and Zepeto, following its first partnership...

Creator of global hit PUBG: Battlegrounds says future is in games combined with blockchain technology

Zepeto, the metaverse platform of Korea’s tech giant Naver, said Friday its number of domestic and international users reached 300 million since its launch, amid the burgeoning trend of interactions in virtual reality. “The number of international users alone is 285 million, accounting for 95 percent of users, while 15 million domestic users have subscribed to the app,“ a Naver official said. ”T...