Most Popular
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Medical profs at top hospitals suspend surgeries, clinics
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Exports to US reach all-time high, widen gap with China
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Samsung chip business back on track, logs W1.9tr operating profit in Q1
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Trump rekindles criticism: US forces defending 'wealthy' S. Korea 'free of charge'
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Shinsegae faces showdown with investors over SSG.com's delayed IPO
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Hopes rise for possible Gaza truce deal
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Ex-pro baseball player who killed debtor appeals sentence
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S. Korea discussed possible participation in AUKUS Pillar 2 with Australia: defense minister
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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[Music in drama] Rekindle a love that slipped through your fingers
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Satrec Initiative aims to build world’s highest-resolution optical satellite
Satrec Initiative, a South Korean manufacturer of small- and medium-size observation satellites, will push for the development of an Earth mapping satellite with the world’s highest resolution imaging system, the firm said Wednesday. Named SpaceEye-T, the envisioned aircraft is a 700-kilogram satellite designed to observe the Earth offering imagery with resolution as high as 30 centimeters per pixel, precise enough to verify car models on the ground. The company plans to launch it by
Aug. 18, 2021
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KT-led research alliance aims to launch ‘hyperscale AI’ next year
KT Corp., South Korea’s leading mobile carrier, said Wednesday that it aims to debut a “hyperscale artificial intelligence” model by next year through joint research with universities and a state-run research center. According to the company, AI One Team, a research alliance comprising representatives of industry, academia and a public research organization, has signed an agreement with KT to conduct the project together. AI One Team involves 10 organizations, including the
Aug. 18, 2021
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KT teams up with KAIST to develop hyperscale AI model
KT Corp., a major South Korean telecom operator, said Wednesday it has joined hands with the country's top science university KAIST to develop a hyperscale artificial intelligence (AI) language model. The telecom operator plans to commercialize the model, which uses massive computing infrastructure for natural language processing, in the first half of next year, with hopes of powering its services, such as smart speakers and AI call centers. The Electronics and Telecommunications Research Inst
Aug. 18, 2021
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S. Korea to foster 1,800 5G service firms by 2026
South Korea aims to create around 1,800 companies that specialize in new 5G services in the next five years, the ICT ministry said Wednesday, to boost adoption of promising technologies powered by the latest generation networks. While the country commercialized 5G in 2019, companies have yet to fully harness the blazing fast networks that could power upcoming tech services, such as remote-controlled factories, self-driving vehicles, and 3D holograms. The ICT ministry said it aims to boost the
Aug. 18, 2021
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Smilegate’s Lost Ark rewrites rules of online PC game market
Lost Ark, developed by Smilegate, has emerged as the most popular title in the role-playing PC game category in South Korea, a surprising performance given its rise to the top slot took some time and benefited from a host of external factors. The multiplayer game was launched in November 2018. As with other mainstream games, it pulled off a stellar record when it formally kicked off its service, drawing a record 350,000 concurrent users. Over time, its popularity declined as fickle players mi
Aug. 17, 2021
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S. Korean firms’ donations to Vietnam vaccine fund surpass W9b
South Korean companies operating in Vietnam have provided a total of 9.2 billion won ($7.8 million or 180 billion dong), in donations to help the Southeast Asian country secure COVID-19 vaccines, according to officials in the South Korean Embassy in Vietnam and local media reports Tuesday. If donations from South Korean individuals are counted, the combined contribution to Vietnam’s vaccine fund could surpass 10 billion won, they said. Forking out the biggest amount was Samsung Electro
Aug. 17, 2021
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Compliance, chips and vaccine ‘top priority‘ for Samsung’s Lee
Samsung Group’s de facto chief Lee Jae-yong is going full speed ahead after returning to the office Tuesday, tending to tasks waiting for his attention at Samsung Electronics. On Tuesday, the first working day since his release from jail Friday, the Samsung vice chairman reported to his office at Samsung’s headquarters in Seocho, southern Seoul, early in the morning. Of all the items on his agenda, three appear to be of top priority: compliance, chips and vaccine. It was uncl
Aug. 17, 2021
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[Herald Interview] Yanolja envisions self-check-in hotels with app-controlled rooms
When travel and leisure platform operator Yanolja raised $1.7 billion from SoftBank Vision Fund 2 last month, it drew comparisons with e-commerce giant Coupang, drumming up excitement over the recent startup boom in South Korea. “We have the super app Yanolja at home and a cloud-based automation solution for the international market. They are fast-growing markets with great potential and we believe the funding acknowledges our technology to keep things going and our great team,” Lee
Aug. 17, 2021
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Hyundai Construction Equipment to develop small-sized forklifts
South Korean construction machinery maker Hyundai Construction Equipment Co. on Tuesday said it will develop small-sized forklifts to be powered by hydrogen fuel cells. The subsidiary of Hyundai Genuine Co. will team up with S-Fuelcell Co., a local hydrogen fuel cell maker, to commercialize the 1-3 ton forklifts by 2023, it said. Hyundai Construction Equipment also said it developed 5-ton hydrogen fuel cell powered forklifts in 2020 in cooperation with Hyundai Mobis Co., South Korea's biggest
Aug. 17, 2021
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LG Display to invest W3.3 tr to expand OLED capacity
LG Display Co., a major display panel maker in South Korea, said Tuesday it will invest 3.3 trillion won ($2.8 billion) to expand its medium-and-small sized OLED display production capacity. The company said the investment, which will be made through March 2024, will be used in OLED facilities in South Korea that manufacture sixth-generation (1,500mm x 1,850mm) substrates. LG Display is the world's sole supplier of large-size OLED panels for TVs, but its competitiveness in the medium-and-
Aug. 17, 2021
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Samsung leads Q2 curved monitor market
Samsung Electronics Co. was the world's largest curved monitor vendor in the second quarter of the year, a report showed Tuesday, although its shipments decreased sharply from a quarter earlier. Samsung had a market share of 32 percent in the April-June period after shipping 1.09 million curved monitors, according to market researcher TrendForce. AOC/Philips, owned by TPV Technology Ltd., was the runner-up with a 12 percent market share with 410,000 units. Micro-Star International Co. and Dell
Aug. 17, 2021
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Samsung Display's low-power OLED panels inside latest foldable phone
Samsung Display’s new power-saving OLED display panels can be found inside Samsung Electronics’ latest smartphone, the Galaxy Z Fold3, according to the display maker on Monday. The new displays, developed with what the company brands as Eco2 OLED technology, cut power consumption by up to 25 percent, it added. The firm has made a number of efforts to debut low-power OLED panels, with a focus on polarizers. Polarizers are key components in a panel that eliminate reflections from e
Aug. 16, 2021
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[Gadget Review] Samsung foldables deserve credit for upgrades
Samsung Electronics’ two latest foldable smartphones, Galaxy Z Fold3 and Z Flip3, didn’t seem to have the “wow” factor when first unveiled, but at a closer look, they do deserve some praise. As a user of Z Flip, with a husband who also owns the Galaxy Z Fold, I personally had expectations for new editions of the foldable devices, hoping they would be “more comfortable” to use in daily life. As I had hoped, Galaxy Z Fold3 became slightly thinner and lighte
Aug. 16, 2021
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Kakao opens blockchain units in Singapore, eyes expansion overseas
Kakao Group, which operates messenger app KakaoTalk, has established two new blockchain entities in Singapore in an effort to expand its blockchain platform abroad and chase after its biggest competitor, Naver. According to local media reports Monday, Kakao recently founded the nonprofit Klaytn Foundation and global accelerator unit Krust in the city-state. With the two at the forefront, the South Korean internet giant will pursue the globalization of its public blockchain project, Klaytn,
Aug. 16, 2021
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[Anniversary Special] S. Korea’s pharmaceutical industry grows through COVID-19, prepares for post-pandemic future
The pandemic has opened up a window of opportunity for South Korean pharmaceutical and biotech companies to advance to the global stage. Several local players posted strong earnings by exporting self-developed test kits to foreign countries and secured contract manufacturing deals for COVID-19 vaccines. As a result, the number of pharmaceutical and biotech firms with sales exceeding 1 trillion won ($860.2 million) has increased to nine in 2020 from six a year earlier. Contract development
Aug. 14, 2021
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Samsung SDI may build an EV battery plant in Illinois : news reports
Samsung SDI may build a battery plant in central Illinois, according to a report by Reuters on Friday. The news came after Illinois Sen. Dick Durbin said in a press conference that there were discussions to bring in a “major Samsung battery facility” during their meeting with South Korean delegations this week. While the decision has not been finalized, said Durbin, the facility will possibly be next to electric-vehicle start-up Rivian, which said in April it would source EV batt
Aug. 13, 2021
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Celltrion's Q2 operating profit falls 10.2% on-year
South Korean pharmaceutical giant Celltrion on Friday said the company’s operating profit fell 10.2 percent in the second quarter through an earnings report. The firm’s operating profit stood at 163.2 billion won during the April-June period, down 10.2 percent from the same period last year. Its sales inched up 0.7 percent to 431.8 billion won. The company said its second-quarter revenue went slightly up, backed by increased overseas sales of the company’s infliximab bios
Aug. 13, 2021
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S. Korea signs contract with Pfizer to buy 30m COVID-19 vaccine doses
South Korea has signed a contract with US pharmaceutical giant Pfizer to purchase 30 million doses of the drugmaker’s COVID-19 vaccine for use in 2022, the Korea Disease Control and Prevention Agency said Friday. The deal is part of Seoul’s plan to procure 50 million vaccine booster shots for the country’s population of 52 million, according to KDCA Director Jeong Eun-kyeong. Pfizer’s first batch will ship out in the first quarter of next year, the KDCA added. Under t
Aug. 13, 2021
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Samsung Bioepis sees 30% jump in biosimilar sales in H1
South Korean drugmaker Samsung Bioepis said Friday that global sales of five major biosimilar products increased 30 percent on-year in the first half of this year. Sales of the five biosimilar products during the first half reached $166 million, from $128 million from the same period a year earlier, according to an earnings report of its global pharmaceutical partner Organon International, a spinoff of US-based Merck. The five products are etanercept, infliximab, adalimumab, trastuzumab and
Aug. 13, 2021
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[From the Scene] Hundreds gather to watch Lee leave jail
UIWANG, Gyeonggi Province -- Lee Jae-yong, de facto leader of South Korea’s largest conglomerate Samsung Electronics, has been released on parole Friday. At 10 a.m. on Friday, Lee walked free from the Seoul Detention Center in Uiwang, Gyeonggi Province after being jailed for bribery. Around 300 citizens and global media thronged the area in the hours before Lee’s release. In front of the detention center’s gate, members of conservative civic groups held up placards and ba
Aug. 13, 2021