LG Innotek said on Monday it is running an open audition program where its employees make proposals to explore new businesses. Employees of the electronic components supplier present their ideas to “i-Lab,” short for “innovation lab,” through video conferences, and get “likes,” questions and feedback from other employees on a real time basis. The 10 ideas that get the most “likes” will be reviewed by management, including the company’s chie

Four metaverse-themed exchange-traded funds went listed for the first time on the country’s stock markets on Wednesday, betting on growing interest in the new IT platform. The four ETFs are KB Asset Management’s KBSTAR iSelect Metaverse, NH Amundi Asset Management’s Hanaro Fn K-Metaverse MZ, Mirae Asset Global Investment’s Tiger Fn Metaverse, and Samsung Asset Management’s KODEX K-Metaverse Active. Samsung Asset’s ETF product is an actively managed fund,

LG Innotek said Wednesday the company is taking part in an international trade show for substrates and chip packaging technologies to showcase its newest products and technologies. The electronic parts supplier of LG Group exhibited three new products -- 5G Antenna in Package, RF-System in Package and Chip On Film -- at the Korea International Electronic Circuits and Packaging Show 2021 that kicked a three-day run in Songdo, Incheon on Wednesday. The 5G AiP is a substrate for the antenna mod

A growing number of South Korean companies are turning to the metaverse to offer new services, promote their products and train their staff, ushering in what has been described as the “future of the internet.” BGF Retail, the firm behind convenience store chain CU, opened the second store on Zepeto recently -- a 3D avatar metaverse platform run by South Korea’s largest web portal operator Naver. Following the opening of the “world’s first” virtual store in A

LG Innotek Co., a major electronics parts maker in South Korea, said Monday it has developed an environmental friendly magnet that boasts enhanced magnetic strength. LG Innotek said the latest magnet, which it developed together with Sunglim Group Industry Co., reduces the use of heavy rare-earth (HRE) metals, a key ingredient of magnets, by 60 percent compared with previous ones. Such a magnet is installed in products that need power with its magnetic pushing and pulling force. The company said

South Korea's major companies increased their hiring of new employees in the first half of the year despite the coronavirus pandemic, a corporate tracker said Wednesday. According to CEO Score, 460 out of the country's top 500 firms by sales had a combined workforce of 1,503,643 as of end-June, up 13,667 from a year earlier. Their net employment came to 5,259 in the January-June period, which contrasts with a decrease of 3,930 a year earlier. CEO Score said those large companies jacked up hir

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

LG Group affiliates operating in Vietnam have yet to receive any COVID-19 vaccines despite donating billions of won to help the Southeast Asian country secure the jabs, Korean media outlets reported Monday. Citing sources in Vietnam, the reports said LG Group employees working at the home appliance plants in Haiphong City have not received any vaccines. The parent group has contributed 1.55 billion won ($1.4 million) to Vietnam’s national vaccine fund. This is in stark contrast to oth

LG Group’s materials and components maker LG Innotek managed to cut greenhouse gas emissions by 11 percent last year, from the previous year, the company said in a report released Monday. According to the firm’s 2020-21 Sustainability Report, it reduced emissions by an estimated 45,000 tons, which is equivalent to what 3.9 million trees would have absorbed over a year. In addition to that, the company was able to cut water usage by 7 percent from 2019, by expanding investment in

LG Group’s material and components maker LG Innotek has been recognized for the quality of its auto parts supplied to General Motors, the company said Tuesday. The South Korean firm received the 2020 GM Supplier Quality Excellence Award, marking its fourth consecutive win dating to 2017. GM recognizes partners that meet standards of zero quality defects and strict quality control for automotive components with the award, as quality control is directly related to the safety of drivers,

South Korean brokerage firms and asset management companies are keeping a close eye on a new virtual world convergence of cutting-edge technologies, amid market expectations of the emerging sector propelling greater growth. The metaverse -- a combination of “meta” and “universe” -- refers to a virtual world shared by people in the real world. It has rapidly emerged as a major trend for companies around the world. According to industry watchers Tuesday, two Seoul-based

LG Innotek's quality system has been certified by Jaguar Land Rover. LG Innotek boasts quality competitiveness recognized by global companies. LG Innotek will accelerate its effort to make inroads into the next-generation automotive component market. SEOUL, South Korea, May 26, 2021 /PRNewswire/ -- LG Innotek (CEO Cheol-Dong Jeong) announced on the 26th that it had received the Jaguar Land Rover Quality Certificate from the global premium vehicle maker Jaguar Land Rover. LG In

LG Innotek, LG Group’s materials and components maker, received the Jaguar Land Rover Quality Certificate from the global car maker, the company announced Wednesday. 　 Jaguar Land Rover awards a quality excellence certificate to one supplier every year based on quality and the supplier’s adherence to delivery schedule.　 LG Innotek has been supplying a DC-DC converter product to the automaker since 2017. A DC-DC converter is a key component used in hybrid and electric cars. 　 This

LG Innotek, LG Group’s cutting-edge manufacturer of materials and components, is holding an exhibition to showcase its business history, current market status and product lineups. It will take place online and offline simultaneously. The purpose of the event is to help LG Innotek’s business partners and the public to better understand the company, it said. The online exhibition comprises two separate segments. One is designed especially for the company’s corporate partners,

The Korea Herald is publishing a series of interviews with executives of South Korea’s leading corporations on their response to environmental, social and corporate governance, or ESG, issues, which have become central factors globally in measuring the sustainability of an investment or business decision. -- Ed.  Since even before the environmental, social and corporate governance trend caught on in corporate Korea, LG Innotek has been making quiet efforts for years for the betterm