LG Electronics said Friday its operating earnings for the fourth quarter dipped more than 90 percent from a year earlier on slumping demand for home appliances coupled with global economic difficulties. The consumer electronics giant reported an operating profit of 69.3 billion won ($56.1 million) for the October-December period, down 90.7 percent from the same period a year prior, the regulatory filing showed. It was the first time South Korea’s No. 2 home appliances maker had reported a

Technology Jan. 27, 2023

Samsung Electronics said Thursday that it has won the ISO 22301 certification, a global recognition for crisis preparedness at its chip-manufacturing complex in Hwaseong, Gyeonggi Province. The ISO certification, awarded by the British Standards Institution, is the international standard for business continuity management system or BCMS, representing the highest level of commitment to business continuity and disaster preparedness. With the latest recognition, the world’s largest memory chi

Industry Jan. 26, 2023

South Korean telecommunications giant KT Corp. said Thursday it has signed a partnership deal with the Mongolian government to secure a stable supply of some 80 kinds of mineral resources, including rare earth elements. KT CEO Ku Hyeon-mo signed the memorandum of understanding on mineral resources with Ganbaatar Jambal, Mongolia's Mining and Heavy Industry Minister, in Ulaanbaatar on the sidelines of a meeting that aimed to strengthen strategic cooperation in realizing digital transformatio

Industry Jan. 26, 2023

LG Electronics on Tuesday unveiled LG Gram Style, a new addition to the tech giant’s Gram premium laptop lineup that marks its 10th anniversary this year. The Gram debuted in 2014 as the industry’s lightest 13-inch laptop, weighing just 980 grams. The Style comes in 14- and 16-inch models. The 16-inch model is the first Gram laptop equipped with an organic light-emitting diode display.

Technology Jan. 24, 2023

South Korea’s telecom giant KT Corp. is undergoing digital transformation and making business opportunities out of it with its advanced cloud streaming technology. The company created a virtual art gallery placed in the metaverse with fast-evolving technology, allowing art lovers to explore various artworks regardless of time and place. KT joined hands with local startup TCAG to create a cloud-based streaming digital twin gallery, which realized 12 contemporary artists’ works display

Industry Jan. 19, 2023

Samsung Electronics’ mobile chief on Wednesday expressed his ambition to set new performance standards for premium smartphones with the upcoming Galaxy S series at its annual unpacking event next month. Roh Tae-moon, president and head of Samsung Electronics’ mobile experience business, said in a blog post that there is no better example of Samsung delivering on its vision than the Galaxy S series. “We believe mobile technology can be the catalyst to enrich people’s lives

Technology Jan. 18, 2023

Samsung Electronics said Tuesday it will open Galaxy experience zones in 24 cities around the world, including San Francisco, London, Paris, Singapore and Dubai of the United Arab Emirates, next month. It is the follow-up event to its annual unpacking event for its new flagship Galaxy devices, which is slated to take place in San Francisco on Feb. 1. The venues will allow visitors to explore Samsung's newly unveiled devices and innovations such as its exciting new camera features. The Galax

Technology Jan. 17, 2023

Apple is seeking ways to make the cycle tracking application featured in its latest Apple Watch series available for users in Korea. The US tech giant recently reached out to South Korean authorities to ask for a regulatory sandbox approval, according to industry sources Tuesday. Apple Korea inquired with the Ministry of Science and ICT about the process of using a regulatory sandbox system, a measure that temporarily exempts the enforcement of regulations on new products or services for a certa

Technology Jan. 17, 2023

SK Group, South Korea’s semiconductor-to-telecommunications conglomerate, said Monday it had signed a partnership deal with the United Arab Emirates’ sovereign wealth fund to tackle climate change together by establishing a carbon credit market in Asia. SK Group Chairman Chey Tae-won, who doubles as chairman of the Korea Chamber of Commerce and Industry, signed a memorandum of understanding with Khaldoon Khalifa Al Mubarak, CEO and managing director of the Mubadala Investment Compa

Industry Jan. 16, 2023

The world’s leading semiconductor companies will likely spend more than $300 million in the development of artificial intelligence (AI) to help design semiconductors faster this year as a global chip shortage continues to put a strain on demand, Deloitte Korea said Friday in its report. According to the report, global chipmakers such as Samsung Electronics, Intel and Qualcomm are expected to invest this amount in AI design tools for chips. By growing 20 percent annually for the next three

Technology Jan. 13, 2023

Samsung Electronics on Wednesday sent out invites to its annual unpacking event for its new flagship Galaxy devices that will take place in San Francisco at 10 a.m. on Feb. 1. Entitled “Galaxy Unpacked 2023: Share the Epic,” the event will be held in person for the first time in three years since the pandemic. It will also be livestreamed from Seoul through Samsung’s newsroom and homepage, as well as its official YouTube channel, the officials said. “A new era of Galaxy i

Technology Jan. 11, 2023

SK Inc., the investment arm of SK Group, said Tuesday it will co-host a networking event with the group’s biopharmaceutical affiliates including SK biopharmaceuticals and SK pharmteco to expand its global partnerships in the US, the world’s largest bio and pharmaceutical market. The event, titled “SK Bio Night,” will take place at the Four Seasons Hotel in San Francisco on Wednesday. About 100 executives from some 50 companies -- including SK’s biopharma firms, the

Industry Jan. 10, 2023

US chipmaker Broadcom has voluntarily come up with corrective measures, including a fund of 20 billion won ($16.1 million), to support the local chip industry amid an ongoing antitrust probe into the company's alleged abuse of power against Korean clients, including Samsung Electronics. On Monday, South Korea's Fair Trade Commission unveiled the measures tentatively agreed upon with Broadcom. In August last year, the FTC accepted the US company’s request to submit corrective me

Industry Jan. 9, 2023

LG Electronics said Friday it expected its 2022 fourth-quarter operating earnings tumbled more than 91 percent from a year prior, amid its home appliance unit’s sluggish performance coupled with global recession woes. LG estimated operating profit for the October-December period came in at 65.5 billion won ($51.6 million), down 91.2 percent from the same period a year before, according to the company’s earnings guidance. It would be the first time in four years for South Korea’

Technology Jan. 6, 2023

Samsung Electronics predicted Friday that its 2022 fourth-quarter operating profit would plummet 69 percent from a year earlier, as its main semiconductors business faced major headwinds from weakening demand for chips and home appliances amid recession woes. In its earnings guidance, the South Korean tech giant estimated its October-December operating profit to be 4.3 trillion won ($3.4 billion), down from 13.87 trillion won a year prior. The figure was lower than the consensus 6.93 trillion wo

Technology Jan. 6, 2023