Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
LG unveils younger, dynamic brand identity
LG Electronics introduced a new brand identity highlighting the value of its slogan “Life’s Good” to actively communicate with customers beyond generations and locations, the South Korean consumer appliance giant said Wednesday. The conglomerate shared its new brand communication guidelines with its employees all around the world, outlining a new direction for the brand for a younger and dynamic image, and ultimately, to establish itself as an iconic brand. “Having a stro
Industry April 12, 2023
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Samsung Display to supply OLED panels for Ferrari cars
Samsung Display, the display arm of Samsung Electronics, has clinched a deal to supply organic light emitting diode panels for Ferrari’s next generation automobiles, the company said on Tuesday. Samsung Display CEO Choi Joo-sun and Ferrari CEO Benedetto Vigna agreed for the Korean display maker to supply the OLED panels and support the luxury automaker’s latest effort for digital transformation, the company said. “Based on our extensive expertise in OLED technology, we are po
Industry April 11, 2023
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S. Korea, UK work together on nuclear power, clean energy
South Korea and Britain agreed to strengthen cooperation on nuclear power and clean energy, releasing a joint declaration Monday. South Korean Industry Minister Lee Chang-yang met with British Minister of Department for Energy Security and Net Zero Grant Shapps in Seoul and agreed to work together to secure energy security and handle climate change, the Korean Ministry of Trade, Industry and Energy said. Exchanging their thoughts on the importance of energy transition, the two ministers issued a
Industry April 10, 2023
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LG Electronics CEO travels to Southeast Asia to further market dominance
LG Electronics Chief Executive Officer Cho Joo-wan traveled to Vietnam, Indonesia and Thailand last week to inspect the company's key production facilities in Asia, the Korean consumer appliances giant said on Sunday. On the three-day tour, Cho met with the heads of the company's regional corporations and discussed ways to boost competitiveness and further dominance in the global market, LG said. The CEO also inspected the key plants that produce automotive parts, home appliances and T
Industry April 9, 2023
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LG’s top brass joins forces to garner support for Busan’s Expo bid
As South Korean business leaders play a key role in attracting support for Busan’s bid to host the World Expo 2030, LG Group’s top executives traveled around the world to win votes. In October last year, Chairman Koo Kwang-mo visited Poland to meet with Polish Prime Minister Mateusz Morawiecki, requesting the country’s support for Busan’s Expo bid. “Busan is South Korea’s second largest city, and it is also where LG first started its business. Busan is also wh
Industry April 6, 2023
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[Photo News] Samsung's big bet on display
South Korean President Yoon Suk Yeol (center), Samsung Electronics Chairman Lee Jae-yong (third from left) and other government and company officials pose for a photo at Samsung Display’s Asan Campus in Gyeonggi Province on Tuesday in celebration of the tech giant’s new 4.1 trillion won ($3.1 billion) investment into upgrading production lines of high-end display panels by 2026. Samsung said its planned investment could help facilitate related industrial ecosystems as well as the loc
Industry April 5, 2023
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Busan's historic trade port to turn into BIE big data hub
South Korea has proposed turning its first trade port in Busan, the North Port, into a big data center storing the history and legacy of Bureau International des Expositions, if it succeeds in its bid to host the World Expo in Busan in 2030. The Busan Expo bidding committee made the proposal to the BIE delegation while it was here for on a six-day inspection trip, which began Sunday. The next World Expo will take place in 2030, the year the BIE marking its 100th anniversary. Bidding to host the
Industry April 5, 2023
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Korea vows all-out efforts to fight trade deficit
Experiencing a trade deficit for more than 13 consecutive months, South Korea will make pangovernmental efforts to lead a turnaround in trade, introducing support programs to foster key industries, the Trade Ministry said Monday. The Ministry of Trade, Industry and Energy said it held a trade inspection meeting in Seoul with related government agencies to find ways to deal with the continuing fall in trade. “While the country logged a massive trade deficit in January, the balance is gradua
Industry April 3, 2023
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KT plagued by unprecedented leadership vacuum
South Korean telecommunications giant KT Corp. is in shambles due to an unprecedented leadership vacuum, with not only its chief executive, but also almost all of its board members stepping down amid speculations of revolving door appointments. Just before the start of this year's regular shareholders meeting on Friday, KT's three outside board members -- Kang Chung-gu, Pyo Hyun-myung and Yeo Eun-jung -- announced their resignations, leaving the board in almost complete vacancy. Kim
Industry March 31, 2023
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Naver to support Saudi Arabia in building city-scale digital twin, super app
Naver will support Saudi Arabia in creating a city-scale digital twin and developing a “super app” using its advanced technologies, the South Korean internet giant said Thursday. Naver said the company and its artificial intelligence and cloud service affiliates Naver Labs and Naver Cloud signed an agreement with the Saudi Arabian Ministry of Municipal and Rural Affairs and Housing, or MoMRAH, and the Ministry of Investment, or MISA, to cooperate on the Middle Eastern country&rsquo
Industry March 31, 2023
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Korean chips act aims to extend tax cuts for local chipmakers
South Korea on Thursday passed a revision bill deemed the “Korean chips act” with greater tax breaks for investments in the semiconductor industry to lighten the burden for Korean chipmakers competing in the global chips arms race. The National Assembly passed a revision bill to the Restriction of Special Taxation Act, which raises the corporate tax break for facility investment in the semiconductor and other strategic industries to 15 percent for large corporations such as Samsung E
Industry March 30, 2023
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SK hynix CEO says won't cut production further
SK hynix, the world's second-largest memory chip maker, will not carry out an additional cut in chip production this year, and will stick to its plan to build an advanced packaging plant in the US, the company's chief executive officer said Wednesday. Speaking at a shareholders meeting at the company's headquarters in Icheon, Gyeonggi Province, SK hynix Vice Chairman and co-CEO Park Jung-ho forecast the demand for chips to recover in the second half of this year. But as uncertaint
Industry March 29, 2023
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[From the scene] Hype vs. reality of Apple Pay in Seoul
Last Sunday in Seoul’s bustling Hongdae district, a couple in their 20s walked into a crowded Baskin Robbins store, and inquired if they could pay using Apple Pay. Moments later, their payment went through and their faces beamed with joy. “The hype was real. It (Apple Pay) is so fast and convenient. We are addicted to the ‘ding’ sound that we hear when the payment goes through on Apple Pay,” the couple said. Apple Pay made its official debut in Korea on March 21, al
Industry March 28, 2023
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LG Display secures W1tr from sister unit
LG Display has decided to borrow 1 trillion won ($770.1 billion) from LG Electronics to secure operation funds, as the Korean display maker struggles to make ends meet amid sluggish demand. In a regulatory filing on Monday, LG Display said it decided to borrow 1 trillion won from LG Electronics at an interest rate of 6.06 percent for three years starting from Friday. The display maker would only be obligated to pay the interest during the first two years, and must pay back the loan by the rema
Industry March 28, 2023
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LG stays low key on its 76th anniversary
South Korea’s fourth largest conglomerate LG Group marked its 76th anniversary on Monday. Unlike last year, the group did not plan a special event and LG Group Chairman Koo Kwang-mo did not deliver a celebratory message. “We usually do not really plan events on anniversaries, unless it is every five or 10 years. Last year was a little different because it was the 75th year,” an LG Group official told The Korea Herald. For last year’s anniversary, Koo delivered an encourag
Industry March 27, 2023
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