LAS VEGAS -- Samsung Electronics and LG Electronics boasted their technological prowess with up-to-date developments of connected car platforms exhibited at the world’s biggest technology show that kicked off Tuesday.LG Electronics showcased a connected car model for the first time this year at the Consumer Electronics Show 2020 in Las Vegas. The company exhibited the connected car model, co-designed with automotive seating supplier Adient, next to the AI ThinQ zone at its booth, offering

Merger with Kolmar’s pharma division not on cards, likely to be renamed to show affiliation

LG Electronics said Wednesday its fourth-quarter operating profit is expected to have increased by more than 30 percent from a year earlier, but the performance was below analyst expectations. The annual sales, however, are expected to reach an annual record high of 62.31 trillion won ($53.22 billion), up 1.6 percent from a year earlier. The operating profit will be around 2.4 trillion won for the whole of last year, a year-over-year decline of 10 percent, in the firm’s regulatory fil

South Korean mobile carrier SK Telecom said Tuesday it has signed a memorandum of agreement with Hong Kong-based all-electric vehicle brand Byton to cooperate on next-generation mobility. The two companies signed an MOU at the Consumer Electronics Show in Las Vegas, the world’s largest annual tech show that is currently underway.Last year, Byton’s parent company, Future Mobility, signed a deal with Korea’s Myongshin to build electric sport utility vehicles in Korea -- with

‘Ballie’ may or may not be commercialized

Following Iran’s latest attack against American military bases in Iraq, Korean construction companies operating projects in the Middle East are on high alert, according to industry sources Wednesday.Along with safety concerns, industry officials also worry that the security situation in Iraq and Iran would influence Korean construction companies that sought to secure more orders in the region. South Korea’s Ministry of Land, Infrastructure and Transport said it is working with the Mi

Hyundai Motor, Uber join hands to develop ‘the world’s top personal air vehicle’

LAS VEGAS -- Samsung Electronics’ humanoid artificial intelligence chatbot Neon and its current platform Bixby will complement each other, said Chung Eui-suk, head of the mobile division’s software R&D on Tuesday in Las Vegas. Chung told The Korea Herald that unlike Bixby which is embedded as a software in devices, Neon makes virtual humans that act like real people.“The Neon platform will be complementary with Bixby, but goes beyond what Bixby does,” said the ex

South Korea said Wednesday it will spare no efforts to revitalize the country's petrochemical industry facing a prolonged slump amid growing protectionism and competition.The country's exports of petrochemical products surrendered 14.8 percent in 2019 from a year earlier to $42.5 billion, according to the Ministry of Trade, Industry and Energy.Outbound shipments of petroleum goods also sank 12.3 percent over the cited period to $40 billion. The two segments each represented the fourth and fifth-

LAS VEGAS -- The memory chip market is starting to show signs of improving, leaving Samsung Electronics to deliberate carefully on the timing of the launch of its second memory chip plant in Pyeongtaek, Gyeonggi Province, according to Kim Ki-nam, vice chairman of the tech giant’s semiconductor business on Tuesday. “There are signs that make us believe the market is recovering,” the vice chairman told The Korea Herald in Las Vegas at Consumer Electronics Show 2020. “Howeve

Samsung Electronics Co. expected better fourth-quarter earnings Wednesday but suffered its worst performance in three years in 2019 due to a protracted slump in chip prices.The world's No. 1 memory chipmaker estimated its fourth-quarter operating income at 7.1 trillion won ($6.1 billion), down 34.26 percent from a year earlier, but the reading was well above the median market estimate of 6.5 trillion won, largely on the back of a slight recovery in chip prices and better-than-expected market res

Shinsegae Department Store said Tuesday its Gangnam branch recorded annual sales of 2 trillion won ($1.71 billion) in 2019, becoming the first single store to do so in the retail industry in South Korea.According to Shinsegae, its Gangnam branch in Seoul saw annual turnover exceed 1 trillion won in 2010, hitting the milestone just 10 years after it opened.  With the 2019 record, the department store joins the “2-trillion club” to stand shoulder to shoulder with global department

SK hynix said Tuesday it will showcase its latest memory chip solutions at the world’s largest annual tech show in Las Vegas. The memory product lineup of SK hynix at the Consumer Electronics Show this year includes its next-generation DRAM products, as well as other memory solutions related to future businesses that utilize artificial intelligence, augmented reality, virtual reality, automotive, internet of things, big data and 5G.The company, whose business profile heavily relies on

Korean tech giant declares ‘age of experience’ where people demand more new experiences with seamless devices

Hyundai Motor chief Chung Euisun vows to disrupt concept of transport with smart mobility