Daewoo Engineering & Construction said Sunday it has succeeded in developing a remote drone control system, the first by a South Korean construction company.Daewoo Construction Drone Surveillance (DW-CDS) is capable of remotely and comprehensively controlling drones at a control center through an exclusive application and program. It can also monitor up to 256 sites simultaneously by transmitting video to its control platform called CDS.Live on 4G and 5G networks, the firm said The system su

Heads of Samsung Electronics and LG Electronics are to attend the Consumer Electronics Show 2020 in Las Vegas from Jan. 7-10.Samsung’s Consumer Electronics division CEO Kim Hyun-suk will deliver the keynote speech on Jan. 6, the company said Sunday. LG’s president and chief technology officer Park Il-pyung had been the keynote speaker at the CES 2019.  Top officials from Samsung to attend the CES 2020 are Device Solution division’s vice chairman and CEO Kim Ki-nam, IT &

Air carrier’s huge debt and unstable cash flow still heavy burden for midsized construction firm

South Korea's science ministry said Sunday that it will inject 76.1 billion won ($65.6 million) into its artificial intelligence hub program in 2020 as part of an ongoing effort to bolster the country's competitiveness in the sector.The reading marks a more than two-fold increase from 31 billion won allocated for this year and more than an eight-fold surge compared with 9.2 billion won spent in 2018 when Seoul launched the endeavor.  The ministry's AI hub is an open portal that can be used

South Korea's science ministry said Sunday it will allocate 26.9 billion won ($23.2 million) in 2020 to further expand the country's innovative drone capabilities.Of the total, 13 billion won will be used to secure original technologies, with 6.7 billion won to go drones that make use of 5G and artificial intelligence technologies, the Ministry of Science and ICT said. It said funds will also be set aside for public procurement. The amount to be spent in the new year is up 94 percent from 13.9 b

South Korea's annual exports of machinery surpassed the $50 billion threshold, data showed Sunday, standing as the second-largest export item for Asia's No. 4 economy after semiconductors.The country's outbound shipments of general machinery are estimated at $52.5 billion this year, according to the Ministry of Trade, Industry and Energy.The country's machinery exports surpassed the mark for the first time last year by shipping $53.5 billion, up 10 percent from a year earlier. Machines are the s

South Korea's auto market is expected to grow 1.2 percent next year, turning around from this year's estimated 3.6 percent contraction, a report showed Sunday.According to the report compiled by Hyundai Motor Group, the country's auto market is expected to reach some 1.77 million units next year, following this year's estimated 1.75 million units.The report said the United States, the world's largest auto market, will suffer a drop in auto sales for the second consecutive year, while China will

More Japanese tourists have visited South Korea than South Koreans have visited the Asian neighbor since August, data showed Sunday, after their countries have been engaged in an unprecedented trade row, sparking a boycott of Japanese goods and services here.The number of Japanese visiting South Korea reached 329,652 in August, while that of South Koreans visiting Japan came to 308,730, according to the data compiled by the tourism promotion agencies of both countries.It marked the first time in

The sales of SUVs in Europe by South Korea's top two carmakers -- Hyundai Motor Co. and Kia Motors Corp. -- may hit a record high, probably surpassing the 500,000-unit mark, aided by its diversified portfolio and strong demand, industry sources said Sunday.According to the sources, the two carmakers have sold some 460,000 SUVs in the European market through November, already nearing last year's 467,550 units in total. Should the pace be maintained, their annual sales of SUVs in Europe will top t

South Korean shipbuilders, led by top player Hyundai Heavy Industries Co., are expected to maintain their status as the world's top position in new orders this year, although they may fail to meet their annual order targets, industry sources said Sunday.According to the sources, South Korean shipbuilders have secured new orders totaling 7.12 million compensated gross tons to build a total of 168 ships through November, accounting for 36 percent of the total deals placed around the globe.Chinese

Samsung Electronics Co. is set to release a new foldable smartphone that folds like a clam in February before the release of the upcoming flagship Galaxy S11 next year, industry sources said Sunday.The South Korean tech giant is currently in talks with the country's three mobile carriers to release its second foldable smartphone at home, with a goal of releasing it in February, according to the sources.Samsung Electronics will hold its Unpacked event in the United States in mid-February, where i

BMW Korea has virtually won a lawsuit against the over 60 billion-won (US$51.7) fine imposed by the government over the auto company's gas emission verification, sources said Saturday. In September, the Supreme Court of Korea convicted BMW Korea of illegally skipping the compulsory gas emission verification process and forging related documents in the period of 2012-2017, leading to the government's imposition of a 62.7 billion-won fine on the company. Protesting the decision, BMW Kore

South Korea’s telecom giant KT said Friday its board of directors has approved the appointment of current head of customer and media division Koo Hyun-mo as the new chairman.  Koo will be officially appointed as KT’s new leader following the final approval at a shareholders meeting scheduled in March. When Koo is appointed, he will be the first insider to take the helm at the formerly state-owned company in 12 years. Over the period, former CEOs -- Hwang Chang-gyu Hwang and Lee

HDC Hyundai Development Co., a midsized construction company, signed a deal on Friday to acquire Asiana Airlines Inc. as the South Korean builder strives to diversify its business portfolio.In their board meetings held early Friday, HDC and Kumho Industrial Co., a construction unit of Kumho Asiana Group, approved the deal.The signing comes after the consortium formed between HDC and Mirae Asset Daewoo was picked the preferred bidder last month to acquire a 30.77-percent Asiana stake held by Kumh

The prosecution said Friday that it has indicted the chief of South Korean textile and chemical conglomerate Hyosung Group without detention on charges of violating the fair trade law."We indicted Hyosung Group Chairman Cho Hyun-joon the previous day," the Seoul Central District Prosecutors Office said.Earlier, the Fair Trade Commission had reported the 51-year-old Cho to the prosecution for providing unfair financial assistance to ailing Galaxia Electronics Co., a Hyosung affiliate in