Samsung Electronics vice chairman on Wednesday met with two leading experts in artificial intelligence to share the latest industry trends and strategies for future businesses, the company said. Lee Jae-yong, de facto chairman of the South Korean tech giant, met with Yoshua Bengio, professor of the University of Montreal, and Sebastian Seung, professor at the Princeton Neuroscience Institute and Department of Computer Science, who were in Seoul to attend Samsung's AI forum held early this week.&

Hyundai Oilbank Co.,  a major refiner in South Korea, said Wednesday it will run an oil terminal in Vietnam to tap deeper into the Southeast Asian market. The affiliate of Hyundai Heavy Industries Group said it has leased an oil depot in Ba Ria-Vung Tau, some 80 kilometers southeast of Ho Chi Minh City, that can store 200,000 barrels of petroleum products.  The facility can also accommodate large crude carriers, it added. Hyundai Oilbank said the terminal will serve as its export hub f

South Korean online gamemaker NCSOFT Corp. said Wednesday the new mobile version of its mega-hit game "Lineage 2" will be launched later this month."Lineage 2M" will be available Nov. 27, the company said.Players will be able to experience the massively multiplayer online role-playing game for the mobile platform."Lineage 2M," which integrates NCSOFT's technology and expertise built over the past 20 years, will feature full 3-D graphics.NCSOFT said over 7 million pe

Hanjin Heavy Industries & Construction Co., a midsized shipyard in South Korea, said Wednesday it has won a 70-billion-won ($60 million) order to build the country's first multi-purpose very large oil spill response vessel. Under the deal with state-run Korea Marine Environment Management Corporation, Hanjin Heavy will deliver a 5,000-ton OSRV by 2022. The vessel will be built at the company's shipyard in Busan.  South Korea has more than 60 500-ton OSRVs, but due to their small size, t

LG Electronics said Tuesday it has filed a lawsuit against Hisense with a US court, accusing the Chinese TV maker of infringing four of its patents.The South Korean tech giant claims that most of the Hisense TV models being sold in the US use as many as four of its patented technologies. They include those that improve user interface and speed up data transmission based on Wi-Fi.In the suit filed with the District Court of California, LG demanded Hisense stop using its patented technologies and

The trade megadeal among 15 Asia-Pacific countries can be expected to provide South Korean exporters with new opportunities to enter fast-growing and promising markets in Southeast Asia and lay the foundation for a future trade bloc consisting of Korea, Japan and China, according to experts. After seven years of negotiations, the leaders of 15 nations reached agreement on Monday on all 20 chapters of the Regional Comprehensive Economic Partnership and expressed their willingness to sign it in 20

LS Cable & System and Korea Electric Power Corp. said Tuesday that they have for the first time in the world succeeded in commercializing superconducting cable technology thorough their joint projects.　The commercial service has been launched in Yongin, Gyeonggi Province -- in a 1-kilometer section between Heungdeok substation and Singal substation 　Including LS Cable & System, five companies in Europe, Japan and the US have obtained superconducting cable technology so far, however the S

South Korea’s leading golf simulator maker, Golfzon, launched last week its first store in the US under its new brand Zstrict, as parts of its effort in expanding sports entertainment business in the country, the company said Tuesday.Located in Chelsea Piers, a sports complex in Connecticut, Zstrict offers tournament-type golf games that allow players to participate simultaneously against each other in numerous competitions for cash and rewards.  With cash and rewards gained by comple

Samsung Electronics is particularly focusing on development of artificial general intelligence technologies as part of efforts to innovate user experiences for digital customers, said the company’s mobile unit chief at a forum on Tuesday. Koh Dong-jin, CEO of Samsung’s smartphone business, opened the second day of the Samsung AI Forum with opening remarks that highlighted the importance of user experiences at the company research and development campus in Yangjae-dong, southern Seoul

Samsung BioLogics and US’ Ichnos Sciences inked a long-term agreement for the latter’s contract development of an atopic dermatitis treatment, the companies said Tuesday. This is a continuation of the 10 billion-won ($8.61 million) contract inked between the two in June 2018. For an additional 6.3 billion won, BioLogics will produce the drug substance for Ichnos’ atopic dermatitis treatment pipeline ISB 830 for clinical phase 3 trials and potentially manufacture for the global

Sales and profit of South Korean companies slowed down significantly in 2018 from a year earlier, though their financial stability improved slightly, a central bank report showed Tuesday, possibly indicating the start of economic headwinds that continue to haunt Asia's fourth-largest economy.In 2018, the combined sales of non-financial firms here rose 4 percent from the year before when the comparative figure jumped 9.2 percent on-year, according to the report from the Bank of Korea.Their averag

Amusement park to include attractions dedicated to Korean storylines and culture

Imported car sales in South Korea rose 6.2 percent on-year last month helped by new models, but Japanese brands still struggled feeling the pinch of a boycott against Japanese goods amid trade tensions between Seoul and Tokyo, industry data showed Tuesday. The number of newly registered foreign vehicles rose to 22,101 units in October, up from 20,813 a year earlier. But Japanese vehicle sales plunged 58 percent to 1,977 from 4,756 during the same period, the Korea Automobile Importers & Dist

Samsung Electronics Co., the world's largest memory chipmaker, has stopped development work on its custom central processor unit cores at its R&D centers in the United States, company officials said Tuesday.Samsung has notified the Texas Workforce Commission of its decision to lay off about 290 members of the custom CPU core teams in Austin and San Jose as of Dec. 31, the Korean tech company said. Starting in 2012, the project has produced custom CPU cores for the Exynos series, its own mobi

FRANKFURT -- Celebrating its 30th anniversary, CPhI Worldwide 2019 is being held in Frankfurt, Germany, this week, with over 45,000 participants from the pharmaceutical industry.At the biggest global annual pharma event, participants will attend a three-day course from Tuesday on the latest medical solutions while getting a chance to network with peers. Presentation on the different pharma development and manufacturing processes, technology and products are scheduled at six subevents.In the main