Experts call on Seoul to breed global mindset among startups

South Korean aerospace and defense company Korea Aerospace Industries appointed Ahn Hyun-ho, a former vice industry minister, as its new chief executive at its board meeting Thursday. The new CEO replaces former leader Kim Jo-won, who is now serving as a senior presidential secretary to President Moon Jae-in. Ahn was to begin his three-year term immediately Thursday. “We will establish a foothold for KAI to leap forward by seeking new business portfolios,” said Ahn Hyun-ho durin

South Korea’s Daewoong Pharmaceutical said Thursday it is close to settling a legal dispute with its local rival Medytox, which accused it of stealing trade secrets through a former researcher. Daewoong’s Nabota, sold as Jeuveau overseas, is a neurotoxin drug to treat forehead wrinkles. The drug, approved by the US Food and Drug Administration in January, was to be commercialized by California-based firm Evolus in the second quarter of this year. In January, however, Medytox app

LG CNS announced Wednesday it will release for free KorQuAD 2.0, consisting of an additional 80,000 datasets, for the benefit of South Korea’s artificial intelligence industry.  The initial release of KorQuAD, short for the Korean Question Answering Dataset, comprises a South Korean machine reading comprehension dataset with over 20,000 question-and-answer sets compiled from Korean Wikipedia entries. It provides guidelines for AI and machines to learn how to extract answers from quest

Taycan uses LG Chem’s battery cell ‘redesigned’ to fit into EV sports car

Startup experts taking part in “Start-Up Seoul: Tech-Rise 2019” say that failure, along with a flexible environment allowing such failure, are critical factors for business operation and to eventually become a successful entrepreneur. “Everyone understands the important role of failure for progress, but failure is still so stigmatized in society. It is still punished within most organizational cultures,” Museum of Failure founder Samuel West told The Investor in a recent

South Korea’s No.1 mobile carrier SK Telecom said Wednesday it has joined hands with global IT software giant Microsoft to build a cloud gaming platform supported by the 5G network.Starting next month, a pilot version of Project xCloud will be available for LTE and 5G subscribers of SKT. Users can experience various games stored in the cloud without downloading them to their devices. At the core of the latest partnership lies the Xbox game console technology of Microsoft, according to SKT.

CEO expresses concern over union’s sit-in protest plan, vows to expand SUV lineup

Samsung Electronics has added a 5G modem-integrated chip edition to its mobile processor lineup Exynos, with the aim of popularizing 5G mobile devices, the tech giant announced Wednesday. Dubbed “Exynos 980,” it is the first artificial intelligence mobile processor with an integrated 5G modem in a single chip. The newest chip is being provided for customers this month and is scheduled to be mass-produced within the year.  Compared to previous chips that are separated from commun

Last November, when a fire broke out in the basement of a KT building in the Ahyeon neighborhood of central Seoul, those living in the country’s most wired city discovered how fragile their telecommunication system could be. 　Not only did residents find themselves unable to make calls or access the internet, but they were also restricted from using credit cards. An emergency room at a major hospital had to close temporarily as diagnosis data was shut down. Full recovery works took about a

Only a day remains to the beginning of this year’s IFA, Europe’s biggest annual trade show for consumer electronics in Berlin, Germany, where innovative, pioneering technologies from across the world gather for a showdown. IFA organizers Messe Berlin and gfu Consumer & Home Electronics said artificial intelligence will set the tone for trends at this year’s event. Many types of devices using AI are self-teaching and able to improve their performance for the user’

LG Chem said Wednesday it has partnered with US materials producer Universal Display to improve the performance of key materials of organic light-emitting diodes. The two companies signed a partnership agreement to develop the next-generation OLED emitting layer. It is comprised of a “host” that helps to emit light and “dopant” that emits a specific color.  Through the partnership, both firms aim to find the best combination with LG Chem’s low-voltage, long-liv

The World Energy Council, chaired by Daesung Group Chairman Younghoon David Kim, will host the 24th World Energy Congress from Monday to Thursday in Abu Dhabi, the United Arab Emirates, under the theme of “Energy for Prosperity.” About 15,000 people from the energy sector representing over 150 countries are expected to attend the event. They include representatives of global energy companies and international organizations, academics, heads of government and top energy department off

With the Chuseok holiday approaching, South Korea’s leading oil refiner S-Oil held a charity event at Sungsan Community Welfare Center on Wednesday. The event, titled “Sharing Songpyeon with S-Oil,” was attended by CEO Hussain A Al-Qahtani, along with some 100 executives and employees of the firm. They made songpyeon, a type of rice cake eaten during Chuseok, and donated food as well as gift sets consisting of groceries and daily necessities to 800 low-income families in the Ma

While it may not have the largest market share in South Korea, Renault Samsung Motors is playing a significant role with its active localization efforts.The local unit of French automaker Renault Group operates a plant in Busan that was ranked No. 8 for productivity out of 148 automobile plants worldwide in a 2016 evaluation by the Harbour Report.The company also contributes to the local economy. In 2017 it brought in more than 2.44 trillion won ($2 billion) for its suppliers, up 11.3 percent on