Govt dismisses rumor that it intentionally lowered 4G speed to attract 5G subscribers

Hyundai Motor said Wednesday its first-quarter operating profit came in at 824.9 billion won ($718 million), up 21.1 percent from last year, boosted by sales of its latest sport utility vehicle model Palisade, which hit the market in December. According to the automaker, first-quarter sales increased 6.9 percent to 23.9 trillion won, while net profit jumped 30.4 percent to 953.8 billion won.  Hyundai Motor’s Palisade (Hyundai Motor)Although Hyundai Motor’s global sales decreased 2.7 percent to 1

Samsung Electronics said Wednesday that it would invest a total of 133 trillion won ($115.7 billion) by 2030 to become the world’s No. 1 integrated device manufacturer by strengthening its competitiveness in the foundry and system-on-chip segments. The investment plan was announced a month after President Moon Jae-in ordered the government to take steps to boost the country’s competitiveness in the global non-memory market, amid growing worries about falling exports of memory semiconductors as t

The three-day Nexon Developers Conference kicked off Wednesday at Nexon Korea’s headquarters in Pangyo Techno Valley, Gyeonggi Province. The NDC began in 2007 as an opportunity for Nexon Korea employees to share knowledge internally. It has since become Korea’s biggest conference for sharing knowledge on game development.  (Lim Jeong-yeo/The Korea Herald)

Creditors of Asiana Airlines Inc. will funnel 1.6 trillion won (US$1.4 billion) into the cash-strapped airline to help it overcome a liquidity crisis, its main creditor said Tuesday.The Korea Development Bank-led creditors will buy 500 billion won worth of perpetual bonds to be sold by Asiana Airlines, open a 800 billion-won credit line to the airline and extend 300 billion won in the form of a standby letter of credit, a bank guarantee of payment on behalf of clients, the state lender said in a

Workers at GM Korea Co.‘s R&D firm voted to go on strike against the carmaker’s move to apply unfavorable wages and working conditions for the spin-off entity, GM Korea‘s union said Tuesday.　In a vote held Monday and Tuesday, 83 percent of 2,067 employees at the GM Technical Center Korea (GMTCK) agreed on industrial action to prevent the company from applying a “discriminative” collective agreement to them, a spokesman for the union said.　　“The union will hold talks with the company (on behalf o

South Korean tech giant Naver said Tuesday its translation service has become more popular than that of Google among South Korean users, with the number of people using Naver’s Papago app surpassing the Google Translate app by up to a million. According to data from local market research firm App Annie, the number of monthly active users for Papago reached about 5.65 million in March, while 4.73 million people used Google Translate in Korea. According to Naver’s statistics, also released by the

Telco firm turns to film directors, YouTubers, to select list of movies

South Korea’s chipmaking industry is watching closely an ongoing bid for the foundry business and fabrication line of MagnaChip, which was formerly owned by SK hynix, according to the industry on Tuesday. Officials in the semiconductor industry have named SK hynix as one of the most likely candidates for the acquisition of the foundry business and factory of MagnaChip, based in Cheongju, North Chuncheong Province, in the vicinity of SK hynix’s M15 memory chip plant. MagnaChip, which saw $751 mil

Automaker strives to pull up sales by diversifying sales channels, including discount stores

Korea, major player in crude oil market, seeking alternative countries would drive up costs

Steelmaking itself is not environment-friendly, but its byproducts can be, South Korean steel giant Posco said Monday, citing its application of slag and gases to the company’s conservation projects and businesses. 　On average, in the process of making 1 metric ton of steel around 600-700 kilograms of byproduct is produced, mostly slag. Posco’s Triton is installed for marine life conservation. (Posco)Slag, if the lime is separated, can be used as a fertilizer to improve the production of rice ar

Creating new sector, remaining true to scientific foundations key to success in Korea’s non-memory quest

Huawei Chairman Guo Ping defends long hours to catch up with global rivals

Market predicts automaker’s improved Q1 performance based on Palisade’s popularity