LG Electronics Inc. said Monday it has installed a large digital signage at the largest shopping mall in Delhi in the latest move to promote its organic light-emitting diode displays.The new signage, built at Ambience Mall, located in the capital city, utilizes a whopping 63 units of 55-inch OLED display.  This is digital signage installed by the company at Ambience Mall in Delhi, India. (Yonhap)Standing 8 meters tall, the signage are installed in a ring so that they can be observed at any angle

South Korean carmakers Hyundai and Kia have sold a combined 20 million vehicles in the US since entering what is currently the world’s second-largest market 33 years ago.Their accumulated sales marked 20.69 million units as of November, the companies’ data showed. Hyundai entered the market in 1985. Kia, after it was acquired by Hyundai, started selling vehicles there in 1994. (Hyundai Motor)By company, Hyundai has sold around 60 percent of the total, or 12.22 million units, while sister affilia

Admitting to falling short of mediating conflicts among old and new business models, committee pledges intensified role in second term

South Korea's actual exports in the information and communications technology sector fall way short of the projected amount the government has announced, a report submitted for parliamentary audit showed Monday.Some US$2.51 billion worth of ICT exports were expected from 2014-2018 through consultation sessions held both at home and abroad, according to the report from the Ministry of Science and ICT. The government spent 10.04 billion won ($8.94 million) to support the consultations during the p

Samsung on track to commercialize chips for self-driving cars starting with Tesla’s autonomous model slated for launch in March

The number of newly established companies in South Korea rose 4.2 percent on year in 2017, as the economy rebounded on robust exports, government data showed Monday. Some 913,000 new businesses were created last year, up 37,000 from the 876,000 tallied a year earlier, according to the data compiled by Statistics Korea. (Yonhap)They made up 15.1 percent of the 6.05 million "operational companies" doing business in South Korea last year, down slightly from 15.2 percent in 2016.The number of firms

South Korea’s largest steelmaker Posco plans to donate 10 billion won ($8.88 million) to assist underprivileged families, provide medical services and support the improvement of community housing by the end of the year, the company said Monday.Posco Group will donate 8 billion won while seven affiliates of Posco will contribute 2 billion won to the Community Chest of Korea. Posco Chairman Choi Jung-woo (Posco)Posco has been carrying out various outreach programs under the management philosophy o

A continued battle between the US and China to fight for global technological hegemony may pose higher risks to Korea’s two-biggest memory chipmakers, Samsung Electronics and SK hynix, next year, according to a report released by the Korea International Trade Association on Monday.During the latest G-20 summit, the US and China temporarily agreed to a cease-fire over their prolonged trade war. However, it will not be easy for the two nations to reach a sustainable agreement as the essence of the

Makers of e-cigarettes are employing an active marketing strategy, reaching out directly to consumers, industry officials said Monday.KT&G, Philip Morris Korea and British American Tobacco Korea have all set up departments to exclusively promote sales of their e-cigarettes and are increasing the number of their street stores. (Yonhap)Philip Morris was the first of the pack, opening a shop in June last year with the launch of its IQOS. It has since launched four more independent stores nationwide

LG Electronics Inc. said Monday it has installed a large digital signage at the largest shopping mall in Delhi in the latest move to promote its organic light-emitting diode displays.The new signage, built at Ambience Mall, located in the capital city, utilizes a whopping 63 units of 55-inch OLED display.  (Yonhap)Standing 8 meters tall, the signage are installed in a ring so that they can be observed at any angle, the company said. The displays will show off various advertisements, including th

Samsung Bioepis' Imraldi, a biosimilar for Humira, has earned more than 60 percent of the market in Germany, solidifying its landing in the European market, industry data indicated Monday.The tally, as of Nov. 13 by market researcher IQVIA, showed Imraldi accounted for 62 percent of the biosimilar market for Humira in Germany. The figure was reached less than a month after the South Korean drug company launched Imraldi in Europe on Oct. 17. (Yonhap)The Samsung affiliate had competed with Sandoz

South Korea's actual exports in the information and communications technology sector fall way short of the projected amount the government has announced, a report submitted for parliamentary audit showed Monday.Some $2.51 billion worth of ICT exports were expected from 2014-2018 through consultation sessions held both at home and abroad, according to the report from the Ministry of Science and ICT. The government spent 10.04 billion won ($8.94 million) to support the consultations during the per

Those who intentionally infringe patents and trade secrets of others will be subject to punitive damages starting June next year, South Korea’s intellectual property office said Sunday.The National Assembly on Friday approved bills to revise the Patent Act and the Unfair Competition Prevention and Trade Secret Prevention Act, which included reinforced penalties for violations, according to the Korean Intellectual Property Office.The median value of damages in patent infringement lawsuits here st

Government forecasts up to 10 billion won worth of air miles to expire on Jan. 1

Hyundai Motor and Kia Motors’ green car sales are widely expected to grow further in 2019 on the back of the government’s increased budget to expand the use of ecofriendly cars here, industry insiders said Sunday. The two flagship companies of Hyundai Motor Group sold a combined 257,861 units globally between January and November this year, up 10 percent on-year, according to officials.By vehicle type, sales of electric vehicles soared 112.4 percent to 52,370 units, plug-in-hybrids 51.9 percent