Samsung Electronics said on Tuesday it is starting sales of its latest flagship smartphone the Galaxy S24 globally, largely buoyed by record preorders made at home over the past week. The new phone, dubbed the world’s first smartphone powered by artificial intelligence, is expected to hit the shelves first in key markets, including the US, Britain, Singapore, France, and India, from Wednesday. Ultimately Samsung aims to launch the phone in some 120 countries. “The launch of the Galax

A recent survey released Tuesday by Encar, the largest used car platform in Korea, has revealed a shift in consumer preferences toward gasoline vehicles for new car purchases in 2024, with them regaining prominence over hybrids and electric vehicles, which were the top choices in 2022. The survey, titled "What's Your Next Car in 2024?" and conducted over a week in mid-January, involved 2,090 participants. 65.3 percent of these car owners plan to sell their current vehicles, primar

The South Korean government has disapproved global investment firm BlackRock's proposal to construct an extensive offshore wind power plant in South Jeolla Province due to insufficient evidence of financial ability and lack of electricity infrastructure in the area. According to energy industry sources on Tuesday, the Ministry of Trade, Industry and Energy's electricity committee recently dismissed all five Sinan offshore wind power generation projects proposed by BlackRock's subs

LX Pantos, the logistics arm of LX Holdings, said Tuesday that it has signed a partnership with Korea East-West Power Corp., an affiliate of the state-run Korea Electric Power Corp., to ramp up production of eco-friendly solar power as part of its efforts to cut emissions. Under the agreement, LX Pantos will provide some 18,000 square meters of roof space at its logistics center in Ansan, Gyeonggi Province, to build the Kepco affiliate’s 2.5-megawatt solar power station. The energy firm

Samsung SDI said Tuesday it posted an all-time high revenue last year with robust growth in sales of electric vehicle batteries. In its earnings report, the company said annual sales revenue soared 12.8 percent to 22.7 trillion won ($17.1 billion). Its operating profit, on the other hand, dropped 9.7 percent to 1.6 trillion won due to sluggish sales of small batteries and electronics materials. “Although we missed the profit target for last year, the EV battery business has seen 38 percent

The Industrial Bank of Korea on Tuesday said it is recruiting participants for the second “IBK Changgong Silicon Valley Accelerating Program,” which aims to give emerging ventures and startups momentum in the overseas market. IBK has joined hands with 500 Global, an international venture capital firm, to identify innovative startups and to jointly undertake the global accelerating program. The startups chosen to participate in the program will be provided with exclusive opportunities

Gwangjang Market, a traditional market in central Seoul, is one of the most popular tourist destinations in the capital, offering a wide range of local foods and snacks. If you google the market, almost nine out of 10 reviews are about a petite-sized gimbap, or seaweed rice roll, with the intriguing name, “mayak gimbap.” "Mayak" means “narcotics” in Korean. Of course, nothing advertised as "mayak gimbap" actually contains any restricted drugs. The name

Senior officials from South Korea and the United States discussed cooperation in space exploration as Seoul pushes ahead with the establishment of its independent space agency in May, officials said Monday. First Vice Science Minister Cho Seong-kyung met with Pam Melroy, the deputy administrator of the National Aeronautics and Space Agency, during her visit to the US last week and discussed measures to expand space cooperation between the two countries, according to the Ministry of Science and I

Celltrion has completed its submission of a biologics license application (BLA) to the US Food and Drug Administration for CT-P47, a biosimilar candidate mimicking Roche’s rheumatoid arthritis treatment Actemra (tocilizumab), the company said Monday. The BLA submission was based on results from the global phase 3 clinical trial involving 471 patients. In the clinical trial, the company tested the efficacy, pharmacokinetics, safety, and immunogenicity of CT-P47 compared to the reference pro

South Korea’s top conglomerates are announcing their plans for employee compensation for 2023 following mixed earnings reports last week. LG Electronics, which posted another year of record sales, pledged to give out hefty bonuses to employees, while the nation’s top two chipmakers, Samsung Electronics and SK hynix, hit hard by a chip slump last year, seem to be tightening their belts, reducing spending including on employee benefits. LG Electronics, the crown jewel of the nation&r

Dell Korea chief praises Korean firms' faster, more extensive embrace of AI compared to Asian rivals

LG Group said Monday it supported an art program showcasing three artificial intelligence-integrated artworks of Brooklyn-based artist Stephanie Dinkins at the Solomon R. Guggenheim Museum in New York on Thursday. “Late Shift x Stephanie Dinkins” shed light on how AI tends to have the mindset of the majority, easily overlooking and further ostracizing those living in the gray areas of society. Dinkins is an artist who uses cutting-edge technologies such as AI, augmented reality and v

UK luxury car manufacturer Bentley Motors said Monday it achieved an all-time high sales record in the South Korean market last year, making it the leading market in the Asia-Pacific region and the fifth largest globally for the second year running. Bentley Motors Korea accelerated its sales trajectory in the domestic market for the third year in a row, with 810 units sold in 2023, surpassing the sales milestones of 506 units in 2021 and 775 in 2022, according to data from the Korea Automobile I

Korea Ginseng Corp., the nation’s leading ginseng manufacturer which has represented the Korean red ginseng industry for the past 125 years, is now taking a new leap forward for the health of people around the world. As an unrivaled market leader making up some 70 percent of the nation’s red ginseng market, KGC attributed its high-quality red ginseng to the quality control and manufacturing know-how it has accumulated over the last 125 years. According to JungKwanJang, KGC's flagship

Kim Jun-hyung, CEO of Korean battery materials manufacturer Posco Future M, urged the Ministry of Environment to reinforce measures to boost the rechargeable battery industry, according to the company on Monday. Kim met with Lim Sang-jun, deputy minister at the Environment Ministry, who visited the company’s artificial graphite anode materials manufacturing plant in Pohang, North Gyeongsang Province, earlier in the day. Posco Future M shared its achievements in the cathode and anode materi