Samsung Electronics Chairman Lee Jae-yong took off to Britain over the weekend to join a presidential delegation, according to industry sources on Monday, as he faces a decisive ruling that could possibly lead to a leadership vacuum for the global tech giant. Lee is taking part in the presidential economic delegation involving other conglomerate chiefs including Hyundai Motor Chairman Chung Euisun and LG Group Chairman Koo Kwang-mo. SK Group Chairman Chey Tae-won, who doubles as the head of the

LG Electronics displayed its LG Styler ShoeCase and ShoeCare at ComplexCon 2023, a curated festival of culture, fashion and music, held in Long Beach, United States in the weekends, the company said on Monday. The tech giant said Jeff Staple, the founder of menswear brand Staple Pigeon, visited its showroom set up at the festival where rare and unique sneakers are sold as special edition. LG Styler ShoeCase a space-friendly solution for shoe storage and showcasing sneakers. (LG Electronics)

Hana Financial Group on Monday announced the establishment of South Korea’s first privately led “venture fund of funds” with an investment of 100 billion won ($77.44 million). The announcement follows the Ministry of SMEs and Startups’ proposal last year to expand funding for venture capital and boost the startup industry together with the private sector. The launch ceremony, which was attended by SMEs and Startups Minister Lee Young and Hana Financial Group Chairman Ham

SK Telecom’s decadeslong involvement in Korean esports has once again reaped dividends -- at least in glory -- as its T1 won the 2023 League of Legends World Championship title for a fourth time Sunday, defeating Weibo Gaming of China. The top telecom carrier in terms of membership launched T1 in 2004 when the nation’s esports industry was still in its nascent stage, as part of efforts to better engage with younger generations. As LoL, the multiplayer online battle arena game, star

Hyundai Motor Group is expected to post record sales in the UK, the second-largest automotive market in Europe, this year, according to industry estimates Monday. The carmaker sold 173,428 vehicles in the UK in the January-October period this year, up 8.7 percent from the same period last year, the Society of Motor Manufacturers & Traders said citing corporate filings. Its market share stood at 10.8 percent. If the current sales momentum continues, the carmaker said, its car sales are highly

In this second installment of our series on automotive cybersecurity, we delve deeper into the strategic approach to regulatory compliance, focusing on Vehicle Type Approval (VTA) and its challenges. Until five years ago, carmakers were hesitant to introduce cybersecurity measures in vehicles despite being aware of their necessity due to cost issues. However, when the European Union introduced cybersecurity regulations in 2022, it became virtually impossible to enter the European market without

Fabless startup's tech chief says being part of SK's global ecosystem is 'big advantage'

SK Square, SK Group’s investment unit, has scrapped negotiations with Singapore-based e-commerce giant Qoo10 on selling shares of its online retail platform operator 11Street, according to local retail industry sources, Sunday. SK Square is not expected to resume talks with Qoo10 and may search for other investors who are interested in making an investment in 11Street, the sources said. Since September this year, SK Square had been in talks with Qoo10 for sale of an 18.2 percent stake in

Daewoo Engineering & Construction will beef up its presence in the Indonesian market where the country has high demand for infrastructure arising from capital relocation and economic development. “Indonesia has the largest construction market among (Association of Southeast Asian Nations) member states, thanks to its (population of) 270 million, large land size and over 5 percent annual economic growth rate,” said Han Seung, executive vice president of Daewoo E&C’s over

BUSAN -- Key game industry players, such as NCSoft and Netmarble, showcased their latest projects at the G-Star 2023 game exhibition held in Busan last week, delving into unexplored genres with high production values and top-notch graphics The event, hosted by the Korea Association of Game Industry and the Busan IT Promotion Agency, featured a record number of 3,328 booths with participation from 1,037 companies across 42 countries. Notably, NCSoft made a significant return after an eight-year

Alternative nicotine products can have a "significant" impact on reducing smoking rates as demonstrated by case studies in Japan and Sweden, a report showed Friday. In a policy paper dubbed “Safer Nicotine Works,” Tholos Foundation said it has found that alternative nicotine products, ranging from snus, nicotine pouches and gum to vapes and tobacco heating products, help people quit smoking cigarettes. Japan saw smoking rates, those that smoked cigarettes daily, decline fro

BUSAN -- NCSoft CEO Kim Taek-jin declared the company's strategic shift from its traditional roots in Lineage, its series of massively multiplayer online role-playing games -- or MMORPGs -- to diverse gaming genres, responding to a downturn in earnings and a shift in gamer preferences. The CEO made this announcement during an unexpected appearance at the company's booth at G-Star 2023 gaming expo held last week in Busan. "Our objective is to delve into a multitude of gaming genres

BUSAN -- Naver Z, the metaverse subsidiary of South Korean internet giant Naver, is planning a version of Zepeto for Apple's first wearable headset device, embracing the US tech behemoth's concept of spatial computing. “We are preparing to showcase something special for headsets such as Apple's Vision Pro," Lee Seung-won, Nazer Z's developer relations director told The Korea Herald during a marketing talk at G-Star Game Conference 2023, part of the G-Star gaming ex

EcoPro said Sunday it has joined hands with SK Ecoplant and its electronics waste recycling subsidiary, TES, to set up an electric vehicle battery recycling plant in Hungary. EcoPro CEO Song Ho-jun, SK Ecoplant CEO Park Kyung-il and TES CEO Terence Ng participated in the signing ceremony held at SK Ecoplant’s headquarters in Jongno, Seoul, Thursday. By 2025, the three companies will build recycling facilities in Hungary -- the first project under a business agreement made in March targetin

South Korean battery makers' combined research and development investment this year has climbed over 12 percent on-year despite a slowdown in global demand for electrified vehicles, industry data showed Sunday. According to latest quarterly reports of LG Energy Solution Ltd., Samsung SDI Co. and SK On Co., their combined R&D investment during the January-September period amounted to 1.78 trillion won ($1.38 billion), up 12.5 percent from 1.58 trillion won for the same period of last yea