LG Innotek announced Monday it won the 2023 Edison Award in the commercial technology category for its ultrathin Nexlim magnetic component, which plays a crucial role in developing slim high-definition TVs. The world's thinnest magnetic component is used in TV power modules and vehicle chargers for voltage regulation and signal filtering. It improves energy efficiency in electronics and electric vehicles by reducing heat-induced power loss. LG Innotek started related research in 2017 as it

KB seeks new business opportunities in Singapore’s sprawling digital finance sector

Washington reportedly requested Seoul not to fill Beijing's shortfalls in chips

South Korean battery maker looks to commercialize solid-state battery in 2028

South Korean battery materials firm EcoPro said Monday it is poised to build a cathode manufacturing plant in Hungary, seeking to establish its footing in the burgeoning European electric car market. Under the 382.7 billion won ($287.2 million) investment, the company plans to produce 108,000 tons of cathodes annually, capable of supplying some 1.35 million electric vehicles. The plant is set to start production in 2025 after completing construction next year. EcoPro’s subsidiaries lin

Hyundai Mobis, a car parts maker affiliated with Hyundai Motor Group, said Monday it reached a total of $46.5 billion in overseas orders last year, a record figure that nearly doubled on-year. Its unique sales strategy, among other things, has proved effective in appealing to global carmakers, the company said. Hyundai Mobis currently operates sales units in its key production bases globally and the extensive global network now helps it secure a footing in the burgeoning parts market for electri

Korean tire manufacturer inks supply contract with Chinese EV maker Leapmotor

South Korean online game developer Netmarble said Sunday that the Chinese authorities have recently granted a service license to distribute a new online game based on its mobile role-playing game, “StoneAge World.” China’s National Press and Publication Administration, the agency in charge of licensing new video games, on Thursday released a list of 86 foreign games that have gained approval for domestic distribution. One of the newly approved games is “StoneAge: Awakenin

South Korean steelmaker Posco Group said Sunday it has been selected as the sustainability champion by the World Steel Association for two consecutive years, one of the industry’s top honors. Since 2018, the WSA has selected sustainability champions among its 140 member companies to recognize environmental, social and corporate governance efforts. Posco was one of the 10 companies selected this year. In order to win the recognition, companies are required to be selected as a sustainability

South Korea’s top conglomerate chiefs are heading to the US this week to accompany President Yoon Suk Yeol on his state visit, hoping to find a breakthrough in business uncertainties surrounding increasingly protectionist policies in the all-important market. Taking his biggest economic delegation to date in his weeklong state visit to the US from Monday, Yoon is expected to relay the difficulties Korean companies face with the US' introduction of the CHIPS and Science Act and Inflati

South Korean pharmaceuticals giant Celltrion last week announced a set of new workplace policies, including a stricter dress code, prompting complaints and mockery among young employees. According to the company on Sunday, the official dress code bans employees from wearing jeans and other casual attire such as hoodies, sweatpants, crew-neck tees and anything that has large brand logos. Instead, workers are advised to wear collared shirts, jackets, slacks and black sneakers. Celltrion allowed

Visitors try out Samsung Electronics devices at Samsung's pop-up store at Dubai Mall in Dubai, Friday. The pop-up store, marking the Eid Al Fitr, offers hands-on experiences of Samsung's latest mobile devices and home appliances, and SmartThings, its smart home platform.

Hyundai Mobis, a car parts maker affiliated with Hyundai Motor Group, said Sunday it has succeeded in demonstrating its upcoming self-driving technology, called e-Corner System, on public roads for the first time. The technology incorporates in-wheel motors, rotational steering and electronic braking in one module installed in the car wheels – the first of its kind globally. In a video unveiled by the company, Hyundai’s Ioniq 5, equipped with the module, completed tricky parking an

Karim Habib, Kia Corp.’s global head of design, looks around the carmaker’s exhibition booth themed “Opposites United” at the Milan Design Week 2023 in Italy, Friday. Kia was the only carmaker among the 12 finalists to be nominated for the Fuorisalone Award, a top prize given during the annual furnishing and design fair.

Samsung Electronics Co. is likely to post an operating loss in the second quarter on a chip downturn and decline in mobile demand, in what will be the first quarterly loss for the world's largest memory chip maker in nearly 15 years, according to analysts Sunday. Samsung Electronics could suffer an operating loss of as much as 1.28 trillion won ($961 million), according to an estimate by Hi Investment & Securities Co. Among the local brokerages that gave a similar outlook, SK Securities