LG Display said Tuesday that it has developed the world’s first high-resolution stretchable display that can be elongated by 20 percent, a technological breakthrough with numerous potential industrial uses. According to the company, the full-color 12-inch display can be extended to a size of 14 inches. Despite the heightened flexibility, the display supports 100 pixels per inch, a similar resolution to other monitors on the market. Stretchable displays are also called “free-form disp

SEJONG -- South Korea's antitrust regulator said Tuesday it has added 58 new businesses to the list of companies affiliated with large business groups under tight supervision. The total number of affiliates on the Fair Trade Commission watch list reached 2,887 as of end-October, compared with 2,886 tallied three months earlier. Over the period, 57 companies were removed from the list following a merger, separation and other issues. SK Group added 11 additional companies under its wing, foll

S. Korea’s largest telecommunications operator sets goal of W40tr market cap by 2026

Major business lobby groups on Monday urged the National Assembly to swiftly approve a corporate tax reduction bill that the Yoon Suk-yeol administration introduced in July to help local businesses better respond to widespread fears of an economic recession on time. The nation’s six business groups, led by the Korea Chamber of Commerce and Industry, released a joint statement contending that the new measure should be implemented within this year for it to be effective by the second half of

Dutch chip equipment giant ASML Holding’s CEO Peter Wennink will visit South Korea next week to attend the groundbreaking ceremony of the company’s new Korean headquarters, located in Hwaseong, Gyeonggi Province, that aims to bolster responsiveness to local client demands. Korea is home to Samsung Electronics and SK hynix, the world’s top two memory chipmakers, which take up more than 30 percent of ASML’s total sales. For the new facilities, the Dutch firm will spend a to

Unity Technologies, developer of world-leading 3D graphics engines, discussed ways to improve the optimization and convenience for creators using its game-making tools at its annual Unite conference, the company’s Korea branch said Monday. The in-person Unite 2022 conference took place in Austin, Brighton in England, Copenhagen in Denmark, Montreal and San Francisco on Tuesday as it was also virtually open for all developers across the world. Headquartered in the US, Unity operates the wor

S. Korean IT giant’s quarterly operating profit falls for 1st time since Q1 last year

Hyundai Glovis is entering the fast-growing recycling market for used electric vehicle batteries by developing a renewable energy complex and power grid models in Shinan-gun, South Jeolla Province, the company said Monday. Joining hands with Korea Hydro & Nuclear Power, Sinan County Office and LS Electric, the company will set up energy storage systems using used batteries next year to help the eco-friendly transition of the county’s fuel-based power plant. Glovis said its ESS technolo

South Korea's defense-to-energy conglomerate Hanwha Group is expected to complete on-site inspection on Daewoo Shipbuilding & Marine Engineering this month, with plans to finish the acquisition process within the first half of next year, industry sources said Monday. Hanwha began inspection on DSME last month, but had extended the original four-week long period to six weeks, citing its need to thoroughly analyze DSME’s status and competitiveness in the market. The shipbuilder has

South Korea's leading kimchi maker Daesang said Monday it signed an agreement with a Polish food company to establish a joint venture to sell kimchi in Europe. Named "Daesang ChPN Europe," the joint venture will be 76 percent owned by Daesang and 24 percent owned by Charsznickie Pola Natury (ChPN), a Polish food product distributor. The new entity will be launched in January, next year. With this joint effort, Daesang said its popular kimchi brand Jongga will be able to enter the

Company aims to start construction of 5th plant by December

Naver Corp. on Monday reported its third-quarter net income of 231.6 billion won ($163.2 million), down 28.2 percent from a year earlier. The company said in a regulatory filing that it posted 330.2 billion won in operating profit for the quarter, compared with 349.8 billion won a year ago. Sales rose 19.1 percent to 2.05 trillion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 298.8 billion won, according to a survey by Yonhap Infomax,

‘Winter shutdowns’ from January to March due to safety checks, not default concern, Merlin says

South Korean power solutions producer LS Electric said Friday that a Thai delegation, led by Ambassador to Korea Witchu Vejajiva, recently visited its smart factory in Cheongju, North Chungcheong Province, and discussed ways to bolster business cooperation. During the visit on Thursday, the ambassador was accompanied by Nithi Patarachoke, president of Siam Cement Group, Thailand’s second-largest business group specializing in construction, chemistry and packaging. The Cheongju factory prod

Robots' penetration into the market depends on services that cater to 'human desires,' says KIRIA chief