Jeju Air Co., South Korea's biggest budget carrier, said Wednesday it has joined a consortium to provide urban air mobility (UAM) services in efforts to find a new growth driver. Jeju Air and five others formed the consortium to participate in the transport ministry-led K-UAM Grand Challenge project in the next two years to commercialize the UAM services by 2025, Jeju Air said in a statement. The five other firms are local refiner GS Caltex Corp., No. 3 telecom company LG Uplus, taxi-hailin

This photo unveiled Tuesday shows an 8-inch, 360-degree folding organic light-emitting diode screen for mobile devices by South Korean panel maker LG Display. It was showcased during Display Week 2022 hosted by the Society for Information Display from Sunday to Friday in San Jose, California. According to LG Display, the screen can be folded over 200,000 times without affecting its performance.

Honeymoon period in full bloom to fuel momentum to new president’s tech push

Samsung Electronics has reclaimed the No.1 spot by monthly sales in India, buoyed by the return of its Galaxy Note successor Galaxy S22 Ultra, a phablet with built-in stylus S Pen support, data showed Tuesday. Samsung emerged as the leader in overall smartphone sales and shipments for the first time in six months in the world’s second-largest smartphone market, showed data by market intelligence Counterpoint Research. In March, Samsung accounted for 22 percent by volume market share and

Chinese carmaker secures production footholds in Gunsan, Busan for hybrids, EVs, but entry to local consumer market remains uncertain, experts say

Samsung Electronics said Tuesday that it has developed the industry’s first 512-gigabyte Compute Express Link (CXL) DRAM module for servers that enables a higher memory capacity and lower latency suitable for artificial intelligence and cloud computing. The CXL-standard DRAM memory expander will allow a server platform in data centers and enterprise servers to add new layers of short-term memory capacity compatible with a processor chip without unnecessary costs and complexities, as oppo

Researchers at the Korea Advanced Institute of Science and Technology said they succeeded in real-time visualization and measurement of floral scent emission for the first time in the world. Using optical interferometry, research teams led by mechanical engineering professor Kim Hyoung-soo and biological sciences professor Kim Sang-gyu measured the frequency with which lily flowers emit scents. Floral scent sampling methods using gas chromatography-mass spectrometry have been used to measure t

SK E&S Co., an energy unit of South Korean conglomerate SK Group, said Tuesday it is investing $110 million in a US carbon capture and storage (CCS) project as it ramps up its push for its renewable energy business. The project, joined by other American energy firms, aims to capture and store up to 12 million tons of carbon dioxide a year from 32 corn ethanol plants in five Midwest states in the United States, the South Korean company said in a release. The construction of the carbon dioxide

Samsung C&T Corp., the construction unit of Samsung Group, has partnered with NuScale, the leading small modular reactor (SMR) technology provider, to expand its SMR business into the global market. Samsung C&T CEO Oh Se-chul and NuScale CEO John Hopkins gathered at the headquarters of NuScale Power in the US state of Oregon on Monday to form a comprehensive partnership for joint global SMR market development and expansion. Samsung C&T has been continuously enhancing its strategic

Belgium-based Umicore N.V. has completed its research laboratory for rechargeable battery materials in central South Korea that could help promote the local industry, the industry ministry said Tuesday. Umicore's central technology center is based in Cheonan, about 90 kilometers south of Seoul, and serves as the company's Asian hub for research and development of key materials for next-generation rechargeable batteries, according to the Ministry of Trade, Industry and Energy. Umicore, an interna

Renault Korea Motors said Tuesday an affiliate of China's Geely Holding Group will invest in the company as part of their parent firms' agreement signed early this year to develop an environment friendly vehicle. Geely Automobile Holdings, China's largest privately-owned automotive group, will acquire a 34.02 percent stake in Renault Korea, the South Korean unit of Renault Group said in a statement. In January, Geely Holding Group and Renault Group announced they will collaborate to launch an al

Nearly half of public institutions in South Korea lost money in 2021 amid the coronavirus pandemic with the state-run power monopoly logging the biggest loss on soaring oil prices, data showed Tuesday. A total of 170 public companies and institutions, or 47 percent of 363 that disclosed their 2021 results, were in the red last year, according to the data posted on the state portal All Public Information in One (ALIO). The state utility Korea Electric Power Corp. (KEPCO) registered the largest op

Daewoo Engineering & Construction has teamed up with its parent company Jungheung Group to accelerate its business expansion in the all-important US market. According to Daewoo E&C on Monday, Jungheung Group Vice Chairman Jung Won-ju and its business delegation signed a memorandum of understanding with the city of Carrollton, Texas last Thursday to carry out development projects in the US city. Carrollton, located near Dallas, has one of the most developed Korean American communities

A board shows diesel retail price surpassing gasoline price at a gas station in Daejeon on Monday amid growing concerns over rising diesel prices due to an inventory shortage and a lower tax cut than for gasoline.

South Korea’s homegrown app marketplace One Store aims to challenge Google and Apple, two US tech giants that enjoy a near-monopoly in the whopping 300 trillion won ($235 billion) app store market globally, with its forthcoming stock market debut here. One Store, the nation’s sole operator of an app store of the same name, is a merged entity of the nation’s four app stores that was previously operated separately by SK Telecom, KT, LG Uplus and Naver. Now it is an affiliate of