World’s largest memory chipmaker gets demand boost from data-center growth, 5G and metaverse

With hydrogen, SK aims to ‘buy time’ for green innovations to mature

Samsung Electronics reduced chip production in Xian where Chinese authorities placed a strict lockdown last week to contain the prolonged pandemic. According to Samsung Newsroom Thursday, the South Korean IT giant “decided to temporarily adjust operations” at its chip factory in Xian. The decision was made to protect the health and safety of its employees and partners, according to the press release. To ensure its customers are not affected, the company will take all necessary me

The loosening of a device to anchor a helium tank of the Nuri space rocket was found to have caused the early shutdown of the rocket's third-stage engine, leading to a mission failure, the science ministry said Wednesday. In October, South Korea launched the country's first homegrown space rocket, also called the KSLV-II. It flew to a target altitude of 700 kilometers, but failed to put the dummy satellite into orbit as its third-stage engine burned out 46 seconds earlier than expected. The g

LG Chem Ltd., South Korea's leading electric vehicle battery maker, will invest 475.4 billion won ($400 million) in cathode materials plant, the trade ministry said Wednesday. LG Chem will set up LG Battery Core Material to produce 60,000 tons a year of cathode materials and create 187 jobs for three years, the Ministry of Trade, Industry and Energy said in a statement. The company plans to begin construction of the plant in Gumi, 260 kilometers south of Seoul, next month with an aim to produc

Samsung SDI has unveiled its new battery brand “PRiMX,” which stands for a prime battery for maximum experience, to better convey its corporate identity that pursues super-gap technology. The rebranding portrays the philosophy of the firm’s new CEO Choi Yoon-ho, who took the post earlier this month. In his inaugural speech, Choi said, “Let’s together embark on a journey of true No. 1 ... based on super-gap technology and best quality.” “Samsung SDI h

Samsung Electronics has invested in Ready Player Me, a 3D avatar platform for the metaverse that allows users to explore virtual worlds with one consistent identity, according to a press release Wednesday. Samsung Next, Samsung Electronics’ subsidiary investing in startups with promising technologies, participated in a $13 million series A funding round led by a venture capital Taavet+Sten. According to Ready Player Me, the funding will be used to grow its global presence as the defaul

South Korea’s top steelmaker Posco said it was named the world’s most competitive steelmaker in a global industry report for the 12th consecutive year. In an annual assessment of 35 steelmakers worldwide, global steel information service provider World Steel Dynamics gave Posco the top mark of 8.54 points out of 10, according to the South Korean company. The WSD report, which ranks the steelmakers based on 23 categories, gave top scores for Posco in eight segments, including techno

Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Tuesday it has received a 583 billion won ($490 million) order to build two patrol frigates for the Philippines. KSOE is the shipbuilding subholding company of Hyundai Heavy Industries Group, the world's biggest shipbuilder by orders. Under the deal signed with the Southeast Asian country's defense ministry, KSOE's main affiliate Hyundai Heavy Industries Co. will build two 3,100-ton patrol frigates for the country by 2025, the compa

GC Pharma has recently launched a new high-content multivitamin called B-max Meta B. B-max Meta B contains 30 milligrams of bisbentiamine that passes through the blood brain barrier to help the human brain’s metabolism, the company said. The product also has high amounts of vitamin B12, vitamin D, magnesium and zinc to aid people in controlling their health, it added. The new supplementary multivitamin is the latest addition to CG Pharma’s B-max series, which began rolling out in

Home appliances company Coway said its new induction cooktop is enjoying high demand thanks to its auto cooking function, as more consumers are choosing to cook at home rather than eat out amid the pandemic. The auto cooking function of Coway’s Noble Induction Freedom, launched in November, saves the trouble of watching and controlling the heat for pots and pans to keep the contents from burning or boiling over. When cooking rice in a pressure cooker, for example, the cooktop automatic

Korea Agro-Fisheries & Food Trade Corporation (aT) has been at the center of promoting kimchi overseas, expanding the fermented dish’s presence in the United States and increasing its global exports. Located in Naju, South Jeolla Province, the state-owned company overlooks the distribution and transaction of all agricultural goods produced in Korea. One of its recent efforts is promoting kimchi in the United States and abroad. The firm has been particularly upping its activities i

Dunamu, the operator of Korea’s largest cryptocurrency exchange Upbit, is putting priority on protecting investors in the fast-growing crypto market by correcting deposit errors and strengthening its security systems. The blockchain company has recently returned 154 billion won ($130 million) to investors who had mistakenly deposited money into other people’s blockchain wallets. Since 2017, there have been 32,770 cases of deposit errors and Dunamu has managed to correct 96.6 perce

South Korea plans to double the number of electric and hydrogen vehicles on its roads next year as part of efforts to achieve its goal of net zero carbon emission by 2050. The government will seek to bring up the number of electric and hydrogen cars in use to about 500,000 in 2022, from the current level of about 248,000 units, the environment and four other ministries said in their joint announcement of policy plans for next year. Under the plans, the numbers of electric cars will rise by 200

Samsung Biologics, the major biopharmaceutical unit of Korea’s Samsung Group, has become a global manufacturing hub for COVID-19 vaccines and drugs, joining forces with global drugmakers to curb the widespread pandemic. In the last two years, the pharmaceutical giant has landed contracts with five companies -- Eli Lilly, AstraZeneca, Moderna, GreenLight Biosciences and GlaxoSmithKline -- to manufacture their COVID-19 vaccines and drugs. On Dec. 14, the company expanded its earlier deal