New phone may not be a threat, but its inner screen could show Samsung what customers want

Chinese authorities have finally approved SK hynix’s acquisition of Intel’s NAND and SSD business, the company said Wednesday. Though SK hynix and Intel signed the $9 billion deal in October last year, it has been waiting for approval from China for more than a year due to tensions with the US. In the chip industry, to prevent one company from dominating the market, mergers and acquisitions require antitrust approval from the US, the European Union, South Korea, Taiwan, Brazil, t

BAT Rothmans, the Korean business arm of British American Tobacco, is ramping up its recycling campaign in Korea to encourage people not to throw away used Glo devices, the company said Wednesday. The Seoul office of the London-based tobacco company said it has installed return bins for Glo tobacco heating devices at 50 convenience stores in cities nationwide with heavy foot traffic, with more to be added in the coming year. Customers can go to either a 7-Eleven, CU or GS25 convenience store

Key men close to chaebol chiefs stepping in to lead red-hot battery units suggest shift in business priority

South Korea’s antitrust watchdog announced Wednesday that it would fine SK Inc. and SK Group Chairman Chey Tae-won 1.6 billion won ($1.3 million) over allegations that his personal purchase in LG Siltron shares back in 2017 had violated the law. The decision was made a week after Chey had attended the Fair Trade Commission’s full-member session in person. Chey’s attendance was rare as the watchdog does not require the person involved to be present. Chey, in the session, claime

SEJONG -- South Korea and Vietnam agreed to bolster coordination on trade and development projects during a ministerial meeting in Seoul, Wednesday, the Ministry of Trade, Industry and Energy said. At the meeting, Korea’s Minister of Trade, Industry and Energy Moon Sung-wook signed a memorandum of understanding with Vietnam’s Minister of Industry and Trade Nguyen Hong Dien on urea supply. Under the deal, Korea will import up to 120,000 metric tons of urea from Vietnam per annum ov

Samsung Electronics, SK hynix elusive on how they get rid of toxic gases left after manufacturing chips

Samsung Electronics Vice Chairman and CEO Han Jong-hee said Thursday that the global tech giant will unveil innovative technologies centered on customization, seamlessness and sustainability at the 2022 Consumer Electronics Show. In his editorial posted on Samsung Newsroom, the head of Samsung Electronics’ device experience division underscored that the “one-size-fits-all” strategy can no longer apply in the consumer electronics market as users are seeking more personalized,

GS Caltex said Wednesday it will utilize oil extracted from plastic waste as a feedstock to manufacture petrochemical products to bolster its environmental, social and governance efforts. According to the South Korean total energy company, it will begin pilot production of petrochemical products with 500,000 tons of plastic waste oil at the firm’s plant located in Yeosu, South Jeolla Province. “If the pilot project proves successful, GS Caltex will review new investments for buil

SsangYong Motor Co., the South Korean unit of Indian carmaker Mahindra & Mahindra Ltd., said Wednesday it has signed an initial pact with Chinese electric vehicle maker BYD Auto Co. for EV battery development.SsangYong Motor on Tuesday signed a memorandum of understanding with BYD Auto to develop car batteries and produce battery packs for its models, the company said in a statement. "The partnership with BYD will pave the way for the company's plan to transform itself into an EV maker

Hyundai Motor Co., Mercedes-Benz Korea and four other companies will voluntarily recall more than 34,000 vehicles to fix faulty components, the transport ministry said Wednesday. This is the latest in a series of recalls by carmakers operating in South Korea due to problems with vehicle components. The six companies, including Hyundai's smaller affiliate Kia Corp., Toyota Motors Corp. and Stellantis Korea, are recalling a combined 34,639 units of 13 different models, the Ministry of Land, In

In a bid to penetrate the US electric vehicle market, Posco International said Tuesday it is opening a Mexico office to oversee the production plant of a core component. The component, the rotor motor core, is used to generate electricity in electric motors. The decision has been approved by the board, the trading arm of Korea’s leading steelmaker said. Some 52 billion won ($43.6 million) will be invested in building the facility, of which 80 percent will be funded by Posco Internat

Hanwha Solutions said Tuesday it will spend 338 billion won ($283.3 million) to add 270,000 tons of production capacity of caustic soda, a key raw material for electric vehicle batteries. According to the chemical and energy unit of South Korean conglomerate Hanwha Group, the investment will allow the company to ramp up the annual production capacity of caustic soda at its petrochemical plant in Yeosu, South Jeolla Province, to 1.11 million tons from the current 840,000 tons. “Hanwha

Incheon International Airport Corp. has inked a 600 billion won ($503 million) deal to operate and develop Hang Nadim International Airport in Indonesia for 25 years starting next year, officials said Tuesday. It is the first overseas airport operation and development project Incheon International Airport Corp. has undertaken, they added. The deal was signed by Incheon International Airport Corp. and Batam Indonesia Free Zone Authority to operate and develop the Indonesian airport in Batam, Ri

Kyobo Life Insurance, the No. 3 life insurer in South Korea, has applied for a preliminary approval to list its shares on the country's main bourse, the stock market operator said Tuesday. Kyobo Life Insurance submitted the application with the Korea Exchange (KRX) for an initial public offering (IPO) and picked NH Investment and Securities Co. as the lead manager for the envisioned stock listing, according to the operator. Other details were not disclosed. In November, Kyobo Life Insurance s