South Korean builder GS E&C has completed its construction of New Selander Bridge in Tanzania, the largest development project funded by the South Korean government in Africa. New Selander Bridge is also the first bridge project GS E&C has worked on in Tanzania. It will officially open for use on Dec. 27. Located in Dar es Salaam, the largest city and financial hub of Tanzania, the New Selander Bridge is 670 meters long. It is a new type of bridge that has combined the characteristics

Hyundai Motor Group raised its global electric vehicle (EV) sales target for 2026 to 1.7 million units from 1 million units, its chief executive has said, underscoring the automaker's push to meet the growing EV demand. Hyundai Motor CEO Chang Jae-hoon made the remark in an interview with the US-based Automotive News published on Tuesday, saying that the company will double the EV lineup to at least 13 models by 2026.  "That's very ambitious. Next year, we expect to sell about 220,

Virtual humans are everywhere: They promote products on social media, appear on billboard ads and now host infomercial shows. Lotte Home Shopping said Tuesday its virtual model Lucy will make her television debut as a show host on Wednesday for a special Christmas broadcast. Lucy is scheduled to appear in a teaser clip of the program and will introduce products offered on sale. This will be the first time the public gets to hear her voice, the infomercial channel said. Boasting 70,000 fol

As chip war intensifies, overcapacity expected by 2023

Starting next year, subway passengers in South Korea will be able to enjoy free Wi-Fi services that are 10 times faster, the Ministry of Science and ICT said Tuesday. According to the ministry, subway commuters will be able to use Wi-Fi 6E that has a more reliable internet connection, and is 10 times faster than the current Wi-Fi speed. The upgraded Wi-Fi speed will be on par with that of private telecoms networks. Previously, the ministry had limited the transmitted signal power level in su

Polestar, the former Volvo company that spun off to become its own brand, announced its launch in South Korea on Tuesday. Aiming to become the game changer of the local EV market that is seeing a growing demand for the green vehicles, the EV company will introduce its first model Polestar 2 on Jan. 18. Polestar 2 is a five-door fastback equipped with a 78 kWh battery and two electric motors that can produce 408 horsepower. “We will be introducing Polestar 2 to our Korean customers at

NIH, International Vaccine Institute cooperate in testing vaccine efficacy in 3rd trial

Samsung Electronics Co. began a two-day companywide global strategy meeting, industry sources said Tuesday, the first since it appointed new CEOs in its first major reshuffle in three years and streamlined its structure after 10 years earlier this month. The biannual meeting used to take place in-person with attendance of hundreds of senior executives from at-home and abroad to discuss the company's global strategy and other core business issues. But it has moved online since last year amid the

LG Electronics announced Tuesday it plans to release its wireless StanbyME televisions in the Asian market starting this month and heightened its production capacity by threefold to meet demand overseas. Hong Kong will be the first Asian market for LG to set its sights on, according to the electronics arm of South Korea’s fourth-largest conglomerate. Sales of the movable 27-inch TVs, powered by built-in batteries that last for three hours on a single charge, will begin within December

Samsung Electronics Co. took over the top spot in the global semiconductor market by revenue in the third quarter, a report showed Tuesday, on the back of strong memory chip sales. Industry tracker Omdia said Intel, which had been the top chipmaker for 11 straight quarters, slipped to number two behind Samsung "as the memory segment, where Samsung is the number one DRAM and NAND supplier, was the largest growth area for semiconductor" in the three months ending in September. DRAM, o

　Samsung Electronics retained the top spot in the global smartphone market in the third quarter of the year, a report showed.  　The world‘s largest smartphone maker held a market share of 20 percent in the July-September period, followed by Apple with 14 percent and Xiaomi with 13 percent, according to a report from market researcher Counterpoint Research.  　During the three months, the South Korean tech giant shipped 69.3 million smartphones, up 20 percent from the previous q

Renault Samsung’s Master van has become a popular choice as a school bus and as a camping car in South Korea due to its safety and customizable features. The Master van, first introduced in 2018 in South Korea, offered enhanced safety and a business solution for its customers, the company said on Monday. “Parents are relieved to see that we use Renault Master as our academy bus to pick up students. The van has a 3 point seat belt so our students feel safe and comfortable when ridin

Experts suggest French luxury retailer may be first domino to fall

Krafton Inc., the South Korean gaming giant behind the global smash hit "PlayerUnknown's Battlegrounds" (PUBG), said Monday that it has invested $5 million in the Indian dating app FRND. The investment into FRND is part of a Series A round of funding worth $6.5 million that includes other investors, such as India Quotient and Elevation Capital, the company said. A Series A round of financing is the first round of financing that a startup receives from a venture capital firm. FRND is

LG Group chairman and Chief Executive Officer Koo Kwang-mo urged its staff and executives across the world to focus on creating a “valuable user experience” for customers in his New Year’s speech for 2022. Koo, who serves in the top post of South Korea’s fourth-largest family-owned conglomerate, stressed in the mission statement that its staff should think outside the box and explore what is beyond the quality of goods and services, provided by the group dedicated to el