A homegrown autonomous driving vehicle will begin its first trial run next week, the Electronics and Telecommunications Research Institute said Wednesday. AutoVe is a level 4 self-driving vehicle that does not have a driver’s seat. With no human assistance, the six-seater car is driven solely by the research institute’s artificial intelligence system, coupled with a self-developed voice recognition system. Passengers can just talk to the car to set up the destination, it said.

FKI submits opinion to OECD, views tax as excessive regulation

Hyundai Motor Group Chairman Chung Euisun has won the top prize at the 2021 Autocar Awards for his contribution to the global car industry, the company said Wednesday. The Issigonis Trophy, named after car designer Sir Alec Issigonis, is the award given to a standout individual within the industry who is deemed to have delivered an exceptional level of success. “In the last decade, Hyundai Motor Group has grown into one of the world’s leading car firms, and Chairman Chung has be

Samsung SDI prepares US expansion “step by step” as LG Energy Solution and Hyundai Motor start joint venture in Indonesia

Kim Beom-su, the founder of mobile messenger firm Kakao, has established a charity foundation aimed at making positive social impact, Kakao said Wednesday. The Brian Impact foundation, named after Kim’s English name, aims to support businesses that seek to provide solutions to social problems, expand employment opportunities through research and development projects or engage in business related to future-leading technologies, such as artificial intelligence. “The purpose of Brian

Quarantine-free overseas tours becoming reality for the vaccinated

Samsung Heavy Industries Co. said Wednesday that it has teamed up with a local nuclear research institute to develop nuclear-powered ships. Under the cooperation with the Korea Atomic Energy Research Institute (KAERI), Samsung Heavy plans to develop molten salt reactors, a kind of small module reactor using molten fluoride salts as the primary coolant, at low pressure, which have been emerging as a carbon-zero nuclear energy source. Samsung Heavy will tap into the market of floating nuclear po

LS Cable & System aims to expand its footprint in the global electric vehicle components market, with high-voltage and lightweight aluminum wires, the company said Wednesday. According to the cable manufacturing unit of South Korea’s LS Group, the firm is exclusively supplying enamel wires for Hyundai Motor’s first electric vehicle, the Ioniq 5. Coated with advanced insulation material, the wires can cope with up to 800 volts, allowing rapid charging of the vehicle. The Anyang,

Samsung Electronics Co. said Wednesday it has developed an 8-nanometer (nm) process technology for radio frequency (RF) chips as the South Korean tech giant eyes to beef up its foundry service for 5G mobile semiconductors. Samsung said its 8nm foundry will deliver 5G single-chip RF solutions supporting sub-6-gigahertz to millimeter wave spectrum. A RF integrated circuit is a semiconductor used for radio frequency signal receiving or transmission and analog-digital conversion in connection with

SK Gas aims to build a hydrogen value chain complex in Ulsan by 2025, encompassing raw material sourcing, production, storage and distribution. At the envisioned complex which will sit on a 140,000-square-meter plot of land, the company plans to build facilities for hydrogen extraction as well as liquid hydrogen storage and distribution. SK Gas plans to utilize the company’s existing supply channels of liquefied natural gas and liquefied petroleum gas to extract hydrogen from. The com

South Korea’s Daewoong Pharmaceutical signed an agreement to license out its gastroesophageal reflux treatment Fexuprazan to US biotech firm Neurogastrx, the company announced Tuesday. Under the contract worth $430 million in total, Daewoong will receive milestone payments of undisclosed amounts when stages are completed in the drug’s development process in the US, in addition to royalties based on its future sales in the US and Canada. Daewoong has also received a 5 percent equi

KT Corp., a South Korean telecom giant, said Wednesday it has partnered with global cloud service operator Amazon Web Services Inc. (AWS) in a move to bolster its push to develop artificial intelligence (AI) and cloud technologies. The two companies agreed to pursue joint research in AI and cloud technologies as well as collaboration in media businesses, KT said in a statement. The telecom operator said it plans to launch a contact center service that combines its AI-based contact center servi

Hyundai Motor Group Chairman Chung Euisun won the 2021 Autocar Awards' top accolade, the Issigonis Trophy, for his contribution to the global automotive industry, the company said Wednesday. Named after legendary car designer Sir Alec Issigonis, the trophy is awarded by Autocar to an individual who has played a significant role in helping to shape the future of the auto industry. "Chung has overseen the Hyundai Motor Group, whose brands include Hyundai, Kia and Genesis, in transforming in

South Korea's Samsung Heavy Industries Co. said Tuesday that it has been countersued by Japanese oil and developer INPEX after it filed a complaint against INPEX for not paying the rest of contract amount in April.  The $480 million countersuit will not hurt the earnings of Samsung as it set up allowances for the countersuit till the first quarter of 2021, the shipbuilder said in a regulatory filing.  Samsung completed the installation of central processing facility, one of the offsh

   LG Uplus Corp., a South Korean mobile carrier, said Tuesday it has decided to repurchase 100 billion won ($88.3 million) worth of its own shares to strengthen shareholder value. The telecom operator said in a regulatory filing that its first-ever share buyback will be completed by June 8 next year. LG Uplus will also introduce an interim dividend this year in addition to its existing year-end dividend, the company said in a separate statement. The company expects the moves to s