LG Display Co. is struggling to make profits this year with its focus on expanding its OLED business, its chief said Tuesday. The panel maker posted an operating loss of 29.1 billion won ($25 million) in 2020, sharply narrowing from a loss of 714.5 billion won a year earlier, while sales increased 3.2 percent on-year to 24.23 trillion won, apparently benefiting from increased demand for displays amid the pandemic-induced trends of remote working and distance learning. "This year, we will

Daewoo Shipbuilding & Marine Engineering Co. said Tuesday that it has resumed the operation of its shipyard one day after its closure due to new coronavirus infections. The shipbuilder suspended work at its shipyard in Okpo, Geoje Island, 398 kilometers south of Seoul, on Monday to conduct virus tests for its employees. Two confirmed cases were reported after virus tests for 2,400 employees. (Yonhap)

Global TV sales are expected to decline slightly this year, but shipments of premium TVs will grow, a report showed Tuesday, boding well for South Korean makers that lead the high-end sector. Global TV shipments are projected to reach 223.09 million units in 2021, according to market researcher Omdia, which is down 1 percent from last year's 225.35 million units. The latest figure is also down from Omdia's previous estimate of 224.22 million units late last year. Omdia predicted that robust

LG Electronics Inc. said Tuesday it has joined forces with two other partners to develop next-generation 6G network technology. LG signed a partnership with Keysight Technologies Inc., a US-based electronics test and measurement firm, and the Korea Advanced Institute of Science & Technology (KAIST), South Korea's leading research university. Under the agreement, the three sides will cooperate in developing technologies related to terahertz, a key frequency band for 6G communications. The

Samsung Display Co., a major display panel maker in South Korea, is likely to receive compensation from Apple Inc. over a shortfall in OLED panel orders, industry insiders said Tuesday. Samsung Display's worldwide small OLED shipments in January dropped 9 percent month-to-month to 45 million units, according to market researcher Omdia, which added that the decline is apparently prompted by sluggish sales of Apple's iPhone 12 mini.  Foreign media have reported that Apple has adjusted tar

　South Korea’s airfreight exports jumped to account for 36 percent of the country’s overall exports last year, industry data showed, on higher demand for chips and bio-health products. 　Of the country’s combined exports of $512.5 billion in 2020, air transport accounted for $183 billion, according to the data compiled by the Korea International Trade Association. 　While maritime transport still accounted for the majority of $325.8 billion, the portion of air cargo rose 5

Samsung Display Co., the world's largest smartphone panel supplier, said Tuesday it expects to ship more low-power OLED displays to global smartphone manufacturers amid rising demand from Chinese players. Samsung Display said Oppo, which has risen to become China's largest smartphone manufacturer, uses its OLED panel with adaptive frequency technology for the company's flagship smartphone lineup, the Find X3. The use of such a panel cuts the total power consumption of Oppo's premium smartpho

Samsung Electronics Co. said Tuesday it has signed a deal with Japan's largest mobile operator NTT Docomo Inc. to provide 5G network solutions as the South Korean tech giant tries to further expands its presence in the 5G infrastructure market. Samsung said it will support Docomo with its advanced 5G technology, including open radio access network (O-RAN) compliant solutions, to help the Japanese telecom firm deliver better 5G services to its customers. Docomo provides wireless network servi

South Korea’s retail-to-construction conglomerate Lotte is considering acquiring a significant stake in Enzychem Lifesciences to become its second-largest shareholder, a local newspaper reported Monday. The group’s de facto holding firm Lotte Holdings and Lotte Chemical would jointly buy the shares, the report said, which would be the conglomerate’s first attempt at a biotech business. The group is also eyeing a joint venture with Enzychem to further its interest in the f

Oriental Brewery, South Korea's largest brewer, plans to raise prices of some beers next month because of a rise in beer tax, a company official said Monday. The prices of its major beer products, including Cass Fresh and Cass Light, will go up by an average of 1.36 percent from April 1, according to the OB official. Under the new policy, the factory price of a 330-milliliter bottle of Cass Fresh will rise from 845.97 won ($0.75) to 857.90 won. OB, which accounts for about 60 percent of the

Executive unveils tech road map for memory industry at global forum

A group of 5G mobile network subscribers in South Korea are pushing for a class action lawsuit against the country’s three telecom companies over the quality of the services. Calling themselves “Victims of 5G,” the group aims to attract 1 million individuals to join the action to seek compensation of an amount not immediately known. The suit is to be filed through joint litigation platform called “Angry People,” it said. “Nationwide establishment of 5G n

South Korea's leading shipper, HMM Co., said Monday it has deployed two additional ships to cope with soaring freight costs amid the new coronavirus pandemic. HMM will operate two additional 16,000 twenty-foot-equivalent unit (TEU) ships, according to the Ministry of Oceans and Fisheries. TEU is a measure used for the capacity of container transportation. The launch came around a month earlier than the original schedule of April. South Korea earlier announced a plan to add eight shipping vess

A South Korean midsized observation satellite was successfully launched into space Monday, the Korean government announced. The Ministry of Science and ICT in Seoul said the 540-kilogram satellite, loaded on Russia’s Soyuz-2.1a rocket, lifted off from Russia’s Baikonur Cosmodrome in Kazakhstan, around 50 days after the satellite arrived at the launch site. 　 The ICT Ministry added that the ground station made its first contact with the satellite 102 minutes after the launch and a

Samsung Electronics Co. on Monday launched its 2021 lineup of high-resolution monitors as the South Korean tech giant eyes to increase sales amid the rising trend of remote working and distance learning.  Samsung said 12 different monitors across three series -- the S8, S7 and S6 -- are released globally, with all models offering more than 1 billion colors, a 178-degree wide viewing angle and enhanced High Dynamic Range 10 technology. In South Korea, 10 models are available with price t