GS Caltex said Thursday its biobutanol sales have jumped more than tenfold on-year in the first 11 months of this year, due to growing demand for eco-friendly raw materials. The 2,3-butanediol chemical compound is a 100 percent natural substance easily found in nature including in soil, animals and fermented food. Thanks to its superb moisturizing and preservation effects, the substance is widely used as a raw material for cosmetics and personal care products. However, as 2,3-butanediol is

Automaker aims to sell 560,000 EVs by 2025, 700,000 hydrogen fuel cells by 2030

Samsung, Hyundai ownership families may have to offload massive shares in key subsidiaries

The CEO of LG Electronics Inc. vowed Thursday to improve the company's mobile communications business next year amid the pandemic. Kwon Bong-seok said South Korea's No. 2 tech firm is "working hard" to create a turnaround in its struggling mobile business. "We are improving by reinforcing our cost competitiveness, and we plan to make quality improvements next year with growth in the premium sector," Kwon told reporters after the 15th Electronics and IT Day event in Seoul.

Tech giant unveils W170m screen for home use

Son Kil-dong, senior vice president at LG Innotek, won a presidential award in recognition of his contribution for development of the electronic material industry. Son, who joined LG Electronics as an engineer in 1995, moved to LG Innotek, the parts making affiliate in 2008. He has led a variety of new technologies and manufacturing processes in the field of semiconductor substrate. His works include development of radio frequency-system in package substrate for telecommunications, and a

‘One-stop’ drive-thru service to hit CU stores in Seoul this month

South Korea said Thursday it will spend more than 400 billion won ($371 million) next year in the extended reality (XR) industry, such as augmented reality (AR) glasses and virtual reality (VR) content, setting its sights on leading the budding tech sector. The Ministry of Science and ICT said the government has set aside a total of 403 billion won for next year to boost XR development, which includes spending 44.6 billion won to integrate XR technology in key sectors, such as manufacturing, he

Samsung Electronics Co. moved up to the third spot in the global smartwatch market in the third quarter of the year thanks to brisk sales of the Galaxy Watch3, a report showed Thursday. Samsung accounted for 10 percent of the global smartwatch shipments in the July-September period, up 2 percentage points from a year earlier, and surpassed China's BBK Electronics Corp., which settled for a 7 percent share, to take the third position in the market, according to industry tracker Counterpoint Rese

Posco Chemical said Wednesday it will supply cathodes to Ultium Cells, a joint venture established by LG Energy Solution and General Motors last year. According to the refractory and secondary battery materials arm of South Korean steel giant Posco, it will provide cathodes to Ultium Cells’ electric vehicle battery manufacturing facility, which is set to begin mass production of NCMA (nickel, cobalt, manganese, aluminum) batteries that contain 90 percent nickel starting next year. Ca

South Korea has rolled up its sleeves to support the domestic biodegradable plastic industry to address carbon-intensive plastic products and achieve carbon neutrality by 2050. According to the recent “White Biotechnology Industry Revitalization Strategy” released by the Ministry of Trade, Industry and Energy, the government will create demand for biodegradable plastic products, which are two to three times more expensive than conventional plastic items. The fall in prices of oil a

S-Oil said Wednesday it had delivered 90 million won ($82,300) to eight firefighters for heroic actions. At an annual Hero Firefighters Award Ceremony held at its headquarters in Mapo-gu, western Seoul, the South Korean refinery and the Korea National Council for Social Welfare delivered award plaques of appreciation and cash awards to the eight awardees as part of its firefighter support campaign. Lee Sung-ha from Incheon Central Fire Station received the top award and 20 million won. Lee dis

Private security firms race to replace decades-old public ID authentication system

Samsung Electronics may be considering ramping up its Austin, Texas-based semiconductor factory as part of efforts to strengthen its foothold in the foundry market, according to industry sources on Wednesday. Expectations are growing as Samsung seeks a zoning change for plots of land near its Austin campus it purchased in late October. Samsung Austin Semiconductor has filed a request with the Austin City Council for a rezoning of some 205 acres of the 258-acre land, which is about 104,089 sq

Posco Chemical Co., an affiliate of South Korea's steel giant Posco Group, said Wednesday it will provide a key element for Ultium Cells' rechargeable batteries for electric vehicles (EVs). Posco Chemical said it will supply cathodes, one part of lithium-ion batteries used in EVs, to Ultium Cells, a battery joint venture of American automaker General Motors Co. and South Korean chemical firm LG Energy Solution Ltd. The two companies will separately negotiate a supply deal of anode, a key mater