Hanwha Techwin Co., a major surveillance tech firm in South Korea, said Thursday it will start into the clerkless store solution business with its auto checkout (ACO) machine as the company expands its business portfolio amid the pandemic-induced non-contact trend. Hanwha Techwin said it decided to enter the unmanned store solutions market as many retailers opt to open cashier-free shops for 24-hour operation while there is a need to improve consumer convenience in the checkout process at stor

Samsung Electronics Co. dominated the global market for smartphone memory chips in the first half of the year, a report showed Thursday. In terms of revenue, Samsung maintained its top position in the smartphone memory market with a 49 percent share in the first six months of the year, according to a report from industry tracker Strategy Analytics. Samsung was followed by its smaller South Korean rival SK hynix Inc. and US chipmaker Micron Technology Inc. By sector, Samsung had a revenue sha

Air Busan Co., the budget carrier unit of Asiana Airlines Inc., on Thursday resumed flights to the Chinese city of Qingdao to meet travel demand from businessmen. Air Busan will offer one flight a week on the Busan-Qingdao route from Thursday after suspending the route for more than seven months due to the coronavirus impact on the airline industry, the company said in a statement. In July, the carrier resumed the Incheon-Shenzhen route, but other Chinese routes to Ningbo, Chengdu, Qingdao, Ya

Hearings on LG Chem Ltd.'s electric vehicle (EV) battery patent infringement lawsuit against SK Innovation Co. with the US International Trade Commission (ITC) will open online in December, industry insiders said Thursday. Evidentiary hearings for LG Chem's case will take place virtually on Dec. 10 and 11, according to the sources. In September 2019, LG Chem filed the suit with the ITC, claiming that SK Innovation and SK Battery America infringed its EV battery patents. The ITC usually holds

Bentley Motors Korea unveiled Wednesday the revamped luxury sports sedan Flying Spur with the popular V8 powertrain, for the first time in South Korea. 　 In a media preview event held at a hotel in Gangnam, southern Seoul on Oct. 8, the head of Bentley Motors Korea Warren Clarke presented the Flying Spur V8 and also revealed the company’s brand strategy for the upcoming years. Prior to the global launch this week, Bentley Motors Korea ran a private preview event to allow a peek for pros

The game is back on between import vehicle archrivals, intensified by Mercedes-Benz Korea’s release of the newest E-Class this week. To drive away the enthusiastic runner up BMW and to maintain its position as Korea’s favorite imported car brand, Mercedes-Benz has returned with a revamped version of the best-selling model Tuesday. The new E-Class is a revamped version of the 10th-generation model, which the automaker hailed for having achieved a “monumental milestone”

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LG Chem said Wednesday it will offer cash dividends of at least 10,000 won ($8.70) per common share over the next three years as part of an effort to promote shareholder value. The South Korean battery giant last month decided to split off its promising battery business division as a wholly-owned subsidiary LG Energy Solution. The decision triggered fierce resistance from retail investors, many of whom invested in LG Chem for its battery business. “To apply the same dividend criteria af

Though founded in 1967, Hyundai Motor’s origins date back to 1940s, when entrepreneur named Chung Ju-yung established Hyundai Auto Service in Seoul after Korea was liberated from Japanese colonial rule in 1946. Along with the Hyundai Auto Service, Chung established Hyundai Engineering and Construction in 1947 to help South Korea rebuild and industrialize after the liberation. However, the Korean War broke out in 1950, forcing Chung to abandon his businesses in Seoul and evacuate to B

LG Innotek, the high-tech parts making unit of LG Group, said Wednesday the company has developed a “highly efficient” ferrite material to be used for ultra slim TVs and vehicles. Ferrite, made of iron oxide power, is used to change voltage in power modules for TVs and on board chargers in vehicles. As home appliances including TVs and electric vehicles go slimmer and lighter, the ferrite has become a viable material. LG’s ferrite can make power modules for TVs as thin as

Samsung Electronic Vice Chairman Lee Jae-yong met top executives of Dutch semiconductor equipment provider ASML, the company said Wednesday. Lee held a meeting with Peter Wennink, ASML’s chief executive officer, and Martin van den Brink, chief technology officer, in which they discussed supply and operation plans for extreme ultraviolet equipment that is needed for production of chips on 7-nanometer processes and below. They also talked about increasing cooperation on next-generation

Kim Ran-do, renowned scholar on fast-emerging trends in South Korea, has defined the year 2021 as “Cowboy Hero” as he announced 10 key words for next year that would continue to be affected by the COVID-19 pandemic. Through an online lecture live-streamed on YouTube to mark publication of his latest publication Trend Korea 2021 late Tuesday, the professor from Seoul National University created the term “Cowboy Hero” from the initial letters of 10 key phrases. “W

Starbucks Coffee Korea is accepting applications for the second round of its program to support people in their 40s or older who are looking for opportunities to reopen their stores. Starbucks Coffee Korea‘s support program is a joint project with the Ministry of Startups and SMEs and the Small Enterprise And Market Service, dedicated to supporting troubled small business owners who have recently closed their businesses. Applicants accepted to the program will go through 16 hours of b

LG Electronics Inc., a major South Korean home appliance maker, said Wednesday it will expand its washer-dryer combo lineup with large capacity products to better meet consumer demand. LG WashTower is a washer-dryer combo that combines a front-loading washing machine and a dryer into a single laundry appliance. The product is currently sold with a 21-kilogram washer at the bottom and a 16-kilogram dryer at the top, but the new model will have a 24-kilogram washer and a 17-kilogram dryer, the c