Firms with largest number of TV shipments

LG Electronics Inc., a major home appliance maker, said Monday it will launch a hair loss treatment device in South Korea later this month. LG Pra.L MediHair was recently approved by Seoul's drug safety ministry as a laser apparatus for medical use and was also cleared by the US Food and Drug Administration (FDA) as a Class II device for home use. The wearable device combines 146 laser and 104 LED lights to stimulate hair follicle stem cells in the bulge region and support hair growth and sl

Hyundai Motor Co. has decided to voluntarily recall its Kona all-electric models sold overseas, industry insiders said Sunday, after the automaker vowed to take the same step on the home turf over potential battery fire risks. Hyundai will globally recall some 77,000 Kona Electric models manufactured between September 2017 and March, 2020, industry insiders said. The recall comes after 13 fires in the model have been reported since 2018. The South Korean automaker already decided to recal

SK Innovation said Sunday it has successfully extracted solvent and lube base oil from plastic waste to boost environmental, social and corporate governance under SK Group’s Green Balance initiative. According to South Korea’s refining-to-battery firm, researchers of SK Innovation Institute of Technology Innovation heated pieces of plastic waste and obtained high-purity pyrolysis oil by removing impurities in it significantly. With the pyrolysis oil, the researches manufactured s

LG Electronics released a teaser Sunday for the “LG Signature OLED R,” the world’s first rollable TV, which will go on sale at the end of this month. The home appliance giant uploaded a 17-second YouTube video that shows the LG Signature OLED R’s rollabe display slowly coming up from the inside of the TV’s base. As of 11:00 a.m. Sunday, the video has garnered more than 140,000 views. The price of the Signature OLED R is reportedly set at over 100 million won

The first two units of Hanwha Defense’s K9 Thunder self-propelled howitzers have arrived in Estonia, according to a recent release from the country’s armed forces. The first batch arrived in Estonia in late August and the remaining 16 units purchased by the country will be delivered over the course of three years. After modification and refinement, the K9 howitzers will be deployed to the artillery battalion of the 1st Infantry Brigade to replace 155-millimeter artillery. The

Around 18.5 percent of South Korea’s total export volume last year was from foreign-invested firms, according to a Korea Trade-Investment Promotion Agency report Sunday. The export volume generated by firms with foreign investment reached $100 billion last year, while the nation’s total exports marked $542 billion, according to KOTRA’s report, which surveyed 14,000 local trading firms. The number of local firms with foreign capital reached 5,800 as of last year, the report

Korea regains No. 1 spot from China, records 1.42 million CGT in Q3

Swedish carmaker takes aim at German rivals, Benz, BMW, Audi, with longer, lower-priced sedan

According to a survey of self-employed people who went out of business this spring and participated in a state-sponsored recovery program, it took them an average of 6.4 months to go bankrupt from the initiation of their entrepreneurship. The survey by Small Enterprise and Market Service looked at 400 self-employed people whose businesses had failed between April 20 and April 29, and was released by Rep. Ku Ja-keun on Thursday. Upon bankcruptcy, these self-employed people on average had an ou

Hyundai Engineering & Construction said Friday it has signed a $330 million deal with the Philippine transportation ministry to participate in a local railway project. It is the first time for Hyundai E&C to win a construction project in the Philippines since it won a contract to build the Asian Development Bank headquarters building in 1986. Hyundai E&C will build two station buildings and a 17 kilometer-long railway on elevated bridges as part of the $573 million Malolos to Cla

Posco Energy, a wholly owned energy unit of South Korean steelmaker Posco, said Friday it has filed a 922 billion-won ($800 million) claim against US-based FuelCell Energy for damages involving their license deal. On Wednesday, Posco Energy filed the suit with the International Court of Arbitration of the International Chamber of Commerce in London and Singapore, demanding FuelCell Energy pay for the loss of $800 million caused by the US firm's unilateral cancellation of their license contrac

Samsung Electronics on Thursday announced an earnings surprise for the third quarter of this year, posting the largest operating profit in two years. The South Korean tech giant said in its preliminary earnings report that it would register 66 trillion won ($57.01 billion) in revenue and 12.3 trillion won in operating profit for the July to September period. It was a surprise, since the financial market’s profit forecasts hovered around 10 trillion won. If confirmed, the Q3 revenue

Hyundai Oilbank announced Thursday it plans to grow the number of its electric vehicle charging stations to 200 by 2023. The petroleum and refinery company currently operates 20 charging stations for electric cars, but a partnership agreement signed with Charzin, a company specializing in electric vehicle charging infrastructure, on Wednesday will see the number grow tenfold in the next three years. Under the new move, electric vehicle chargers of 100 kilowatts or more will be installed at gas

Hyundai Motor said Thursday that it is pushing for the global expansion of its Xcient Fuel Cell, the world’s first mass-produced fuel cell electric heavy-duty truck, as it delivered the first batch to customers in Switzerland. At a delivery ceremony in Lucerne, Switzerland, Wednesday, Hyundai said it had handed over seven of the Xcient Fuel Cell trucks to seven customers -- Coop, Migros, Travego, Galiker, Camion, Murpf and Leclerc -- which are major Swiss retail and logistics firms. T