From measuring people’s activities to eliminating smoke during fires, Johnson Controls Korea president breaks down how smart buildings can be

Samsung Display could commercialize its next-generation Quantum Dot displays for televisions as early as the third quarter of next year, according to a market researcher Monday. A report released by Omdia noted Samsung Display recently supplied prototypes of its QD displays for Samsung Electronics and Sony for use in TV manufacturing. The panel maker officially announced its switch from large-size liquid-crystal display panels to QD displays in October as it started converting the curren

Apple has pledged 100 billion won ($84 million) to correct its business practices in South Korea by sharing advertising costs with mobile carriers and by supporting small and medium-sized enterprises, the antitrust watchdog said Monday. The Fair Trade Commission said it had prepared a tentative agreement through consultations with Apple Korea after the US tech giant applied for a consent order June 4. The consent order initiated a process to close an FTC case against Apple by voluntarily agr

South Korea‘s trade volume declined in August compared to the same month last year amid the slowing global economy in the COVID-19 pandemic. According to data from the Korea Customs Service, the country’s exports and imports both slumped year-on-year. Exports decreased 7 percent to $23.1 billion in the period between Aug. 1 and 20 compared to the same period of last year, while imports fell 12.8 percent during the same period. Taking into account the number of working days, da

South Korea’s tech industry is again on high alert as the resurgence of the novel coronavirus across the country has hit companies’ major research and manufacturing facilities, according to industry sources on Sunday. Samsung Electronics, the world’s biggest semiconductor supplier, reported on Saturday that two employees who work for the 16 and 17 chip fabrication lines in Hwaseong, Gyeonggi Province, were confirmed to be COVID-19 patients. The two lines are Samsung&rsquo

Shinsegae Food, the food arm of retail giant Shinsegae Group, said Sunday it is injecting 9.8 billion won ($8.23 million) into its US-based food manufacturing facility as it seeks to bolster the ready-made food business in the market. According to the company, it is plowing funds to Chang Tuh Corporation, the operator of a manufacturing plant for ready-made products in the US. Shinsegae Food acquired Chang Tuh Corp. for 12.1 billion won last year from Emart, a hyper mart giant under Shinseg

Coca-Cola Korea on Sunday said it has launched summer editions of its widely loved drinks Coke and Sprite, decorated with signature colors and graphics depicting summer activities. The company said it tried to add an uplifted spirit to its drinks against the backdrop of the new normal after the COVID-19 outbreak. Coca-Cola also expressed hopes that its drinks accompany people’s summer activities that people now tend to enjoy while staying indoors. Coca-Cola Korea’s limited edition

South Korea’s largest steelmaker Posco said it aimed to provide premium value to customers with its new construction steel brand Innovilt, which launched in November last year. The name Innovilt is a combination of innovation, value and built, which means to increase the value of construction steel materials through technological innovation, eco-friendliness and originality, Posco said. Construction steel materials are used in buildings and other infrastructure projects, such as roads

Expectations among Korean construction companies are high as the Korea Rural Community Corporation completed the design of a seawall project to prevent flood damage in Jakarta, Indonesia, in July and is set to submit a final report to the local government by the end of this year. In Indonesia, due to ground subsidence caused by rising sea levels and underground water development, the Jakarta coast is sinking 18 centimeters on average every year. Even when dikes are built, seawater repeatedly cr

SK Holdings, Mirae Asset, HB, Kiwoom-Shinhan rush to invest in Hummingbird Bioscience

Nano-x, a medical imaging company in which SK Telecom is the second-biggest shareholder, has made an initial public offering on the US’ Nasdaq, SKT said Sunday. SKT preemptively invested a total of $23 million in Nano-x, first in June 2019 and second in June 2020, securing over 2.6 million shares in the company. As the second-biggest stakeholder to Nano-x after the company’s founders, SKT said it is actively participating in the management and global business expansion of Nano-x.

Eastar Jet will cut down on its workforce as part of efforts to find a new owner after Jeju Air Co. scrapped its plan to acquire the smaller budget carrier amid the coronavirus' impact on the airline business, industry sources said Friday.    Eastar plans to lay off nearly 70 percent of its 1,200 employees in restructuring before it begins the process to find a new investor, Eastar Senior Vice President Kim You-sang said over the phone.    "Our lead managers and two p

Samsung Electronics said Friday that it has officially launched its flagship Galaxy Note 20 phablets globally. The South Korean tech giant’s newly launched lineup, available in 70 countries, comprises the standard Note 20 and the high-end Note 20 Ultra. Samsung Electronics added that the products will be available in a total of 130 nations worldwide by mid-September. The company plans to hold launch events and promotional activities depending on the COVID-19 situation in each nation.

The Busan government said Friday it would proceed with AI Korea 2020, despite the resurgence in new coronavirus cases in Seoul and Gyeonggi Province. The Busan government said it would strengthen COVID-19 prevention measures for the event, scheduled between Sept. 17-19 at Bexco in Busan. The expo, which will be held at 13,000 square-meter exhibition areas, has been designed to attract leading scientists, developers and entrepreneurs in related sectors. The Busan government said it would show

NCSoft said Friday it has launched an entertainment subsidiary Klap to expand its business portfolio. According to the South Korean game company, it established Klap on July 13 and invested 800 million won ($675,000) to control 66.7 percent of the subsidiary. Klap has 14 business objectives including video, webcomics, an online music service and internet broadcasting. Kim Taek-hun, senior vice president and chief publishing officer at NCSoft, has been appointed as the CEO of Klap. Also, N