Samsung Electronics Co. has shared more than 100 patents with smaller businesses as part of efforts to promote shared growth, the industry ministry said Tuesday. The leading South Korean tech giant transferred 128 patents to 85 companies this year to assist them in developing innovative products and solutions without royalty fees, according to the Ministry of Trade, Industry and Energy. Samsung Electronics first launched the program in 2015 and has offered a total of 1,210 patents to 673 compani

Korean specialty chemicals and materials maker Hansol Chemical said Monday it has filed a complaint with the local antitrust authorities against Chinese TV maker TCL for the misleading advertising of its latest TV sets. The Korean firm accused TCL, China’s largest TV manufacturer, of falsely branding its liquid crystal display TVs as “QD TVs” even though they actually contain no QD or quantum-dot materials that help enhance image quality. Higher-priced QD-incorporated LCD TVs,

LG Electronics on Monday unveiled its new Digital Cockpit concept involving modular systems for ultimate customization. The Digital Cockpit gamma, the third-generation concept of the appliance giant's future mobility, features OLED displays, artificial intelligence and 5G technologies. (LG Electronics)

Hana Financial Group Chair Ham Young-joo (fourth from left) and other company executives join a "gimjang" or kimchi-making event at the group's headquarters in Seoul on Monday as part of the 2024 Modu Hana Day campaign. Some 300 people, including representatives of Hana's partner firms, participated in the annual event to donate 11,111 heads of kimchi to disadvantaged households. (Hana Financial Group)

World’s 6th-largest zinc smelter hit with business suspension for discharging polluted wastewater

Almost 1 million foreign national job seekers, but only 8% of recent graduates

South Korea’s second-largest conglomerate SK Group announced Monday its commitment to further enhance its governance structure by expanding the board's role beyond decision-making to setting directions and evaluating performance, intent to better navigate the era of artificial intelligence. At SK Directors’ Summit 2024 in Seoul on Thursday, SK Group Chairman Chey Tae-won and chief executives of the group’s affiliates, including Choi Chang-won, the head of the group’s

Korean shipbuilders are raising hopes to expand their presence in the US, following President-elect Donald Trump’s call for more bilateral cooperation in the shipbuilding sector. According to Seoul’s presidential office, President Yoon Suk Yeol and Trump had a 12-minute phone call Thursday morning after Trump won a second nonconsecutive presidential term. After exchanges of congratulations and gratitude, Trump specifically mentioned Korea’s shipbuilding capabilities and the US&

South Korean display maker LG Display announced Sunday it succeeded in developing the world’s first stretchable display capable of expanding up to 50 percent, the highest elongation rate within the industry. The latest breakthrough, the outcome of five years of research, was unveiled during an industrial gathering at LG Science Park in Seoul on Friday. LG's new prototype features a 12-inch screen that stretches up to 18 inches while delivering a high resolution of 100 pixels per inch

Singapore’s ARA Asset Management is reportedly in talks with Brookfield Asset Management to acquire the International Finance Center Seoul, one of South Korea's largest mixed-use commercial properties, according to sources Friday. Following its purchase of the Conrad Seoul Hotel in August, ARA is now discussing a potential deal with the owner of IFC Seoul to buy the remaining office towers and retail mall. Located in Yeouido, Seoul, the IFC complex was initially developed by US-based

South Korean top tobacco company KT&G has rejected a recent proposal from the Singapore-based activist private equity fund Flashlight Capital Partners to acquire Korea Ginseng Corporation, a KT&G affiliate. In a move to turn down Flashlight Capital Partners' bid, KT&G issued a statement Friday and reiterated its commitment to a long-term growth strategy focused on three core businesses, including health functional foods -- the segment Korea Ginseng Corporation falls under. KT&am

Starbucks Korea will open a new outlet this month, just 1.4 km away from North Korea. The store will be located on the second floor of the observatory at Aegibong Peace Ecopark in Gimpo, Gyeonggi Province. Aegibong, a 154-meter peak, offers a direct view of North Korea’s Kaepung County and Songaksan. Since the park’s opening in 2021, the observatory has drawn large crowds. Last year, almost 140,000 tourists visited the park to catch a glimpse of North Korea. The ecopark features an o

Posco Group is reportedly considering selling its stainless steel plant in Zhangjiagang, China, as part of a broader restructuring initiative led by Chairman Chang In-hwa to streamline 125 low-profit and non-core assets. According to industry sources Friday, Posco is in the process of selecting an advisory firm to aid in decision-making regarding the sale of Zhangjiagang Pohang Stainless Steel. With an annual production capacity of 110,000 metric tons, the plant was constructed near the Yangtze

South Korean internet giant Naver on Friday reported record-high quarterly earnings for the July-September period, showing strong performances in all of its major businesses including the search platform, commerce and content. During an earnings call, Naver Chief Executive Officer Choi Soo-yeon said the company would expand its "AI Briefing" summary function to mobile phones next year. The feature provides direct answers to search queries by understanding user intent and context based

South Korea’s transformer industry is booming thanks to rising global demand for clean energy and artificial intelligence infrastructure. Leading Korean manufacturers like HD Hyundai Electric and Hyosung Heavy Industries have seen a significant surge in orders for their high-capacity transformers, which are essential for handling the massive electricity loads required by renewable energy projects and data centers supporting AI. With their order books full and growing, these companies are n