Further investments on the part of South Korean display panel manufacturers in large OLED panels for televisions, monitors and laptops will be unlikely for the rest of 2022, according to a panel expert on Thursday. Yi Choong-hoon, chief executive officer of display panel research firm UBI Research, cited a slow path to profitability in the cutting-edge panel businesses by Samsung Display and LG Display, despite growing market demand, in a seminar at Coex in Seoul on Thursday. For Samsung, a

LG Electronics and Kakao Mobility have teamed up to create a new ecosystem for future mobility as they jointly develop services like delivery robots and in-car infotainment systems. The two firms recently signed a memorandum of understanding, with their chief technology officers in attendance, they said in a statement Wednesday. Their partnership involves a slew of new projects on in-car user experience, delivery robots, connected home appliances, vehicle communications for passenger safety

President Yoon underlines his pledge to establish national aerospace agency

GOHEUNG, South Jeolla Province -- In its second attempt, South Korea successfully launched the nation’s first domestic rocket into orbit on Tuesday, a landmark step that opens a new era of homegrown space technology and lays the foundation for outer space excursion. After spending eight months on improving technical problems that caused an early shutdown of the third-stage rocket engine, the Nuri rocket (KSLV-II), weighing 200 metric tons, once again flew to outer space at the state-run

Tight collaboration of all parties concerned is key to a rocket launch, as a minor technical glitch could botch years of efforts. Behind Tuesday’s successful launch of South Korea’s first homegrown rocket Nuri were the joint efforts of over 300 companies at home. Korea Aerospace Industries, based in Sacheon, South Gyeongsang Province, was the effective leader of the pack. KAI has been in charge of the assembly of all rocket parts supplied since joining the Nuri project in 2014. K

SK Chairman Chey Tae-won is to be awarded the French Legion of Honor, France‘s highest civilian order of merit, during his trip to Paris later this week, according to news reports Tuesday. Chey, who has spearheaded South Korean capital investment in France, was reportedly recognized for his contributions to French-Korean economic cooperation. A week prior, SK Group’s subsidiary SK Geo Centric announced plans to partner with French environmental service provider Suez and Canadian

Inspire Entertainment Resort said Tuesday that it has signed a memorandum of understanding with Samsung Electronics and Hyundai Futurenet to build a high-end LED signage system in its resort under construction in Incheon, South Korea. The agreement established a consortium between Samsung and the Hyundai Department Store Group’s ICT platform unit, Hyundai Futurenet, on Monday to offer dynamic and futuristic ICT experiences for vacationers. As part of the consortium, Samsung Electronics

LG Chem said Monday that it is building its first hydrogen plant in South Korea as part of efforts to become carbon neutral throughout its petrochemical production. The plant, to be located in its Daesan complex, some 75 kilometers southwest of Seoul, will have an annual production capacity of 50,000 tons of hydrogen by the second quarter of 2024, with the construction work to start early next year. The facilities for cracking naphtha at a high temperature, known as naphtha cracking centers,

Naver’s cloud computing arm Naver Cloud said Monday it has partnered with US chip giant Qualcomm and local drone developer Argosdyne to build the nation’s first drones running on the 5G wireless network. Under the partnership, Naver Cloud will build the 5G network infrastructure for drone services, while Argosdyne will develop drones that can be operated to run on Qualcomm’s Flight RB5 5G platform. Flight RB5 5G is the world’s first artificial intelligence- and 5G-ena

South Korean construction company Daewoo Engineering & Construction said Monday that it is developing wearable robots that can be used at construction sites to prevent injuries while maintaining productivity. The company was chosen Tuesday in a contest held by the Korea Institute for Robot Industry Advancement to work in cooperation with local robotics startup WIrobotics and the Korea Orthopedics and Rehabilitation Center to develop a smart work care service involving wearable robots. The

Korean biotech looking to score another major deal by selling technology license

SK Chairman Chey Tae-won called on group executives to revamp a corporate valuation tool to better communicate with shareholders against the backdrop of global supply chain disruptions and monetary tightening, the company said Sunday. In an extended management meeting held Friday, Chey stressed how the new corporate valuation tool -- designed to incorporate nonfinancial elements into financial performance measurement -- can reflect the business status of an SK Group affiliate with higher accura

KT and Hanmi Pharmaceutical have jointly invested in digital therapeutics developer Digital Pharm, officials said Sunday. With the investment, KT will be in charge of developing platforms for digital therapeutics, drafting business strategies and providing pipelines. Meanwhile, Hanmi plans to maximize synergetic impact through hospital-specialized marketing and supporting the authorization of digital medical devices. Digital Pharm’s first projects are in digital therapeutics and electro

Samsung Electronics Vice Chairman Lee Jae-yong returned to South Korea Saturday, with a renewed focus on the auto parts business. As the de facto leader of Korea‘s largest conglomerate arrived at Seoul Gimpo Business Aviation Center at around 9:40 a.m., Saturday, he told reporters that he “could feel drastic changes in the auto industry.” The remark came as he met German carmaker BMW, a key battery client of Samsung’s secondary battery arm Samsung SDI, and visited Samsu

'Settlement-free peering' logic surfaces in the world's only 'network usage fee' litigation