Millie’s Library, one of South Korea’s largest e-book subscription platform, said Sunday that it is set for a market debut by the end of this year. The company filed a preliminary prospectus on Friday stating that it will offer 2 million common shares out of the total 8,234,901 shares. If the initial public offering process goes as planned, it will be the country’s first e-book platform to go public. Its shares are poised to start trading on the Korea Exchange’s second

Naver's founding member Kim Jeong-ho to replace Kakao founder at Brian Impact foundation

Posco Chemical said Friday it has signed a deal to create a joint venture with US auto maker General Motors to launch a $327 million cathode materials plant for batteries that can power 220,000 electric vehicles annually in Quebec, Canada. The material firm, based in Pohang, North Gyeongsang Province, will invest $278 million in an 85:15 joint venture between Posco Chemical and GM, called Ultium CAM. The deal is preceded by Posco Chemical‘s plan to launch an operation there under Posco Ch

Samsung Medical Center said Thursday that it has created a consultative group on Friday to accelerate its plan of adopting a robot-driven smart hospital system. The hospital was selected in 2021 by the Korea Institute for Robot Industry Advancement, an organization under South Korea’s Industry Ministry, to receive up to 1.5 billion won ($1.18 million) in subsidies to carry out a project to operate robots in the hospital. SMC currently operates one robot specializing in the distribution o

Software developer plans to have 50 or more satellites launched within next 5 years

LG Group said Thursday it has confirmed a spending package of 106 trillion won ($83.7 billion) through 2026 to consolidate its manufacturing and research base in South Korea. The five-year plan is intended to add momentum to LG‘s domestic business regarding next-generation electric vehicle batteries, artificial intelligence, biopharmaceutical technology and clean technology. The expenditures are aimed at ramping up research capabilities, boosting production and securing infrastructure

LG Display said Wednesday that media artist Refik Anadol’s “An Important Memory for Humanity,” a non-fungible token work of art on its transparent OLED display, recently raked in $6.2 million at auction. LG is the sole producer of a large-size transparent OLED display that boasts glass-like clarity to be used across industries, including digital art.

Samsung Electronics said Wednesday it has partnered with US software company Red Hat to develop software technologies for next-generation memory solutions, as the industry is anticipating the birth of software to be integrated in memory chip hardware. Red Hat, an IBM subsidiary, is known for Red Hat Enterprise Linux, a commercial open-source Linux operating system distribution developed by the company. Under the partnership, Samsung and Red Hat will jointly develop and validate a software tha

South Korean information technology solutions firm LG CNS has come up with 52 real-life applications for artificial intelligence, in line with its move to expand AI-related consulting services, the company said Wednesday. The use cases will allow its clients to better identify what kind of AI solutions they would need, and help LG CNS recommend the most optimal solution to the clients, LG CNS said in a statement. For example, if a company is looking to avoid worksite disasters, LG CNS will r

South Korean telecommunication firm SK Telecom unveiled Wednesday plans to explore more use cases of quantum-protected chips used in Samsung Galaxy Quantum series smartphone, in hopes of entering mass market by the first quarter of 2024. The world‘s first-ever crypto chip solutions have so far been applied to the Galaxy Quantum series smartphone -- available for purchase only in Korea -- based on the quantum random number generator chip solutions SK Telecom developed jointly with Switzerl

South Korean battery maker Samsung SDI said Wednesday it is building its first US plant in the state of Indiana along with its joint venture partner Stellantis, joining its crosstown rivals to secure its footing in the burgeoning electric vehicle market. The $2.5 billion plant, located in Kokomo, Indiana, is expected to break ground later this year and start operations in the first quarter of 2025. The companies said they aim to elevate its production capacity from the current 23 gigawatt-ho

Volkswagen ID.4 GTX, powered by LG Energy Solution‘s battery cells and modules, is seen climbing up the dormant Uturuncu volcano in Bolivia in this photo released by the South Korean battery maker. German long-distance driver Rainer Zietlow and his Challenge4 team won a new Guinness World Records title for the highest altitude reached with electric cars.

South Korea’s largest conglomerate Samsung announced Tuesday plans to invest a combined 450 trillion won ($355.8 billion) and create some 1 million jobs in Korea over the course of five years -- the largest ever in the group’s history -- in order to maintain its competitive edge and navigate uncertainties. Samsung also chose chip design, foundry and biotechnology as the major three pillars of its future growth in its investment guidance. The groupwide plan is expected to set the

Industry insiders say content providers' rising prices 'unnatural and negative'

SK Group, South Korea‘s second-largest conglomerate by assets, disclosed Monday actions to create social value and tools to measure how much impact it has generated through 2021 in numbers. The group with its subsidiaries contributed 18.4 trillion won ($14.5 billion) to issues such as unemployment, climate change, phone scams, blood shortages, car accidents due to drowsy driving, among others. The figure rose 60 percent from that of 2020, its estimate showed. SK had nearly 190 affiliates