South Korea’s homegrown mobile app store operator One Store has dropped its plan to go public amid poor stock market conditions, the company said Wednesday. One Store’s decision comes a day after a book building of institutional investors wrapped up, in which the offering price of a common share was below its suggested price band, at between 34,300 won ($26.9) and 41,700 won apiece. The figures have estimated One Store’s equity value at between 910 billion won and 1.1 trilli

South Korean researchers have developed a diagnosis platform using blood testing to detect early-stage Alzheimer’s disease, the Korea Research Institute of Bioscience and Biotechnology said Wednesday. To date, there is no cure for Alzheimer’s disease, a type of senile dementia leading to memory loss and cognitive impairment. The KRIBB said the key to treatment is to slow the progression of the disease through accurate early diagnosis. The researchers confirmed that the level of m

LG Energy Solution Ltd. and the Research Institute of Industrial Science and Technology (RIST) said on Wednesday they agreed to conduct a joint research project to develop smart factory technologies. Among the technologies the country’s top battery maker and the Posco-founded think tank plan to develop together is a “digital twin,” a virtual representation that serves as the real-time digital counterpart of a physical space to predict possible problems through various simulati

This photo unveiled Tuesday shows an 8-inch, 360-degree folding organic light-emitting diode screen for mobile devices by South Korean panel maker LG Display. It was showcased during Display Week 2022 hosted by the Society for Information Display from Sunday to Friday in San Jose, California. According to LG Display, the screen can be folded over 200,000 times without affecting its performance.

Samsung Electronics has reclaimed the No.1 spot by monthly sales in India, buoyed by the return of its Galaxy Note successor Galaxy S22 Ultra, a phablet with built-in stylus S Pen support, data showed Tuesday. Samsung emerged as the leader in overall smartphone sales and shipments for the first time in six months in the world’s second-largest smartphone market, showed data by market intelligence Counterpoint Research. In March, Samsung accounted for 22 percent by volume market share and

Samsung Electronics said Tuesday that it has developed the industry’s first 512-gigabyte Compute Express Link (CXL) DRAM module for servers that enables a higher memory capacity and lower latency suitable for artificial intelligence and cloud computing. The CXL-standard DRAM memory expander will allow a server platform in data centers and enterprise servers to add new layers of short-term memory capacity compatible with a processor chip without unnecessary costs and complexities, as oppo

Researchers at the Korea Advanced Institute of Science and Technology said they succeeded in real-time visualization and measurement of floral scent emission for the first time in the world. Using optical interferometry, research teams led by mechanical engineering professor Kim Hyoung-soo and biological sciences professor Kim Sang-gyu measured the frequency with which lily flowers emit scents. Floral scent sampling methods using gas chromatography-mass spectrometry have been used to measure t

South Korea’s homegrown app marketplace One Store aims to challenge Google and Apple, two US tech giants that enjoy a near-monopoly in the whopping 300 trillion won ($235 billion) app store market globally, with its forthcoming stock market debut here. One Store, the nation’s sole operator of an app store of the same name, is a merged entity of the nation’s four app stores that was previously operated separately by SK Telecom, KT, LG Uplus and Naver. Now it is an affiliate of

LG Chem and the Korea Institute of Science and Technology (KIST) have developed a technology that efficiently turns carbon dioxide into carbon monoxide, which is used to produce alternative fuels and plastic. The two parties have developed an electrochemical reactor for converting carbon dioxide into carbon monoxide at the highest level of efficiency through joint research, the company said. Carbon monoxide is needed to produce alternative fuel sources such as synthesis gas and methanol, as we

Despite holding $85b in cash, tech giant struggles to find new growth drivers amid internal, external challenges. Experts have mixed views on the heir’s absence in steering the empire.

South Korea’s No. 1 mobile carrier SK Telecom said Sunday it has inked a strategic alliance with German counterpart Deutsche Telekom to bring its metaverse platform to European market. SK Telecom said in a statement the two companies will carry out a field test for metaverse operation in Europe before the end of 2022, create contents that work on the virtual world and implement a marketing for metaverse migration in Europe. SK Telecom premiered an international version of its own ifland m

SK Shieldus, the South Korean security service subsidiary of SK Group’s ICT arm SK Square, said on Friday that it has scrapped its plans for market debut, citing dampened investor sentiment. “We have submitted a delisting notice to the Financial Supervisory Service because the recent demand forecasting, which decides initial public offering prices, showed that our corporate value may not be well received,” the company said. Stressing that market sentiment has turned sour fol

A man stares at a life-sized Darth Vader made of lego cubes on display at E-Mart Wangshimri branch in Seoul in collaboration with Walt Disney Korea on Wednesday, celebrated as Star Wars Day among fans.

The list of South Korea’s 500 biggest companies by sales saw significant changes last year, with the rise of battery, K-pop and virtual currency firms, a corporate tracker said Wednesday. Battery maker LG Energy Solution jumped from No. 343 in 2020 to No. 44 last year on the annual list released by CEO Score as its shipments of pouch- and cylinder-type batteries surged on growing global demand for electric cars. Camera module supplier LG Innotek went from No. 68 to No. 48 in the same per

Cha Biotech’s US subsidiary Matica Biotechnology has opened a new cell and gene therapy production facility to boost its contract development and manufacturing organization business on the global stage, officials said Wednesday. With a 500-liter bioreactor, the new CDMO facility, based in College Station, Texas, will produce various types of viral vectors that are the essential basis of cell and gene therapy, according to Cha Biotech. The company said that Matica Biotechnology is curre