As Samsung Electronics remained cautious over US hedge fund Elliott’s proposal on governance restructuring, stock prices of the tech giant and related affiliates surged Thursday.Earlier Wednesday, Elliott sent a letter to Samsung Electronics, noting that the “unnecessary complex” structure of the company was weighing on its stock prices and it is thus undervalued by as much as 70 percent.The activist investor asked Samsung Electronics to split into a holding company and list its operating compan

Samsung Electronics is mired in another round of controversy after a US airliner was forced to evacuate its passengers and crew before taking off Wednesday from a Louisville airport after smoke was detected from a replacement Samsung smartphone, according to reports Thursday.The Southwest Airlines jet was getting ready to take off from a Louisville airport when the smoke was detected coming from one of the passenger’s Galaxy Note 7.The owner of the phone, Brian Green, told local media his device

Korean network carrier SK Telecom on Thursday began receiving preorders for the Luna S smartphone, a mid-tier smartphone jointly developed by local electronics maker TG&Co. and SK Telecom. The Luna S, priced at 568,700 won ($511), is an upgraded handset based on its predecessor Luna, promoted to success here by Seolhyun of K-pop girl group AOA last year. It will begin official sales Wednesday. (SK Telecom)

German life sciences and chemicals giant Merck opened a new biopharmaceuticals production and development support center in Incheon’s Songdo district on Thursday, as part of its moves to ramp up its presence in the country’s fast-growing biotechnology industry.　Located in the heart of Korea’s fast-growing biotechnology hub, Merck’s M Lab Collaboration Center is designed to provide local clients such as Samsung BioLogics, Celltrion and Green Cross with more comprehensive training and research and

Korean battery maker LG Chem broke ground on its electric vehicle battery plant located in Wroclaw, southwestern Poland, the company said on Thursday. LG Chem aims to operate the 41,300 square-meter plant by the second half of 2017 with an investment of 400 billion won ($360 million). The plant will be capable of producing more than 100,000 batteries annually for electric vehicles that can run up to 320 kilometers on a single charge, the company said. LG Group Chairman Koo Bon-moo (second from r

A Southwest Airlines flight leaving Louisville, Kentucky was evacuated Wednesday after a passenger’s Samsung phone began emitting smoke. Flight 994 was evacuated on the runway prior to takeoff after a passenger’s Samsung Galaxy Note 7 -- described as a replacement in Samsung’s global recall of the device -- apparently caught fire, the airline said.“All customers and crew deplaned calmly and safely via the main cabin door,” it said in a written statement.  (Brian Green)There is an ongoing global

New data detailing the genome sequence of a Korean individual was published in the scientific journal Nature on Thursday, offering new reference points specific to the Asian population for genetic scientists around the world. 　Titled “De Novo Assembly and Phasing of a Korean Human Genome,” the new academic research was compiled by the Seoul National University’s Genomic Medicine Institute in partnership with Korean genetic sequencing firm Macrogen.A graphic of a human genome based on a Korean in

US wearable maker Fitbit launched its latest model “Fitbit Charge 2” in Korea on Wednesday.  (Fitbit)Fitbit Charge 2 is an update to the brand’s previous best selling product “Charge HR,” with enhanced design and functions that gauge the wearer’s heartbeat, breathing and fitness level in real time. The measured data are all put into a numerical scale for maximum workout results, the company said. The price for the smart band is 199,000 won ($178). The product can be found at online shopping chan

The average prices of DRAM and NAND flash memory chips are expected to significantly improve in the fourth quarter, helped by stronger demand for notebook computers and a supply shortage in the NAND flash market, according to industry data Wednesday. The average contract price of DRAM for personal computers rose 7.4 percent on-month in September to $14.50, and the price for the fourth quarter “will reach its highest point in two years due to stronger-than-expected notebook demand worldwide,” DRA

China’s aggressive investment in panels may not have a significant impact on South Korea’s leading display manufacturers such as Samsung Display and LG Display, amid speculations that Apple may use LCD panels from China, according to local analysts. The latest report by IHS Markit said Apple is considering diversifying its supply chain to Chinese makers for its MacBook Air lines as Samsung and LG are shifting their focus into OLED from LCD. If so, this will be the first time Apple will use LCD p

LG Chem, one of the world’s largest battery manufacturers, is participating at an annual exhibition of rechargeable batteries in Seoul this week to display the products the company has developed for future industries, company officials said Wednesday.Their products displayed at the InterBattery 2016 include high-powered small batteries for drones and NASA spacesuits. A capture of the battery conference official website.LG is one of 140 companies participating the exhibition that runs through Fri

Samsung Electronics’ newly upgraded Galaxy A8 smartphone began sales in South Korea on Wednesday, aiming to appeal to customers looking for a premium smartphone at a lower cost.　Sold exclusively through local network carrier SK Telecom, the Galaxy A8 is a mid-tier smartphone priced at 649,000 won ($583) -- making it around 300,000 won cheaper than the premium Galaxy Note 7, which recently resumed sales in Korea.A model holds up the new Galaxy A8, which was released in Korea via SK Telecom on Wed

Market expectations that Samsung could debut its foldable smartphones next year grew Tuesday, after the latest in a series of related patents was registered by the tech giant’s affiliates in the US.The United States Patent and Trademark Office granted Samsung Display, a display unit of the South Korean electronics giant, a patent on foldable display device on Sept. 27, the US office’s online data showed. A blueprint of Samsung's foldable smartphones submitted to the USPTO.Registered as No. 9,455

South Korean battery-maker LG Chem signed a partnership deal with American tech startup Faraday Future to supply electric vehicle batteries, the two firms announced Tuesday.The local battery firm said the cells would be incorporated into Faraday Future’s Variable Platform Architecture, the automaker’s unique platform, which enables users to extend EV battery capacity. “LG Chem worked closely with Faraday Future to develop a tailored cell chemistry to optimize the range and safety of our mass pro