Samsung Electronics said Tuesday it was teaming up with Israeli firm SolarEdge Technologies, the world's leading solar smart inverter company, to promote carbon-neutral homes. Under the new partnership, Samsung has established a foothold for expanding its SmartThings Energy business in Europe. Samsung has previously cooperated with global solar firms including Hanwha Q Cells, SMA Solar Technology and Maxeon Solar Technologies, the company said. “We will continue to cooperate with vari

Companies say China is still too big to ditch, seek plan B

A former executive of Samsung Electronics has been taken into custody for leaking the tech giant’s confidential business information to build a copycat semiconductor manufacturing plant in China, a local prosecutor’s office said Monday. In a press conference, the Suwon District Prosecutors’ Office revealed it has arrested the 65-year-old former executive of Samsung for violating the Prevention of Divulgence and Protection of Industrial Technology Act and the Unfair Competition

Samsung Electronics reportedly plans to launch an in-house artificial intelligence-based service for internal use this year amid security concerns raised over OpenAI’s highly-advanced chatbot ChatGPT, according to industry sources on Sunday. Sources on condition of anonymity said the company’s co-CEO Kyung Kye-hyun, who oversees the tech giant’s chip business, recently unveiled the plan during a recent lecture attended by Samsung executives and employees. During the lecture, Ky

South Korea’s largest private equity firm, Hahn & Company, announced Friday it has signed a definitive agreement with Lutronics jointly to launch a tender offer for all remaining shares of the Korean medical device maker, worth 957 billion won ($735.9 million). Lutronic, established in 1997, has been expanding its global presence supplying aesthetic medical devices in overseas markets, according to Hahn & Co. In 2022, Lutronic reported sales of over 264 billion won in 2022, with 40

South Korea has become the fourth country to join the world’s first multilateral digital trade agreement, the Digital Economic Partnership Agreement, to boost its digital content and service exchange, the Trade Ministry said Friday. Trade Minister Ahn Duk-geun met with his counterparts from the three DEPA member states -- Singapore, New Zealand and Chile -- on the sidelines of their Organization for Economic Cooperation and Development ministerial council meeting in Paris, to finalize the

World No. 2 memory chip maker widens technological gap with US rival Micron, China's YMTC

Information technology service provider LG CNS said Wednesday it signed a deal with US tech conglomerate Honeywell to spur innovation in the smart factory industry. Smart factories are digitized factories that depend on device connection, machinery and production systems to collect and share data for the optimization of manufacturing and supply chain management. They involve various innovative technologies such as artificial intelligence and cloud computing. The two companies agreed to work toge

Tech giant touts Seoul as epicenter of innovation, culture and top seller of foldable phones

Samsung Electronics said Wednesday that its latest automotive processor, the Exynos Auto V920, will be supplied to Hyundai Motor’s next-generation in-vehicle infotainment systems, a first chip collaboration between the nation’s top two companies. “We are thrilled to be collaborating with Hyundai Motor, a prominent global mobility manufacturer, and we anticipate that this partnership will further solidify our position in the automotive infotainment space,” said Jae Geol Py

Samsung Electronics, the world’s leading smartphone and chip maker, on Wednesday marks the 30th anniversary of the late former chairman’s iconic New Management Initiative, which is widely considered to have led the then consumer appliance firm towards becoming a global tech powerhouse. Three decades ago, Samsung late former Chairman Lee Kun-hee convened an executive meeting in Frankfurt, Germany for three days, during which he urged a drastic change in management. "If you are to

The number of smartphone users on 5G mobile networks had topped 30 million as of April for the first time since the service was commercialized in 2019, data showed Tuesday. The total number of 5G users reached 30.02 million in April, accounting for 38.1 percent of the total 78.79 million mobile subscriptions in the country, according to the data from the Ministry of Science and ICT. SK Telecom Co., the country's largest mobile carrier by subscriptions, had the most 5G users at 14.35 million

South Korea's biopharmaceutical company Celltrion announced Monday that the company will cooperate with the US biotech firm Rani Therapeutics to develop an oral version of the Humira biosimilar CT-P17. CT-P17, also known as Yuflyma, is a high-concentration, low-volume and citrate-free biosimilar of Humira, an injectable treatment for rheumatoid arthritis and other autoimmune conditions, developed by AbbVie. Celltrion received the US Food and Drug Administration's approval for the injec

South Korean drugmaker Daewoong Pharmaceutical said Monday that it is in talks with multinational pharmaceutical companies to carry out clinical trials of Fexuprazan, its new gastroesophageal reflux disease treatment, in key markets such as the US, Europe and Japan. The announcement comes after Daewoong ended its partnership with US biotech firm Neurogastrx on the same day. Earlier in June 2021, Daewoong signed an agreement to license out Fexuprazan to the US biotech firm. Under the contract wor

LG Electronics announced Monday it has joined RE100 initiative to go net zero by 2050. The RE100 initiative, introduced by The Climate Group in partnership with the Carbon Disclosure Project in 2014, sets a 2050 target for using 100 percent renewable electricity. Global tech giants such as Samsung Electronics, Apple, TSMC and Sony have already joined the initiative. LG Electronics said it will gradually increase the percentage of renewable electricity usage to 60 percent by 2030, and then to 90