After years of reduced market share, Korea’s top makers of smartphones, cars seek turnaround in all-important market

LG Electronics introduced a new brand identity highlighting the value of its slogan “Life’s Good” to actively communicate with customers beyond generations and locations, the South Korean consumer appliance giant said Wednesday. The conglomerate shared its new brand communication guidelines with its employees all around the world, outlining a new direction for the brand for a younger and dynamic image, and ultimately, to establish itself as an iconic brand. “Having a stro

South Korean game maker Netmarble and global metaverse gaming platform The Sandbox have signed a strategic partnership to enhance gaming content and provide various experiences to players, officials said Wednesday. According to the announcement, The Sandbox will set up a Netmarble intellectual property space within the K-Verse -- a specialized space dedicated to Korean culture and entertainment in the virtual world -- to offer players a chance to immerse themselves in Netmarble’s popular c

KAIST-developed next-generation small satellite to be loaded onto Korea's rocket

Samsung Display, the display arm of Samsung Electronics, has clinched a deal to supply organic light emitting diode panels for Ferrari’s next generation automobiles, the company said on Tuesday. Samsung Display CEO Choi Joo-sun and Ferrari CEO Benedetto Vigna agreed for the Korean display maker to supply the OLED panels and support the luxury automaker’s latest effort for digital transformation, the company said. “Based on our extensive expertise in OLED technology, we are po

South Korean IT solutions provider LG CNS said Tuesday it is bolstering ties with US tech behemoth Microsoft to accelerate collaborations in artificial intelligence, the cloud-based digital transformation, known as DX for short, and other joint projects. According to the company, CEO Hyun Shin-gyoon met with Microsoft Executive Vice President and Chief Commercial Officer Judson Althoff at the US company’s headquarters in Redmond, Washington, last Thursday (local time) to attend a high-leve

LG Electronics’ Objet Collection OLED TV, in collaboration with the Dutch luxury furniture and interior brand Moooi, is displayed at Milan Design Week 2023, the world’s largest design fair that kicks off in the northern Italy city next week.

Despite Samsung's unrivaled dominance, Apple pins high hopes on Gen Z, half of whom are iPhone users

South Korea and Britain agreed to strengthen cooperation on nuclear power and clean energy, releasing a joint declaration Monday. South Korean Industry Minister Lee Chang-yang met with British Minister of Department for Energy Security and Net Zero Grant Shapps in Seoul and agreed to work together to secure energy security and handle climate change, the Korean Ministry of Trade, Industry and Energy said. Exchanging their thoughts on the importance of energy transition, the two ministers issued a

Consumer appliances giant has set Asia as strategic region

LG Electronics said Friday it predicted its first-quarter operating earnings at 1.5 trillion won ($1.14 billion), which will likely be the company’s second-highest profit for the January-March period, outpacing Samsung Electronics' financial result for the first time in more than a decade. In its earnings guidance, the consumer electronics giant estimated its January-March operating profit will likely fall 23 percent from a year ago. The operating income exceeded the local analyst con

Samsung Electronics said Friday it was cutting its chip production to a “meaningful level” after reporting a worse-than-expected 96 percent plunge in its quarterly operating profit estimate amid the global chip downturn. “We’re adjusting to a lower memory production at a meaningful level centering on products that have secured enough inventory to respond to future demand, in addition to optimizing line operations that are already underway,” the company said in a sta

As South Korean business leaders play a key role in attracting support for Busan’s bid to host the World Expo 2030, LG Group’s top executives traveled around the world to win votes. In October last year, Chairman Koo Kwang-mo visited Poland to meet with Polish Prime Minister Mateusz Morawiecki, requesting the country’s support for Busan’s Expo bid. “Busan is South Korea’s second largest city, and it is also where LG first started its business. Busan is also wh

South Korea's bid to host the World Expo in Busan envisions the event morphing into a global platform providing solutions for the pressing challenges faced by the post-pandemic world. Under the theme of “Transforming Our World, Navigating Toward a Better Future," Busan aims to lead the global fair to take a great leap forward to become a venue of discussions needed for radical transformation like climate change, polarization and digitization. In the past, Expo themes were typical

In an age of advanced artificial intelligence, experts suggested ways to effectively use the high-level technology at the Global Business Forum hosted by The Korea Herald on Wednesday. “With the ChatGPT boom, we need to think about how to wisely use AI and seek happiness in our lives,” said Chang Dong-seon, CEO of Curious Brain Lab, during the during the seventh session of the forum held at the Ambassador Seoul hotel in Jung-gu, Seoul. For instance, people seem to consider techno