LG Group is gearing up for the Internet of Things era that connects all mobile devices and electronic machines through the Web.Affiliates of the group have secured technological know-how in diverse fields of electronics, telecommunications and information technology services. They are seeking synergies to lead the still nascent but lucrative market. LG Electronics is already a major force in the field as it owns 139 IoT-related patents as of 2014 -- the largest in Korea and the fourth globally,

LG Display, the world’s largest display maker by sales, is seeking to further strengthen its unrivaled leadership in organic light emitting diode, or OLED, claiming the technology would become a game-changer in the future display market.OLED works without a backlight so it offers almost infinite contrast levels, high light-output, and no motion blur, uniformity or off-angle issues. It also allows thinner and lighter device styling compared to liquid crystal diode, or LCD.  LG Display, an OLED pi

LG Group is joining hands to transform Jejudo Island into an emissions-free, environmentally-friendly island by 2030. In partnership with the local government of the nation’s southernmost resort island and the state-run energy producer Korea Electric Corp., the Korean conglomerate recently unveiled the unprecedented, ambitious plan. Under the plan, all the energy use on the island will come from renewable energy sources such as solar power and wind, while all the cars on the road are also expect

South Korea is seeking ways to levy a corporate tax on profits of global technology companies and other multinationals as early as next year in response to growing criticism of their tax avoidance structures. The diverted profits tax is more widely called the “Google tax,” as U.S. tech giants such as Google, Apple and Amazon earn a lot of money around the world, but collect nearly all of the profits in tax havens. “The rest of the world is considering the adoption of the ‘Google tax’ because the

Samsung Group has more recently focused considerable resources into the biotechnology business with aims to become a major force in the still nascent but lucrative market.The nation’s largest conglomerate is investing at least $2 billion in biopharmaceuticals, especially the soaring segment of biosimilars -- cheaper copied versions of branded drugs whose patent has expired. Samsung Biologics` production plant in Songdo, IncheonAnd two Samsung units -- Samsung Bioepis and Samsung Biologics -- are

Samsung Electronics, the crown jewel of Samsung Group, has been leading the nation’s technological innovation for decades. Amid enhanced economic uncertainties, the company pledges to fend off challenges through innovative new products and relentless research and development efforts.  Samsung Group`s headquarters buildings in Seocho-dong, southern SeoulThe company recently posted third-quarter earnings guidance that beat analysts’ estimates. The company estimated its profit rose almost 80 percen

Value-added network, or VAN, operators are resisting Hyundai Card’s recent decision not to pay sales slip fees for payments made by Samsung Pay, the Korean tech giant’s new mobile wallet service. VAN companies get paid for collecting credit card slips from merchants and inspecting illegal card use. They earn about 20 to 30 percent of the revenue from the process. But Hyundai Card, the nation’s second-biggest card issuer affiliated with Hyundai Motor Group, has recently decided to stop paying fee

LG Chem on Wednesday opened its first Chinese tech center aiming to respond more promptly to local demands in the all-important market.The two-story building with one basement is located at a 4,000 square-meter site in Guangzhou, the capital city of Guangdong Province in southern China. A total of 10 billion won ($8.8 million) was invested for the construction alone. Some 40 researchers, including those hired locally, will be working at the new facility to offer total solutions for product devel

Korean game developer Smilegate Group is teaming up with Hollywood production company Original Film for the big screen adaptation of its mega-hit shooting game “Crossfire.”This is the first time for a Korean-made game to be adapted for the silver screen. Launched in 2007, “Crossfire” was the world’s top-grossing online game last year, raking in 1.5 trillion won ($1.3 billion) in global sales. The number of concurrent users exceeds 6 million, the largest figure for a single game. Smilegate said W

Sebang Group, a South Korean midsized conglomerate specializing in logistics services, celebrated its 50th anniversary on Sept. 11. Established in 1965 by founder Lee Eui-soon, the group has grown into a global name with 16 affiliates. One of its key affiliates is Sebang Global Battery -- widely known for its Rocket battery brand. During a ceremony with all employees in attendance, chairman Lee Sang-woong stressed the need to further strengthen the group’s competitiveness. “Mongolian warrior Gen

Shares of Samsung Electronics surged to a two-year high after the Korean tech giant posted third-quarter earnings guidance that beat analysts’ estimates. Customers try out Samsung devices at a store near the company`s headquarters in Seocho-dong, southern Seoul, on Wednesday. YonhapThe company estimated its third-quarter profit rose almost 80 percent on-year to 7.3 trillion won ($6.3 billion) from 4.06 trillion won, its first quarterly profit gain in two years and the biggest since the first qua