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

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

South Korea plans to buy more Taurus air-to-surface missiles that can strike North Korea's nuclear and missile facilities, military officials said Tuesday.  "The military has recently decided to acquire 90 more Taurus missiles to further beef up its anti-nuclear and anti-missile capabilities. The process to purchase the additional missiles is underway," a defense ministry official told Yonhap News Agency.  This photo, taken on Aug. 9, 2016, shows a Taurus missile (the center missile among the th

 North Korea has been generating hard currency through illicit real-estate dealings in Bulgaria, diplomatic sources said, raising calls for Sofia to intervene amid global efforts to choke off sources of revenue for Pyongyang's nuclear and missile programs.Sources said that Pyongyang's embassy in the East European state, has lent part of its office buildings in Sofia to two business entities that specialize in wedding ceremonies and information technology.This photo, taken on Oct. 2, shows the No

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

Foreign smartphone-makers are speeding up their expansion in the Korean market long dominated by local brands Samsung Electronics and LG Electronics. A string of foreign smartphone brands Apple, Huawei, Sony and Blackberry have recently unveiled or plan to roll out their new devices here. “Korea is a good test-bed for new smartphones because of its fast Internet speed and tech-savvy consumers,” said Chung Hei-sang, a senior researcher at Korea Economic Research Institute. “The law to restrict ph

LG Innotek, a parts-making unit of LG Group, won a patent suit against Japanese electric motor-maker Nidec Corporation, the company said Thursday. The ruling came after the Korean parts-maker filed a lawsuit against Nidec in January of last year, alleging the Japanese firm infringed its patents related to optical disk drive. The suit was filed at the Beijing Intellectual Property Court where their production facilities are located. The patents that the Japanese firm allegedly infringed are techn

BUSAN -- A General Motors executive has said diversity will dominate the new automobile industry in terms of power train types and competitors, as boundaries are increasingly blurred. Daniel Nicholson, vice president of GM’s Global Propulsion Systems, said although GM is in a leading position in electrification, he doesn’t think one power train will lead the future auto industry.“Eco-friendly cars -- electric and hybrid -- and internal combustion will peacefully coexist for a significant period

SK Group is speeding up its business reshuffle through merger and acquisition deals after Chairman Chey Tae-won returned to the management position a year ago after a three-year hiatus. Most recently, its trading arm SK Networks was reportedly chosen as the preferred bidder to buy local home appliance vendor Tongyang Magic. The deal is expected to create synergies by linking SK Networks’ rental business and Tongyang Magic‘s home appliances. “If confirmed, the deal can create synergies within the