South Korea‘s current account surplus increased to a nine-month high in July as exports fell at a slower pace than imports as major economies started to resume trades after the pandemic lockdowns, according to data by the Bank of Korea. The current account surplus reached $7.45 billion in July, up from $6.88 billion the previous month. The figure was the largest surplus since October 2019, when the country posted a surplus of $7.83 billion. Korea achieved the surplus for the third stra

South Korean battery makers LG Chem and SK Innovation are sparring again over an ongoing case regarding a violation of an electric battery patent. On Sunday, the companies each released statements on the status of their EV battery patent case being investigated by the US International Trade Commission. The case was filed by SK Innovation last September, following LG Chem’s filing of a trade secret misappropriation case against the company in April 2019. It was reported that LG Chem

The global smartphone market is projected to shrink 11 percent this year compared to last year due to the impact of the coronavirus pandemic, according to a report Sunday. Market researcher Strategy Analytics forecast in a recent report that total shipments of smartphones would be 1.26 billion units this year, reducing 11 percent from last year. The researcher, however, raised its forecast from a 15.6 percent decline that was made earlier this year, as the pandemic impact on smartphone sale

Samsung Electronics on Wednesday introduced an array of home appliances targeting the European market, through a virtual press conference held to kick off IFA 2020 this week. Entitled “Life Unstoppable,” the online press conference amid the protracted COVID-19 pandemic showcased the consumer electronics that Samsung expects to boost sales in Europe. “Samsung will continue providing products that offer European consumers a motivation to make a life that is unstoppable throu

LG Electronics said Wednesday the company will hold a virtual show to unveil its new smartphone project dubbed “Explore” involving a whole new form factor on Sept. 14. The company sent a 30-second invitation video to global media and industry officials, hinting at a new dual screen form whose main display rotates clockwise to make a T shape. At the end of the video, LG says, “Life gets better in unexpected ways when you discover the unexpected.” Last week, an excl

The Galaxy Z Fold2, the second edition of Samsung Electronics’ Galaxy Fold, and the 5G version of the Galaxy Z Flip were fully unveiled through a livestream event on Tuesday. The successor to Samsung’s first-ever foldable smartphone, the Galaxy Fold – and its third foldable device after the Galaxy Z Flip -- features a larger and fuller bendable display that aims to offer users greater immersion and the convenience of having a large-size screen. In comparison with the first

Samsung Electronics is facing a harder time than ever before, finding itself at the center of another legal battle against prosecutors as its heir apparent Lee Jae-yong on Tuesday was indicted for his alleged role in a 2015 merger and fraudulent accounting. Legal representatives for Samsung released a lengthy statement upon the indictment questioning the legitimacy of the prosecutors’ decision that apparently ignored an independent panel’s opinion in June that they should not file

For those who can’t physically check out the latest home appliances and TVs at IFA 2020, the biggest annual trade show in Europe, LG Electronics said Tuesday it has opened its first 3D virtual exhibition ahead of the show’s grand opening this week. The Korean tech company that previously would take one of the largest areas of the Messe Berlin building, Hall 18, for its exhibitions each year is now holding an online show that aims to provide a realistic experience of the same ha

After successfully bolstering the supply side with aggressive investments over the last six months, the semiconductor industry is again in a conservative mode at least until the second quarter of next year, according to industry sources Monday. Such conservatism in making new investments is running deep across the memory market, in particular amid growing forecasts of slowing demand in the second half of the year. According to sources, the world’s two largest memory providers Samsung

Samsung Electronics said Friday it has sent invitations to global media outlets and industry officials to the unpacking event for its third foldable smartphone Galaxy Z Fold2 on Sept. 1. Entitled as “Galaxy Z Fold2: Unpacked Part 2,” the event will explore in-depth the groundbreaking features of the second Fold edition. It will be livestreamed from Seoul though Samsung’s homepage (www.samsung.com), starting at 11 p.m. on Tuesday. The upgraded device from the first Galax

South Korean tech giant Samsung Electronics is continuing to help various communities hit by the COVID-19 pandemic worldwide, with its latest donation worth $4 million going to nonprofit organizations in the United States, according to the company on Wednesday. The donation was announced through its Samsung America newsroom homepage, which highlighted Samsung’s commitment to the local communities in the countries where it does business. According to the announcement, Samsung has pr

Samsung Electronics said Wednesday that its 2020 smart TV lineup has been certified by the Royal National Institute of Blind People in the United Kingdom. The organization offers a platform design and app services that increase access to TV for people with impaired vision. The RNIB has granted Samsung its Tried and Tested Accreditation for the smart TVs launched this year. It is the first time it has granted accreditation to a TV maker. The institute awards accreditation to products, webs

A video clip showing a potentially new dual screen smartphone model by LG Electronics is going viral online. According to a post made on technology blog Android Authority Wednesday, a near-final version of the temporarily-named “LG Wing” phone was spotted in action. The video shows that the Wing’s secondary screen can be rotated, making a T-shape formation. In the clip, navigation was running on the full-screen main display without a notch, while the second screen sho

When Apple released its iPhone 11 Pro Max last year, it was teased for having an induction cooktop-design camera module on the rear. But in a few months, its archrival Samsung Electronics came up with the Galaxy S20 Ultra, boasting a similar cooktop-like rear camera that offered a 108-megapixel lens and calling it the industry’s first. “It is difficult to buck the trend,” said a Samsung official at the time in response to a question about why the company risked critici

Samsung Display could commercialize its next-generation Quantum Dot displays for televisions as early as the third quarter of next year, according to a market researcher Monday. A report released by Omdia noted Samsung Display recently supplied prototypes of its QD displays for Samsung Electronics and Sony for use in TV manufacturing. The panel maker officially announced its switch from large-size liquid-crystal display panels to QD displays in October as it started converting the curren