LG Chem announced Friday it will appoint Shin Hak-cheol, vice chair of 3M, as new vice chairman and CEO of the company. This marks the first time that LG Group has scouted an outside figure to head the chemicals and battery affiliate since its founding in 1947. “With global perspectives and experience, Shin is the right person capable of pre-emptively responding to the rapidly changing business environment while leading the change in corporate culture and structure,” LG Chem said in a statement.

Samsung Electronics on Thursday revealed technological details of its first foldable display for next-generation smartphones at a conference in San Francisco for technology developers from around the world.The South Korean tech titan unveiled a prototype of a foldable smartphone featuring the Infinity Flex Display during the two-day Samsung Developer Conference. When it is unfolded, the as-of-yet-unnamed smartphone is 7.3 inches, and 4.58 inches when folded in half. The prototype looked as if tw

LG Electronics has created another category for home appliances combined with furniture by launching a new brand Objet on Thursday, which the company defined as being premium and private.The LG Objet brand lineup consists of four items -- refrigerator, air purifier, audio and TV -- designed for consumers who want to put them in their private spaces like their bedrooms.To introduce the brand as one for converging electronics with furniture, the company adopted wood and steel as the main materials

Samsung Electronics achieved its largest quarterly operating profit in the third quarter this year, exceeding 17 trillion won ($14.9 billion) for the first time, owing to consistent robust sales of semiconductors, according to its earnings announcement Wednesday. The South Korean tech giant posted 65.46 trillion won in consolidated revenue in the third quarter, up 5.5 percent from a year earlier, and 17.57 trillion won in operating profit, up 20.9 percent. (AFP)The third-quarter operating profit

South Korea’s flagship red ginseng drink Hong Sam Won from Cheong Kwan Jang is not only the oldest of its kind, but also the longest-running leader, maintain its top spot for 30 years. Backed by such consistent popularity and the proven quality of the red ginseng drink, Hong Sam Won has been exported worldwide, particularly proving popular in the United States and China. The drink had been sold mainly at Korean supermarkets in the US until 2014. Its distribution began stretching out to Costco in

Samsung heir Lee Jae-yong departs for Hanoi at Seoul Gimpo International Airport on Tuesday. (By Song Su-hyun / The Korea Herald)Lee Jae-yong, heir and vice chairman of Samsung Electronics, on Tuesday left for Hanoi with a scheduled meeting with the Vietnamese prime minister, possibly on making new investments in the country. The Samsung heir’s two-day visit to Vietnam is expected to serve as a critical chance for the tech titan to mainly revise its smartphone business, the competitiveness of wh

이재용 삼성전자 부회장이 30일 베트남 하노이로 출국했다. 이 부회장은 이날 오전 10시 서울 강서구 김포국제공항을 통해 하노이로 향했다. 이재용 삼성전자 부회장이 30일 출국 전 취재진 질의에 답하고 있다.삼성전자의 스마트폰 및 가전 생산기지를 둘러볼 일정인 이번 출장에는 이동훈 삼성디스플레이 사장이 동행했다. 　하노이에 도착한 이 부회장은 첫 일정으로 응우옌쑤언푹 베트남 총리를 만나 현지 사업에 대한 협조를 부탁할 것으로 알려졌다. 　삼성전자 하노이 법인에서 근무 중인 한 관계자는 “이 부회장의 방문을 준비하기 위해 분주하게 움직이고 있다”고 전했다.　이 부회장의 베트남 총리 면담은 삼성이 베트남에 공장 증설 및 투자 확대를 준비중이라는 추측을 낳고 있다. 　일각에서는 삼성이 조만간 중국 톈진공장을 철수하는 대신 베트남에 세 번째 스마트폰 공장을 짓는 방안을 검토 중인 것으로 알려졌다.    베트남 정부와 삼성과의 관계는 남다르다. 2014년 응우옌푸쫑 베트남 공산당 서기장은 삼

Woongjin Group, a midsized South Korean conglomerate, will take back the country’s biggest small home appliance maker, Coway, after selling it off in 2013, the group announced Monday. In its regulatory filing, Woongjin said a consortium comprising Woongjin Thinkbig Co. and STIC Investment Inc. will purchase a 22.17 percent stake in Coway Holding for 1.68 trillion won ($1.48 billion) in a bid to diversify the group’s business portfolio. “I believe the rental business has great growth potential,”

Tech Brunch breaks down how complex technologies work. -- Ed.DAEJEON -- In search of technologies beneficial for mankind, the nation’s fourth-biggest conglomerate LG Group has focused its research and development capabilities since 2010 on improving water, energy and air. And LG Chem, the group’s battery and petrochemicals unit, has been a crucial part of that mission. “Back then, LG came up with a whole new business out of the mission to improve the quality of water by using its technological p

SK Telecom said Friday the mobile carrier will acquire SK infosec, an information security subsidiary of SK Group, through a comprehensive stock exchange. SK infosec is the country’s biggest data security solution provider with around 200 billion won ($175 million) in annual sales. The company is the first Asian business to join the Cyber Threat Alliance of global security firms. (Yonhap)SK Telecom will exchange some 1.6 percent treasury stocks with a 100 percent stake in SK infosec, and will in

SK hynix recorded another record-breaking operating profit in the third quarter of this year, but the chipmaker might scale back its investments next year, the company’s chief financial officer said during a conference call Thursday. “The investment plan for next year hasn’t been confirmed yet,” said CFO Lee Myoung-young. “But considering the global economic uncertainties and inventories, the amount of capital spending is expected to decrease.” The company had expanded investments for this year

LG Display, the world’s No. 1 organic light-emitting diode panel maker, said Wednesday it achieved the first surplus from selling OLED panels since 2013 for the August-October period this year. According to its third-quarter earnings report, the panel maker recorded 6.1 trillion won ($5.39 billion) in sales and 140.1 billion won in operating profit. An 8K OLED panel is displayed at Korea Electronics Show 2018 at Coex in southern Seoul on Wednesday. (LG Display)Owing to increases in prices of liq

A total of 729 tech companies from 15 countries participated in the 2018 Korea Electronics Show that kicked off Wednesday, showcasing how technological collaboration among different industries can bring about changes to consumers’ everyday life with innovative products. The KES is the biggest information technology show taking place every October in Seoul, inviting thousands of tech industry officials, analysts and media outlets to introduce the latest trends in the tech world and showcase new t

Samsung Electronics and its affiliates will engage in a groupwide campaign to reduce use of plastics and disposables at the workplace to join global moves of cutting plastic consumption and protect the environment, the company said Tuesday. The electronics unit said the current campaign at the company, Samsung SDS and Samsung Electro-Mechanics will be expanded to Samsung Display, Samsung SDI, Samsung C&T and Hotel Shilla. At the affiliates’ cafeterias, plastic and vinyl materials for takeout foo

LG Chem broke ground for an electric vehicle battery plant in Nanjing, China, its second EV battery production facility, to aggressively expand into the Chinese market, the company announced Tuesday. The new three-story factory will be built on a 200,000 square meter plot in the Binjiang Economic Development Zone, with a plan to start operations late next year. The company will inject a total of 2.1 trillion won ($1.9 billion) into the new facility by 2023 with an aim to secure an annual capacit

Models showcase Samsung Electronics’ new laptop “Flash” with a fast internet speed and a retro-style keyboard at an event held at Pier59 Studios in Seoul on Monday. (Samsung Electronics)Samsung Electronics is working on development of new form factors of laptops, including one with foldable display, as part of its efforts to innovate personal computer products in line with the changing market for mobile devices, a company official said during a showcase event for the latest laptop Flash on Monda

Samsung Electronics is making deals and announcing new activities in target business areas wherever its de facto leader goes, though the company refuses to confirm any connection between the two.The itinerary of Lee Jae-yong’s latest trip seems to be closely connected to the South Korean conglomerate’s new business interests -- mainly artificial intelligence. Lee is the vice chairman of Samsung Electronics and the only son of Chairman Lee Kun-hee who has been in hospital since suffering from a s

KT will start providing real-time subtitles in eight languages for its internet protocol TV service Olleh TV, starting Monday, to better serve foreign-born customers in South Korea, the mobile carrier said Sunday. Multilingual subtitling will be offered for four news channels and will feature subtitles in English, Japanese, Chinese, French, Spanish, Vietnamese and Uzbek.  Foreign models pose ahead of the introduction of a real-time multilingual subtitling service for KT’s Olleh TV. (KT)KT unveil

Samsung Electronics announced Thursday it will start wafer production of the 7-nanometer Low Power Plus with extreme ultraviolet lithography technology at a tech day event held in Silicon Valley. Samsung Tech Day is an annual event to announce the chipmaker’s technology road map and introduce the newest semiconductor solutions for its enterprise clients. The foundry technology using extreme ultraviolet, or EUV, known as the most advanced process technology, enables the use of a single mask to cr

LG Electronics appears to be on course to ramp up its drive for the development of autonomous driving with an aim to debut its first artificial intelligence-based self-driving solution at the 2019 Consumer Electronics Show, according to the industry on Thursday. The South Korean electronics manufacturer’s Chief Technology Officer Park Il-pyung will deliver a keynote speech at CES about the newest technologies under development by LG, which includes its AI-powered navigation system, according to