LG Electronics has developed an innovative in-vehicle camera system that can recognize the driver and other passengers and detect their gestures and finger movements. The company believes that its patented technology can be linked to autonomous driving, augmented reality (AR) and virtual reality (VR
Automotive News reported on Dec. 20 that the 10 largest investment projects announced this year in the automotive industry of North America are related to the electric vehicle industry without exception, the top five include four of South Korean automakers and EV battery manufacturers, and the four
The Korea Research Institute for Defense Technology Planning and Advancement announced on Dec. 20 that South Korea was the ninth-largest weapon exporter in the world from 2016 to 2020, when the top six were the United States, Russia, France, Germany, China and the United Kingdom.“From 2016 to 2020,
The Ministry of Culture, Sports and Tourism and the Korea Creative Content Agency announced on Dec. 20 that sales of Korea's game industry increased 21.3 percent to 18.8855 trillion won last year and exports from the industry increased 23.1 percent to 9.6688 trillion won in that period.The perfo
A test has found that Samsung Electronics’ Galaxy smartphones are faster than Apple’s iPhone 12 in download speed.Ookla, an internet speed measurement site, said on Dec. 20 it conducted a speed test on major smartphone models used in Korea in the third quarter of 2021 and found that the Galaxy S21 U
Samsung Electronics is pumping up efforts to expand its presence in the electric vehicle semiconductor market.The company is planning to release semiconductors for next-generation self-driving cars to be supplied to Tesla in the first week of January next year. Industry experts expect the chip to go
U.S. Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez visited South Korea on Dec. 15. He attended the sixth Senior Economic Dialogue of the United States and South Korea on Dec. 17.He stayed in South Korea for three days. He visited the Ministry of Foreign Aff
The Korea Enterprises Federation said in its report on Dec. 16 that the Act on the Punishment of Serious Accidents scheduled to become effective on Jan. 27 is excessive on the part of employers and policies for preventing industrial accidents will be more effective than the act.In the report, the fe
The Federation of Korean Industries announced on Dec. 16 that South Korea’s product market regulation (PMR) index is the sixth-highest in the OECD and this means PMRs in South Korea are relatively tighter.The index was made by the OECD and the organization updates it every five years by conducting s
Ookla said on Dec. 16 that the Samsung Galaxy S21 Ultra (5G phone released this year) has a median download speed of 221.18 Mbps, that of the Galaxy Note 20 Ultra (5G phone released last year) is 199.91 Mbps, and 122.17 Mbps is that of the Galaxy Note 10+, which was released in 2019 at the beginning
Forbes, a U.S. economic magazine, has selected Kim Byung-ju, chairman of MBK Partners, as one of the 15 Asian philanthropists.Forbes paid attention to Kim’s vision for education, as he contributed 30 billion won from his own pocket this year to the construction of a public library. This marked the f
Intel CEO Patrick Gelsinger and TSMC CEO Mark Liu are expected to have a meeting to discuss their business in the foundry sector. The two companies recently argued over the CHIPS for America Act related to subsidies for semiconductor companies. Samsung Electronics is paying close attention to the re
SK Inc., the strategic investment arm of South Korea’s SK Group, announced on Dec. 16 that it has invested US$50 million in Fulcrum BioEnergy Inc., a U.S.-based waste-to-fuels company, jointly with a Korean private equity fund.Fulcrum is the first company in the U.S. to produce biofuel on a commerci
The Ministry of Science and ICT announced on Dec. 15 that South Korea’s total R&D investment was approximately 93 trillion won last year. “It is the fifth-largest volume in the OECD and South Korea’s R&D investment-to-GDP ratio was 4.81 percent in 2020, second only to Israel” it said, adding, “The r
The South Korean government is considering joining the U.S. alliance in the steel industry against China. The United States is urging its allies to do so in order to curb China’s influence in the industry.At present, the Ministry of Trade, Industry and Energy and the Department of Commerce of the Un
Hyundai Motor Group (HMG) received a record number of awards and accolades from experts at opinion-leading international media titles in 2021, the group announced on Dec. 15.All three of HMG’s automotive brands – Hyundai Motor, Kia and Genesis – have been recognized by the world’s most respected jou
LG Energy Solution announced on Dec. 14 that it has signed a memorandum of understanding (MOU) with Siemens to turn its battery plants around the world into smart factories.On hand at the signing ceremony were Kwon Young-soo, vice chairman of LG Energy Solution, and Cedrik Neike, a member of the boa
Moderna's COVID-19 vaccines produced by Samsung Biologics have obtained approval from the Korean Ministry of Food and Drug Safety. This means that the vaccines can be sold at home and abroad.The approved product is Spikevax, which is administered in the form of an injection. It is the first dome
The Ministry of Science and ICT announced on Dec. 14 that Korea's exports and imports in the information and communications technology (ICT) sector reached US$21.49 billion and US$12.76 billion, respectively, last month, posting a trade surplus of US$8.73 billion.Last month, Korea's ICT expo
The Committee on Foreign Investment in the United States (CFIUS) thwarted Wise Road Capital’s acquisition of MagnaChip. The semiconductor manufacturer announced on Dec. 13 that its stock sale agreement with the Chinese private equity firm was cancelled that day.This case is a clear example of how di