China’s Huawei Technologies opened its first 5G open lab in Seoul on May 30 amid mounting anti-Huawei pressures from the U.S. government. Huawei plans to invest about US$5 million in the lab, using it as a base for its expansion into the 5G market in Asia.Huawei held an opening ceremony for the lab
Samsung Electronics has emerged as the No. 1 player in the 5G telecom equipment market amid a global anti-Huawei campaign.Samsung Electronics ranked first with a 37 percent market share in the first quarter of this year, said a recent report by Dell’Oro, a research company specializing in the commun
LG Electronics announced on May 29 that it has appointed Dr. Darin Graham, a world-class artificial intelligence specialist, as the director of its AI lab established in Toronto, Canada, last August. Graham, a founding member of the global AI research institute Vector Institute in Toronto, has worke
Hyundai Motor's compact sports utility vehicle (SUV) Tucson has beat GM Korea's Trax to become Korea's No. 1 export car model.Hyundai Motor exported a total of 83,579 units of the Tucson by April this year, according to the Korea Automobile Manufacturers Association (KAMA). This was the
Samsung Electronics' quantum dot light-emitting diode (QLED) TV sales have exceeded those of top five organic light emitting diode (OLED) TV manufacturers for three consecutive quarters.Samsung's QLED TV sales totaled 896,400 units in the first quarter of this year, dwarfing the combined sal
An undersupply of electric vehicle (EV) batteries is occurring as more and more automakers are entering the EV market. The carmakers are trying to secure the largest possible number of EV batteries so that their production plans are not affected whereas EV battery manufacturers have already reached
Market research firm IHS Markit reported on May 29 that global semiconductor sales totaled US$101.2 billion in the first quarter of this year with a year-on-year decline of 12.9 percent, the steepest decline since the second quarter of 2009.The rapid decline can be attributed to a slump in the globa
With the U.S.-China trade war ongoing, an official at the National Development & Reform Commission of China said during his interview with Xinhua News Agency that attempts to suppress the economic growth of China by using products based on rare earth elements exported from China will make Chinese pe
Aekyung Group, a Korean cosmetics-to-health care conglomerate that owns low-cost carrier Jeju Air Co., is entering a bidding battle for Asiana Airlines Inc.Recently, the group has disclosed its intention to take over the financially troubled full-service carrier, while major business groups, such as
Samsung Electronics is expected to launch the foldable smartphone “Galaxy Fold” after this June. The company is carrying out network interworking tests after supplying samples of the foldable phone to mobile carriers. With this news coming out, a majority of experts speculated that the Galaxy Fold w
Samsung Electronics has been releasing new non-memory products one after another since it declared its plan to grow into the world's No. 1 maker of system semiconductors by 2030.On May 28, Samsung Electronics took the wraps off power delivery controller semiconductors, MM101 and SE8A, which supp
Major Korean business groups such as Samsung, SK and LG are unlikely to participate in the anti-Huawei campaign for the time being. They are taking a more cautious approach to the U.S. request for participation in the campaign as they think that it is not a matter for individual companies to decide.
Competition is heating up among Korea’s top four business groups -- Samsung, Hyundai Motor, SK, and LG -- to preempt the "e-mobility" market.SK Innovation, a major affiliate of SK Group, said on July 27 that it was discussing cooperation with various business partners to expand its electric vehicle
The price of Bitcoin has recovered to the 10 million won (US$8,435) range.The rebound is attributed to an increasing number of investors injecting money into cryptocurrencies amid increased variability in the global economy and global companies' moves to bring the virtual coin into the financial
As Google Inc. has suspended Huawei Technologies Co.’s access to its Android operating system (OS) services, Samsung Electronics Co. is moving to benefit from it. The South Korean electronics giant has recently launched promotional activities in Singapore to absorb Huawei smartphone users.If Google
Lou Qinjian, Chinese Communist Party secretary of Jiangsu Province, visited the main office of Hyundai Motor Group on May 27 and had a meeting with Kia Motors president Park Han-woo to discuss the operation of the automaker’s plant located in Yancheng. At present, Kia Motors is conducting restructur
Work to establish an investment fund to help Korean battery companies solidify their lead in the global market has virtually come to a deadlock. LG Chem and SK Innovation, which should take the initiative in establishing the fund, are currently at loggerheads over trade secrets.In November last year
Samsung Electro-Mechanics is focusing on multi-layer ceramic capacitors (MLCCs) for vehicles to fill the vacuum to be left by the planned transfer of its highly lucrative panel level package (PLP) business to Samsung Electronics.PLP is an advanced chip packaging solution that packages a large number
The Korea Fintech Week 2019 opened at Dongdaemun Design Plaza (DDP) on May 23 for a three-day run, showcasing the latest innovations by Korean fintech companies. The event is jointly organized by the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) to improve public aw
Global demand for electric vehicle (EV) batteries will far exceed supply starting in 2023, according to market research firm SNE Research.Currently, EV battery manufacturers are not making money, but they will be able to make a huge profit four years later.The global EV battery market is experiencin