Samsung Electronics is currently considering the acquisition of a portion of the automotive electronics business from Continental, a global automotive electronics company based in Germany. If the acquisition is finalized, it will mark Samsung’s first major merger and acquisition (M&A) in seven years
Patent applications originating from the Republic of Korea at the European Patent Office (EPO) grew by 21% last year, according to the EPO’s Patent Index 2023 published today. This was the highest growth rate among the 20 leading innovating countries, and more than five times the average growth at t
Despite the battery industry’s active efforts to recruit talent, it continues to face challenges with labor shortages. As a result, “smart factories,” which promise to solve these labor issues while also enhancing production efficiency, are gaining attention.According to industry sources on March 18
The growth of leading domestic companies in the medical AI field is becoming evident, as the number of clinical trial applications, approvals, and authorizations rapidly increases. Medical AI involves AI trained on various disease data, analyzing patients’ Computed Tomography (CT) scans or Magnetic
LG Electronics is expanding its content ecosystem beyond household appliances to mobility by installing its own OTT service, LG Channel, into Hyundai and Kia vehicles.According to the electronics industry on March 18, LG Electronics started the LG Channel service in Hyundai and Kia vehicles from Jan
With the unprecedented boom in the U.S. stock market since the beginning of this year, domestic individual investors have poured 4 trillion won (US$3 billion) into direct stock investments abroad, surpassing four times the amount invested during the same period last year. Securities firms are also r
A huge wave that began with Chinese e-commerce platform AliExpress is now on the horizon, making it to more difficult to predict the future of the Korean e-commerce market.While Korean e-commerce players are competing fiercely for survival, the United States, China, and other Asian countries have jo
The National Pension Service (NPS) has come out against the reappointment of Cho Won-tae, president and chairman of Korean Air, as an inside director, sparking interest in the reasons behind the move.According to the aviation industry on March 17, the NPS’s Fund Management Committee is expected to v
Attacks on Samsung Electronics by patent trolls are becoming increasingly cunning. These entities are focusing on purchasing patents with broad scopes that can be applied to various products and then targeting companies that release related products. Among global information technology (IT) companie
Samsung Electronics is projected to relinquish its leading position in the global foldable phone market share to Chinese rival Huawei in the first half of this year.According to market research firm DSCC on March 14, the global shipment of foldable phones in the fourth quarter of last year totaled 4
Chinese e-commerce giant Alibaba Express announced a consumer protection policy on March 14 that offers unconditional returns and refunds within 90 days for cross-border online purchases. Additionally, it has officially launched a customer service hotline and plans to invest about 1.5 trillion won o
After the Korean government has announced a strategy to secure 33 key minerals used in high-tech industries, including lithium and graphite, by reducing its dependence on China to 50 percent by 2030, Korea’s dependence on China for some key items began to shrink in 2023.Korea’s lithium hydroxide imp
Following their competition in integrated washing and drying machines, Samsung Electronics and LG Electronics are now launching AI TVs, sparking another pride battle. On-device AI, which operates AI within the device without a network connection, is rapidly spreading to TVs.On March 13, Samsung Elec
A medical waste treatment system, which is capable of 99.9999 percent sterilization by using high-temperature and high-pressure steam, has been developed for the first time in the country.The Korea Institute of Machinery and Materials (President Seog-Hyeon Ryu, hereinafter referred to as KIMM), an i
Hyundai Motor Group will launch a large-scale electric vehicle recall. It is the largest voluntary recall in three years since the automaker entered the market with an electric vehicle-only platform (E-GMP) in 2021. Hyundai and Kia will replace faulty integrated charging control units (ICCUs) in som
POSCO International has embarked on expanding its electric vehicle component business by signing a contract worth 1.16 trillion won (US$882.46 million) for the supply of rare earth permanent magnets for electric vehicles.The company announced on March 12 that its U.S. subsidiary has recently secured
The number of subscribers to employment insurance increased compared to the same period last year, but the growth was primarily driven by an increase in foreign nationals. As a result of population decline, subscribers in their 20s and 40s have been decreasing for 17 and 4 consecutive months, respec
Doosan Enerbility is participating in Saudi Arabia's largest combined cycle power plant project.The company announced on March 11 that it has signed a contract with SEPCO-3 to supply equipment for the Taiba 1 Integrated Cycle Power Plant and Qasim 1 Combined Cycle Power Plant in Saudi Arabia. With t
LG Group has decided to embark on joint AI research and development with The Jackson Laboratory, a world-renowned genome research institution based in the United States, to unlock the secrets of Alzheimer’s disease and cancer.LG AI Research and The Jackson Laboratory have signed a recent contract fo
Incheon Metropolitan City and Shinhan Bank announced that they have signed a memorandum of understanding (MOU) at the Incheon City Hall meeting room on March 11 to secure the hosting of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea in 2025.At the signing ceremony, Mayor of Inche