MUNICH -- Korean tech giant LG Electronics made its debut at a major global automotive trade show on Monday, delivering its ambition to expand its presence in the burgeoning mobility industry. In its first-ever press conference at IAA Mobility, one of the world's largest motor shows, held in Munich, LG CEO Cho Joo-wan defined the role of personal vehicles and underscored the growing presence of software in the mobility industry. “LG has spent close to 70 years directly selling to indi

Industry Sept. 4, 2023

MUNICH -- LG Magna e-Powertrain, a joint venture between LG Electronics and Magna, will build its first European production plant in Hungary, the company announced Monday at the IAA mobility trade show held this week in Munich. The 26,000-square-meter facility will be located within an industrial complex in Miskolc, a city in northeastern Hungary, adjacent to other Magna facilities and manufacturing clients in the region. With the construction set to be completed in 2025, the new plant will st

Industry Sept. 4, 2023

BERLIN -- Samsung Electronics revealed it is developing a new neural processing unit chip for home appliances featuring artificial intelligence, to support them to run on ultra-low energy, at this year's IFA, held in Berlin. With the goal of making smarter home appliances, the tech giant will also adopt generative AI technology for Bixby, its voice assistant, the Korean tech giant said. "The AI home appliances we envision should be closely connected with each other, and make the best d

Industry Sept. 4, 2023

BERLIN -- While the global TV market struggles to move beyond the COVID-19 pandemic, Samsung Electronic said it will strengthen its leadership in making larger and more higher-end TVs, as the market for them shows a trend of continuous growth. "While the TV market has been stagnating for the past several years now, the market for larger and higher-end TVs continues to grow and Samsung is leading the market, outpacing its rivals by far," Chung Kang-il, executive vice president at Sams

Industry Sept. 3, 2023

BERLIN -- LG Electronics expressed ambitions to go global with its smart home solutions, including its built-in kitchen package and energy-efficient prefabricated housing technology at this year's IFA in Berlin, one of the world's largest consumer appliance trade shows. "We will integrate all our innovative home appliance and energy technologies and other upgradable appliances to offer a smart home solution," Lyu Jae-cheol, head of the Home Appliance & Air Solution Compan

Industry Sept. 3, 2023

BERLIN -- LG Electronics will sharpen internal competence and come up with innovative ideas to widen the gap with Chinese rivals in addition to fostering technological prowess, the head of the tech giant's TV business said Saturday. "It is important to lead the market with new ideas (in the TV industry). You have to break away from the competition with panels, where anyone can make the same product as you when they have the display panel," Baek Sun-pil, head of TV products plann

Industry Sept. 3, 2023

At this year’s IFA, Europe’s biggest home appliances trade show, two of South Korea’s tech giants, Samsung Electronics and LG Electronics, are set to showcase their latest premium products that maximize energy efficiency As the IFA celebrates its 99th anniversary this year, about 2,290 companies in the fields of IT, consumer appliances and telecommunication will take part from 50 countries. The five-day event, which kicks off in Berlin on Friday, will see 174 Korean companies t

Industry Aug. 31, 2023

Chipmakers around the world are competing fiercely not just to roll out more advanced chips faster than their rivals, but also to secure more tech talent as governments race to build up their chip industry as national security assets. South Korea, home to the world’s top two memory chipmakers, Samsung Electronics and SK hynix, is no exception. Amid their big push for global expansion, the tech giants are struggling to meet staffing needs for their billion-dollar facilities at home and abro

Industry Aug. 30, 2023

Samsung Group is a "massive aircraft carrier" and so it needs a control tower for better efficiency and unity, the chief of the tech giant's compliance committee said in an interview with a local news outlet on Aug. 23. "A small sailing boat does not need a control tower, but Samsung is a giant aircraft carrier. Unless the company’s different divisions completely divide to stand on their own, the lack of a control tower can lead to problems in efficiency and unity,&rd

Industry Aug. 27, 2023

진행자: 조혜림, Naomi Ng 1. [Weekender] 'Old money' rises as the new black in fashion 기사요약: 부자들의 패션 ‘올드머니룩’이 새로운 유행이다. 과시보단 기본에 충실하지만 좋은 소재, 모양 등 디테일에 주목한 아이템들로 꾸미는 스타일이다. [1] Old money refers to wealth that is deeply rooted in tradition, or wealth that is inherited rather than acquired through personal earnings. In this regard, the idea behind the old money look means looking like someone who comes from generational wealth. *rooted: ~에 뿌리(근원)을 둔 *inherit: 상속받다, 물려받다 *acqu

Podcast Aug. 24, 2023

Samsung Electronics said Thursday it would be launching a new food platform application offering personalized recipes and diet plan services using artificial intelligence at this year’s IFA, set to be held in Berlin early next month. The new platform, Samsung Food, would integrate all the food-related functions and services Samsung has launched previously, such as Family Hub’s Smart Recipe, the company said. Using the app, the users can search for recipes of dishes around the world

Industry Aug. 24, 2023

President Yoon Suk Yeol tapped Bang Moon-kyu, the existing government policy coordination minister, as the new minister for trade, industry and energy, his office said Tuesday. Born in 1962, Bang, a finance expert, passed the civil service exam in 1984, before spending most of his career as a public servant in the finance ministry and in the field of budget planning. Before being appointed as the policy coordination minister last year, he served as the head of the state-run Export-Import Bank

Industry Aug. 22, 2023

South Korean chipmaker SK hynix announced Monday it has successfully developed HBM3E, the next generation top performing DRAM chip for artificial intelligence applications. The chipmaker also said its customer is evaluating the sample of the new product. High Bandwidth Memory is a high-value, high-performance memory that vertically interconnects multiple DRAM chips, enabling a dramatic increase in data processing speed in comparison to earlier DRAM products. HBM3E is the extended version of the

Industry Aug. 21, 2023

Samsung Electronics, the world’s largest memory chip maker, has forged a partnership with Groq, a US-based artificial intelligence inference systems provider, securing the first chip order for its semiconductor fab currently in construction in Texas. Groq revealed in a press release on Monday (US time) that it has established ties with Samsung Foundry to be its “next-gen silicon partner,” saying the collaboration will support the company’s growth to consistently “ou

Industry Aug. 16, 2023

Samsung Electronics sold a portion of its stakes in Dutch chip equipment maker ASML and secured 3 trillion won ($2.24 billion) in cash, the company reported in its semi-annual report Monday. In the report, the world’s No. 1 memory chipmaker reported that it held 2.75 million shares in ASML stocks, equivalent to 0.7 percent, at the end of June, down from the 1.6 percent or 6.29 million shares from the end of March this year. In selling its shares, Samsung appears to have secured significant

Industry Aug. 16, 2023