Fairfax County development chief courts Korean innovators at CES

Korea Herald Correspondent LAS VEGAS -- Las Vegas teemed with global innovation at this year's CES trade show, and Victor Hoskins, CEO of the Fairfax County Economic Development Authority, seized the opportunity to deepen ties with Korea, a key partner for his municipality. Fairfax County, Virginia, already hosts over 80 Korean companies, making Korea the country with the largest business presence in the jurisdiction, located just outside Washington, DC. “Our county’s relationship with Korea spa

Jan. 10, 2025

LG Chem expands into Thai beauty market with new skin booster

LG Chem announced Friday the launch of its new injectable skin booster, HP Vitaran, in Thailand, marking its latest move to strengthen its presence in Southeast Asia’s rapidly growing beauty market. HP Vitaran is formulated with polynucleotide, a regenerative, gel-like substance designed to improve skin texture and elasticity. Unlike topical skincare products, the treatment is injected directly into the skin, offering deeper, more visible and long-lasting results, the company said. The launch bu

Jan. 10, 2025

Cars reading minds: Harman ramps up personalized driving experience with AI

Partnership with Samsung key strength in taking on rivals Korea Herald correspondent LAS VEGAS -- Your face is tense and your eyelids droop slightly as you drive to work in the early morning. As drowsiness creeps in, Luna, an AI-powered in-vehicle voice assistant, appears on the heads-up display and asks, "Do you want to stop by a cafe to get a cup of coffee?" You reply, "Sure, I need my latte." Immediately, the Aura Lighting adjusts the interior lights to create a refreshing morning vibe and yo

Jan. 10, 2025

Will Alibaba give Shinsegae a fighting chance against Coupang?

Shinsegae Group recently unveiled a strategic partnership with Chinese tech giant Alibaba, valued at approximately 6 trillion won ($4.5 billion), aiming to rejuvenate its struggling e-commerce platform, Gmarket. Despite its dominance in brick-and-mortar retail market, such as the popular Emart stores, Shinsegae has struggled to secure a significant share of the nation's booming e-commerce sector, where its smaller rival Coupang holds a commanding lead. Announced on Dec. 26, the partnership invol

Jan. 10, 2025

[Photo News] Korea-US partnership in focus

National Assembly Speaker Woo Won-shik (left) shakes hands with American Chamber of Commerce in Korea Chairman and CEO James Kim during a special meeting held at the National Assembly in Yeouido, Seoul, Friday. Woo expressed appreciation for AmCham's role as a vital bridge between the trade and economies of the two nations and pledged to support efforts to enhance their future economic cooperation. Kim emphasized AmCham's commitment to ensuring the long-term stability of the Korean economy and h

Jan. 10, 2025

SK hynix, SK Telecom join forces with Penguin Solutions for AI data centers

SK hynix and SK Telecom said Friday they have formed a strategic partnership with US artificial intelligence computing company Penguin Solutions to promote joint research and development and business of AI data center solutions. The trilateral agreement, signed on the sidelines of CES 2025 in Las Vegas, focuses on jointly developing and commercializing innovative solutions for AI data centers while exploring new markets, according to two SK affiliates. Penguin Solutions is a leading company spec

Jan. 10, 2025

LG Energy signs 7-year battery supply deal with US EV startup

LG Energy Solution Ltd., South Korea's leading battery maker, said Friday it has signed a seven-year battery supply deal with US electric vehicle startup Aptera Motors Corp. LG Energy signed a three-way agreement with Aptera Motors and Korean battery pack maker CTNS to provide the US company with its cylindrical batteries from 2025 through 2031, totaling 4.4 GWh, the company said in a press release. LG Energy's cylindrical lithium-ion batteries will be installed in the US firm's solar EV, named

Jan. 10, 2025

MBK's takeover bid for Korea Zinc faces renewed foreign control debate

US president's decision to block Japanese company’s acquisition of US Steel due to national security concerns leads to second thoughts Equity fund firm MBK Partners’ bid to take over Korea Zinc has persistently heightened concerns about the leakage of national core technologies that the world's largest zinc smelter holds. With MBK, in partnership with Young Poong, Korea Zinc's largest shareholder, having been raising the ante to obtain the management rights of Korea Zinc in a monthslong battle w

Jan. 9, 2025

Samsung Biologics, LigaChem to develop next-gen cancer therapies

Samsung Biologics announced Thursday that it has signed a memorandum of understanding with LigaChem Biosciences to collaborate on the development of antibody-drug conjugates, with plans to launch at least three joint projects this year. ADCs, often referred to as guided missiles for their precision, use targeted antibodies to deliver cancer-fighting drugs directly to cancer cells, offering higher effectiveness than traditional therapies while minimizing harm to healthy cells. Under the agreement

Jan. 9, 2025

Soju in Russia: A new rivarly between two Koreas?

Pyongyang may take cue from growing popularity of S. Korean soju overseas For many around the world, soju is a symbol of South Korea's drinking culture. Yet, given its origins predating the division of the Korean Peninsula, this iconic distilled spirit counts another country as one of its original producers today: North Korea. Soon, Russia may see soju from both Koreas sharing shelf space, a close ally of North Korea and a market already penetrated by South Korean liquor companies. According to

Jan. 9, 2025

We develop Nvidia chips faster than demand: SK chief

Chey Tae-won meet with Nvidia CEO to discuss possible collaboration on physical AI Korea Herald Correspondent LAS VEGAS -- SK hynix’s development pace of its popular AI memory chip has surpassed Nvidia’s demands, and their collaboration is going smoothly, SK Group Chairman Chey Tae-won said Wednesday. Hosting a press conference on the sidelines of CES 2025, the world's largest tech show, Chey confirmed that he met with Nvidia founder and CEO Jensen Huang and discussed many issues, including movi

Jan. 9, 2025

AmCham, Gyeonggi Province committed to Korea-US cooperation

Discussions revolve around strengthening bilateral partnership and ensuring business continuity amid uncertain times The American Chamber of Commerce in Korea held a special meeting in Seoul on Wednesday with Gyeonggi Province to discuss strategies for fostering economic cooperation and strengthening bilateral ties between South Korea and the US. The session, led by AmCham Chair and CEO James Kim and Gyeonggi Province Gov. Kim Dong-yeon, focused on investment opportunities and initiatives to enh

Jan. 9, 2025

LG Electronics has playbook to handle Trump tariffs: CEO

Tech giant renews robotics vision for 'labor-free' home Korea Herald Correspondent LAS VEGAS -- As US President-elect Donald Trump's second term is set to kick off this month, LG Electronics CEO Cho Joon-wan said the company has already came up with a "playbook," a set of response measures to policy changes under different scenarios. "When President Trump assumes office and imposes tariffs or similar measures, we are prepared to adapt. We have our own playbook, that outlines specific methods for

Jan. 9, 2025

CJ's bakery franchise to open 1st outlet in Malaysia in H1

CJ Foodville Corp., the restaurant arm of food and entertainment conglomerate CJ Group, said Thursday its bakery franchise Tous les Jours will open its first outlet in Malaysia in the first half of this year. CJ Foodville has signed a master franchise contract with local retailer Stream Empire Holdings Sdn Bhd to expand the bakery outlets in the Southeast Asian country, the company said in a press release. Under a master franchise deal, the master franchisor allows the master franchisee not only

Jan. 9, 2025

Samsung's Harman unveils 'automotive intelligence' technologies

Harman International, a wholly owned automotive and audio subsidiary of Samsung Electronics Co., on Wednesday unveiled its new "automotive intelligence" technologies at CES 2025, aiming to deliver personalized in-cabin experiences through advanced intelligence and contextual awareness. "The automotive industry is rapidly transitioning to software-defined vehicles, with cars evolving into smartphones on wheels," Samsung Electronics Vice President Yoon Jun-o told reporters during a press event at

Jan. 9, 2025