South Korean stocks opened steeply lower Thursday, tracking overnight plunges on Wall Street that stemmed from rising tensions in Ukraine. The benchmark Korea Composite Stock Price Index (KOSPI) retreated 28.85 points, or 1.06 percent, to 2,690.08 points as of 9:15 a.m. Overnight, the tech-heavy Nasdaq composite tumbled 2.57 percent and the Dow Jones Industrial Average declined 1.38 percent as Ukraine declared a state of emergency and Washington said a Russian invasion of Ukraine remains imminen

LG Energy Solution acquires 100% share of NEC Energy Solutions, a non-automotive lithium-ion battery and system integration business Purchase strengthens LGES's ability to deliver fully integrated energy storage systems including installation, maintenance and operations support to enhance product performance SEOUL, South Korea, Feb. 17, 2022 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) announced Tuesday that it has completed the acquisition of NEC Energy Solutions, a

Foreign investors continued to purchase more shares than they sold in South Korea's stock markets for the third straight month in January, central bank data showed Thursday. Foreigners picked up a net $1.81 billion worth of local stocks last month, according to the data provided by the Bank of Korea. The amount, however, was halved from their net purchases in December of $3.69 billion, the data showed. Foreigners' net stock purchases here came despite the increased risk-averse tendency amid expe

LG Energy Solution Ltd. said Tuesday it swung to the black in the fourth quarter from a year earlier on the back of strong electric vehicle (EV) battery sales. Net income came to 71.8 billion won ($59.9 million) in the October-December period, compared with the 436.4 billion-won loss the previous year, South Korea's top battery maker said in a regulatory filing. Operating profit reached 75.7 billion won, a turnaround from the 479.1 billion-won loss. Sales rose 1.9 percent to 4.4 trillion won

As China plans to phase out subsidies for electric vehicles by 30 percent by the end of 2022 and completely eliminate them starting 2023, South Korean battery trio -- LG Energy Solution, Samsung SDI and SK On -- are bracing for potential impact. According to industry sources Wednesday, China’s U-turn on EV subsidies indicates its confidence about the local EV market‘s ability to survive without state support and its determination to sort out low-quality EV battery manufacturers.

One million used mobile phones were traded in 2021 on the AI-based MINTIT ATMs, being a record three times the last year's number Can be found in three major telecom stores in Korea accompanied by various campaigns e.g. marketing promotions linked with new mobile phone releases, "MINTIT has become a culture for used mobile phones when getting new ones." Plans ready for customer and social value enhancement based on digital technology as well as platform business stabilization

SEOUL, South Korea, Dec. 30, 2021 /PRNewswire/ -- Gyeonggi Content Agency announced that it would open a Gyeonggi Content Agency Hall and enhance the reputation of Korean startups at CES 2022 which is slated to be held both online and offline. The government agency also emphasized that it would aggressively advertise the hall across the country and around the globe against media, YouTubers, investors and buyers from around the world. CES, the world's largest consumer electronics

Apple released an update to its mobile operating system Thursday to fix dropped calls on iPhone devices, including the iPhone 12 and 13. The release of the iOS 15.1.1, an updated version of the iOS 15.1, fixes the call drop performance issue on the iPhone 12 and iPhone 13 as well as the usual bug fixes, U.S. online website Apple Insider said. iPhone 12 and iPhone 13 users have recently experienced consistent dropped calls on their devices, preventing them from receiving incoming calls. Apple

South Korea’s smartphone makers and subscription service providers are expected to face increasing competition from Google, as the tech giant is set to introduce a subscription-based bundle that includes a phone and various Google services, to lock more users into its ecosystem. According to industry sources Monday, Google is likely to launch the Pixel 6 and Pixel 6 Pro smartphones in the US on Tuesday, local time. It is also set to unveil a new subscription service, Pixel Pass, which bu

With Apple set to launch the iPhone 13 in South Korea in early October, Samsung Electronics appears under pressure to safeguard its share not only on its home turf, but also in the increasingly competitive global smartphone market. Korea’s major mobile carriers plan to accept preorders for the iPhone 13 from Friday, with the official release date slated for Oct. 8, heralding a new round of competition among smartphone makers, especially Samsung Electronics which holds a firm grip on the

SEOUL, South Korea, Sept. 27, 2021 /PRNewswire/ -- Immunoforge (Co-CEOs Sung-min Ahn, Kiho Chang), a company specializing in developing new drugs for rare musculoskeletal diseases, has reported that their new drug candidate PF1801 has received Orphan Drug Designation (ODD) from the U.S. FDA for the treatment of Polymyositis. The FDA designates solutions for rare incurable diseases or life-threatening diseases as Orphan Drugs. With this Orphan Drug Designation, Immunoforge will receive various

For South Koreans who were children in the 1970s and 1980s, the phrase “squid game” is likely to evoke a mix of thrills and nostalgia. The tag game on a squid-shaped board drawn in the dirt was fairly tough to play -- sometimes brutal to the point of causing injury -- but it remained hugely popular, as making it to the final goal area after physically clashing with those on the defense was nothing if not exhilarating. Hwang Dong-hyuk, the director of “Squid Game,” is no

LG Uplus Corp., a major South Korean mobile carrier, said Sunday it will offer Disney+ through its internet protocol television (IPTV) platform as the flagship streaming service from US media giant Walt Disney Co. is set to launch in the country in November. The carrier said it has signed a deal with Walt Disney Company Korea so that Disney+ will be accessible from its U+tv platform, strengthening competitiveness against rivals KT Corp. and SK Telecom Co. LG Uplus already bundles Netflix with it

The funding will help the company boost its product fleet through technological upgrades, expanding its global operation networks, optimizing its supply chain management and corporate structure as well as talent. SHENZHEN, China, Sept. 22, 2021 /PRNewswire/ -- HAI ROBOTICS, a Chinese warehouse robotics startup pioneering in autonomous case-handling robotics (ACR) system, announced that it has secured two new continuous rounds of financing, garnering US$2

Disney+, the US entertainment giant’s streaming service, is expected to land in Korea via LG U+ first, the smallest of the country’s three IPTV providers. Then, it may team up with KT, the largest of the three, to further expand its reach. Earlier, Disney officially announced the Nov. 12 launch of Disney+, with a monthly subscription fee of 9,900 won ($8.40). It, however, did not disclose who its local partner is, fanning market speculation that the two Korean telecommunications