LG CNS posts record Q1 earnings on cloud, AI growth

Korean IT solutions provider LG CNS said that on Monday, it achieved its highest-ever first-quarter sales and operating profit, driven by the accelerating adoption of cloud and artificial intelligence solutions across industries. Its first-quarter sales reached 1.21 trillion won ($840 million), an increase of 13.2 percent compared to a year earlier. Operating profit came in at 78.9 billion won, up 144.3 percent from a year ago. The IT solutions provider said its sales have continued to grow stea

April 28, 2025

Naver, Kakao bolster map services to counter Google’s data export push

As Google seeks regulatory approval to export high-precision map data from Korea, local IT giants Naver and Kakao are ramping up their efforts to reinforce their map services -- both in functionality and user experience -- in a strategic push to defend their home turf. “Google appears to be taking an aggressive stance. Coupled with the trade tensions sparked by the Donald Trump administration in the US, the situation has become challenging for local companies. Domestic map application developers

April 27, 2025

SKT apologizes for hacking breach, offers free USIM replacements

SK Telecom Chief Executive Officer Ryu Young-sang apologized Friday for the recent hacking incident involving the partial leakage of customers' universal subscriber identity module information, pledging to reinforce security measures and replace all customers’ USIM cards. “We sincerely apologize to our valued customers and the public for the significant concern and inconvenience caused by this incident,” Ryu said in a press conference at the company’s headquarters in central Seoul. “As an additi

April 25, 2025

LG posts record Q1 sales backed by strong B2B performance

LG Electronics said Thursday it has recorded its highest-ever first-quarter sales, driven by growth in its business-to-business sector, including the vehicle components and heating, ventilation, and air conditioning businesses. The tech giant reported sales of 22.74 trillion won ($15.9 billion) and an operating profit of 1.26 trillion won. This marks the first time the company’s first-quarter sales have surpassed 22 trillion won, setting a new record. LG’s first-quarter performance barely met lo

April 24, 2025

Trump Jr. to visit Korea next week at invitation of Shinsegae chairman

Donald Trump Jr., the eldest son of US President Donald Trump, is scheduled to visit South Korea next week on what will be his first trip to the country since the inauguration of the second Trump administration, according to industry sources Thursday. Trump Jr. is visiting at the invitation of Shinsegae Group Chair Chung Yong-jin, who reportedly extended the offer during a recent visit to Mar-a-Lago, President Trump’s private residence in Palm Beach, Florida. According to sources, Chung conveyed

April 24, 2025

High-end modules drive LG Innotek's record Q1 sales

LG Innotek said Wednesday it has logged the highest-ever first-quarter revenue, defying typical seasonal downturns thanks to robust sales of high-end camera modules, a rebound in demand for substrates used in semiconductors and displays, and favorable exchange rate conditions. The electronic component manufacturer posted 4.98 trillion won ($3.5 billion) in revenue for the January-March period, marking a 15 percent on-year increase. The figure exceeded the 4.45 trillion won consensus by local ana

April 23, 2025

Samsung OLEDs top new brightness benchmark

Samsung Display said Wednesday it has become the first company in the industry to receive the prestigious certification for perceptual brightness validation from UL Solutions, a global safety science company. The True Bright certification measures the black luminance and the perceptual contrast length of displays, using the measurement method adopted as a standard by Semiconductor Equipment and Materials International. The technique was introduced earlier this year by UL Solutions. UL Solutions

April 23, 2025

IMF slashes Korea's 2025 growth outlook to 1%

The International Monetary Fund on Tuesday cut its economic growth forecast for South Korea to 1 percent this year, down from 2 percent projected in January. The IMF also revised Korea’s economic growth forecast for 2026 to 1.4 percent, a 0.7 percentage point decrease from the previous 2.1 percent projection. The downgrades come as both domestic and global uncertainties deepen, with increasing trade tensions and policy unpredictability weighing on economic momentum. Meanwhile, the Bank of Korea

April 22, 2025

LG to exit EV charger business amid weak demand, price pressure

LG Electronics said Tuesday it will exit the electric vehicle charger business, three years after entering the market, due to prolonged stagnation in demand and intensifying price competition. The decision is part of a strategic realignment aimed at strengthening the company’s focus on its heating, ventilation and air conditioning business, a key growth driver under its eco solutions division. "Due to structural shifts in the business environment, including a protracted demand slowdown — referre

April 22, 2025

[Photo News] Coral in focus

Samsung Electronics said Monday that its marine ecosystem restoration project, Coral in Focus, has helped cultivate a total of 110,046 corals across key locations, including Florida, Bali and Viti Levu, over the past year. As part of the initiative, the tech giant developed Ocean Mode for its flagship Galaxy smartphone, a specialized camera feature optimized for underwater photography. Since last year, the company has partnered with the Scripps Institution of Oceanography at the University of Ca

April 21, 2025