SEOUL, March 17 (Korea Bizwire) — Samsung Electronics Chairman Lee Jae-yong has issued a stern warning to the company’s executives, criticizing the loss of Samsung’s competitive strength and urging a bold, all-or-nothing approach to overcoming the crisis. According to industry sources, Samsung shared Lee’s message during an executive seminar aimed at restoring the company’s founding values. The [...]
SEOUL, March 17 (Korea Bizwire) — LG Electronics set a new record for research and development (R&D) spending in 2024, investing heavily in AI-driven smart home technology, automotive electronics, and heating, ventilation, and air conditioning (HVAC) systems. According to LG’s latest business report, the company spent ₩4.76 trillion ($3.28 billion) on R&D in 2024, marking a [...]
SEJONG, South Korea, March 17 (Korea Bizwire) — Hanwha Group is making a renewed attempt to acquire Austal, an Australian shipbuilding company that supplies vessels to the U.S. and Australian navies, through its defense affiliates Hanwha Systems and Hanwha Aerospace. The move follows Hanwha’s previous failed bid in April 2024, when its subsidiary Hanwha Ocean offered [...]
ULSAN, South Korea, March 17 (Korea Bizwire) — HD Hyundai Heavy Industries has developed the world’s first 3D printing technology for emergency maintenance, repair, and overhaul (MRO) on operating vessels, the company announced Monday. The company successfully completed final testing and demonstrations of the “3D Printing Digital Workshop” at HD Hyundai Samho in Mokpo, South Korea. [...]
SEOUL, March 17 (Korea Bizwire) — In the automotive industry, bigger is increasingly better — at least when it comes to screens. As vehicles evolve beyond simple transportation into mobile living spaces, Korean display manufacturers are racing to capture a growing market for increasingly large in-vehicle displays. LG Display, currently the market leader, is set to supply [...]
SEJONG, South Korea, March 17 (Korea Bizwire) — More than 22,000 cases of suspected deceptive advertising on social media were identified in South Korea last year, as authorities intensified efforts to regulate undisclosed sponsored content. The Fair Trade Commission (FTC) released its 2024 Social Media Deceptive Advertising Monitoring Report on Sunday, revealing that 22,011 posts [...]
JEONGSEON, South Korea, March 17 (Korea Bizwire) — Kangwon Land’s Mind Fulfillment Center (KLACC: KangwonLand Attentive Mind Care Center) has become the first operator in South Korea’s gambling industry to publish research on the effectiveness of its gambling addiction treatment program in a peer-reviewed academic journal. According to Kangwon Land, findings from its intensive meditation [...]
SEOUL, March 17 (Korea Bizwire) — As global consumer electronics sales continue to slump, South Korea’s tech giants are finding new growth in an unexpected direction: business-to-business solutions, particularly in heating, ventilation, and air conditioning (HVAC) systems. Samsung Electronics has seen its consumer electronics and visual display division revenue stagnate, with annual sales of 60.64 trillion won [...]
SEOUL, March 17 (Korea Bizwire) — The defense ministry said Monday it began an annual project to recover the remains of soldiers killed during the 1950-53 Korean War, seeking to find more than 220 missing service members this year. Since 2000, the ministry has been working to excavate and identify the remains of fallen soldiers [...]
SEOUL, March 17 (Korea Bizwire) — As the global appetite for K-food continues to grow, South Korean food companies are accelerating their overseas expansion, aiming to reduce reliance on the domestic market and tap into high-growth international sectors. Among them, Samyang Foods has emerged as a standout, propelled by the overseas success of its Buldak [...]