Top executives of South Korean technology giants stressed on Monday their need to push relentlessly for unmatched quality in a long-term approach, as their electronics and semiconductor chip businesses are projected to yield the highest revenue for 2021, in their respective New Year’s addresses. Fierce competition on a global scale still leaves Samsung Electronics, one of the world’s leading electronics goods makers and chipmakers, with a long road ahead to secure a technology leade

LG Innotek said its chief executive Jeong Cheol-dong will receive an award from the Institute of Electronics and Information Engineers on Friday for helping raise the global competitiveness of the local materials and parts industry. Jeong, known for his insight on the materials and parts market with 37 years of experience in business-to-business deals, will receive the Haedong Technology Award from the academic organization, the electronic components maker said. Having joined LG Semiconductor

Samsung Electronics was recognized with a $110 billion Tower of Export at the 58th Trade Day in South Korea, in an unprecedented move among companies of Asia’s fourth-largest economy, data from the Ministry of Trade, Industry and Energy showed Monday. This comes as the Korean technology bellwether earned $113.2 billion from July 2020 to June this year from exports of semiconductor chips, consumer electronic goods and mobile handsets. This accounted for a fifth of the total exports of Kor

LG Innotek said Wednesday one of its senior officials won a presidential commendation at the 2021 Korea Tech Show for developing innovative technology and products. Lee Kwang-tae, head of LG Innotek’s package substrate production division, received the award for contributing toward enhancing the competitiveness of Korea’s semiconductor substrate industry. Lee joined LG Electronics in 1999 and has worked on substrate development and production technology. Since 2008, he has led the

Six Korean companies have been added to the Dow Jones Sustainability World Index (DJSI) said a public institution under the Ministry of Industry, Sunday. The six companies are Samsung Biologics, Kakao, SK Telecom, Hyundai Motors, logistics company Hyundai Glovis and car parts maker Hyundai Mobis, the Korea Productivity Center said. The Dow Jones Sustainability World Index is part of a larger family of Dow Jones Sustainability Indices (DJSI) launched in 1999 as the first global sustainabilit

LG Innotek said on Tuesday its Gumi factory in North Gyeongsang Province has earned international certification for having zero waste go to landfill, a first in the materials and components industry here. The electronic parts supplier said its Gumi plant received platinum grade “Zero Waste to Landfill” certification from the international institution Underwriters Laboratories for its resource circulation efforts. ZWTL grants different grades based on how much industrial waste is re

LG Innotek said on Monday it is running an open audition program where its employees make proposals to explore new businesses. Employees of the electronic components supplier present their ideas to “i-Lab,” short for “innovation lab,” through video conferences, and get “likes,” questions and feedback from other employees on a real time basis. The 10 ideas that get the most “likes” will be reviewed by management, including the company’s chie

Four metaverse-themed exchange-traded funds went listed for the first time on the country’s stock markets on Wednesday, betting on growing interest in the new IT platform. The four ETFs are KB Asset Management’s KBSTAR iSelect Metaverse, NH Amundi Asset Management’s Hanaro Fn K-Metaverse MZ, Mirae Asset Global Investment’s Tiger Fn Metaverse, and Samsung Asset Management’s KODEX K-Metaverse Active. Samsung Asset’s ETF product is an actively managed fund,

LG Innotek said Wednesday the company is taking part in an international trade show for substrates and chip packaging technologies to showcase its newest products and technologies. The electronic parts supplier of LG Group exhibited three new products -- 5G Antenna in Package, RF-System in Package and Chip On Film -- at the Korea International Electronic Circuits and Packaging Show 2021 that kicked a three-day run in Songdo, Incheon on Wednesday. The 5G AiP is a substrate for the antenna mod

A growing number of South Korean companies are turning to the metaverse to offer new services, promote their products and train their staff, ushering in what has been described as the “future of the internet.” BGF Retail, the firm behind convenience store chain CU, opened the second store on Zepeto recently -- a 3D avatar metaverse platform run by South Korea’s largest web portal operator Naver. Following the opening of the “world’s first” virtual store in A

LG Innotek Co., a major electronics parts maker in South Korea, said Monday it has developed an environmental friendly magnet that boasts enhanced magnetic strength. LG Innotek said the latest magnet, which it developed together with Sunglim Group Industry Co., reduces the use of heavy rare-earth (HRE) metals, a key ingredient of magnets, by 60 percent compared with previous ones. Such a magnet is installed in products that need power with its magnetic pushing and pulling force. The company said

South Korea's major companies increased their hiring of new employees in the first half of the year despite the coronavirus pandemic, a corporate tracker said Wednesday. According to CEO Score, 460 out of the country's top 500 firms by sales had a combined workforce of 1,503,643 as of end-June, up 13,667 from a year earlier. Their net employment came to 5,259 in the January-June period, which contrasts with a decrease of 3,930 a year earlier. CEO Score said those large companies jacked up hir

South Korean companies operating in Vietnam have provided a total of 9.2 billion won ($7.8 million or 180 billion dong), in donations to help the Southeast Asian country secure COVID-19 vaccines, according to officials in the South Korean Embassy in Vietnam and local media reports Tuesday. If donations from South Korean individuals are counted, the combined contribution to Vietnam’s vaccine fund could surpass 10 billion won, they said. Forking out the biggest amount was Samsung Electro

LG Group affiliates operating in Vietnam have yet to receive any COVID-19 vaccines despite donating billions of won to help the Southeast Asian country secure the jabs, Korean media outlets reported Monday. Citing sources in Vietnam, the reports said LG Group employees working at the home appliance plants in Haiphong City have not received any vaccines. The parent group has contributed 1.55 billion won ($1.4 million) to Vietnam’s national vaccine fund. This is in stark contrast to oth

LG Group’s materials and components maker LG Innotek managed to cut greenhouse gas emissions by 11 percent last year, from the previous year, the company said in a report released Monday. According to the firm’s 2020-21 Sustainability Report, it reduced emissions by an estimated 45,000 tons, which is equivalent to what 3.9 million trees would have absorbed over a year. In addition to that, the company was able to cut water usage by 7 percent from 2019, by expanding investment in