Samsung Electronics records semiconductor revenue of $39.9 bln in 2023, down 37.5% percent year-on-year: market data

SEOUL -- Due to the sluggish global semiconductor market, Samsung Electronics faced a significant revenue decline in 2023. Data released by market research firm Gartner showed that the technology giant's global semiconductor revenue was $39.9 billion in 2023, down 37.5 percent from a year ago. The global market research firm reported on January 16 that worldwide semiconductor revenue dropped 11.1 percent year-on-year to $533 billion last year. Samsung secured the second posit

January 17, 2024

SK Group units partner with US clean energy company for ESS projects

SEOUL -- SK gas, a natural gas provider affiliated with South Korea's SK Group, will work with Apex Clean Energy, a Virginia-based renewable energy company, to establish energy storage systems infrastructure in the United States. Through a joint venture, the South Korean company will build energy storage facilities in Texas with a capacity of 200 megawatts. The amount of generated electricity is enough to provide power to about 330,000 households annually. An energy storage sy

January 17, 2024

S. Korean socks brand Banana Sisters opens first store in Philippines

SEOUL -- South Korea's socks brand Banana Sisters has opened its first store in the Philippines. The store located in Manila provides more than 300 types of socks including premium fashion socks, sports socks, and products designed for adults and children. According to data released by global market research firm Statista, the socks market in the Philippines which stood at $39.8 million in 2024 is projected to reach $44.5 million in 2027. Banana Sisters CEO Jung Yong-ju said he

January 16, 2024

S. Korean ecommerce operators join cutthroat race to check Chinese giant Alibaba and Pinduoduo

SEOUL -- South Korean ecommerce operators including Tmon and Wemakeprice have joined a dangerous cutthroat race to check against Chinese online shopping giants Aliexpress, the business-to-customer wing of Alibaba Group, and Temu, the counterpart of Chinese online retail giant Pinduoduo. Aliexpress became the ecommerce app that gained the largest number of new users in South Korea in 2023, according to data released by Wiseapp, a smartphone app market research firm. Aliexpress garn

January 16, 2024

Harvard Business School highlights S. Korean food maker's overseas marketing achievements

SEOUL -- CJ Cheiljedang, a key subsidiary of South Korea's food and entertainment conglomerate CJ Group, was highlighted in the Harvard Business School's textbook for its successful expansion of the Korean cuisine brand "Bibigo" overseas. Through a case study, the global research institute featured the South Korean company's strategies and achievements through the iconic Korean food brand. CJ Cheiljedang is the first South Korean company to exceed 10 trillion

January 15, 2024

S. Korea's state oil company KNOC joins carbon capture and storage project in Indonesia

SEOUL -- South Korea's state-run oil and gas company will work with Indonesia's national energy firm Pertamina to seek carbon capture and storage business opportunities in oil and gas fields on Indonesia's Java Island. Depending on the feasibility study's result, the two sides will convert oil and gas fields into facilities for storing carbon dioxide. The carbon capture and storage (CCS) technique uses special equipment to collect carbon dioxide created after burni

January 11, 2024

[CES2024] Pulmuone showcases robot chef for refrigerated dishes at CES 2024

LAS VEGAS -- South Korean food product maker Pulmuone has presented a vending machine that can cook refrigerated dishes in about 90 seconds at the Consumer Electronics Show, the world's largest annual electronics exhibition held in Las Vegas. At the global electronics exhibition, the robot chef provided instant dishes including noodle soup with beef and broth and Tteokguk, a traditional Korean soup made of rounded rice cakes. Pulmuone said on January 10 that the instant food

January 10, 2024

[CES2024] Hyundai Mobis showcases crab-walking EV 'MOBION'

LAS VEGAS -- Hyundai Mobis, the car parts-making wing of Hyundai auto group, has unveiled its demonstration electric vehicle, "MOBION," at the Consumer Electronics Show (CES), the world's largest annual electronics exhibition in Las Vegas. This marks the first global introduction of MOBION by the car parts maker, featuring an innovative "e-Corner System." This system allows for unique motion techniques, such as crab-walking for sideways movement and executi

January 10, 2024

[CES2024] S. Korean tech giants showcase AI butlers at CES 2024

LAS VEGAS -- South Korea's two technology giants -- Samsung Electronics and LG Electronics -- presented robot butler services at the Consumer Electronics Show, the world's biggest annual electronics exhibition held in Las Vegas. At the booths of both companies, visitors are exploring how artificial intelligence-based home companion robots can transform their daily lives. Samsung showcased "Ballie," a robot designed to help its master with chores aroun

January 10, 2024

[CES2024] Casino city Las Vegas transforms into hub for high-tech and sports industries

LAS VEGAS -- Las Vegas is transforming from a Casino town into a hub for high-technology through the Consumer Electronics Show, the world's largest annual consumer electronics exhibition. The city is attracting tourists from all across the United States, Europe, and Asia through the global event. The Consumer Electronics Show (CES) is an opportunity for global tech companies and related

January 9, 2024