Haesung Optics said on Friday that it has completed its reorganization of appointing a new management team and removing loss-making businesses.The company will focus on its optical image stabilization (OIS) actuator business to return to profitability in the fourth quarter, a Haesung Optics spokespe

Magnetic separator maker Daebo Magnetic has been expanding into battery material processing since earlier this year and the new business will start contributing in revenue in 2022, the company CEO said.Daebo Magnetic CEO Lee Sang-ick said the company has started to contact potential customers during

Cowin Tech said on Tuesday that it has clinched a new automation equipment supply deal worth 5.6 billion won.With the latest contract, it had remaining orders of 103 billion won at the current time, a company spokesperson said.It won a total of 22.2 billion won worth of new orders since October.The

South Korean chip design house SemiFive is planning to acquire a fellow partner of Samsung Foundry Hanatec, TheElec has learned.If the deal succeeds, Hanatec will become the third design house company within three years that SemiFive has acquired.SemiFive will acquire enough shares for managerial ri

South Korean chip fabless company Neowine was developing its own AI chip design platform, its CEO said.Neowine CEO John H. Lee told TheElec that the IP and software platform will be called EONNX, or Embedded ONNX, which will be based on the open source AI software platform Open Neural Network Exchan

The US and China's trade row is continuing. Five years have passed since the inauguration of the Trump Administration that started the row but the two superpowers' economic competition isn't relenting even in the Biden era.The US-China trade row will undoubtedly affect South Korea's semiconductor bu

Autonomous driving startup 42dot will spend around 6 billion won to acquire 10% of the shares in INAVI Systems, TheElec has learned.The startup is making the investment to secure a stable supply of high precision map data from INAVI Systems, a subsidiary of Thinkware that operates its driving naviga

The new CEO of LG Energy Solution has told employees that the company has the capacity to turn its recent crisis into an opportunity.Kwon Young-soo was newly named CEO and vice chairman of LG Energy Solution on Monday.He was previously the vice chairman of LG Corporation, the holding company of the

The vice chairman of LG Corp, the holding company of the LG business group, will become the new CEO of LG Energy Solution.LG vice chairman Kwon Young-soo will take the top job of the South Korean battery maker after votes from shareholders and the board.Kwon had previous headed the battery business

AI machine vision firm Twim is aiming to secure 200 billion won in sales in five years, its CEO told TheElec.Twim CEO Jeong Han-seop said the company started by offering rule-based inspection kits but has now expanded to deep learning-based AI inspection equipment, which allowed it to secure revenue

The chairman and CEO of Edison Motors said the company believes that its recently acquired subsidiary SsangYong Motor could reach 10 trillion won in sales by 2030.Chairman Kang Young-kwon said at an online press event on Friday that SsangYong could manufacture 200,000 units to 300,000 units of vehic

Fabless chip company Solidvue will launch lidars using for use in mobile and autonomous vehicles in 2023 its CMOS lidar sensor IC technologies, the company CEO said.The firm was the only one in South Korea that can develop a CMOS lidar sensor IC, Solidvue CEO Jaehyuk Choi said.It will use its own te

Semiconductor startup Qualitas Semiconductor is eyeing the advanced semiconductor market such as those used for data center with its high-speed interconnect IPs, CEO Duho Kim told TheElec in an interview.Kim said the interconnect IP business requires knowledge of circuit design for both analog and d

Samsung Electro-Mechanics said on Friday that it was ending its rigid flexible printed circuit board (RFPCB) business. It has been manufacturing the boards at its factory in Vietnam.RFPCB is used to connect the OLED panel with the main board. It has flexible and rigid characteristics, which makes pr

Battery prices going down will be the precondition for electric vehicle sales to expand, according to a CEO of an analyst firm.SNE Research CEO Kim Kwangju, speaking at the firm’s event called KABC 2021 in Seoul, South Korea, stressed that automobile brands such as Volkswagen, Stellantis and Tesla h

Autonomous driving startup 42dot has received 81 billion won in its latest funding round.Shinhan Bank, Lotte Rental and Stic Ventures each put in 30 billion won, 25 billion won and 13 billion won, respectively, while the remaining funds were given by previous investors, people familiar with the matt

SK On, the battery business unit of SK Innovation, is considering developing lithium iron phosphate (LFP) batteries, its CEO told Reuters.The South Korean battery maker is considering developing LFP batteries for specific applications such as low-priced vehicles, SK On CEO Jee Dong-seob said."There

SK Innovation has officially split off its battery business into a new company called SK On on Friday.Its petrochemical business has also been split off into a new company called SK Earthon.SK On’s first CEO will be Ji Song-seop, who led SK Innovation’s battery business.Ji joined SK Group back in 19

The CEO of South Korean fab equipment maker Semes, a subsidiary of Samsung Electronics, is visiting the US to secure talented engineers, TheElec has learned.Semes CEO Kang Chang-jin is seeking to hire senior engineers that are experts in semiconductor etching equipment, sources said.Semes is South K

CU-Tech said on Friday that it plans to secure five production lines for printed circuit assembly (PCA) for use by Samsung Display in quantum dot (QD)-OLED display panels.CU-Tech said Samsung Display has sent QD-OLED samples to Samsung Electronics and Sony. The company expects the display panel make