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[Photo News] LG's US headquarters doubles as science and tech hub

[Photo News] LG's US headquarters doubles as science and tech hub

Korea Herald9 hours ago

LG Electronics has been operating the LG Inspiration Lab at its North American headquarters in Englewood Cliffs, New Jersey, showcasing interactive exhibitions featuring OLED displays, robots and EV simulators. The lab allows local students to experience cutting-edge technology, drawing over 4,000 visitors last year, quadrupling from 1,000 in 2023. The site also hosts college students studying the Korean language and foreign diplomats for tech briefings and discussions about cross-border partnerships.

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BOK chief backs need for won-based stablecoin, warns of FX risks
BOK chief backs need for won-based stablecoin, warns of FX risks

Korea Herald

time4 hours ago

  • Korea Herald

BOK chief backs need for won-based stablecoin, warns of FX risks

Central bank notes price growth slowing, but pandemic-era surges still weigh on consumers Bank of Korea Gov. Rhee Chang-yong said Wednesday that he is not opposed to the issuance of a Korean won-pegged stablecoin and, in fact, sees a need for it. When asked whether the issuance of a won-based stablecoin could trigger inflation by increasing the money supply, Rhee clarified his position. 'I do see the need for a won-backed stablecoin. Let me be clear — I am not against it,' he said during a press conference held at the central bank's headquarters. He added that the impact of such a stablecoin on the monetary system would depend on the form of issuance and the type of assets backing it. However, Rhee raised concerns over potential challenges to foreign exchange controls. 'If a won-based stablecoin is issued, it could facilitate the conversion of won-denominated assets into dollar-based stablecoins, which could increase demand for foreign stablecoins and complicate forex management,' he said. The ruling Democratic Party of Korea has been pushing to allow non-banking institutions to issue a won-based stablecoin. 'We would need to consider the broader implications for bank profitability and structural changes if payment and settlement functions — traditionally handled by banks — are expanded to the non-banking sector," Rhee said. He added that the central bank would work with the Ministry of Economy and Finance and the Financial Services Commission to establish appropriate measures as soon as possible. Wednesday's press conference was also held to review the current inflation trend in Korea. In the first five months of 2025, consumer prices rose 2.1 percent — slightly higher than the 1.8 percent increase seen in the last six months of 2024, but still near the central bank's target of 2 percent. 'The pace of growth has stabilized, but prices remain elevated due to the sharp rise that occurred during the COVID-19 pandemic,' Rhee said. From 2021 to May 2025, overall consumer prices increased by 15.9 percent. Meanwhile, the cost of living index — which includes a selected subset of essential items — rose 19.1 percent during the same period, outpacing general inflation by 3.2 percentage points and highlighting rising household burdens. The Bank of Korea also commented on the potential inflationary impact of recent US tariff measures. The central bank noted that the tariffs could actually help ease inflationary pressure in Korea, given its heavy reliance on exports to both the US and China. The logic: weaker global demand could lead to lower raw material prices. Additionally, if China redirects its low-cost goods to markets like Korea due to reduced exports to the US, it could create further deflationary pressure. However, the BOK emphasized the uncertainty surrounding these projections. 'Since the implementation and scope of tariffs could vary depending on negotiation outcomes, factors such as won depreciation or partial supply chain disruptions could offset any downward pressure on prices,' the central bank said in a statement.

TCL CSOT Strengthens Innovation Team with Appointment of IGZO Pioneer Professor Hideo Hosono
TCL CSOT Strengthens Innovation Team with Appointment of IGZO Pioneer Professor Hideo Hosono

Korea Herald

time4 hours ago

  • Korea Herald

TCL CSOT Strengthens Innovation Team with Appointment of IGZO Pioneer Professor Hideo Hosono

SHENZHEN, China, June 18, 2025 /PRNewswire/ -- TCL CSOT, a global leader in advanced display technologies, has signed an agreement with Professor Hideo Hosono, a world-renowned materials scientist from the Institute of Science Tokyo and Founding Director of the MDX Research Center for Element Strategy (MDXES), appointing him as its Distinguished Technical Consultant. This appointment marks a major step forward in TCL CSOT's efforts to accelerate innovation in high-mobility oxide technologies for next-generation display applications including LCD and OLED. At the ceremony, Zhao Jun, SVP of TCL Technology and CEO of TCL CSOT, welcomed Professor Hosono's involvement, stating, "In the face of intensifying global competition in the display industry, technological innovation is the cornerstone of sustainable growth. This partnership will inject fresh momentum into our R&D efforts. By leveraging Professor Hosono's pioneering research in oxide semiconductors - an area highly aligned with TCL CSOT's strategic focus - we aim to accelerate progress in material optimization and device architecture. These efforts will further support the evolution of our display technologies and reinforce our leadership in the industry. We look forward to working closely with Professor Hosono to enhance our capabilities and drive sustained innovation at TCL CSOT." Dr. Yan Xiaolin, CTO of TCL Technology and TCL CSOT, highlighted the technical value of the partnership, "Professor Hosono's deep expertise in oxide semiconductors is exactly what we need to address key challenges in display technology. While we have been committed to advance oxide technology and have conducted R&D across a range of oxide materials, significant barriers remain in achieving both high-mobility and high-stability. This partnership will enable us to deepen foundational research and explore new material systems, paving the way for breakthroughs in high-mobility oxide technology." Professor Hosono shared insights into high-mobility oxide materials, including crystal structures, electron transport mechanisms, and strategies for performance optimization for various applications. He stated, "While high-mobility oxide materials have shown great promise in the lab, key challenges remain in transitioning to mass production, particularly in material and device fabrication. I look forward to working with TCL CSOT's skilled R&D team to push the boundaries of next-generation display materials and help to bridge the gap between research and real-world application." This partnership marks a key milestone in TCL CSOT's efforts to strengthen its innovation ecosystem. By collaborating with world-class experts, the company is further integrating global resources, accelerating progress in high-mobility oxide technology, and driving breakthroughs in key areas such as display materials and device processes. TCL CSOT will continue to introduce more high-end display products, consolidating its leadership in the global semiconductor display industry and contributing to the industry's high-quality development. About TCL CSOT Established in 2009, TCL China Star Optoelectronics Technology Co., Ltd. (TCL CSOT) is a leading global innovator in display technologies. Its LCD, OLED, and MLED solutions power applications across TVs, smartphones, tablets, laptops, monitors, automotive systems, VR/XR, and commercial displays. With a clear strategic direction set by its advanced display technology brand APEX, TCL CSOT invests continuously and strategically in R&D, driven by a mission to amaze, protect and inspire all people through endlessly innovative display technology. As part of TCL's Worldwide Olympic Partnership, TCL CSOT is proud to deliver display solutions that elevate experiences on the global stage.

Seoul shares up for 3rd day on top-cap, IT gains
Seoul shares up for 3rd day on top-cap, IT gains

Korea Herald

time5 hours ago

  • Korea Herald

Seoul shares up for 3rd day on top-cap, IT gains

South Korean stocks closed higher for the third consecutive session Wednesday, led by big gains in market heavyweight Samsung Electronics and IT shares. The local currency was trading lower against the US dollar. The benchmark Korea Composite Stock Price Index added 21.89 points, or 0.74 percent, to end at 2,972.19. Trade volume was moderate at 568.6 million shares worth 14.4 trillion won ($10.5 billion), with losers outnumbering winners 457 to 425. Foreigners net purchased 272 billion won worth of local shares, and institutions bought 130.6 billion won, while retail investors unloaded 432 billion won in apparent profit taking. Investors' eyes are on whether the KOSPI will hit the 3,000 mark for the first time in over three years this week despite the growing tensions in the Middle East. Overnight, Wall Street lost ground on news reports that US President Donald Trump has called for Iran's "unconditional surrender" and warned people in Tehran to evacuate immediately, suggesting a possible escalation of tensions in the region. Iran has been engaging in a military conflict with Israel after the latter conducted preemptive airstrikes on Iranian nuclear facilities earlier this week. Experts said foreign investors moved to buy IT shares on the Korean government's plan to make a massive investment in artificial intelligence (AI), while global investment bank JP Morgan recommended overweight of top search engine Naver in stock portfolio. On Sunday, President Lee Jae Myung appointed Ha Jung-woo, head of the Future AI Center at Naver, as the presidential secretary for AI policy, a newly minted position. Naver shot up 17.92 percent to 243,500 won, while Kakao, the operator of the country's dominant mobile messenger, jumped 6.56 percent to 55,200 won. NHN, a major IT and game company, also rallied 10.46 percent to 32,200 won. Tech behemoth Samsung Electronics climbed 2.93 percent to 59,800 won, and leading nuclear power plant manufacturer Doosan Enerbility advanced 2.69 percent to 61,000 won. Major oil refinery SK Innovation soared 10.98 percent to 101,100 won as the Israel-Iran conflict drove up international oil prices. On the other hand, chipmaking giant SK hynix lost 1 percent to 246,500 won, while defense industry leader Hanwha Aerospace dropped 2.83 percent to 927,000 won. The local currency was quoted at 1,369.4 won against the greenback at 3:30 p.m., down 6.7 won from the previous session. (Yonhap)

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