Journalist
Candice Kim김혜준
candicekim1121@ajupress.com
ReporterSamsung Electronics, SK hynix, LG Electronics, Olive Young, Musinsa & Semiconductor, K-Beauty
Candice Kim is a dedicated business and technology reporter specializing in the intersection of high-tech innovation and fast-paced consumer trends. Her core beats span the semiconductor, IT, cosmetics, and retail sectors, where she provides in-depth coverage of industry titans including Samsung Electronics, SK hynix, and LG Electronics, alongside leading consumer brands like Olive Young and Musinsa. Whether analyzing complex silicon supply chains or tracking the latest shifts in beauty and fashion retail, Candice is committed to delivering sharp, accurate reporting that keeps readers informed on the forces shaping today's most dynamic markets.
"Connecting the dots from silicon chips to consumer shifts."
Latest by Candice Kim
-
Korea looks to turn chip windfall into fiscal war chest SEOUL, August 23 (AJP) - South Korea is looking to turn a tax windfall from its booming semiconductor industry into a new fiscal reserve, extending the economic spoils of the AI memory boom from chipmakers, workers and shareholders to government coffers. The government plans to establish a "Future Response Fund" that would collect tax revenue exceeding longer-term trends and channel it into strategic areas including youth programs, future growth industries, regional development and education and talent, according to the Ministry of Planning and Budget. The proposal comes as a historic semiconductor upcycle, fueled by surging demand for artificial intelligence infrastructure and high-bandwidth memory, is expected to sharply boost corporate tax receipts from the country's chip industry. Under the proposed system, the government would calculate a longer-term trend for domestic tax revenue based on historical growth. Revenue exceeding that level would be transferred from the general account into the new fund. The mechanism would also work in reverse. If tax revenue falls below the trend during an economic downturn, money accumulated in the fund could be transferred back to the general account, effectively creating a fiscal buffer between boom and bust. Planning and Budget Minister Park Hong-keun has described the fund as a fiscal reserve that could store revenue during periods of abundance and deploy it when government finances come under pressure. The fund could also receive excess tax revenue identified after revised government forecasts, remaining budget surpluses and returns generated from investing idle funds. Its eventual size has not been determined. The government plans to disclose more details alongside its 2027 budget proposal and medium-term fiscal plan early next month, although estimates based on the proposed funding mechanism suggest the pool could eventually exceed 100 trillion won ($72 billion). The proposal illustrates how far the financial impact of the AI semiconductor boom is spreading through South Korea's economy. Samsung Electronics and SK hynix are generating sharply higher earnings as global technology companies pour hundreds of billions of dollars into AI infrastructure, increasing not only corporate cash flow but also the tax revenue available to the government. The fund, however, is already raising questions over fiscal oversight. Critics have warned that a large pool of money sitting outside the regular general budget could give the government greater flexibility to redirect spending during the fiscal year, potentially allowing it to function like a standing supplementary budget. The government has rejected that characterization, saying the new fund, like other state funds, would remain subject to parliamentary budget review and that its creation would not weaken the National Assembly's authority over public finances. There are also questions over how sustainable a fund built partly on semiconductor-driven tax revenue would be. The memory industry is notoriously cyclical, meaning a downturn in chip prices and profits could quickly reduce the tax windfall currently expected to finance the fund. The government argues the mechanism is designed partly to address that volatility, accumulating revenue during boom years and releasing fiscal resources when tax collections weaken. Legislation establishing the fund is expected to move toward the National Assembly alongside the government's 2027 budget process. AJP Takeaways: South Korea plans to channel tax revenue generated above longer-term trends, including gains from the semiconductor boom, into a new Future Response Fund. The fund would finance youth, growth industries, regional development and education while also acting as a buffer that can support government finances when tax revenue weakens. Its final size has not been set, while the proposal is likely to face scrutiny over parliamentary oversight and its reliance on revenue from the highly cyclical semiconductor industry. 2026-08-23 13:49:58 -
KB Bank taps foreign residents to reshape services for growing customer base SEOUL, August 23 (AJP) - KB Kookmin Bank is bringing foreign residents into its product feedback process as the Korean lender expands financial services targeting the country's growing international population. The bank said Saturday it launched the first group of "KB Global Star Supporters," a 12-member customer panel made up of foreign residents in their 20s to 40s. The panel will test KB's banking services, including foreign exchange products, and provide feedback on inconveniences, accessibility and potential improvements through surveys and other assignments. KB said it plans to use the feedback in developing and refining products and services for foreign customers. The initiative comes as the lender expands its push into the segment. KB this year consolidated products and services targeting foreign customers under its "Global Star" brand and introduced savings and credit loan products designed for them. The first panel was launched at KB Kookmin Bank's headquarters in Yeouido, Seoul, on Thursday. "As the number of foreign customers residing in Korea continues to grow rapidly, we hope to gather a broad range of views through the program," a KB Kookmin Bank official said. "We will continue expanding services so that customers can access financial services more conveniently." 2026-08-23 11:31:39 -
CORTIS marks first anniversary with expanded EP, two new tracks SEOUL, August 23 (AJP) - K-pop boy group CORTIS will mark its first anniversary with an expanded edition of its second EP, adding two new tracks as the group continues its ongoing nine-city tour. The group will release "GREENGREEN playextended" at midnight on Monday, adding "PACK IT UP" and "MONEYMONEYMONEY" to the six tracks from its second EP "GREENGREEN." CORTIS gave fans an early preview of the two songs Saturday during the first night of its "2026 CORTIS TOUR PUT YOUR PHONE DOWN BIRTHDAY PARTY" at Korea University's Hwajeong Gymnasium in Seoul. All members participated in writing and composing the new tracks, continuing the group's collaborative approach to songwriting. The expanded release builds on "GREENGREEN," with the two additional songs drawn from material that was developed during work on the original EP but ultimately left off the record. CORTIS will hold the second night of its anniversary concert at the same venue at 5 p.m. Sunday. The group previously completed stops in Incheon and North America as part of its "PUT YOUR PHONE DOWN" tour, which spans 14 shows across nine cities. 2026-08-23 11:07:33 -
Samsung workers take protest to Seocho as record shareholder payout raises stakes SEOUL, August 21 (AJP) - "Seocho is next!" That was the promise Samsung Electronics workers made on July 16, when thousands gathered outside the company's Suwon campus for the first rally organized by the newly formed Donghaeng union. A little over a month later, they made good on it. Thousands of workers descended on Samsung's Seocho headquarters in southern Seoul on Friday, demanding answers over the deteriorating fortunes of the company's consumer-electronics businesses and what they see as an increasingly unequal system for sharing Samsung's gains. The protest came on the same day Samsung unveiled plans for the largest shareholder return in its history, expecting to return between 90 trillion won ($65 billion) and 110 trillion won this year through dividends and share buybacks and cancellations. The company also approved the purchase of about 15 trillion won worth of treasury shares for employee compensation. The announcements added another layer to a dispute increasingly centered on how Samsung distributes the fruits of its growth — among shareholders, employees and businesses whose fortunes have diverged sharply during the artificial intelligence boom. "Take responsibility for management failures!" "Stop cutting jobs!" "Communicate with employees!" The chants rose from the road outside Samsung's headquarters as workers dressed largely in black raised fists and placards toward the office towers. Other slogans were considerably more personal. "Park Hak-kyu, Chung Hyun-ho step down." One banner carrying Samsung Electronics Chairman Jay Y. Lee's image appealed directly to the group leader to "please listen to DX too." By 5 p.m., police estimated about 2,100 people had joined the rally, while Donghaeng put attendance at more than 3,500, saying workers continued arriving after the event began. The gathering was Donghaeng's second large-scale demonstration since its inaugural Suwon rally and marked a shift in tone. What began as anger over a vast compensation gap between Samsung's booming semiconductor division and its struggling consumer businesses is increasingly turning into a broader challenge to the way the company is being managed. "We did not come all the way to Seocho simply to demand more money," the union said in remarks delivered to reporters. "We came to ask why Samsung Electronics' DX division has reached this point, who made these decisions and who will take responsibility for their consequences." Beyond 1,000 shares Donghaeng, whose membership is concentrated in Samsung's Device eXperience (DX) division, has demanded that the company revisit this year's wage agreement and devise compensation equivalent to 1,000 Samsung Electronics shares for each DX employee. But union leaders on Friday sought to push back against portraying the dispute as simply a demand for a larger payout. "Stop hiding behind the number 1,000," the union said. "What we are demanding is not the number 1,000 itself." Instead, it said management should explain why DX's past contributions have not been adequately reflected in compensation, why executives are rewarded based on company-wide performance while rank-and-file workers are judged by individual business units and why the consequences of management decisions fall on employees through cost-cutting and workforce reductions. Asked separately by AJP how the 1,000-share figure had been calculated, a union official acknowledged that it was not based on a precise financial formula. "The conclusion from our internal discussions was that around 1,000 shares per employee would be appropriate," the official said. "It was less a precise calculation than a determination that this was an appropriate level." The dispute traces back to Samsung's wage settlement in May. Under the agreement, workers in the semiconductor-focused Device Solutions division became eligible for a special management performance bonus funded by 10.5 percent of designated business performance, without a fixed payout ceiling. Employees in the highly profitable memory business could receive dramatically larger compensation if the current AI-driven chip boom persists, although final payouts have not yet been made. DX employees, meanwhile, received Samsung shares worth about 6 million won each under a separate compensation arrangement. Donghaeng argues that the agreement effectively created a two-tier compensation system inside Samsung. The union says smartphones, televisions and home appliances helped sustain Samsung through repeated downturns in the cyclical memory-chip industry, only for those contributions to be discounted once AI demand sent semiconductor profits soaring. Friday's message, however, went further. Donghaeng accused management of repeatedly responding to deteriorating profitability with cost reductions rather than investment. "Before AI, it was excessive material-cost and expense reductions," the union said. "After AI, management began talking about workforce efficiency under the name of AX." It accused executives of cutting materials, investment and eventually jobs while failing to take responsibility for the strategic decisions that produced the current situation. The union pointed specifically to Samsung's struggles in high-bandwidth memory, or HBM, as a warning of what can happen when investment and technological shifts are misjudged. "We have already experienced a major crisis in semiconductors surrounding HBM," Donghaeng said. "When we failed to seize the shift in the AI market in time and lost the lead in the HBM race, we saw how quickly even a world-leading company can find its competitiveness under threat." 'No response from Roh Tae-moon' The rally also reflected frustration over what union officials describe as a near-total lack of communication from senior management. Donghaeng said Samsung's leadership has yet to give a substantive response to its repeated requests for dialogue. "We still have not received a response from anyone, most importantly from Roh Tae-moon," one union official told AJP, referring to the head of Samsung's DX division. "Roh has not presented any countermeasure or communicated with us. He is simply remaining silent." The official added that Roh's position itself illustrates what the union views as a structural problem inside Samsung. "Roh Tae-moon is the head of the division, but structurally there is very little he can decide on his own," the official said. The comment underscored why Friday's protest targeted Samsung's Seocho headquarters rather than another DX workplace. The union's demands have increasingly moved beyond individual business-unit management toward Samsung's central decision-making structure. Among the executives singled out in chants were Park Hak-kyu, head of Samsung Electronics' Business Support Office, and Chung Hyun-ho, his predecessor who now serves as an adviser to Chairman Jay Y. Lee. Workers called on both to step down, directing their anger toward Samsung's central management apparatus. Workers and shareholders find common ground The growing fight over Samsung's compensation system took an unusual turn even before the rally began, when Donghaeng sat down with a shareholder activist group — traditionally a constituency that might be expected to resist demands for larger employee payouts. At around 2:30 p.m., Donghaeng leaders and the Korea Shareholders' Activism Association held their first joint briefing near Samsung's Seocho headquarters. Donghaeng acting chairman Son Jong-hyun and policy planning chief Baek Soon-an met the shareholder group's head, Min Kyung-kwon, exchanging handshakes before separately outlining their positions. The meeting did not amount to a joint rally or formal alliance. Rather, the two sides found common ground over what they see as flaws in the process through which Samsung's May wage agreement and performance-pay arrangement were reached. "We agree that the previous wage negotiations were neither legitimate nor fair," Son said. "Whether we can align on the details will have to be discussed in future meetings, but our assessment of the fundamental unfairness of the negotiations is the same." Baek stressed that Donghaeng was not opposed to workers receiving performance-based compensation itself. "We are not saying that employees should not receive the results or rewards they deserve," he said. "But from Donghaeng's perspective, both the process through which the agreement was reached and the outcome are very difficult to accept." The shareholder group approaches the issue from a markedly different direction. Min argued that decisions involving the distribution of Samsung's overall earnings should, where shareholder approval is required, be put before a general meeting rather than determined solely through labor-management negotiations. "Shareholders are not shareholders of any particular union. They are shareholders of Samsung Electronics as a whole," Min said. "The distribution of Samsung Electronics' overall performance is something shareholders should be able to approve." He argued that the May 21 tentative agreement and May 27 final agreement should be treated as invalid, criticizing both the union that negotiated the deal and Samsung management for handling what he views as a matter involving the disposition of corporate profit. Hours later, Samsung announced the record shareholder-return plan. Its board approved total shareholder returns of 90 trillion won to 110 trillion won for 2026, potentially about five times the company's previous annual record of 20.3 trillion won in 2020. Samsung plans to distribute about 30 trillion won in cash dividends in the third quarter, with the remainder to be determined after full-year results are finalized. The plan is part of Samsung's 2024 to 2026 shareholder return policy, under which it pledged to return 50 percent of free cash flow to shareholders. Including this year's planned distributions, cumulative returns over the three-year period are expected to reach between 120 trillion won and 140 trillion won. The shareholder group welcomed the prospect of a large return to investors but maintained its criticism of Samsung's performance-pay system, arguing that the allocation of tens of trillions of won in performance-related compensation warrants shareholder scrutiny. That left Donghaeng and the shareholder activists in an unusual position: they disagree over who should ultimately receive Samsung's earnings, but agree that the process used to determine how those earnings are distributed needs to change. For now, however, the common front remains limited. "This was our first meeting," Son said. "As our administrative and legal procedures move forward, we may discuss whether there are areas where we can align with the shareholders. There may not be. It is too early to say." Protest spills onto Gangnam streets At around 4 p.m., the rally moved onto the streets. Workers marched along the stretch between Gangnam Station and Samsung's Seocho headquarters, temporarily occupying lanes along one of Seoul's busiest commercial corridors. Traffic backed up as police restricted one or two lanes along sections of Gangnam-daero. Horns sounded intermittently as cars tried to navigate around the procession, and arguments broke out between some motorists and people near the march route. The disruption came at the beginning of Friday's evening rush hour and drew complaints from some commuters. The rally has also faced criticism on a separate front. Samsung and its unions already concluded this year's wage negotiations in May, and Donghaeng has not separately secured the right to take industrial action. Critics have therefore questioned whether holding a mass gathering during normal working hours without completing procedures required for industrial action amounts to an improper attempt to circumvent labor rules. Donghaeng has rejected that characterization, saying participation was voluntary and workers could use company leave programs such as annual leave or "D-day" leave rather than refuse scheduled work. The union on Friday emphasized that it intended to remain within legal boundaries. "Donghaeng will fight to the end using every legitimate method permitted by law," it said. "We are not fighting to bring Samsung down. We are fighting because we cannot simply watch Samsung, which we helped build, be damaged by bad decisions." The dispute is unfolding as DX itself faces difficult operating conditions. The division posted an operating loss of around 800 billion won in the second quarter, its first quarterly loss since Samsung adopted the current divisional structure in 2021, squeezed in part by sharply higher memory and component costs. That has fueled criticism that demanding potentially billions of dollars in additional compensation is difficult to justify when the underlying business is loss-making. Donghaeng counters that focusing narrowly on the division's current earnings ignores its historical contribution to Samsung and, more importantly, avoids the question of who should bear responsibility for the decisions that led to the deterioration. 'Next is Hannam' The rally ended with another warning. A month earlier in Suwon, workers had answered "Seocho" when asked where they would go next. On Friday, the answer changed. "Today was Seocho. Next is Hannam," the union declared, referring to the Seoul neighborhood where Samsung Chairman Jay Y. Lee resides. A union official told AJP the choice was deliberate. "DX has been speaking, but management, including Roh Tae-moon, has shown no intention of listening or communicating," the official said. "If we go to Hannam, executives will have no choice but to pay attention." The union said the point was ultimately to force Samsung's top leadership to confront the dispute. As workers began dispersing from the streets around Seocho, the message from the stage was no longer centered solely on the size of a bonus. The questions came on a day when Samsung promised to return as much as 110 trillion won to its shareholders, underscoring the increasingly difficult balance the company faces over how to distribute the rewards of its AI-driven growth while addressing frustration among the employees who say they have been left behind. A month after taking its first protest to Suwon, Donghaeng has now carried those questions to Samsung's headquarters. If management remains silent, the union says it intends to carry them closer still. 2026-08-21 19:25:08 -
Samsung expects up to 110 trillion won in shareholder returns this year SEOUL, August 21 (AJP) - Samsung Electronics expects to return as much as 110 trillion won ($79.5 billion) to shareholders this year, setting up the largest shareholder return in the company's history as strong cash generation boosts funds available for dividends and share buybacks. The South Korean technology giant said Friday its board approved a plan for total shareholder returns of between 90 trillion won and 110 trillion won in 2026, roughly five times its previous annual record of 20.3 trillion won in 2020. The plan marks the final year of Samsung's three-year shareholder return policy launched in 2024, under which the company pledged to return 50 percent of its free cash flow, or FCF, to shareholders. Samsung plans to distribute about 30 trillion won in cash dividends in the third quarter, including its regular dividend. Details will be finalized at a board meeting scheduled for late October. The remaining shareholder returns will be determined after Samsung's full-year 2026 results are finalized. The board is expected to decide in January next year on the size and mix of additional cash dividends and share buybacks and cancellations. The scale represents a sharp increase from recent years. Samsung paid 9.8 trillion won in regular dividends in each of 2024 and 2025, for a combined 19.6 trillion won. In 2025, the company also paid a special dividend of 1.3 trillion won and carried out 8.4 trillion won worth of share buybacks and cancellations. Including this year's planned returns, Samsung expects its cumulative shareholder returns for the 2024 to 2026 period to reach between 120 trillion won and 140 trillion won. The company said the record payout is aimed at ensuring that gains from its growth are returned to shareholders while creating a cycle in which corporate growth translates into higher shareholder value. Separately, Samsung's board approved the purchase of about 15 trillion won worth of treasury shares to compensate employees. The company said the employee compensation program is also expected to contribute to shareholder value. Samsung said it will continue to implement its shareholder return policy while communicating its plans with shareholders and the market. Shares of Samsung Electronics closed up 9.5 percent at 271,000 won on Friday. 2026-08-21 17:45:34 -
LG sweeps major global design awards across TVs, robots and home appliances SEOUL, August 21 (AJP) - LG Electronics has completed a sweep of the world's three major design awards this year, winning 17 prizes at the 2026 International Design Excellence Awards after earlier collecting honors from Red Dot and iF across products ranging from televisions and robots to heating systems and laptops. LG said Friday it received five bronze awards and 12 finalist honors at IDEA 2026, organized by the Industrial Designers Society of America. The company had previously won a combined 55 awards at this year's Red Dot and iF design competitions. Among the bronze winners were the 9-millimeter-thick LG Signature OLED W television, three Therma V air-to-water heat pump indoor units, the UltraFine evo professional monitor, the Smart Monitor Swing and the PuriCare AeroMini air purifier. Another 12 products were named finalists, including LG's CLOiD home robot, a ceiling-mounted PuriCare system air purifier and the Gram Pro laptop made with a lightweight aerospace-grade material. Several products, including CLOiD, the Signature OLED W, Therma V indoor units, PuriCare system air purifier and Gram Pro, received recognition from all three major design awards this year. LG also received IDEA recognition in packaging design for its xboom audio products and LG Sound Suite home audio system, extending the awards beyond product hardware into branding and packaging. "We see this recognition as a result of designs that balance convenience and aesthetics while fitting naturally into customers' living spaces," said Jung Wook-jun, head of LG Electronics' Design Management Center. "We will continue to deliver differentiated experiences through customer-centered design." AJP Takeaways: LG won 17 awards at IDEA 2026, completing a sweep of the Red Dot, iF and IDEA design competitions this year. Recognition spanned a broad product mix, including TVs, robots, HVAC equipment, monitors, air purifiers and laptops. Several products won across all three major awards, suggesting LG's design push is being applied across multiple business lines rather than concentrated in a single category. 2026-08-21 10:25:13 -
SK hynix turns AI windfall into shares with new bonus deal SEOUL, August 20 (AJP) - SK hynix is spreading the gains from its AI memory boom across employees and shareholders, striking a tentative deal to pay 60 percent of performance bonuses in company shares just a day after unveiling a record 40 trillion won ($28.6 billion) share buyback. The two moves underscore how surging profits and cash flow are giving the world's leading HBM supplier room to simultaneously reward workers and shareholders while continuing massive investment in production capacity needed to meet AI demand. Under the tentative collective bargaining agreement announced Thursday, 40 percent of the company's profit-sharing bonus, known as PS, will be paid in cash in the year of payment, while another 40 percent will be distributed in SK hynix shares. The remaining 20 percent will be deferred and paid in shares over the following two years, with 10 percent distributed each year. Employees will be able to increase the share-based portion to as much as 100 percent. During the first year of the new system, however, employees will also be allowed to opt for an all-cash payment under certain circumstances. The agreement represents a significant change from the compensation framework reached last year, when SK hynix and its unions abolished a cap on PS and agreed to allocate 10 percent of annual operating profit to the bonus pool for 10 years. Under that arrangement, 80 percent of the bonus was to be paid in cash in the year of payment, with the remaining 20 percent deferred over the following two years. The shift toward stock comes as SK hynix's earnings have surged on demand for high-bandwidth memory, or HBM, used in artificial intelligence accelerators, sharply increasing the potential size of employee bonuses. To limit employees' exposure to share-price fluctuations, the number of shares awarded will be calculated using the lowest closing price among three reference points: the date preliminary annual earnings are disclosed, the cash bonus payment date and the share distribution date. The tentative agreement also includes a 6.3 percent wage increase. In return for sharing more directly in profits during strong years, employees would also participate in cost-saving measures during downturns. If SK hynix posts a loss, up to 3 percent of wages could be deferred under measures aimed at protecting employment and helping the company recover, with the deferred amount paid after the company returns to profit. The arrangement echoes measures taken during the 2023 memory downturn, when employees deferred part of their wages before receiving the money after SK hynix returned to profitability. The employee compensation overhaul comes alongside an even larger payout to shareholders. SK hynix on Wednesday approved a 40 trillion won share buyback and cancellation program, the largest of its kind by a South Korean listed company. The chipmaker plans to buy about 24.07 million shares, equivalent to roughly 3.3 percent of its outstanding stock, between Aug. 20 and Nov. 19 and cancel all of the shares acquired. SK hynix also raised its shareholder-return commitment, saying it now plans to return more than 50 percent of cumulative free cash flow generated between 2025 and 2027 through share buybacks, cancellations and dividends. The previous policy called for returns within 50 percent of cumulative free cash flow. The scale of those commitments reflects a dramatic change in SK hynix's financial position as the AI memory boom generates cash even as the company pours tens of trillions of won into new fabs and advanced memory capacity. The company had about 69 trillion won in net cash at the end of the second quarter. Investors cheered the shareholder-return push. SK hynix shares closed 12.67 percent higher at 1.69 million won on Thursday, recovering from a 9.75 percent drop in the previous session. The rally suggests investors are responding to SK hynix's attempt to balance three increasingly expensive demands on its AI windfall: rewarding shareholders, compensating employees and funding the capacity needed to defend its lead in HBM. The proposed overhaul comes amid debate inside SK hynix over how its rapidly growing AI-driven profits should be distributed. A newly established unified union has separately made preserving cash-based PS payments one of its priorities, potentially adding another variable as the tentative agreement moves toward approval. The agreement still requires approval through a vote by union delegates before taking effect. "The starting point of this agreement is that labor and management found a breakthrough on their own without relying on external mediation or institutional intervention," SK hynix said. "We have established a mature model of labor-management cooperation that enables society, employees, the union and the company to pursue sustainable growth together." AJP Takeaways SK hynix is directing its AI-driven cash windfall toward both employees and investors, with 60 percent of performance bonuses set to shift into shares alongside a record 40 trillion won share buyback. The company has raised its shareholder-return target to more than 50 percent of cumulative free cash flow from 2025 through 2027, while continuing heavy investment in AI memory production. Shares jumped 12.67 percent Thursday, suggesting investors welcomed the company's effort to balance shareholder returns, employee compensation and investment as HBM profits swell. 2026-08-20 16:13:36 -
LG Electronics takes materials business offshore with marine restoration project Courtesy of LG Electronics SEOUL, August 20 (AJP) - LG Electronics is expanding its push into functional materials beyond home appliances, deploying a proprietary mineral-releasing material in a four-year marine restoration project as it seeks to develop the technology into a new business-to-business growth engine. The company said Thursday it signed an agreement with South Korea's Ministry of Oceans and Fisheries, South Gyeongsang Province and the Korea Fisheries Resources Agency to create an underwater forest off Goseong on the country's southern coast. Under the project, the partners will apply LG Marine Balance, a functional material developed by LG, across about 1.5 square kilometers of waters off Deokmyeong-ri in Goseong between 2026 and 2029. The material releases mineral ions when it comes into contact with water, supplying nutrients used by seaweed and salt-tolerant plants. LG said it can adjust the amount and speed at which minerals are released depending on environmental conditions and manufacture the material in different forms, including beads and flat chips. Government agencies and other participants will monitor seaweed growth and changes in the marine environment after the material is deployed. LG has already been testing the technology at a 1,500-square-meter salt marsh near the Nakdong River estuary in Busan and another 1,500-square-meter site in the Suncheon Bay tidal flats. The project also forms part of LG's effort to turn decades of research in glass powder-based functional materials into a commercial B2B business. LG began researching the materials in 1996 and has secured about 420 related patents. Last year, it completed regulatory registrations for antimicrobial agents required to enter the U.S. and European markets, according to the company. The company currently operates a functional-materials production line with annual capacity of about 4,500 metric tons at its Changwon Smart Park and recently added a 2,000-ton line at its Hai Phong plant in Vietnam. The Vietnam facility is intended to supply markets including North America, Europe, China, India and Southeast Asia. LG's functional-materials portfolio also includes PuroTec, an antimicrobial and antifungal material designed for use in plastics, paints and rubber, and Mineral Wash, an inorganic detergent ingredient designed to reduce the number of rinse cycles required in washing. "We will continue to develop functional material technologies that contribute to environmental conservation and addressing climate change, while expanding them into B2B business opportunities," said Choi Sung-bong, head of LG Electronics' Built-in and Cooking Solutions business. AJP Takeaways LG will deploy its mineral-releasing Marine Balance material across about 1.5 square kilometers off Goseong through 2029 to test its role in restoring marine ecosystems. The project doubles as a real-world test bed for a functional-materials business LG has developed since 1996, backed by about 420 related patents. LG is scaling the business beyond Korea, with annual functional-material production capacity of about 4,500 tons in Changwon and another 2,000 tons recently added in Vietnam. 2026-08-20 15:07:42 -
LG shifts board leadership to independent directors ahead of tighter ESG rules SEOUL, August 19 (AJP) - LG Group has shifted the chairmanship of the boards at 11 major listed affiliates to independent directors, stepping up corporate governance changes as South Korea moves toward mandatory environmental, social and governance disclosures. LG Corp., the group's holding company, said it recently published its 2025 ESG report outlining sustainability performance and future plans across compliance, climate change and workplace safety. The report covers LG Corp., subsidiaries including LG CNS and D&O, and major affiliates including LG Electronics, LG Chem and LG Uplus. The most notable governance change is the group's transition to independent board chairs at 11 listed companies, including LG Corp., LG Electronics, LG Chem, LG Uplus and LG CNS. At LG Corp., Chairman Koo Kwang-mo had previously served concurrently as chairman of the board. LG said separating board leadership from management is intended to strengthen board independence and oversight and improve transparency in corporate decision-making. The group has also operated a board-centered compliance governance system since 2023, placing responsibility for oversight of key compliance risks with company boards while delegating implementation and monitoring duties to ESG committees, chief executives and compliance officers. The changes come as Korean companies prepare for tighter sustainability disclosure requirements. LG Corp. has applied standards being developed by the Korea Sustainability Standards Board, or KSSB, to its ESG reporting since 2024, ahead of mandatory ESG disclosures scheduled for 2028. Its latest report applies the framework across compliance, climate change and occupational health and safety. On climate, LG said it is targeting a 34 percent reduction in greenhouse gas emissions from 2018 levels by 2030 and a 52 percent reduction by 2040, before reaching net zero by 2050. The group plans to periodically revise the roadmap to reflect technological advances and progress at its affiliates. LG has also incorporated AI technology into its workplace safety initiatives, showcasing AI-based safety and environmental systems through its group-wide Safety Health Environment Conference, which has been held since 2023. AJP Takeaways LG has moved 11 major listed affiliates to independent board chairmanship, separating board leadership from management as part of a broader governance overhaul. The group has incorporated KSSB sustainability standards into its ESG reporting since 2024, ahead of South Korea's planned mandatory ESG disclosures in 2028. LG is targeting a 34 percent cut in greenhouse gas emissions from 2018 levels by 2030, 52 percent by 2040 and net zero by 2050. 2026-08-19 10:57:41 -
Samsung Display takes aim at foldables' dim spot with new OLED technology SEOUL, August 19 (AJP) - Samsung Display has developed a new OLED technology aimed at tackling a persistent weakness of foldable screens, uneven brightness around curved and folded areas, as the display maker looks to improve image consistency across the next generation of flexible devices. The company said Wednesday it will unveil its 7.6-inch "Wide View" display for the first time at IMID 2026, a four-day display industry conference running through Friday at BEXCO in Busan. Current commercial foldable displays can appear significantly dimmer around the curved sections on either side of the central fold, with brightness falling to about 40 percent of the level seen when viewing a flat portion head-on, according to Samsung Display. The new technology redesigns the materials and structure of the OLED's organic light-emitting layer to maintain more uniform brightness across curved sections of the panel. Samsung Display said the technology could eventually be applied beyond foldable smartphones to slidable and rollable devices, where curved viewing angles can produce similar variations in brightness. The company is also unveiling a 20-inch stretchable display, its largest to date. Samsung combined two stretchable panels using tiling technology, more than doubling the size of its previous version while minimizing the visible boundary between them. Samsung sees potential applications for the larger stretchable display in automotive digital cockpits, humanoid robots and digital signage, where screens increasingly need to conform to curved or unconventional surfaces. The exhibition also includes several experimental OLED applications aimed at emerging AI devices, including a display for humanoid robots with eye-tracking capabilities and a wearable AI OLED pendant. Samsung is also showing new automotive and high-refresh-rate gaming displays. Samsung Display will present 57 technical papers at this year's conference, the largest number among participating companies. Its OLED panel used in Samsung Electronics' Galaxy S26 Ultra also received IMID's Korea Display of the Year award for its privacy display technology. Samsung Display said the Wide View technology could improve brightness uniformity around curved portions of displays and could eventually be applied to foldable, slidable and rollable devices. AJP Takeaways Samsung Display's new Wide View OLED targets a longstanding foldable-screen issue in which curved areas around the fold can appear substantially dimmer than the flat center of the display. The technology redesigns the OLED light-emitting layer to deliver more consistent brightness and could eventually extend to foldable, slidable and rollable devices. Samsung is also showing a 20-inch stretchable display and experimental OLEDs for humanoid robots and AI wearables, signaling a push to take flexible displays beyond smartphones. 2026-08-19 10:31:19