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April 08, 2024
Samsung Electronics' labor unions vote for strike after wage talks break down
Unionized workers of Samsung Electronics have voted in favor of a strike after failing to reach a deal on wage hikes with management, industry sources said Monday. Out of the 27,458 members across f...increase. The unions have demanded a 6.5 percent pay increase with an additional paid ...
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April 08, 2024
Taiwan quake may push up memory chip prices in Q2: analysts
...the suspension of DRAM pricing, with a reassessment of post-disaster losses to restart negotiations for second-quarter contract prices. Opting to wait and see the market direction, market leaders Samsung Electronics and SK hynix have also halted their pricing, although neither supplier...
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April 05, 2024
Samsung Bioepis begins phase 3 clinical study for its Keytruda biosimilar
Samsung Bioepis, Samsung Group’s biosimilar arm, announced Friday that the company had started a phase 3 clinical study for SB27, a Keytruda biosimilar. Keytruda is an immuno-oncology drug developed by MSD, a US multinational pharmaceutical company. Indications for the drug in...
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April 05, 2024
Samsung's insurance arm ends bancassurance sales over low profitability
Samsung Fire & Marine Insurance, the nation's leading non-life insurer, has ceased selling insurance products through bank channels, commonly known as "bancassurance." As of January, Samsung Fire & Marine Insurance has halted all new sales through banks, following a consistent ...
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April 05, 2024
Hanwha Aerospace conducts spinoff to focus on defense industry
...ion-making due to differences in business strategies between defense businesses and other sectors, as explained by the group. Hanwha Aerospace was established in 2015 following the acquisition of Samsung Techwin, which specialized in aviation and defense operations, surveillance camera...
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April 05, 2024
Samsung Electronics anticipates tenfold profit surge in Q1 amid chip market rebound
Samsung Electronics predicted a more than tenfold increase in its operating profit for the the January-March period, signaling a dramatic resurgence in its semiconductor business on rebounding demand...amsung’s quarterly revenue has topped the 70 trillion won mark since the fourth quarte...
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April 05, 2024
Samsung Electronics expects tenfold jump in Q1 profit as chip demand rebounds
South Korean tech giant Samsung Electronics said Friday its operating profit for the first quarter is estimated to have shot up more than tenfold on rebounding demand for memory chips, beating market...arter operating profit of 6.6 trillion won ($4.9 billion), up 931.3 percent from a year...
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April 04, 2024
SK hynix to build $3.87b chip packaging plant in Indiana
...rnment there. SK hynix has also reportedly applied for semiconductor production subsidies from the US government, according to industry sources and media reports. Bloomberg recently reported that Samsung Electronics, which invested $17 billion to build a new plant in Taylor, Texas, wil...
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April 03, 2024
How did Hyundai Motor end up becoming KT's largest shareholder?
...he public interest review and approval process by the Ministry of Science and ICT is completed, procedures for changing the largest shareholder may be unnecessary,” said Choi Min-ha, an analyst at Samsung Securities. Previously, Japan's No. 1 mobile operator, NTT Docomo, which was KT’...
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April 03, 2024
Samsung, GS win record gas plant deals in Saudi Arabia
South Korean builders Samsung E&A and GS Engineering & Construction have secured a contract worth a combined total of $7.2 billion for the construction of a substantial gas plant in Saudi Arabia, the...g gas plant located some 350 kilometers northeast of Riyadh, Saudi's capital, by Novemb...
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April 03, 2024
Renault Korea overhauls brand strategy to overcome sluggish performance
...nged sluggish sales. The company announced a change of its official corporate name from Renault Samsung Motors to the more simplified Renault Korea. It also announced that it will begin using the gro...e typhoon-shaped one that it has used since 2000, when it was sold to Renault from S...
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April 03, 2024
Samsung Electronics to release new products globally at same time
Samsung Electronics on Wednesday unveiled its latest lineup of home appliance innovations with the global launch of its artificial intelligence (AI)-powered products in a bid to offer synchronizing c...ances for each distinct market. "We hold these media events in Paris and New York late...
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April 03, 2024
S. Korean firms win $7.2b gas plant deal in Saudi Arabia
Samsung E&A and GS Engineering & Construction (GS E&C) have won a combined $7.2 billion deal to expand a gas plant in Saudi Arabia, the biggest order for South Korean companies in the Middle Eastern ...ct in the United Arab Emirates and the $7.7 billion Bismayah New City project in Iraq, ...
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April 02, 2024
Korea urged to step up incentives for chipmakers
...through 2030. On the other hand, South Korea, home to the world's two largest memory chipmakers Samsung Electronics and SK hynix, has been pointed out as lacking such direct support programs. The bi...akers is a corporate tax break for facility investment of 15 percent for large corpo...
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April 02, 2024
Biz community bids final farewell to late Chairman Cho Suck-rai
...an, China and other major economies, Cho played a prominent role in regional business associations, such as the Pacific Basin Economic Council and the Korea-U.S. Business Council. During his five-day mourning period, a number of South Korean political and business leaders, including Prime Minist...
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April 01, 2024
Samsung Bioepis launches half-priced Soliris biosimilar
Samsung Bioepis, a biosimilar developer under Samsung Group, announced Monday that the company decided to launch its Soliris biosimilar Epysqli in Korea at a price nearly 50 percent cheaper than the original drug. Epysqli is a biosimilar referencing Soliris, a high-cost drug fo...
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April 01, 2024
More women break glass ceiling on financial group boards
...Korean Academic Society of Taxation. Including Yoon, three board seats out of nine went to women at Shinhan Financial Group. Hana Financial Group added Yoon Shim, former senior vice president of Samsung SDS, to the board, increasing the female director number from one to two. The pus...
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April 01, 2024
Samsung CEO vows High Bandwidth Memory leadership
Memory chip aside, Samsung also runs foundry and logic chip design businesses and aims to become the world's top memory chipmaker by 2027. "Clients’ interest is also growing in the Mach-1, which is ... faster than we expected." Naver, South Korea's IT giant, is expected to be the first...
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April 01, 2024
Family, business leaders mourn Hyosung honorary chairman
...ited the funeral to pay respect for two days in a row. At the time, Cho recalled the late former Samsung chief as a "warm-hearted" man, telling the story of Lee giving him two dogs as a gift. Hong st... husband Kim Jae-youl, president of Samsung Economic Research Institute. ...
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March 29, 2024
Daughter of late Samsung chairman becomes Samsung C&T president
Lee Seo-hyun, the second daughter of late Samsung Group Chairman Lee Kun-hee and the younger sister of Samsung Electronics Chairman Lee Jae-yong, is returning to the management as she takes the post of president at Samsung C&T. Samsung C&T, the construction ...
December 22, 2024
